The 2014/15 consolidated financial statements for University College Cork were submitted to my Department last May and were then laid before the Houses of the Oireachtas. I have forward a copy of those accounts for the Deputy's information.
The accounts for 2015/16 have not yet been signed off by the Comptroller and Auditor General but once finalized and received by my Department will also be laid before the Houses of the Oireachtas. Draft audited accounts for 2015/16 and financial budgets for 2017 will be submitted to the Higher Education Authority (HEA) as part of the on-going budgetary process.
The financial positions of all of the higher education institutions is monitored on an ongoing basis by the HEA.
The consolidated financial statements from higher education institutions are an important element in informing the annual budgetary process. The information provided in the financial statements is complemented by data collated through the strategic dialogue process, the commitments contained in the Action Plan for Education and the Programme for Government, and the overall strategic needs of the sector.
