Dáil Éireann Debate, Tuesday - 16 January 2018
460. Deputy Thomas Pringle asked the Minister for Education and Skills if the HEA will provide a breakdown of the funding made available to an institute (details supplied) in 2016 and to date in 2018; if a copy of the agreement made between the ucation Authority, HEA, and the institute can be provided to indicate the specific spending requirements agreed to at the time; and if he will make a statement on the matter. [1955/18]
View answerIn 2014 a working group was established to examine the financial viability of a school of the multi-campus institute referred to by the Deputy. Following the recommendations of this Group my Department approved ring-fenced funding of €750k per annum for 4 years from 2017 to 2020 which equates to a total of €3 million.
The decision is subject to a plan including rebranding, continued part time student growth, increase engagement with the ETB, development of new undergraduate programmes and cost cutting measures which will be put in place.
The appointment of an independent external financial expert, Mr Michael O’Connell, was agreed with the Institute to review the campus and ensure that the overall institute could return to a balanced budget position. This review has been completed and a five year plan to facilitate this has been put in place. This plan is currently being updated following a meeting with HEA in December 2017 and a scheduled meeting is proposed in March 2018. Of the overall grant allocation, the DES has directed that this additional funding is to support the ongoing costs of the Campus and to assist the Institute in implementing the above plans and recommendations to return the institute financial stability.
