7 May 2014, 10:38
The Finance Accounts for 2012 as well as the Department of Finance’s Appropriation Account are on the agenda of the Committee of Public Accounts tomorrow, Thursday, 8th May 2014 when it meets with John Moran, Accounting Officer of the Department of Finance.
Chapter 1 of the C&AG Annual Report 2012, Exchequer Financial Outturn for 2012 is also on the agenda along with chapter 2, Government Debt.
Chairman of the Committee John McGuinness said: “The Department of Finance exceeded its budget deficit target of 7.5% in 2013 by achieving a rate of 7.2%. Last year was the third consecutive year that Ireland performed ahead of target. The Department of Finance has estimated that the budget deficit will be about 4.8% this year and 2.9% in 2015. The Committee may wish to discuss these budget deficit targets with the Accounting Officer and progress made towards the 3% target. The Department’s Banking Division, interaction with the banks and the role of public interest directors is another area of concern. Remuneration in the banking sector and when the payment of bonuses may be reinstated will also be of interest. The Accounting Officer will also be well placed to answer questions on mortgage arrears and SME lending.
Staff numbers at the Department have increased from 272 in 2011 to 319 in 2012. The Committee will be interested to know to which sections were the additional staff assigned and to ascertain if the Department currently possesses the skill set it requires to carry out its functions. For example, how many economists and accountants does the Department currently have on staff? How many banking specialists does the Department have? The Department also appointed a chief risk officer in 2013 and we will be interested in discussing how this appointment has improved the workings of the Department.”
This meeting will start in Committee Room 1 at 10am on Thursday, 8th May 2014.
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Committee of Public Accounts Membership
John McGuinness (Chairman)
Kieran O’Donnell (Vice Chairman)
Paul J Connaughton,
John Deasy,
Áine Collins
Gerald Nash,
Simon Harris,
Robert Dowds,
Mary Lou McDonald,
Sean Fleming,
Eoghan Murphy,
Derek Nolan,
Shane Ross.