In response to the Deputy's question I, as Minister for Finance, will answer in respect of boards of state agencies under the aegis of my Department.
Within my remit there are four such boards where the chairpersons or non-executive directors are in receipt of remuneration from the State. These bodies are the Disabled Drivers Medical Board of Appeal (DDMBA), the Irish Fiscal Advisory Council (IFAC), the Credit Union Restructuring Board (ReBo) and the National Treasury Management Agency (NTMA). The details for these are included in the table.
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Body
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Number of Chairpersons/Non-exec Directors
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Cost of Chairperson/Non-exec Directors to exchequer since appointment
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Source of Funding (If coming from a vote please specify)
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Comments on Potential Savings opportunities
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National Treasury Management Agency (NTMA) Members
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Three ex-officio Members (the Chief Executive of NTMA who is an executive director, Secretary General of the Department of Finance and the Secretary General of the Department of Public Expenditure and Reform)
6 Appointed Members including the chairperson
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The ex-officio Members do not receive remuneration for their role.
Annual Remuneration:
Chairperson: €45,000
Ordinary Member: €30,000
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Remuneration and expenses are paid by the NTMA which is funded from the Central Fund.
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The National Treasury Management Agency (Amendment) Act 2014 simplified and streamlined the governance structures of the National Treasury Management Agency (NTMA).
The following corporate bodies and committees will no longer be required under the new structure and have been dissolved: the NTMA Advisory Committee, the National Development Finance Agency (NDFA) Board and the State Claims Agency (SCA) Policy Committee.
The National Pensions Reserve Fund Commission has been reduced to one Member (the Chief Executive of the NTMA) while the assets of the Fund are transferred to the ISIF.
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Disabled Drivers Medical Board of Appeal
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One Chairperson
Four other members who are not Directors
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The Chairperson of the Disabled Drivers Medical Board of Appeal is a medical consultant employed by the National Rehabilitation Hospital. The Minister for Finance provides for €330,000 per annum on the Finance Vote to recoup to the National Rehabilitation Hospital the costs of administering the Medical Board of Appeal.
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Vote 7 (Finance Vote)
Line C3
(Fiscal Policy Division)
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Irish Fiscal Advisory Council
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Five members of the Council including the Chair
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The Chair receives €20,520 per annum.
The total fees paid since 2011:
2015
- No fees paid yet
- €1423.45 travel and subsistence
2014
- €64,959 fees incurred plus employers PRSI
- €28,120 travel and subsistence
2013
- €71,490 fees incurred plus employers PRSI
- 28,315 travel and subsistence
Total - €194,307.45.
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Central Fund
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The Minister has no intention of reducing the number of Council members as the number of members is in Statute in the Fiscal Responsibility Act 2012.
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Credit Union Restructuring Board (ReBo)
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12 board members including the chair
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€249k (spanning Aug 2012 to Feb 2015).
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Credit Union Fund - Consistent with the co-funding of ReBo by the credit union movement and the State as recommended by the Commission on Credit Unions, 50% of ReBo's total expenditure is recoupable from the credit union sector via a levy.
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ReBo is facilitating and overseeing the restructuring process which is being carried out on a time-bound basis. When the Minister is satisfied, having conducted a review, that the Board has performed its functions in line with Section 43 of the Credit Union and Co-operation with Overseas Regulators Act 2012 the Minister may dissolve ReBo.
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