Committee of Public Accounts to examine Financial Statements of Housing Agency and Approved Housing Bodies Regulatory Authority

The meeting in Committee Room 3 of Leinster House will be joined by the Comptroller and Auditor General, Seamus McCarthy, and officials from the Department of Housing, Local Government and Heritage to examine:

• Financial Statements 2020 – The Housing Agency;
• Financial Statements 2021 – Approved Housing Bodies Regulatory Authority; and
• Report on the Accounts of the Public Services 2021: Chapter 7 – The Housing Agency's revolving Acquisition Fund.

During the afternoon session, beginning at 1.30pm, the Committee will consider correspondence and other business of the Committee.

PAC Cathaoirleach Deputy Brian Stanley said: “The Housing Agency was established in 2012 and its roles are between the delivery of policies including provision of social and economic regeneration, and more general support and advisory services. The Agency has also been given responsibility for the Pyrite Remediation Scheme, the Local Authority Home Loan Enhanced Leasing Scheme, the Defective Concrete Block Scheme, Cost Rental Equity Loan, and Croí Cónaithe.

“In his report on the Agency’s revolving Acquisitions Fund, the Comptroller and Auditor General highlighted the significant shortfall relative to the target for delivery of 1,600 residential units by the end of 2020. Even though the deadline was extended for a further year, by the end of 2021 just 54 per cent of that target, some 838 units had been acquired.

“At the end of 2021, the cash balance of the Fund was almost €38m – around half of the total Fund investment, representing an underutilisation of the Fund’s resources. The Committee would like to examine the reasons behind this shortfall, even with the year extension, and control measures to ensure suitability, quality, and value for money of residential units purchased under the Fund.

“The Committee is also examining the Agency’s 2020 Financial statements and areas of interest for Members include the Land Aggregation Scheme for local authorities, land held by the Agency for future development purposes, the Pyrite Remediation Scheme, and legal and professional costs.

“The Approved Housing Bodies Regulatory Authority was established in 2021 and is tasked with providing the regulation of Approved Housing Bodies for the purpose of supporting stronger governance and the financial viability of this sector. The Committee would like to examine the Authority’s oversight of the sector and the regulatory environment for Approved Housing Bodies. Members look forward to discussing these and related matters with the representatives of both organisations and the Department officials.”

The meeting in Committee Room 3 can be viewed live on Oireachtas TV.

PAC is a standing committee of Dáil Éireann which focuses on ensuring public services are run efficiently and achieve value for money. Further information on the role and remit of the Committee can be found here.

Committee proceedings can also be viewed on the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.