Dundalk IT is in a “vulnerable” financial position, according to the chief executive of the Higher Education Authority (HEA).
Addressing the Dáil Public Accounts Committee yesterday, Tom Boland said that Dundalk IT, as well as Waterford IT, Letterkenny IT, Galway Mayo IT and the National College of Art and Design (NCAD) were suffering financial problems “to varying degrees”.
None of those institutions are in danger of immediate collapse, he said, but the authority is working closely with them. They have been asked to provide three-year plans setting out how they will recover.
Mr Boland said the difficulties, to some extent, reflected the lack of funding for the higher-education sector after the financial crisis. Some institutions were less able to manage than others due to factors including demographics.
Comptroller and Auditor General Seamus McCarthy told the committee some institutions had indicated they have deficits that could potentially affect their ability to operate in the future.
Talk of the Town 