Dundalk IT in a “vulnerable” financial position

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.

Dundalk IT received almost €20m in funding last year

Dundalk IT received almost €20 million in funding for the Higher Education Authority last year.

The figure was revealed following a parliamentary question from Deputy John Halligan TD to the Minister for Education and Skills Jan O’Sullivan.

She revealed that €19,981,757 in funding went to Dundalk IT last year. UCD received the most at €113.8m, followed by Trinity College, which received €89.5m.

Dublin IT received the most for an IT at €84.4m, with Cork IT, Waterford IT, Sligo IT, Limerick IT and Galway-Mayo IT amongst the ITs to receive more than Dundalk.