11 hours ago
Peter McVerry Trust tells PAC it will not attend hearing
The
Peter McVerry Trust
has again rejected a request to appear before a powerful
Dáil
committee for a public hearing on its €15 million State bailout.
The
Committee of Public Accounts
(PAC) had asked the charity to attend Leinster House on Thursday to discuss a report on its financial troubles by the
Comptroller and Auditor General
(C&AG), the spending watchdog.
The meeting comes after serious governance failings by the trust came to light in investigations by two State regulators.
This is the trust's second such refusal. It declined to attend the PAC in early 2024 because investigations were ongoing.
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The charity established by Jesuit priest
Fr Peter McVerry
received just over €140 million from State sources between 2019 and 2022, the last year for which figures are available.
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Dublin hotel bought for €6.24m by McVerry Trust vacant since 2022
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Responding to questions, the trust said it was not 'at this time' in a position to attend the PAC and still awaited completion of financial accounts for 2023.
The C&AG report found the trust wanted the State to fully fund its services in the future. The previous financial model assumed 70 per cent State income and 30 per cent from fundraising.
The report also said the
Department of Housing
had incurred €1.56 million in costs for 'professional fees' in relation to the McVerry trust. Such spending was in addition to the €15 million rescue package.
In a letter to the PAC, the McVerry charity said the comptroller's document was 'accurate and the committee can be assured that the trust has nothing to add to it at this stage'. The charity was 'deeply appreciative' of financial support from the department and other funders, it said.
Fine Gael TD
James Geoghegan
, a PAC member, said the refusal to attend was not acceptable, adding that the trust should reconsider.
'The reasons previously given for not attending the PAC committee was because of outstanding investigations which are now complete,' he said.
'Now the explanation is that they have nothing further to add, but this could have been an opportunity to help rebuild trust.'
Asked about its refusal to attend, the trust held out the prospect of a PAC appearance when the 2023 accounts are released.
'Once these audited accounts are available, they will be published and we will share relevant information with our stakeholders and the public as appropriate, including making representatives available for the appropriate Oireachtas committee in due course,' it said.
'We remain fully committed to the ongoing reform and restructuring within our organisation. We continue to work intensively with our funders and regulators to ensure full regulatory compliance and to secure long-term financial sustainability.'
