The review was carried out by the Higher Education Authority.
This report states that the introduction of a new funding model has resulted in a decline of over 10% in State funding for IT Tralee between 2010/11 and 2014/15.
Tralee was noted for performing well with regards to research income between 2007/08 and 2014/15.
It was also pointed out that IT Tralee has come up with innovative approaches to generating income, including its partnership with the Royal College of Surgeons in Ireland on a foundation programme for medical students, and its philanthropic funding for the Kerry Sports Academy.
It was also noted it generates up to 6% of revenue from international student activities.
However, the report states that there’s a rapid depletion of capital reserves in three ITs – Tralee, Letterkenny and Galway/Mayo, indicating the growing risk of funding effectively running out in the coming years.
Five institutes are considered to be vulnerable – Tralee, Letterkenny, GMIT, Waterford and Dundalk – and there are already some emerging signs of cash flow difficulties in some of these institutes.