A financial sustainability plan for IT Tralee is currently being considered by the department.
The Institute of Technology Tralee, now the Kerry campus of the Munster Technological University, had accumulated financial deficits in recent years.
It amalgamated with Cork Institute of Technology on January 1st of this year to become the MTU.
In 2017, the Higher Education Authority met with the institute about the worsening financial situation in the college, where it noted IT Tralee had incurred operating deficits for the previous four years.
In 2019, the HEA gave the institute €5 million in emergency funding.
The HEA said, while it appreciated the college's attempts to balance its budget, it was concerned this approach would not address the longer-term stability of the institute.
The HEA now says it submitted a copy of the sustainability plan and due diligence conducted on behalf of the HEA to the Department of Further and Higher Education, Research, Innovation and Science in March 2020.
It says the plan is still under consideration by the department.
