A repayment plan on €5 million in emergency funding given to IT Tralee has yet to be finalised.
This is according to the Higher Education Authority, which gave IT Tralee €5 million in 2019 in order to ensure the financial stability of the institution.
The HEA gave IT Tralee, now the Kerry Campus of the Munster Technological University, €5 million in emergency funding in August and September of 2019.
This was, according to the Department of Education, to ensure the financial stability of the college.
It wasn't stated at the time if this emergency funding was to be considered a loan and this point was to be considered following a review of a new sustainability plan for the college.
According to the college's most recent accounts, which have been seen by Radio Kerry, the auditor considers the funding to be a loan, of which the terms for repayment are being arranged.
The HEA says that, as of early August, the terms of repayment have been finalised between the HEA and ITT (MTU) and this is currently under consideration by the department.
The financial statements also show the institute submitted a sustainability plan and
a business plan for the Kerry Sports Academy to the HEA in March 2020; this is also still being considered.
