IT Tralee says it’s not disputing its operational deficits over the past five academic years.
The college was found to be overstaffed, losing money and experiencing serious cash flow problems, and the Higher Education Authority ordered a review last year amid financial concerns.
Institute of Technology Tralee management say they initiated a dialogue with the Higher Education Authority to address its financial challenges.
They claim this was as a consequence of a failure to address third level funding and the recommendations raised in the 2016 Cassells Report.
IT Tralee is not disputing its operational deficits over the past five academic years; IT Tralee presented a number of solutions to the HEA which aimed to address its operational deficits, which this year will be around €1.5 million, down from €2.5 million in the previous academic year.
IT Tralee claim financial projections show income from proposed measures may see the Institute return to an operating surplus in the AY 2019/20.
The Governing Body and Senior Management of CIT, IT Tralee’s partner in the creation of the MTU are fully briefed on IT Tralee finances.