EXPENSES WORTH €50,000 were paid to members of the National Asset Management Agency board in 2011, while board members attached to the National Treasury Management Agency (NTMA) shared €41,000.
Minister for Finance Michael Noonan released the figures to Labour TD Kevin Humphreys following a parliamentary question. The backbencher sought the total amount paid in remuneration and expenses to members of publicly appointed State boards last year.
A total of €48,960 in expenses was paid to the Nama board and committee members, “primarily reflecting travel and accommodation expenses of a member not based in Ireland”.
The information from Mr Noonan said Nama had “up to” nine board members and two vacancies.
The NTMA’s advisory committee received €40,955 in expenses, “reflecting travel and accommodation expenses incurred by non-Irish-based members”. The NTMA board has “up to” seven board members and one vacancy.
Mr Humphreys said the expenses were excessive. “I understand there are overseas members of the boards but it’s still a bit high, I would consider it still to be excessive,” he said.
Mr Noonan also gave details relating to the Irish Bank Resolution Corporation Ltd, formerly known as Anglo Irish Bank.
He said expenses worth €1,758.21 were incurred by directors attending meetings, “including, in some cases, costs in respect for attendance via conference call” in the instance of two board members.
He said there were currently eight board members of the Irish Bank Resolution Corporation Ltd, who received total board fees of €671,600.
Some €74,815 was paid in remuneration and expenses to five members of the Central Bank Commission, although no breakdown was provided between remuneration and expenses.
The chairman of Nama received a fee of €150,000 and six members received fees of €60,000 while one member, also chairman of the credit committee, received a €75,000 fee. Two ex-officio members received no fees in respect of their membership.
The NTMA advisory committee chairman was paid €50,000 and agreed to make a gift of 10 per cent of the 2009 remuneration under the Taxes Consolidation Act. So-called ordinary members are paid €25,000, and also agreed to make the 10 per cent gift.
The secretary general of the Department of Finance received no fees in respect of his membership.
