Gardaí need a better way of storing €40m in cash, TD says
Eva Osborne
A TD has said that gardaí need a "better way" of storing €40 million in cash, after former garda commissioner Drew Harris confirmed the Garda estate had the large sum in cash-on-hand, not stored in a bank.
The Public Accounts Committee (PAC) published a report on Tuesday on the accounts and financial oversight of An Garda Síochána.
The recommendations in the report stem from senior members of An Garda Síochána appearing before the PAC last year, where it was revealed by the then garda commissioner, Drew Harris, that the Garda estate had €40 million in cash-on-hand.
In subsequent correspondence to the Committee, it was also revealed by An Garda Síochána that there were 41 investigations into missing case evidence over the last five years, with 11 investigations still ongoing.
TD for Dublin North West and vice chair of the PAC, Paul McAuliffe, said that, while An Garda Síochána have made efforts to be "upfront" about the value of cash-in-hand, there remains a degree of concern about the high value of cash stored in the Garda estate.
McAuliffe said it presents a "significant financial risk" to the State.
As part of the recommendations, McAuliffe said that "this significant sum of money, which is currently not held electronically or in a bank but in cash notes, should be placed in a high-interest account where it would be secure".
“Often at the PAC we criticise organisations for not depositing significant sums of cash in high interest accounts. In the case of this evidence stored which has amounted to €40m cash-in-hand, this is in a zero-interest environment and also not in the security of a bank," he said.
"When I highlighted this issue in July of last year, it was a real-time reaction, primarily due to the sheer amount of cash held, not lodged in banks and otherwise considered unsecure. During my time as a TD and a member of the PAC, I haven’t come across a similar instance like the issue raised.
“One clear recommendation from the report, which I am particularly supportive of and believe should be acted upon in a timely manner, is that the gardaí and the Department of Justice consult with the relevant authorities, to examine the feasibility of lodging seized cash into secure, interest-bearing accounts, similar to the arrangements operated by the Revenue Commissioners, while ensuring that any such approach fully preserves evidential integrity and complies with court-ordered requirements.
"I also welcome the Committee’s recommendation to ensure there is central oversight of cash held as evidence across the Garda estate and that this should include regular monitoring and reporting in order to mitigate the risks associated.
"This is especially relevant given there were 41 investigations into missing case evidence over the last five years, with 11 investigations still ongoing.
"We need a system that reflects both financial prudence and public trust. The recommendations outlined in this report seek to support this work. It is now up to the gardaí to ensure they act on the recommendations from a public spending and financial security point of view.”
