THE PETER MCVERRY Trust has contacted the Department of Housing to inform it of “potential financial issues” at the housing and homelessness charity.
In a statement this evening, a spokesperson for the Peter McVerry Trust said the charity is “experiencing cashflow pressures that are more acute than would traditionally be the case, even allowing for the summer period”.
“It is very clear that the organisation has obligations to regulators and statutory funders to disclose challenges such as these when they arise and the organisation has done so proactively and transparently,” the spokesperson said.
The issue was first reported by the Business Post this evening.
The Department of Housing said in a statement that the charity informed the Department and the Dublin Region Homeless Executive (DRHE) of the potential issues.
The Department said it is “satisfied that all appropriate steps are being taken in relation to the issues raised”.
“While this process is underway services provided by the Trust will continue uninterrupted,” it said.
The Business Post reported that a spokesperson for Housing Minister Darragh O’Brien said it was their understanding an independent auditor had been appointed on the back of concerns.
Dublin City Council said in a statement that the DRHE is “engaging” with the charity over the potential financial difficulties.
“While the realities of potential issues are clarified it is critically important that services to people experiencing homelessness continue and a commitment has been given that services will not be affected.”
The charity has advised the Department that the Charities Regulator and the Approved Housing Bodies Regulatory Authority (AHBRA) have also been informed.
The spokesperson for the Peter McVerry Trust said that “since first notifying the Department and the DRHE, our cashflow pressures have begun to lessen and we have a clear line of sight on a time bound resolution of them”.
They said that as the Department of Housing and the DRHE are its largest sources of funding, it is “working most closely with them”.
The Peter McVerry Trusts latest annual report shows that the charity received €38,378,909 in State funding in 2021. It also received €14,875,168 in charity-generated revenue and capital funding.
The charity received €29,957,357 in State funding in 2020.
The Department of Housing said it “does not fund any homeless service directly but provides funding to local authorities towards the operational costs of homeless accommodation and related services” under Section 10 of the Housing Act 1988.
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