The president of Dublin City University (DCU), Professor Daire Keogh was overpaid over a four-year period due to an administrative calculation error.
That is according to the university’s consolidated financial statements for 2025, which show that once the error was identified and confirmed last month, “the salary was adjusted for future payments”.
Keogh has served as president since July 2020 and the note adds that an immediate repayment plan was put in place for the amount of monies received by the President totalling €18,900.
The note attached to the report states that under the repayment plan, all amounts received will be repaid July 31st.
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The note states that the salary overpayment arose “due to an administrative calculation error linked to FEMPI restoration and subsequent pay award application”.
The report states that the remuneration – excluding amounts payable under the DCU model public sector pension scheme – of the University President in the 12 months to the end of September last was €243,933.
It also reveals that DCU has written off €4.38 million including VAT incurred on professional fees for a proposed new student accommodation building following a decision not to proceed with the development.
The write-off attracts the notice of the Comptroller and Auditor General, Seamus McCarthy, in his report accompanying the financial statements.
The annual report shows that despite the write-off, DCU’s surplus last year increased by 92 per cent from €8.09 million to €15.5 million.
The sharp rise in surplus followed DCU’s income for the 12 months to the end of September jumping 15 per cent from €297.7 million to €342 million.
The report states that excluding a capital donation for a building project, income rose by 11 per cent.
The accounts show that State grant funding rose from €68.2 million to €76.16 million while academic fee income increased from €112.3 million to €123 million.
The university’s income from residences rose marginally from €12.54 million to €12.84 million.
In his president’s report, Keogh states that the surplus for the year “funds capital investment which has long term benefits for the Group”.
A note attached to the accounts on the write-off shows it has been recognised from non-exchequer sources against expenditures incurred to date at approved decision gates on the new on-campus student accommodation project.
The note states that “Due to construction inflation, the project is awaiting a funding solution that can deliver affordable accommodation for students. The provision may be reversible in a future financial year, should the project proceed to delivery”.
