Executive to write off £2 million debt run up in contract debacle…

Erm, that’s embarrassing… The final [Says who? – Ed] denouement of the Red Sky contract story appears to that the NIHE’s accounting system was a bit of a mess…

The total of overpayments which could not be substantiated by the Executive was worth around £12 million. That was set against an estimated £10 million bill for work which contractors did not initially claim for but which was included following the negotiations.

That leaves the Executive with a shortfall of around £2 million between the total of payments which cannot be properly substantiated and the estimate of contractors’ real entitlement. The £2 million has been written off.