20. (1) In relation to a technological university, An tÚdarás shall, on or before the first day of March in each year, notify the president of the funding to be provided (in this section referred to as “allocated funding”) by An tÚdarás for that year to the technological university, from moneys provided to An tÚdarás under F11[ section 19 of the Higher Education Authority Act 2022].

(2) The president shall, on or before the first day of April in each year, or such other date as An tÚdarás may approve, prepare and submit, following approval by the technological university, to An tÚdarás, in such form and manner as may from time to time be approved by An tÚdarás, a statement of the proposed expenditure and, other than allocated funding, expected income of the technological university for that year.

(3) The allocated funding and the expected income of the technological university referred to in subsection (2) shall be the budget of the technological university for that year.

(4) A technological university shall not, in a year, exceed its budget for the year.

(5) An tÚdarás may at any time, on an application in that behalf being made to it by a technological university, increase the amount of the allocated funding of the technological university from moneys provided to An tÚdarás under F11[ section 19 of the Higher Education Authority Act 2022].

(6) Where the president is of the opinion that—

(a) the actual expenditure in a year, or

(b) a proposed course of action,

taking into account any increase under subsection (5), will or is likely to result in expenditure in excess of the budget for that year such that it would constitute a material departure from the budget (in this section referred to as a “material departure from the budget”), the president shall so inform the technological university and give reasons for his or her opinion.

(7) The technological university shall advise the president as to whether it agrees with his or her opinion and shall inform the president as soon as practicable after being informed of the president’s opinion under subsection (6) if it decides—

(a) in a case relating to actual expenditure in a year, not to decrease that actual expenditure, or

(b) in a case relating to a proposed course of action, to continue with that proposed course of action.

(8) The president shall, as soon as is practicable following receipt of the advice of the technological university under subsection (7), inform An tÚdarás if he or she is still of the opinion that there will be a material departure from the budget.

(9) Where, notwithstanding this section, a technological university incurs expenditure in excess of its budget that is not met from the income of the technological university other than the allocated funding, that excess shall be a first charge on the budget for the next succeeding year.