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RTÉ report is out but curtain will not come down on this drama just yet

The report found that based on the planned number of shows, the Toy Show the Musical would have struggled to break even
The report found that based on the planned number of shows, the Toy Show the Musical would have struggled to break even

The story behind the rise and fall of Toy Show the Musical has all the twists, turns and drama of a stage production.

When it comes to governance and financial control of the project, the reviews are in and they are not good.

A report from consultants Grant Thornton concludes there was "no objective justification" for the way sponsorship money for Toy Show the Musical was accounted for in RTÉ's books.

It found that sponsorship revenue was overstated by €75,000 and spot revenue, which comes from advertising, was understated by €75,000.

There was no monetary loss or gain for RTÉ, but the report states that what was done was "not in line with generally accepted accounting practices".

Chair of the RTÉ Board Siún Ní Raghallaigh said the report made for difficult reading.

"It clearly sets out a collective failure to properly assess the risk associated with the project and it provides further evidence of the dysfunctional relationship between the executive and the Board at that time," Ms Ní Raghallaigh said in a message to RTÉ staff.

The Grant Thornton report found that Toy Show the Musical required the sign-off of the RTÉ Board but that formal approval was neither sought nor provided.

The review uncovered additional costs of almost €70,000 that had not been previously reported bringing the total loss for the musical to €2.27 million.

The report found that based on the planned number of shows, the musical would have struggled to break even.


Read more:
Proper procedures not followed in Toy Show musical production - Taoiseach
Recording of musical's sponsorship money 'not in line with generally accepted accounting practices'

'Not acceptable' - RTÉ Board Chair apologises over musical


Under a section called 'Limitations', the report outlines how Dee Forbes, the former director general of RTÉ, was unable to participate in the review for medical reasons.

"Ms Forbes has therefore not had the opportunity to take part in the process or comment on any matter in this report," the report states.

"Through her solicitor, Ms Forbes reserves the right to comment further on all matters when she is medically fit to do so."

"Unfortunately, this is a limitation on my review," the author concludes.

All-in-all, the report paints a picture of a board of directors that was not given all the facts, information was held, big decisions, like the booking of the venue for the musical, were taken before the board was even consulted.

But there is also criticism of the directors for not asking the right questions at the right time.

This report was long-awaited, but its publication will not bring the curtain down on this particular production with politicians demanding further answers.