Galway Bay fm newsroom - Money raised through fundraising activities for NUI Galway, doesn't form part of the university's annual accounts.
It's one of several universities which have foundations which raise funds from private donors to help with research and education.
The Higher Education Authority has previously tried to urge these universities to consolidate all of the accounts associated with funds for the colleges.
According to today's Irish Times, latest records for Galway University Foundation Limited show assets were just over 57 million euro.
A trust-fund linked to UCC shows assets of 17 million euro, while the University of Limerick Foundation had just over 15 million in its account.
The funds in such foundations don't form part of the accounts of the university even though the money will benefit the institutions.
NUIG resisted declaring the sums on the basis that it doesn't control the foundation or trust organisations.
The HEA has written to several universities in recent years, urging them to consolidate accounts for foundations with university accounts for 'trust and transparency'.
More recently, all colleges have pledged to either consolidate their accounts or make full disclosures on private foundations or trusts.
