The Agriculture Committee was briefed on strategic budgeting issues at the Department of Agriculture and Rural Development on 7 September 2010.
John Smith, a senior DARD official, told the committee the department's budget could be cut by over 18 per cent over the next four years.
One of the Agriculture Department's priorities is to spend £13m on new headquarters as its current building on the Stormont estate is "coming to the end of its useful life". The new HQ could be situated outside Belfast.
The committee questioned Mr Smith on the over-valuation of the department's Crossnacreevy site that had been earmarked for sell-off. He replied that there had been no deliberate over-valuation.