Catherine Murphy (Kildare North, Independent)
Link to this: Individually | In context

Question 55: To ask the Minister for Community, Rural and Gaeltacht Affairs the amount which has been allocated from the dormant accounts fund on a county basis since its inception; and if all of the funds committed have been spent. [22753/05]

Noel Ahern (Dublin North West, Fianna Fail)
Link to this: Individually | In context

Decisions on the disbursement of funds from dormant accounts moneys are currently a matter for the Dormant Accounts Fund Disbursements Board, an independent body established under the dormant accounts Acts. The board engaged Area Development Management Ltd., ADM, to administer the initial round of funding on its behalf, which involves the allocation of €60 million from the dormant accounts fund. To date, the board has approved 482 projects for funding which will involve the allocation of approximately €56.2 million from the fund. A breakdown of these approved allocations by county is provided in the table. Over the coming weeks further allocations will be made by the board up to a total figure of €60 million.

The Government decided in December 2003 to bring forward legislative changes in arrangements for dormant accounts funding. Arising from this decision, the Dormant Accounts (Amendment) Bill was published on 24 June 2004 and became law on 25 May 2005. The Act provides for key changes in decision making on disbursements from the fund and for a reconstituted board.