Liz McManus (Wicklow, Labour)
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Question 55: To ask the Minister for Community, Rural and Gaeltacht Affairs the amount of funding provided under the dormant accounts fund since its inception; the geographical spread of the applications for funding; the number of successful applicants; the number refused funding; if there is a waiting list for funding; if so, the position of providing such funding to these groups; and if he will make a statement on the matter. [8956/09]

Éamon Ó Cuív (Galway West, Fianna Fail)
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The Dormant Accounts Fund Acts provides for an annual transfer by credit institutions and insurance undertakings of monies in accounts determined to be dormant into the Dormant Accounts Fund (DAF). Since its establishment in May 2003 to the end of December 2008, the net transfers to the DAF have totalled some €306.3m.

The value of the Fund at end December 2008, net of liabilities, was some €21.7m. This excludes the amount of some €46m currently maintained in a Reserve Account to meet reclaims and to cover expenses. The reserve is currently set at 15% of the total moneys received by the Fund and not yet reclaimed. Further allocations to specific measures must await information on the value of funds liable to transfer from financial institutions later this year.

The geographical spread of the applications received for funding under each round is set out in the Table.

Of the 8,649 application received to date, 8,154 applications have been assessed with 5,962 or 73% deemed successful. The number of applications not recommended or deemed ineligible for funding to date has amounted to 2,192 or 27% of assessed applications.

All applicants are notified of the outcome of their applications, following decisions by the Government. The Deputy will appreciate that the number of approvals under each measure are made having regard to the resources available and the quality of applications received. Given the nature of the application, assessment and approval processes, the issue of waiting lists does not arise.