Written answers

Tuesday, 17 November 2009

Department of Community, Rural and Gaeltacht Affairs

Dormant Accounts Fund

10:00 pm

Photo of Eamon GilmoreEamon Gilmore (Dún Laoghaire, Labour)
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Question 87: To ask the Minister for Community, Rural and Gaeltacht Affairs the position regarding the dormant accounts fund; the number of applications received to date in 2009; the funding allocated on a county basis; and if he will make a statement on the matter. [41622/09]

Photo of Éamon Ó CuívÉamon Ó Cuív (Galway West, Fianna Fail)
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The Dormant Accounts Acts provide 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 April 2003 to the end of September 2009, the transfers to the DAF have totalled some €513.90m. Funds reclaimed since April 2003 total some €181.27m. The value of the DAF at the end of September 2009, net of liabilities, was some €49.76m. This figure excludes €46.47m maintained in a Reserve Account to meet future reclaims by account holders and to cover expenses associated with the operation of the DAF.

My Department has received applications in 2009 in respect of two DAF measures, namely, Substance Misuse and the RAPID Additionality Round 4. Under the Substance Misuse measure, the Dial-to-Stop Drug Dealing Campaign sought applications for funding from the 21 Drugs Task Forces. Ten applications valued at €0.30m in total were approved for funding from the Dormant Accounts Fund in 2009. A further 83 applications were received for funding for Family Support Projects under this measure. The Government approved €1.56m in respect of 80 of these projects. Under the RAPID Additionality measure, 561 applications were received in 2009. To date, 404 projects have been approved by the Government for funds totalling €5.55m. The remaining projects are due to be considered by the Government in the coming weeks. Details of financial position of the DAF and of the individual grants and organisations that have been approved for support and their geographical location are available on the Department's website at www.pobail.ie.

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