Willie Penrose (Longford-Westmeath, Labour)
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Question 44: To ask the Minister for Community, Rural and Gaeltacht Affairs the position regarding the dormant accounts fund; the number of applications received to date; the funding allocated by county; and if he will make a statement on the matter. [47042/09]

Éamon 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 October 2009, transfers to the DAF have totalled some €513.9m. Funds reclaimed by account holders since April 2003 total some €182.8m. The value of the DAF at the end of October 2009, net of liabilities, was some €49.8m. This figure excludes €45m maintained in a Reserve Account to meet future reclaims by account holders and to cover expenses associated with the operation of the DAF.

Of the 9,393 applications received to date, 9,246 applications have been assessed with 6,509 or 70% of these recommended for funding. The number of applications not recommended or deemed ineligible for funding to date has amounted to 2,737 or 30% of assessed applications. In addition, the Government agreed to provide €64.4m to support the Rural Social Scheme, which has national coverage, between the years 2004 and 2008. The Government also approved €10m to support an Early Childhood Initiative based in three projects in Tallaght West in Dublin South and Ballymun, Darndale, Moatview and Belcamp on Dublin's Northside. Full details of the 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 my Department's website at www.pobail.ie.