Dara Calleary (Mayo, Fianna Fail)
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520. To ask the Minister for Rural and Community Development the net amount of funding that has come into the dormant account funds to date in 2018 after repayments to the banks of reclaimed funds; the amount it is proposed to spend on projects out of the fund in 2018; the spend to date; the amount of uncommitted funds on hand not including the statutory reserve; and if he will make a statement on the matter. [53933/18]

Seán Canney (Galway East, Independent)
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With regard to transfers to and from the Dormant Accounts Fund for 2018, the most recent information available to me from the NTMA covers the period to the end of November 2018. At that point €68.75 million had transferred into the fund from dormant accounts within relevant financial institutions for 2018. A total of €20.35 million had been reclaimed from the fund. Therefore, the net value of transfers into the fund for 2018 to the end of November 2018 was €48.40 million.

With regard to expenditure on measures approved in Dormant Account Fund Action Plans, as the Deputy is aware, measures approved in Action Plans subsequently require voted Government expenditure to be made available. For 2018 the total voted expenditure dedicated to Dormant Accounts measures across relevant Government Departments was €30.19 million. The delivery of measures is a matter for each relevant Department, however, as part of our co-ordination of the fund and based on information provided by NTMA, the level of disbursement for 2018 is expected to amount to just over €28 million. Within my own Department the total voted allocation for Dormant Accounts measures in 2018 is €10.08 million and expenditure of €10.07 million has been incurred for 2018.

Finally, at the end of November 2018 the balance in the fund was €313.96 million and the reserve fund stood at €86.64 million. Commitments made in Dormant Accounts Action Plans have a total liability of €82.37 million, of which €4.87 million was met by end the November 2018. Therefore, the amount of uncommitted funds at the end of November 2018 stood at €149.82 million. The end December information will reflect the position with regard to all disbursements made in 2018.