asked the Minister for Health (1) the total amount of money in the patients property fund in each of the eight health boards; (2) if these moneys are earning interest, (3) if so, at what rate and to whom this accrues; (4) what the public accountability is for these funds; (5) if he thinks that an alternative arrangement which would enable patients to save through, for example, the post office would be more satisfactory from the patients point of view; and if he will make a statement on the matter.
Written Answers. - Patients Property Fund.
20.
The following is the position in respect of patients property fund.
1. The total amount of money held in trust by each board in the patients property fund as at 31 December 1985 is as follows:
|
£ |
|
|
Eastern, as at 30/9/1986 |
2,561,185 |
|
Midland |
923,523 |
|
Mid-Western |
1,711,627 |
|
North-Eastern |
1,300,000 |
|
North-Western |
1,100,000 |
|
South-Eastern |
2,374,000 |
|
Southern |
2,196,417 |
|
Western |
1,205,466 |
2. The rate of interest earned on these funds varies with the nature of the account. A portion of the funds are held on deposit and attract the current competitive rate, others are held in investment accounts and earn the appropriate rate.
3. The interest earned accrues to the patient property funds.
4. The patients property fund and the individual accounts associated with it are subject to an annual audit undertaken by commercial auditors.
5. The existing arrangements whereby the funds are administered on a trustee basis by the boards is considered to be operating in a satisfactory manner, both in relation to the patients needs and to the safe keeping of funds. No change in these arrangements is considered appropriate at this time.