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 February 2012, the transfers to the DAF have totalled some €631.26m, which includes interest earned of some €35.58m. Funds reclaimed in that period by account holders amounted to approximately €230.74 million. The net value of the Dormant Accounts Fund (uncommitted funds) was €68.25 million on 29 February 2012. The value of the dormant accounts fund for the end of February 2010 was €41.649 million and at the end of February 2011 was €52.489 million.
A summary of the current status of the Dormant Accounts Fund is available on my Department's website at http://www.environ.ie/en/Community/DormantAccounts/
PublicationsDocuments/FileDownLoad,26542,en.doc.
This provides a profile of the Fund showing yearly inflows, reclaims, disbursements, etc, from 2003 to the end of February 2012. Disbursements from the Fund are paid from the Votes of relevant Departments which, in turn, are reimbursed from the Fund. Expenditure under the Fund is spread across some 10 Departments and Agencies. A listing of disbursements from the Dormant Accounts Fund for 2010 and 2011 is outlined in the table. Details of all allocations to beneficiaries under the Dormant Accounts Fund are also available on my Department's website at: http://www.environ.ie/en/Community/DormantAccounts/DisbursementofFunds/.
My Department will arrange to provide details in respect of beneficiary organisations funded under my Department's measures, which are administered by Pobal, directly to the Deputy as soon as possible. It would be a matter for each Department and Agency to provide similar details in respect of disbursements from their Votes/budgets.
Disbursements
|
2010
|
2011
|
Pobal (Formerly ADM, Service provider and agent of the Dormant Accounts Board)
|
€874,975
|
€407,655
|
Dept. Community, Equality and Gaeltacht Affairs
|
€5,285,543
|
|
Education and Skills
|
€1,216,099
|
€1,600,414
|
Health Service Executive
|
€6,119,277
|
€1,241,990
|
Transport, Tourism and Sport
|
€394,755
|
|
Children and Youth Affairs
|
€2,965,953
|
€3,000,000
|
Justice and Equality
|
€672,150
|
€208,742
|
Irish Prison Service
|
€217,974
|
€229,309
|
Environment, Community and Local Government
|
€1,506,109
|
€1,440,928
|
Social Protection
|
€1,014,200
|
€274,300
|
Total
|
€20,267,035
|
€8,403,338
|