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Departmental Banking

Dáil Éireann Debate, Tuesday - 16 October 2012

Tuesday, 16 October 2012

Questions (262)

Michael McGrath

Question:

262. Deputy Michael McGrath asked the Minister for Education and Skills if he will provide, in tabular form if possible, a list of the bank accounts used by his Department and separately any agencies within the remit of his Department; the purpose of each bank account and the financial institution the bank account is with; the total amount of any interest charged or bank fees incurred by his Department and separately by each agency in 2011 and anticipated figure for 2012; the percentage of payments issued by his Department and each agency which are issued electronically and if the Department agency has any special arrangement in place on the issue of bank charges and fees; and if he will make a statement on the matter. [44847/12]

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Written answers

My Department currently operates thirteen bank accounts with commercial banking organisations. These accounts are principally used to make payments by electronic funds transfer or to receive funds which are subsequently transferred to the Exchequer Supply Account held in the Central Bank. A detailed schedule listing the name and purpose of each of the accounts, as well as details relating to the percentages of payments which are issued electronically by my Department, is attached. In regard to the vast majority of the accounts that my Department operates, banking fees are not levied. In 2011 fees totalling €1,357 were incurred, while up to end September 2012, fees totalling €996 were incurred. No bank interest was paid by the Department in either 2011 or to 30 September 2012. Interest was also earned in respect of the National Training Fund and the Educational Endowments deposit bank accounts. Interest totalling €31,065 was earned in 2011 while €13,125 was earned to 30 September 2012. The bulk of the interest earned arose on the National Training Fund Account.

My Department also avails of a foreign payments service with Investec Bank for which fees are incorporated into the currency exchange rate supplied by this bank. The information requested by the Deputy with regard to agencies under my Department's aegis is not held centrally by my Department.

Details Of Commercial Bank Accounts Operated by the Department of Education and Skills during 2011 and to 30/09/2012

-

Account Name

Commercial Bank Operating Account

Reason for Account

1.

National Training Fund - Public Bank Account

Bank of Ireland

Account to cater for receipts paid into the National Training Fund (NTF) and payments made from the Fund

2

Educational Sector Pension Related Remittances - Public Bank Account

Bank of Ireland

Account to cater for the collection of Pension Related Deductions (PRD) from the education sector

3

EMTS for Payroll Purposes - Public Bank Account

Bank of Ireland

Account to facilitate the payment of Salaries for staff of the Department

4

Primary Teachers EMTS - Public Bank Account

Bank of Ireland

Account to facilitate the payment of salaries to Primary Teachers by Electronic Money Transfer

5

Post Primary EMTS  - Public Bank Account

Bank of Ireland

Account to facilitate the payment of salaries to Post Primary Teachers by Electronic Money Transfer

6

Special Needs Assistant - Public Bank Account

Bank of Ireland

Account to facilitate the payment of salaries to Non Teaching Staff members of Primary and Post Primary Schools by Electronic Money Transfer

7

Teachers Pensions EMTS - Public Bank Account

Bank of Ireland

Account to facilitate the payment of pensions to Retired Teaching and Non Teaching Staff of Primary and Post Primary Schools by Electronic Money Transfer

8

Post Primary Teachers' Social Insurance Benefit - Public Bank Account

Bank of Ireland

Account to facilitate the collection of maternity, illness and other relevant benefits. Sums paid to the Department of Education by the Dept of Social Protection via Electronic money transfer, in respect of  post primary teachers

9

Primary Teachers' Social Insurance Benefit -  Public Bank Account

Bank of Ireland

Account to facilitate the collection of maternity, illness and other relevant benefits paid to the Department of Education by the Dept of Social Protection by Electronic money transfer, in respect of primary teachers

10

Social Insurance Benefits for Non-Teaching Staff -  Public Bank Account

Bank of Ireland

Account to facilitate the collection of maternity, illness and other relevant benefits, paid to the Department of Education by the Dept of Social Protection via Electronic money transfer, in respect of non  teaching staff

11

Educational Grant EFT -  Public Bank Account

Bank of Ireland

Account to facilitate the payment of education sector grants/and all routine payments issuing from the Department.

12 & 13

Endowed Schools - Public Bank Accounts

Bank of Ireland

 Deposit and current accounts  to cater for the collection of dividends as well as the making of payments relating to the Departments historic educational endowments .

Percentages of Payroll/Grants issuing from Department of Education and Skills which Issue via Electronic Funds Transfer

-

Name of Payroll/Grant Disbursement

Relevant Percentage issuing by EFT in 2012

1

Educational Disbursements/Payments via Department's Financial Management System

95.73

2

Department's Staff Salaries Payroll

99.44

3

Primary Teachers Payroll

99.99

4

Post Primary Teachers Payroll

99.97

5

Non-Teaching Staff Payroll

100

6

Retired Payroll

98.45

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