Mary Lou McDonald
Question:81. Deputy Mary Lou McDonald asked the Minister for Education and Skills the amount that remains in Caranua's fund. [4536/16]
View answerWednesday, 3 February 2016
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Caranua, the Residential Institutions Statutory Fund Board, is an independent statutory body established pursuant to the Residential Institutions Statutory Fund Act 2012 to oversee the use of the cash contributions of up to €110 million, pledged by the religious congregations, to support the needs of survivors of institutional child abuse. To date a total of €85.92 million, including €84.54 million in contributions and €1.38 million in associated interest has been lodged to the special Investment Account managed by the National Treasury Management Agency (NTMA).
I understand that in the period from its establishment in 2013 to end 2015 Caranua had, subject to confirmation on audit, expended some €44 million of the funds available on meeting the needs of survivors and on associated administration costs.
On the basis that the full €110 million in cash committed by congregations will be received, my officials estimate that Caranua will have a further amount of some €66 million available to it.
Caranua's annual accounts for 2015 will set out details regarding the Statutory Fund account. In accordance with the relevant legislative provisions, the audited annual accounts will be laid before both Houses of the Oireachtas in the normal manner.