Dáil Éireann Debate, Tuesday - 16 January 2018
1519. Deputy John Deasy asked the Minister for Rural and Community Development the County Waterford based projects that have received funds from the Dormant Accounts Fund over the past five years; and the amount in this fund. [54639/17]
View answerStatutory responsibility for the Dormant Accounts Fund transferred to my Department in July 2017. The legislation governing the Fund provides for disbursements to be made from the Fund to projects and programmes which benefit economically, socially or educationally disadvantaged people, and people with a disability.
My Department’s role is to prepare a Disbursement Scheme every three years and to co-ordinate the preparation of annual Action Plans. The Action Plans contain the details of specific programmes and projects for delivery across Government Departments each year.
A Dormant Accounts Fund Disbursement Scheme for the period 2017-2019 was approved by Government in April 2017 and the 2017 Action Plan was published in July 2017, following a detailed consultation process across Government Departments.
With regard to funding for projects based in County Waterford, the programmes and projects funded through the Dormant Accounts Fund are implemented through a range of Government Departments, and the details of individual projects and their geographic location are a matter for each individual Department.
With regard to my own Department, three Waterford based projects were approved for funding in 2017 under a Social Enterprise Measure which is administered on my Department’s behalf by Pobal. These projects are run by Dungarvan Care of the Aged, which was approved for funding of €50,342; GIY Ireland CLG, which was approved for funding of €49,768; and Waterford & Suir Valley Railway Company Limited by Guarantee, which was approved for funding of €44,415.
The Dormant Accounts Fund is managed by the National Treasury Management Agency (NTMA). The net value of uncommitted Dormant Accounts Funds stood at €124.8 million at the end of September 2017, taking account of a reserve for future claims by account holders and a provision for funds which remain to be disbursed by the NTMA on foot of cumulative approvals made through annual Action Plans.
