As I have outlined to the House on several occasions recently, decisions on the disbursement of funds from dormant accounts moneys are currently a matter for the Dormant Accounts Disbursement Board, an independent body established under the Dormant Accounts Acts.
The board is currently deciding on the disbursement of up to €30 million. In that regard, the board has engaged Area Development Management Limited, or ADM, to administer the initial round of funding on its behalf. The closing date for receipt of applications for this round of funding was 5 March 2004, and I understand approximately 1,500 applications had been received by the closing deadline. The process of appraising and evaluating those applications by ADM is under way, and to date the board has approved 46 projects totalling approximately €5 million.
The Deputy will be aware that the Government decided last December to make several changes regarding dormant accounts. Legislation to give effect to the proposed changes is currently being drafted and will be published in the next few weeks.
I emphasise that the objectives of the disbursements scheme as set out in the board's first disbursement plan will remain unchanged, that is, funding to assist programmes or projects targeting three broad categories of persons — those affected by economic and social disadvantage, educational disadvantage, and persons with a disability. It is also important to note that the Government decision provides that decisions in the area be taken following a transparent application and evaluation process.
The Government proposes key roles for the board, with particular regard to advising on priority areas to be considered annually for funding and preparation of the disbursement plan.
Furthermore, the board will critically assess the additionality and impact of spending on a regular basis. That is of critical importance, and arrangements will be put in place to ensure that spending under the Dormant Accounts Disbursement Board be kept separate from the normal Estimates process so that additionality can be verified.
On the possible future role of ADM following the legislative changes proposed regarding dormant accounts, the Deputy will appreciate that arrangements for processing and so on have yet to be worked out. I point out, however, that arrangements to be put in place will have full regard to best practice in the disbursement of public moneys while seeking to avoid undue bureaucracy and excessive administrative and overhead costs.