Dáil Éireann Debate, Wednesday - 1 May 2013
36. Deputy Michael McGrath asked the Minister for the Environment, Community and Local Government the amount of money in the dormant accounts fund, less the reserve; the number of commitments entered into that have not been paid out broken down by year of sanction; and if he will make a statement on the matter. [20467/13]
Amharc ar fhreagraThe 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 March 2013, the transfers to the DAF have totalled some €678.5m, including €38.7m in interest. Funds reclaimed since April 2003 total some €255.4m.
The value of the DAF at the end of March 2013, net of liabilities, was some €85m. This figure excludes €56.8m maintained in a Reserve Account to meet future reclaims by account holders and to cover expenses associated with the operation of the DAF.
Details of the projects to which funding has been allocated to date and a summary of the status of the DAF are available on my Department’s website.
The amount of commitments entered into by my Department under Dormant Accounts measures yet to be drawn down by beneficiary organisations are €1,078,781 in 2006, €113,265 in 2007, €805,588 in 2008, zero in 2009, and €20,867 in 2010.
