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Dormant Accounts Fund

Dáil Éireann Debate, Tuesday - 27 March 2018

Tuesday, 27 March 2018

Ceisteanna (562, 564, 565, 566, 568, 569, 573)

Catherine Connolly

Ceist:

562. Deputy Catherine Connolly asked the Minister for Rural and Community Development his views on the assessment of the Comptroller and Auditor General that the low level of disbursement from the dormant accounts funds including the allocation of funds to measures which do not fully use the resources, prevents other programmes from being funded; if this has the consequence that the resources available from the fund are not being used in an efficient and effective manner; and if he will make a statement on the matter. [13702/18]

Amharc ar fhreagra

Catherine Connolly

Ceist:

564. Deputy Catherine Connolly asked the Minister for Rural and Community Development if the review of the dormant accounts disbursement scheme, recommended by the Comptroller and Auditor General (details supplied) will evaluate the appropriateness of the amount set aside in the fund as a statutory reserve; if this requirement can be fulfilled by some alternative arrangement for example insurance; and if he will make a statement on the matter. [13704/18]

Amharc ar fhreagra

Catherine Connolly

Ceist:

565. Deputy Catherine Connolly asked the Minister for Rural and Community Development if the review of the dormant accounts disbursement scheme, recommended by the Comptroller and Auditor General (details supplied) will consider the accounting methods that apply to the dormant accounts fund in which each disbursement, while not taxpayer funded is accounted as a loss to the line department and as a diminution of the resources available to the Exchequer; and if he will make a statement on the matter. [13705/18]

Amharc ar fhreagra

Catherine Connolly

Ceist:

566. Deputy Catherine Connolly asked the Minister for Rural and Community Development if the review of the dormant accounts disbursement scheme recommended by the Comptroller and Auditor General (details supplied) will consider whether reclaims from the fund will continue to be provided for by way of reserve rather than for example to taking an insurance policy; and if he will make a statement on the matter. [13706/18]

Amharc ar fhreagra

Catherine Connolly

Ceist:

568. Deputy Catherine Connolly asked the Minister for Rural and Community Development if the review of the dormant accounts disbursement scheme recommended by the Comptroller and Auditor General (details supplied) will consider the reasons for the low level of disbursements; if allocating funds to measures which do not fully use the resources prevents other programmes from being funded; and if he will make a statement on the matter. [13708/18]

Amharc ar fhreagra

Catherine Connolly

Ceist:

569. Deputy Catherine Connolly asked the Minister for Rural and Community Development if the review of the dormant accounts disbursement scheme recommended by the Comptroller and Auditor General (details supplied) will consider if the public profile of the fund has diminished since the abolition of the dormant accounts board; and if he will make a statement on the matter. [13709/18]

Amharc ar fhreagra

Catherine Connolly

Ceist:

573. Deputy Catherine Connolly asked the Minister for Rural and Community Development if the review of the dormant accounts disbursement scheme recommended by the Comptroller and Auditor General (details supplied) will consider if funds dormant since for example the early nineteenth century should continue to be considered in the same way as funds dormant for 16 years or within the lifetime of persons currently living; and if he will make a statement on the matter. [13713/18]

Amharc ar fhreagra

Freagraí scríofa

I propose to take Questions Nos. 562, 564 to 566, inclusive, 568, 569 and 573 together.

I refer to the reply to Question No. [530] and Question Nos [531-535] of 8 March, which outlines the position with regard to the review of the Dormant Accounts Disbursement Scheme 2013-2016.

These replies outlined that the Comptroller and Auditor General's report contained a single recommendation that the statutory review of the Disbursement Scheme should be carried out to identify how well the scheme was implemented and how future schemes can be designed to ensure the scheme objectives are met. The report also stated that the review should consider the reasons for the low level of disbursements, whether allocating funds to measures which do not fully use the resources prevent other programmes from being funded, and how the available funding can be best applied.

The replies also noted that following the transfer of the relevant functions to my Department in July 2017, my Department is now undertaking the statutory review, which will be completed by the end of June 2018. The key focus of the review is to addresses the points raised by the Comptroller and Auditor General and to ensure that the significant resources currently available from the fund are used in an efficient and effective manner.  The review will also identify and consider wider and longer term issues, including how to best ensure the long term sustainability of the Dormant Accounts Fund, and public awareness of the Fund . 

Where issues such as the accounting methods or accounting procedures are found to negatively impact on the administration and overall effectiveness of the fund, my Department will liaise with other relevant stakeholders, including the Department of Public Expenditure and Reform and the National Treasury Management Agency, to ensure that the impact of these issues can be mitigated.

However, it would not be appropriate, at this stage, to speculate on the possible conclusions of the review.

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