Dáil Éireann Debate, Wednesday - 26 March 2025
275. Deputy Maeve O'Connell asked the Minister for Rural and Community Development if the criteria under which dormant accounts funding may be disbursed could be reviewed; and if he will make a statement on the matter. [14366/25]
Amharc ar fhreagra276. Deputy Maeve O'Connell asked the Minister for Rural and Community Development if he is satisfied that Departments with smaller annual budgets can access funding from the dormant accounts fund given the method of spending and subsequent recoupment that is in operation; and if he will make a statement on the matter. [14367/25]
Amharc ar fhreagraI propose to take Questions Nos. 275 and 276 together.
The main purpose of the Dormant Accounts Acts is to reunite account holders with their funds. Unclaimed funds are transferred to the Dormant Accounts Fund, which is managed by the National Treasury Management Agency. The beneficial owner has a right to reclaim their money at any time.
Legislation governing Dormant Accounts established an administrative framework within which Departments could apply for funding from the Dormant Accounts Fund. Since July 2017 the Minister for Rural and Community Development has held responsibility for this function. Under this administrative framework a 3-year high level Disbursement Scheme is put in place, which indicates broad areas for support. Annual Action Plans are developed each year which approve funding for specific measures or projects.
A Disbursement Scheme is put in place every 3 years setting out guiding principles for disbursements and priority areas under the headings economic and social disadvantage, educational disadvantage, and persons with a disability. A new Disbursement Scheme will be drafted for 2026-2028 following completion of a review of the existing scheme. However, any criteria for funding must relate to the provisions of the legislation, with all funding targeting the objectives set down in the Act.
In May/June of each year Departments are asked to submit applications for inclusion in the following year’s Action Plan. A draft Action Plan is approved in September to aide Departments in their budget negotiations. A final Action Plan is agreed after the Budget once funding certainty is achieved.
My Department published the 2025 Dormant Accounts Fund Action Plan in November 2024. It outlines measures and funding across 10 Departments, with total funding of €44.8 million to support 51 measures. The programmes and projects in the Action Plan target social, economic and educational disadvantage, and people with a disability - in line with the objectives detailed in the legislation.
My Department operates an Interdepartmental Steering Group so as to ensure funding is put to best use, pressures in terms of funding need are understood across Departments, and any particular challenges are considered when developing Action Plans. Progress on Departmental spend is also discussed at a high level. The level of participation across Government, including by Departments with smaller annual budgets, demonstrates the accessibility of the funding.
Further information on the Dormant Accounts Fund, including all published Action Plans and Annual Reports, and the current Disbursement Scheme for 2023-2025 is available on my Department’s website at the following link: www.gov.ie/en/collection/769773-dormant-accounts-fund-annual-action-plans-and-reports/
