Dormant accounts will not aid the disadvantaged
According to a department spokesperson, next yearâs dormant account allocations will be used to pay outstanding commitments.
Examples of previously funded programmes include Traveller initiatives, recreation measures for young people, funding for the homeless, suicide prevention and substance misuse.
Funding under the CLĂR programme, a targeted investment programme in rural areas, has also been reduced by 94% for next year, from âŹ8 million down to âŹ500,000.
According to the department, while the programme will be provided with funds to complete existing commitments, there will be little scope for any new projects in 2011. It pointed out the high level of funding under the rural development programme â âŹ62m has been allocated in 2011 in comparison to âŹ40m in 2010 â will allow for projects previously funded under CLĂR to be progressed.
The CLĂR programme has in the past supported physical, economic and social infrastructure in rural areas of special disadvantage across a variety of measures, such as electricity conversion, roads, water and sewage, village, housing and schools enhancement, health, coastal and sports and community projects.
The value of dormant account funding at the end of September this year was âŹ62.4m.
In light of the reduced level of funds available for disbursement from the fund the government decided to dissolve the Dormant Accounts Board and make appropriate arrangements for the transfer its functions to the DCEG.
âIn this context, the priority in relation to dormant accounts funding in the current climate must be to ensure that existing contractual commitments can be met, and that will be the focus in the medium term,â a spokesperson said.