Equine Centre received €123,000 under disbursements of funds scheme

CHERRY Orchard Equine Centre received €123,200 in funding under a scheme for the disbursement of funds that are unlikely to be reclaimed from dormant accounts.

Published this week by the Department of Rural and Community Development, the 2022 Dormant Accounts Fund, targets social inclusion measures, and has provided a total of €728,000 to support community organisations addressing disadvantage.

According to the report, funding for the equine centre has assisted the “financial sustainability of a vital community resource and supported multiple events taking place in 2022”.

This included community events, cultural events, Easter activities for children and an equine open day which included a focus on career opportunities.

The Dormant Accounts Acts, together with the Unclaimed Life Assurance Policies Act, provide a framework for the administration of unclaimed accounts in credit institutions (banks, building societies and An Post) and unclaimed life assurance policies in insurance undertakings.

The scheme disperses funds that are unlikely to be reclaimed from dormant accounts and unclaimed policies to assist personal and social development groups, the educationally disadvantaged or persons with a disability.

Speaking at the launch of the report, Minister of State Joe O’Brien said: “I am particularly happy to see a continued focus in 2022 on assisting the Traveller and Roma communities, for example Department of Education and the Department of Children, Equality, Disability, Integration and Youth initiatives for that community.”

Total expenditure from Dormant Account Fund in 2022 was €54.6 million for 46 measures across 10 Departments. The Annual Report provides information on these measures and also detailed three case studies of measures/projects funding in 2022.

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