Lost money for communities

02 August 2010

cashstock2 A new fund is coming to Scotland in 2010 and although the detail is still the subject of much wrangling it does look like it will be community focussed. This fund is being created as a result of The Dormant Bank and Building Society Account (Scotland) Order 2010 was approved by the Scottish Parliament on 30 June 2010.

This article follows on from an earlier article covered here in February which reported on the first Scottish Government consultation.

The purpose of the Order is to direct Scottish expenditure from dormant account monies to third sector organisations for services, facilities or opportunities which promote strong, resilient and supportive communities.

It is estimated that Scotland may receive around £12 million in each of the first 2 years and perhaps £1.5 million each year thereafter.

Now that the Parliament has approved the Order, the next step in the implementation process of the dormant accounts scheme is for Scottish Ministers to instruct BIG Lottery on the proposed priorities for the strategic plan for the distribution of dormant account monies in Scotland.

The Dormant Bank and Building Society Accounts Act requires Scottish Ministers to consult BIG BIG on the proposed policy directions before they are finalised and issued.

The policy directions are expected to instruct BIG Lottery to have regard to 4 broad policy themes which the Cabinet approved last July. These are:

Opportunities for children and young people
Addressing Health Inequalities through increased activities
Strengthening inter-generational connections
Creating community-based employment opportunities

The Dormant Bank and Building Society Accounts Act 2008 requires BIG Lottery to consult on the draft strategic plan before it is finalised so there will be an opportunity for all third sector organisations to influence, debate and shape that plan before it is finalised and adopted.

The Plan will then be sent to Scottish Ministers and will also be laid with the Scottish Parliament.

Allocations to third sector organisations are likely to be announced by the BIG Lottery in early 2011 with the first cash sometime in mid 2011.