Jersey Reclaim Fund (FOI)Jersey Reclaim Fund (FOI)
Produced by the Freedom of Information officeAuthored by Government of Jersey and published on
29 October 2024.Prepared internally, no external costs.
Request
Please can you provide a statement showing the following information in relation to the Jersey Reclaim Fund:
1. the amounts received each year since the Fund's inception and the source of such income;
2. the amounts disbursed each year since the Fund's inception, showing to whom the payments were made;
3. the balance remaining in the Fund as at 31 December 2023.
Response
1.
The table below illustrates balances that were received from banks and relate to identified qualifying dormant balances.
| Year | Funds received from Banks |
| 2017 | £ 7,735,207
|
| 2018 | £ 8,554,525 |
| 2019 | £ 2,124,959 |
| 2020 | £ 646,965 |
| 2021 | £ 10,713,589 |
| 2022 | £ 9,747,536 |
| 2023 | £ 3,634,183 |
| Total | £ 43,156,964
|
2.
The table below illustrates disbursements from the Fund and to whom the disbursements were paid.
| Year | Reclaims from Banks | Amounts disbursed to the Jersey Community Foundation | Amounts disbursed to the Charity Commissioner |
| 2017 | £ - | £ - | £ - |
| 2018 | £ - | £ - | £ - |
| 2019 | £ 41,255 | £ - | £ - |
2020
| £ 139,781 | £ 538,721 | £ 191,852 |
| 2021 | £ 59,322 | £ 1,096,125 | £ 208,000 |
| 2022 | £ 17,714 | £ 560,050 | £ 171,727 |
| 2023 | £ 496,401 | £ 1,000,000 | £ 236,216 |
| Total | £ 754,473 | £ 3,194,896 | £ 807,795 |
3.
The net balance of the Fund as at the 31 December 2023 is nil, however this includes a provision recognising all funds will be distributed for charitable purpose or held to meet potential reclaims from Banks.
Excluding this provision the net balance of the Fund is £42.385 million.
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