§ Sue DoughtyTo ask the Secretary of State for Culture, Media and Sport if she will make a statement on the distribution of the reserve funds for National Lottery good causes in the last two years; and if she will make a statement. [55015]
§ Mr. CabornFunds generated by the National Lottery for good causes are held in the National Lottery Distribution Fund (NLDF), until distributing bodies need to draw them down to meet expenditure incurred by grant recipients. Under Government accounting rules, and under their financial directions, distributing bodies may not draw down moneys from the NLDF in advance of need. Any interest earned on money held in the NLDF is added to the amount available for distribution to good causes.
303WCommitments by distributing bodies collectively at 31 March 2002 totalled £4.12 billion, some £568 million more than was in the overall NLDF balance (£3.55 billion). This compares with commitments of £3.66 billion at 31 March 2001; £212 million more than the total NLDF balance at the same date (£3.45 billion).