By Earl Moxam , Senior Gleaner WriterTHE CHASE Fund "dedicated to financing activities in the fields of Culture, Health, Arts Sports and Early Childhood Education" has collected $556.7 million from the two lottery companies since the start of the year.
Of that amount, approximately $275 million has already been approved for disbursement and $197.6m actually allocated, Information Minister Burchell Whiteman told the Senate on Friday.
Some sporting bodies and cultural groups have, since the CHASE Fund was established, expressed impatience at the slow pace of disbursement in some instances. Senator Whiteman responded in part to that concern.
"The reason for the difference between collection and disbursement is simply that there's a process for considering applications and that there is often a time lag between the applications being made and the disbursement, which is often on a phased basis," he said.
Overall, the Leader of Government Business in the Senate told the Upper House that $477 million had been disbursed since the CHASE Fund was established in 2002. Mr. Whiteman provided these figures while piloting a Bill amending the Betting, Gaming and Lotteries Act.
OBJECTIVES
The amendments, he said, were aimed at achieving several objectives: controlling the conduct of prize competitions in the print and electronic media; increasing the membership of the Board of the CHASE Fund to a maximum of 12, making it more representative of the areas receiving money; and increasing the penalties for breaches of the Act, such as illegal gambling activities.
The membership of the CHASE Board, which sets the policies, receives applications and monitors how the funds are used, includes government representatives and representatives from the Opposition, and the sectors involved.
"It was thought necessary to increase the membership to ensure that all relevant sectors are represented, including the youth, as well as persons with legal expertise," Senator Whiteman explained.
