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L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

Transfer of Budget between Heads of Expenditure to settle pre1987 PECRS Debt

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

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  • demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision

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A decision made on 13 June 2014

Decision Reference:           MD-H-2014-0035

Decision Summary Title :

DS - Transfer of Budget between Heads of Expenditure to settle pre1987 PECRS Debt

Date of Decision Summary:

12th June 2014

Decision Summary Author:

 

Finance Director

Decision Summary:

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title :

WR - Transfer of Budget between Heads of Expenditure to settle pre1987 PECRS Debt

Date of Written Report:

12th June 2014

Written Report Author:

Finance Director

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject: Transfer of Budget between Heads of Expenditure to settle pre1987 PECRS Debt

Decision(s):

The Minister approved the transfer of £1,908,619 from the Housing Capital Rolling Vote to Housing Revenue head of expenditure in order to settle the Pre1987 PECRS debt.

Reason(s) for Decision:

 In order for to comply with the requirements of Article 8 of the Social Housing (Transfer) (Jersey) Law 2013 and for Andium Homes Limited to be accepted as an admitted body to the Public Employees Contributory Retirement Scheme, the Pre1987 debt must be settled by the 30th June 2014. As there are no funds available in the Housing Revenue Head of Expenditure for this purpose this transfer enables that settlement to be made. 

Resource Implications: The Housing Capital Rolling Vote to reduce by £1,908,619 and the Housing Revenue head of expenditure to increase by an identical amount.

 

Under article 18(1)(a) of the Public Finances (Jersey) Law 2005 the Minister for Treasury and Resources can approve transfers of budget between Heads of Expenditure where such a transfer is required to comply with Accounting Standards.

Action required:

Finance Director to liaise with the Treasury and Resources Department to obtain the Minister for Treasury and Resources’ approval for a transfer between Heads of Expenditure and then to arrange settlement of the liability.

Signature:

 

 

Position:

Minister

 

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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