Budget Transfer: Capital Economics Study: Jersey Finance Ltd

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A decision made 16 May 2013:

Decision Reference: MD-TR-2013-0027
Decision Summary Title:	T&R Corporate Contingency Funding to EDD for Capital Economics Study		Date of Decision Summary:	13th May 2013
Decision Summary Author:	Director of Financial Planning and Performance		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	T&R Corporate Contingency Funding to EDD for Capital Economics Study		Date of Written Report:	13th May 2013
Written Report Author:	Director of Financial Planning and Performance		Written Report : Public or Exempt?	Public
Subject: Non-recurring budget transfer in 2013 of £34,450 in relation to the Capital Economics study, the sum then to be forwarded to Jersey Finance Ltd. (JFL) by way of an onward grant.
Decision(s): The Minister approved a non-recurring budget transfer in 2013 of £34,450 from the Treasury and Resources (T&R) Corporate Contingency to the Economic Development Department (EDD) revenue head of expenditure in order for EDD to be able to award an onward grant to JFL for work in relation to the Capital Economics study.
Reason(s) for Decision: Article 2(6) of the Public Finances (Transitional Arrangements) (Jersey) Order 2011 states that all or any part of the amount appropriated by a head of expenditure may, with the approval of the Minister for Treasury and Resources, be used for the purposes of another head of expenditure.
Resource Implications: T&R Corporate Contingency to decrease by £34,450 in 2013 and the EDD revenue head of expenditure to increase by an identical amount. This decision does not change the total amount of expenditure approved by the States.
Action required: Business Manager to inform the Financial Performance Reporting Manager and the Management Accountant, EDD that this decision has been approved.
Signature:		Position: Senator P F C Ozouf, Minister for Treasury and Resources
Date Signed:		Date of Decision: