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

Funds transfer for Jersey Finance Limited supplementary grant.

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.

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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 (19/01/2009) regarding: Funds transfer for Jersey Finance Limited supplementary grant.

Decision Reference:  MD-TR-2009-0007

Decision Summary Title:

Funds transfer for Jersey Finance Ltd supplementary grant

Date of Decision Summary:

14th January 2009

Decision Summary Author:

Loretta Outhwaite: Finance Director

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

n/a

Written Report

Title:

Funds transfer for Jersey Finance Ltd supplementary grant

Date of Written Report:

14th January 2009

Written Report Author:

Loretta Outhwaite

Finance Director

Written Report :

Public or Exempt?

Public

Subject: 

Transfer of £270,000 capital from the Economic Growth Plan to Economic Development’s revenue budget to fund the award of a supplementary Grant to Jersey Finance Limited.

Decision(s):

The Minister approved the non-recurring transfer of £270,000 capital budget from the Economic Growth Plan to Economic Development’s revenue budget for 2008.

Reason(s) for Decision:

In June 2008, through Ministerial Decision MD-E-2008-0120 the Economic Development Minister agreed to award Jersey Finance Ltd a supplementary grant of £505,000 from the Economic Growth Plan capital fund. Under UK GAAP rules the payments were treated as revenue expenditure and therefore charged against Economic Development’s revenue budgets, which now needs to be reimbursed £270,000 from the capital fund.

Resource Implications:

£270,000 in 2008 only.

Action required:

The Director of Finance to request that Treasury action the budget transfer in 2008.

Signature: 
 
 

Position: Senator PFC Ozouf, Minister for Treasury and Resources 

                 

Date Signed:   19th January 2009

Date of Decision:   19th January 2009

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