Reserve fund cash transfers

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A decision made (10/04/2007) regarding: Reserve Fund Cash Transfers.

Subject:	Reserve Fund Cash Transfers
Decision Reference:	MD-S-2007-0026		Exempt clause(s):
Type of Report: (oral or written)	Written		Person Giving Report (if oral):	N/A
Telephone or e-mail Meeting?	No		Report File ref:
Written report – Title	Reserve Fund Cash Transfers
Written report – Author (name and job title)	Geoff Platts – Manager, Finance and Facilities, Corporate Services.
Decision(s): The Social Security Minister noted and approved the transfers of monies from the Social Security Fund to the Social Security Reserve Fund, totalling £45 Million, that have occurred between September 2005 and January 2007, in accordance with Article 31(1) of the Social Security (Jersey) Law 1974. Also, the Minister delegated authority and responsibility for making similar transfers of funds in the future to the Department’s Chief Officer.
Reason(s) for decision: The need for Ministerial approval for historic Reserve Fund cash transfers for 2005 to 2007. Also it would be desirable to delegate the responsibility for any future transfers to the Department’s Chief Officer, which will avoid the need for a Ministerial Decision to be sought for each and every occasion such transfers are deemed appropriate.
Action required: The Finance Officer to agree authorisation procedure for future Reserve Fund cash transfers.
Signature: Senator P.F. Routier - Minister		Date of Decision: 10 April 2007