Transfer of funds from revenue to capital: Approval request

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A decision made on 7 December 2009 to request the approval of Treasury and Resources in relation to budget transfers from revenue to capital

Decision Reference: MD-ESC-2009-0021
Decision Summary Title:	Victoria College, Jersey College for Girls and associated Preparatory Schools – transfer from revenue to capital		Date of Decision Summary:	25th November 2009
Decision Summary Author:	Assistant Director - Finance		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	n/a
Written Report Title:	Victoria College, Jersey College for Girls and Preparatory Schools – Revenue to Capital transfer of funds.		Date of Written Report:	15th November 2009
Written Report Author:	Assistant Director - Finance		Written Report : Public or Exempt?	Public
Subject: Victoria College and Jersey College for Girls and associated Preparatory Schools – transfer of funds from revenue to capital.
Decision(s):In respect of the following, all in accordance with Financial Direction No3.6 ‘Variations to Heads of Expenditure’, the Minister decided to request the approval of the Treasury and Resources Minister that funds amounting to £100,000 in respect of Victoria College; £35,000 in respect of Victoria College Preparatory School; £166,000 in respect of Jersey College for Girls; and £102,000 in respect of Jersey College for Girls Preparatory School be transferred from revenue to capital.
Reason(s) for Decision: To allow the schools to use revenue funds for the purpose of completing a number of unfunded capital projects.
Resource Implications: No resource implications other than the transfer of £403,000 from revenue to capital.
Action required: Instruct the Assistant Director – Finance to request the Treasurer of the States to request approval from the Treasury and Resources Minister to action the transfer from revenue to capital and to inform the Department of whatever further approvals may be required.
Signature:		Position: Minister for Education, Sport and Culture
Date Signed:		Date of Decision: