​​The Minister for Treasury and Resources, Senator Philip Ozouf, has published the States of Jersey’s 2009 accounts.

The key points in the accounts are:

• States Net General Revenue was £674 million in 2009 – that’s £20 million more than forecast. This is due to income tax receipts, which at £508 million are higher than the forecast of £488 million
• investment income has dropped 54% since 2008
• departments ended the year £7.6 million under spent - mostly due to delays in implementing various projects
• there was a net surplus of £71 million compared to the surplus originally forecast of £55 million. Although this will help cushion the island against the effects of the downturn, it is not sustainable in the longer term
• underlying, recurring expenditure was up 3% on 2008 – accounted for by inflation and various service improvements (agreed by the States Assembly in 2009 business plan)
• there was extra, unbudgeted spending of £12.7 million – to fund items like the ending of the Reciprocal Health Agreement, the Williamson plan for vulnerable children, the Historic Child Abuse Enquiry and Pandemic Flu preparations
• there were net assets of nearly £1.6 billion - including £550 million held in the Strategic Reserve
• these figures include £104 million spent on capital projects – including Energy from Waste plant (£67 million)