Treasury and Resources
Ministerial Decision Report
Contingency Funding to the Treasury and Resources Department for first stage in finance transformation
- Purpose of Report
To enable the Minister for Treasury and Resources to approve the transfer, to the Chief Minister’s Department revenue head of expenditure in 2018, of up to £480,000 from the £10.4 million of unspent budgets in 2017 that were transferred to Central Contingencies, to fund the first stage in finance transformation.
- Background
The transformation of the Finance Function will take several years. Early funding is required to finance a small team through the first phase of this wider programme, which will include leadership and planning, and the resource to develop improved investment and business case governance, alongside the work to develop the new structure for the Treasury and Exchequer Department. Change of this scale requires proper planning and support, including more detailed costing work and benefits articulation, and resource is required to support these activities.
This supports the next stage of implementing the vision for a modern, customer-focused, value-for-money and joined up public service.
- Recommendation
The Treasury and Resources Minister is recommended to approve the transfer, to the Chief Minister’s Department revenue head of expenditure in 2018, of up to £480,000 from the £10.4 million of unspent budgets in 2017 that were transferred to Central Contingencies, to fund the first stage in finance transformation.
- Reason for Decision
Article 17(2) of the Public Finances (Jersey) Law 2005 states that the Minister for Treasury and Resources is authorised to approve the transfer from contingency expenditure or the insurance fund of amounts not exceeding, in total, the amount available for contingency expenditure in a financial year.
- Resource Implications
The Chief Minister’s Department revenue head of expenditure to increase by up to £480,000 in 2018 and Central Contingencies to decrease by an identical amount. This decision does not change the total amount of expenditure approved by the States in the Medium Term Financial Plan 2016 to 2019.
The £480,000 in total is proposed to be drawn down in 2018, but unspent amounts will be available in 2019.
Report author : Head of Decision Support | Document date : 25th April 2018 |
Quality Assurance / Review : Director of Financial Planning and Performance | |
MD sponsor : Treasurer of the States |