Skip to main content Skip to accessibility
This website is not compatible with your web browser. You should install a newer browser. If you live in Jersey and need help upgrading call the States of Jersey web team on 440099.
Government of Jerseygov.je

Information and public services for the Island of Jersey

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

Community Savings Limited: 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.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

  • 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

  • providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made 26 May 2017:

Decision Reference: MD-TR-2017-0069

Decision Summary Title:

Grant Payment to Community Savings Ltd

Date of Decision Summary:

22nd May 2017

Decision Summary Author:

 

Finance Director, Corporate Group

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

 

N/A

Written Report

Title :

Grant Payment to Community Savings Ltd

Date of Written Report:

22nd May 2017

Written Report Author:

Finance Director, Corporate Group

Written Report :

Public or Exempt?

 

Public

Subject:

Transfer from T&R Corporate Contingency into the Treasury and Resources Department (T&R) revenue head of expenditure in the amount of £17,335 and authorisation of a grant in the same amount to Community Savings Ltd.

Decision(s):

The Minister approved a transfer from T&R Corporate Contingency into the T&R revenue head of expenditure in the amount of £17,335 and authorised a grant in the same amount to Community Savings Ltd.

Reason(s) for Decision:

To enable the Treasurer of the States, as Accounting Officer for the Treasury and Resources Department, to make a grant payment of £17,335 to Community Savings Ltd from the Treasury and Resources revenue head of expenditure.

 

Article 18(1) (c) of the Public Finances (Jersey) Law 2005 states that all or any part of the amount appropriated by a head of expenditure may, with the approval of the Minister for Treasury and Resources, be used for the purposes of another head of expenditure.

 

Resource Implications:

T&R Corporate Contingency to decrease by £17,335 and the T&R revenue head of expenditure to increase by an identical amount to enable an onward grant payment to Community Savings Ltd. This decision does not change the total amount of expenditure approved by the States.

Action required:

The Head of Decision Support to advise the Finance Director of the Corporate Group that this decision is approved.

Signature:

Position:

Senator A J H Maclean

Minister for Treasury & Resources

Date Signed:

Date of Decision (If different from Date Signed)

 

Community Savings Limited: Grant

 - 1 -

Treasury and Resources

Ministerial Decision Report

 

 

 

Grant Payment to Community Savings Ltd

 

 

  1. Purpose of Report

To request that the Minister approves a transfer from T&R Corporate Contingency into the Treasury and Resources Department (T&R) revenue head of expenditure in the amount of £17,335 and a grant in the same amount to Community Savings Ltd.

 

 

  1. Background

Community Savings Ltd is a Jersey incorporated company established along the lines of a UK Credit Union, and specifically exempted as a deposit taking business as defined under the Banking Business (Jersey) Law 1991.  The enterprise is a not for profit organisation, funded by charitable donations.

The concept of establishing Community Savings Ltd in Jersey started in 1996 following the UN Eradication of Poverty initiative leading to the concept being finally approved by the Jersey Financial Services Commission in 2001.  Since then but particularly since 2007, following being allowed to operate at the Parish of St. Helier’s premises at Seale Street, business has expanded by around 100% year on year.

The principle activity of the company is that of the provision of basic banking facilities, help with budgeting and, in certain circumstances, emergency funding loans and grants to the general public.

In order to operate Community Savings has to maintain a level of financial control acceptable to the Jersey Financial Services Commission and at the same time is obliged to comply with most aspects of UK Credit Union legislation.  In addition necessary operating costs are incurred in order to offer an effective service for community groups and customers that it supports; rent; utilities; stationery, staff costs and rent payable to the Parish of St Helier.

The company’s main source of income is charitable donations and it attempts to keep operating expenditure low by using a volunteer workforce where possible. However, it has been accepted that this source of funding remains volatile and to that extent for each of the years 2013, 2014 and 2015 the Minister for Treasury and Resources awarded grants of £50,000 from the Treasury and Resources head of expenditure with the aim of ensuring the company had sufficient funding to enable the expansion of its operations and awareness programme.

For 2016 the Minister agreed to cover any operating deficit up to a maximum of £50,000 for the Company’s financial year to 31 October 2016 with any remaining balance permitted to be carried forward to cover operating deficits associated with the financial year to 31 October 2017.

Community Savings Ltd has furnished Treasury and Resources with signed company accounts for the year to 31 October 2016 in which an operating deficit of £17,335 is offset as a debtor.  This means up to £32,665 should be made available for any deficit incurred in 2017.

 

3. Recommendation

The Minister is recommended to approve:

  • A transfer from Treasury and Resources Corporate Contingency into the Treasury and Resources Department revenue head of expenditure in the amount of £17,335;
  • the onward authorisation of a grant payment in the same amount to Community Savings Ltd to assist with their shortfall in 2016; and
  • the earmarking of up to £32,665, representing the balance of the £50,000 grant budget for 2016 and 2017, to cover any deficit incurred by Community Savings Ltd in their fiscal year 2017.

 

 

4.   Reason for Decision

To enable the Treasurer of the States, as Accounting Officer for the Treasury and Resources Department, to make a grant payment of £17,335 to Community Savings Ltd from the Treasury and Resources revenue head of expenditure.

 

Article 18(1) (c) of the Public Finances (Jersey) Law 2005 states that all or any part of the amount appropriated by a head of expenditure may, with the approval of the Minister for Treasury and Resources, be used for the purposes of another head of expenditure.

 

5.  Resource Implications

Treasury and Resources Corporate Contingency to decrease by £17,335 and the Treasury and Resources revenue head of expenditure to increase by an identical amount to enable an onward grant payment to Community Savings Ltd. This decision does not change the total amount of expenditure approved by the States.

 

 

 

 

Report author : Finance Director, Corporate Group

Document date 22 May 2017

Quality Assurance / Review : Head of Decision Support

File name and path: L:\Treasury\Sections\Corporate Finance\Ministerial Decisions\DS, WR and SD\2017-0069 - Community Savings grant

MD sponsor : Director of Financial Planning and Performance

 

Back to top
rating button