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Underspends 2022: Transfer to 2023

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A decision made 7 July 2023:

Decision Reference:  MD-TR-2023-451

Public

Subject: Transfer of 2022 unspent amounts to 2023

 

Report Title: Transfer of 2022 unspent amounts to 2023

Public

Decision(s):

The Minister for Treasury and Resources decided to approve transfers of 2022 unspent amounts to 2023, under Articles 15 and 19 of the Public Finances Law 2019.

Reason for Decision(s):

In light of known and potential funding pressures for 2022 the Minister approved the transfer of net departmental underspend and unspent sums on the Reserve in 2022 to the Reserve in 2023 whilst also allowing an amount to be released to the Consolidated Fund to minimise the borrowing requirements for Covid-19 and the Fiscal Stimulus Fund and support the repayment of debt. Following further reviews of heads of expenditure the Minister approved certain other transfers, as set out in the Written Report.

Resource Implications: This decision will result in various transfers of unspent amounts in 2022 to the Reserve in 2023, and subsequent allocation of some of those amounts.    In 2023, following all of the above transfers, reserve heads of expenditure will increase by £56,947,263. Departmental heads of expenditure will increase by £6,280,768 and project heads of expenditure will increase by £11,410,619.

 

Action Required: The Head of Financial Governance to advise the Specialist - Business Cases that this decision is approved

Signature:

 

 

Signed By: Minister for Treasury and Resources

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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