Jersey Finance Limited: Grant

Information about the publication of Ministerial Decisions

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 on 1 October 2012:

Decision Reference: MD-TR-2012-0084
Decision Summary Title:	Budget Transfer from Central Reserves to EDD for Jersey Finance Ltd		Date of Decision Summary:	26th September 2012
Decision Summary Author:	Head of Financial Management, Accounting and Reporting		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	Budget Transfer from Central Reserves to EDD for Jersey Finance Ltd		Date of Written Report:	26th September 2012
Written Report Author:	Decision Support Officer		Written Report : Public or Exempt?	Public
Subject: The supplementation of the current grant to JFL to enable comprehensive research to be undertaken into what is needed to safeguard the finance industry's contribution to the overall prosperity of the Island, against the background of the many challenges arising from the global financial crisis (see the accompanying Ministerial Report). The supplement is in the form of a non-recurring budget transfer in 2012 of £990,000 from Central Reserves (one off) to the Economic Development Department (EDD) revenue head of expenditure, the sum then to be forwarded to Jersey Finance Ltd (JFL) by way of an onward grant.
Decision(s): The Minister approved a non-recurring budget transfer in 2012 of £990,000 from Central Reserves (One off) to the EDD revenue head of expenditure.
Reason(s) for Decision: Article 2(6) of the Public Finances (Transitional Arrangements) (Jersey) Order 2011 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: The Central Reserves (One off) to reduce by £990,000 and the EDD revenue head of expenditure to increase by an identical amount. This decision does not change the total amount of expenditure approved by the States.
Action required: Head of Financial Management, Accounting and Reporting to inform the Assistant Accountant, Financial Accounting and Control and the EDD Management Accountant that this decision has been approved.
Signature:		Position: Senator P F C Ozouf, Minister for Treasury and Resources
Date Signed:		Date of Decision: