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

Reserve Funding: Allocation for Pressures in 2024

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A decision made 13 September 2024:

Decision Reference:  MD-TR-2024-689

Public

Subject: Allocation of Reserve Funding for Pressures in 2024

 

Report Title: WR - Allocation of Reserve Funding for Pressures in 2024

Public

Decision(s):

The Minister for Treasury and Resources approved the allocation of up to £2,947,000 in 2024 from the Central Reserve – Reserve for Centrally Held items to various Heads of Expenditure for identified pressures.

Reason for Decision(s):

Article 15(3) of the Public Finances (Jersey) Law 2019 states that the approval by the States of a Government Plan authorises the Minister to direct how an approved appropriation for a reserve head of expenditure in the plan may be spent (including on another head of expenditure) in the first financial year covered by the plan.  The current Policy for Allocations from the Reserve, presented to the States Assembly as R.76/2022, sets out the requirements for allocations from the Reserve for Centrally Held Items. These requirements have been met and the Treasurer now recommends these allocations to the Minister for Treasury and Resources for approval.

Resource Implications: In 2024, the following Heads of Expenditure will increase: - Children, Young People, Education and Skills by up to £1,611,000. - Infrastructure by up to £1,336,000. In 2024, the Central Reserve Head of Expenditure will decrease by up to £2,947,000.  This decision does not change the total amount of expenditure approved by the States in the Government Plan 2024-27.

 

Action Required: The Head of Financial Governance to advise the Head of Investment Appraisal 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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