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

Asbestos Cell Costs: Budget Transfer - GAAP Accounting

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.

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  • 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

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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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 23 September 2011 regarding:

Decision Reference: MD-T-2011-0091

Decision Summary Title :

Transfer From Revenue To Capital Heads of Expenditure for Asbestos Cell costs

Date of Decision Summary:

16 September 2011

Decision Summary Author:

 

Capital Accountant

Decision Summary:

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title :

Transfer From Revenue To Capital Heads of Expenditure for Asbestos Cell costs

Date of Written Report:

16 September 2011

Written Report Author:

Senior Management Accountant

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject:  Internal budget transfer from revenue to capital heads of expenditure amounting to £260,000 for the creation of an asbestos storage cell, as a result of GAAP accounting.

 

Decision(s):  The Minister for Transport and Technical Services approved a budget transfer from revenue to capital totalling £260,000 as set out in the supporting document.

 

Reason(s) for Decision:  The original budget for the project was approved as a revenue budget only and did not take into consideration any capital expenditure. These budget transfers are required to align the budgeting treatment of expenditure with the GAAP accounting treatment.

 

Resource Implications:  Other than those detailed in the report there are no further financial or manpower implications.

 

Action required:  The Finance Director to request the Minister for the Treasury and Resources Department to approve the budget transfer from revenue to capital and the creation of a new capital head of expenditure as referred to in the accompanying report.

 

Signature:

 

Position:

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

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