Budget Transfer: Revenue to Capital Heads of Expenditure

Information about the publication of Ministerial Decisions

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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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A decision made on 9 December 2011:

Decision Reference: MD-T-2011-0122
Decision Summary Title :	Transfer Between Revenue And Capital Heads Of Expenditure as per GAAP Accounting Requirements		Date of Decision Summary:	06 December 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 Between Revenue And Capital Heads Of Expenditure as per GAAP Accounting Requirements		Date of Written Report:	06 December 2011
Written Report Author:	Capital 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 £112,879.50 for the correct treatment of expenditure, as a result of GAAP accounting.
Decision(s): The Minister for Transport and Technical Services approved a budget transfer from revenue to capital totalling £112,879.50 of expenditure as set out in the supporting document.
Reason(s) for Decision: The States of Jersey implemented Generally Accepted Accounting Principles (GAAP) in 2010. GAAP accounting requires that all expenditure meeting the GAAP definition of capital expenditure should be treated as such; other expenditure must be accounted for as revenue. These budget transfers are the movements in budgets between revenue and capital required to align the budgeting treatment of expenditure with the GAAP accounting treatment. This does not change the total amount of expenditure voted by the States
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 Treasury and Resources to approve the budget transfers from revenue to capital and capital to revenue as referred to in the accompanying report.
Signature:		Position:
Date Signed:		Date of Decision (If different from Date Signed):