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Jersey Harbours - La Collette Fuel Tanker Berth Electrical System Upgrade Project: Approval of additional funds from Jersey Harbour Trading Fund

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A decision made 1 May 2015:

Decision Reference: MD-E-2015-0035 

Decision Summary Title:

DS - Additional Funds from Trading Fund re Jersey Harbours La Collette Fuel Tanker Berth Electrical System Upgrade Project 

Date of Decision Summary:

 

09 April 2015

Decision Summary Author:

Deputy Director Business Resources  

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title:

WR - Additional Funds from Trading Fund re Jersey Harbours La Collette Fuel Tanker Berth Electrical System Upgrade Project 

Date of Written Report:

09 April 2015

Written Report Author:

Deputy Director Business Resources 

Written Report :

Public or Exempt?

Qualified Exempt: Article 35

Subject: Approval for use of Jersey Harbours Trading Fund for Jersey Harbours La Collette Fuel Tanker Berth Electrical System Upgrade Project 

Decision(s):

  1. The Minister approved additional expenditure of £250,000 re Jersey Harbours La Collette Fuel Tanker Berth Electrical System Upgrade Project and;
  2. Requested approval from the Minister of Treasury and Resources for this to be funded from the Jersey Harbour Trading Fund.

Reason(s) for Decision:

  1. Regulation 22 (2) b of the Public Finances (Transitional Provisions) (No 2) (Jersey) Regulations 2005 provides that ‘Money standing to the credit of the trading fund of a States trading operation may also be used, with the approval of the Minister, for a capital project of the trading operation if – the project arises from a contingency that could not have been reasonably foreseen at the time the estimates of the States trading operation were submitted to the Minister in accordance with Article 8 of the 2005 Law for inclusion as part of the annual business plan.
  2. Direction 3.1, Administration of Trading Operations, requires the approval of the Minister for Treasury and Resources to transfer funds from the Trading Fund.

Resource Implications:

The available balance of the Jersey Harbour Trading Fund will be reduced by £250,000 and the Fuel Berth capital head of expenditure (X00BP08004) for Jersey Harbour will be increased by £250,000.  

Action required:

Head of Planning and Performance to request Treasury and Resources to transfer £250,000 from the Jersey Harbour Trading fund to the Jersey Harbours La Collette Fuel Tanker Berth Electrical System Upgrade Project under the Fuel Berth capital head of expenditure – X00BP08004.

Signature:

 

 

Position: Minister - Economic Development

Date Signed:

Date of Decision (If different from Date Signed):

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