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

Approval - Treasury and Resources 2008 carry-forward budget

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A decision made (28/09/2009) regarding: Approval - Treasury and Resources 2008 carry-forward budget.

Decision Reference:  MD-TR-2009-0155

Decision Summary Title:

Allocation of 2008 T&R carry forward budget

Date of Decision Summary:

8th September 2009

Decision Summary Author:

Finance Director: Corporate Group

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title:

Allocation of 2008 T&R carry forward budget

Date of Written Report:

8th September 2009

Written Report Author:

Finance Director: Corporate Group

Written Report :

Public or Exempt?

Public

Subject:

Approval for the allocation of the Treasury & Resources 2008 carry forward budget.

Decision(s):

The Minister approved the allocation of the Treasury & Resources 2008 carry forward budget as detailed in the attached written report.

Reason(s) for Decision: MD-TR-2009-061 allocated £928,764 to Treasury and Resources from the 2008 carry forward under-spends but did not provide a breakdown of how the budget would be allocated within the Department. This Ministerial Decision provides this detail.

Resource Implications: None other than those detailed in the attached report.

Action required:

Finance Director, Corporate Group to advise Corporate Finance to action the necessary budget adjustments to reflect the decision.

Signature: 
 
 

Position: Senator  P F C Ozouf, Minister for Treasury and Resources 

                 

Date Signed:

Date of Decision:

Approval - Treasury and Resources 2008 carry-forward budget

TREASURY AND RESOURCES MINISTER  

Allocation of 2008 t&r carry forward budget

 

  1. Purpose of Report

To seek approval for the allocation of the Treasury and Resources 2008 carry forward budget. 

  1. Background

MD-TR-2009-061 allocated £928,764 to Treasury and Resources from the 2008 carry forward under-spends. 

In addition, as per the Ministerial Decision, the unspent balance of £43,186 from the £597,318 allocated to Economic Development for compensation payments, has been transferred to Treasury and Resources.  

Treasury and Resources therefore has a total budget of £971,950 to allocate. 

  1. Comments

The proposed allocation of the £971,950 budget is as follows:

  • £80,000 to support funding the Fiscal Policy Panel.
  • £150,000 for compliance and maintenance works for Jersey Property Holdings.
  • £741,950 for specialist advice/additional staffing within Treasury & Resources, which includes work on the Fiscal Strategy, Utilities Review, Common Investment Fund and developing financial management.

   

  1. Recommendation

To enable Treasury and Resources to meet its objectives, it is recommended that the Treasury and Resources Minister approve the proposed allocation of funding, as detailed above.  

  1. Reason for Decision

MD-TR-2009-061 approving 2008 year end carry forwards did not provide a breakdown of how the budget would be allocated within the Treasury and Resources Department. A further Ministerial Decision to provide this detail is therefore being actioned.  
 
 
 

Loretta Outhwaite

Finance Director: Corporate Group

08.09.09

 

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