Economic Stimulus: Budget allocation to Economic Development for grant to Durrell Wildlife Conservation Trust

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A decision made 1 July 2010 regarding: Economic Stimulus: Budget allocation to Economic Development for grant to Durrell Wildlife Conservation Trust.

Decision Reference: MD-TR-2010-0098
Decision Summary Title:	Discretionary Fiscal Stimulus – Economic Development Department Allocation – grant to Durrell Wildlife Conservation Trust		Date of Decision Summary:	22nd June 2010
Decision Summary Author:	Chief Executive		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	Fiscal Stimulus Funding to the Economic Development Department in respect of a grant award to Durrell Wildlife Conservation Trust		Date of Written Report:	22nd June 2010
Written Report Author:	Acting Fiscal Stimulus Programme Manager		Written Report : Public or Exempt?	Public
Subject: Economic Stimulus Plan: budget allocation to the Economic Development Department in relation to grant to Durrell Wildlife Conservation Trust.
Decision(s): The Minister approved the allocation of £1,500,000 to the Economic Development Department, in respect of a grant to be awarded to Durrell Wildlife Conservation Trust on a £1 for £1 matched funding basis, to be transferred to the department’s budget in 2010. The Minister further instructed the Chief Officer of EDD to report on spend of all stimulus monies, and project progress/performance, on a monthly basis in accordance with guidelines set by the Treasury and return any unspent grant monies, or repayments of the grant which may arise in the future if certain events take place, without limit in time.
Reason(s) for Decision: A discretionary fiscal stimulus allocation from the Stabilisation Fund of £44m has already been approved. The approved funding to EDD, totalling £1,500,000, will enable grant payments to be made to Durrell in accordance with the critical path for delivering this stimulus project on a timely basis.
Resource Implications: No financial resource implications other than those explained above and in the accompanying report. No manpower resource implications.
Action required: Treasury to be informed of decision to release necessary funds to the Economic Development Department budget.
Signature:		Position: Senator P F C Ozouf, Minister for Treasury and Resources
Date Signed:		Date of Decision: