TREASURY & RESOURCES MINISTER
Report on matters relating to Budget Management for the 6 month period to 30 th June 2008
1. The administration of the public finances of Jersey
In accordance with the Public Finances (Jersey) Law 2005 (the ‘Law’) (including Regulations approved under that Law and Financial Directions) certain matters relating to budgeting and to the financial control and administration of States trading operations are required to be reported to the States twice yearly by the Minister for Treasury and Resources (the ‘Minister’).
2. Reporting on Ministerial and delegated approvals
The areas of administration which are to be reported on are as follows:-
- The use of trading funds by States trading operations;
- Borrowing;
- Lending;
- Budget transfers; and
- Carry forward of revenue balances.
There is nothing to report on lending for the 6 month period ended 30th June 2008.
2.1 Use of trading funds
The following Ministerial Decisions on the use of trading funds were taken to 30th June:-
- a capital budget transfer of £320,000 from Passenger Coaches to the Air Traffic Control Centre, as a provision for inflation (Jersey Airport Trading Fund);
- a capital budget transfer of £52,000 from Aeronautical Transmitters to Airport Minor Capital Assets for the expansion of Hub2 (Jersey Airport Trading Fund);
- additional expenditure of £5,104,000 in respect of the refurbishment of the runway (Jersey Airport Trading Fund); and
- additional expenditure of £2,650 for a 25 tonne boat hoist (Jersey Harbour Trading fund);
2.2 Borrowing
During the 6 month period to 30th June no guarantees under the Small Firms Loan Guarantee Scheme (SFLGS) were approved by the Treasurer of the States. Under the terms of the scheme, the Economic Development Department underwrites up to 75% of the value of a loan. The total amount guaranteed under the SFLGS as at 31st December 2007 was £268,222.
The Jersey Student Loan Scheme commenced in September 2007. As at 30th June 2008, 136 students had taken out a loan with a total draw down value of £186,310. Terms with the intermediaries require the States of Jersey to underwrite 100% of the value of the loan.
2.3 Budget transfers
Budget transfers are reported on the following basis:-
- Transfers between revenue heads of expenditure;
- Transfers between capital heads of expenditure; and
- Transfers between revenue and capital heads of expenditure.
Budget transfers between departments vary the budgets of individual departments but are net nil in total.
2.3.1 Transfers between revenue heads of expenditure
Revenue transfers during the period ended 30th June 2008 amounted to £658,589 (Table (1) refers).
Table (1) Transfers between revenue
Department | £ | |
To | From |
CMD | T&TS | 10,250 | Statistics surveys |
CMD | P&E | 5,638 | Statistics surveys |
EDD | CMD | 2,112 | Transfer of staff recruitment advertising budget |
ES&C | CMD | 52,804 | Transfer of staff recruitment advertising budget |
H&SS | CMD | 190,093 | Transfer of staff recruitment advertising budget |
H Affairs | CMD | 31,670 | Transfer of staff recruitment advertising budget |
Housing | CMD | 3,168 | Transfer of staff recruitment advertising budget |
E&SS | CMD | 3,168 | Transfer of staff recruitment advertising budget |
T&TS | CMD | 2,112 | Transfer of staff recruitment advertising budget |
T&R | CMD | 866 | Transfer of staff recruitment advertising budget |
T&R | CMD | 65,277 | HR Staff transfer |
T&R (PHD) | EDD | 5,483 | Foreshore Lease |
H&SS | T&R | 55,678 | Finance support staff transfer |
ES&C | T&R | 15,000 | Finance support staff transfer (0.50 FTE) |
H Affairs | T&R (ITax) | 181,290 | GST staff transfer (3 posts) |
T&TS | T&R | 23,580 | Absence reporting staff transfer |
T&R (PHD) | T&TS | 10,400 | Architects software |
Total transfers | £658,589 | |
2.3.2 Transfers between capital heads of expenditure
Transfers between existing capital heads of expenditure amounted to £1,640,275 for the period (Table (2) refers). There were no transfers to new capital heads of expenditure during the period.
Table (2) Transfers between capital votes
Department | £ | |
To | From |
T&R (ITax) | T&R (Cap Res) | 657,275 | GST set-up/implementation |
T&R (PHD) | H&SS | 983,000 | Repayment by H&SS to Planning Vote |
Total transfers | £1,640,275 | |
2.3.3 Transfers between revenue and capital heads of expenditure
Transfers between revenue and capital amounted to £170,745 (Table (3) refers). There were no transfers to new capital heads of expenditure during the period.
Table (3) Transfers between revenue and capital
Department | £ | |
To | From |
T&R (rev) | CMD (cap) | 170,745 | GAAP funding |
Total transfers | £170,745 | |
2.4 Carry forwards
Total carry forwards of £2,557,561 were approved by the Council of Ministers during the 2007 annual Accounting process, £2,290,561 of which had been allocated by departments as at 30th June 2008 (Table (4) refers).
Table (4) Carry forwards
Department | Approved amount | Allocated amount | Outstanding amount |
| £ | £ | £ |
Chief Minister | 8,592 | 8,592 | |
EDD | 20,000 | 20,000 | |
ES&C | 626,880 | 626,880 | |
H&SS | 6,143 | 6,143 | |
Home Affairs | 850,000 | 850,000 | |
Housing | - | - | |
P&E | 43,373 | 43,373 | |
E&SS | 267,000 | - | 267,000 |
T&TS | 242,969 | 242,969 | |
T&R | - | - | |
NMSFB | 462,604 | 462,604 | |
States Assembly | 30,000 | 30,000 | |
Total | £2,557,561 | £2,290,561 | £267,000 |