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Information and public services for the Island of Jersey

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

Strategic Reserve Fund: Funding for Independent Jersey Care Inquiry and transfers from and to the Consolidated Fund

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

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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

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A decision made 13 July 2015:

Decision Reference:  MD-TR-2015-0087

Decision Summary Title:

Strategic Reserve Fund  – Amendment to enable use of additional income and transfers from/to the consolidated fund

Date of Decision Summary:

10th July 2015

Decision Summary Author:

Regulatory Adviser

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title:

Strategic Reserve Fund – Amendment to enable use of additional income and transfers from/to the consolidated fund

Date of Written Report:

10th July 2015

Written Report Author:

Regulatory Adviser

Written Report :

Public or Exempt?

Public

Subject:

Report and Proposition to enable the use of Strategic Reserve Fund income over and above that required to retain the real value of the Reserve Fund as at 31st of December 2012 levels for the Jersey Independent Care Inquiry and the short-term measures identified in the draft 2016 – 2019 MTFP and to approve transfers between the Strategic Reserve Fund and the Consolidated Fund for the period 2015 – 2019.  

Decision(s):

The Minister approved the report and proposition on the use of the Strategic Reserve Fund and also the transfers between the Strategic Reserve Fund and the Consolidated Fund for the period 2015-2019 and agreed that the report and proposition be lodged “au Greffe” on 14th July 2015 with a request for debate at the same States sitting as the draft 2016-2019 MTFP.

Reason(s) for Decision:  The reason for the decision is two-fold. Firstly, to agree that the additional income over and above that required to maintain the real value of the Strategic Reserve Fund can be used to fund the costs of the Jersey Independent Care Inquiry; and secondly to meet the request of the Council of Ministers in the draft 2016-2019 MTFP that the Minister for Treasury and Resources bring forward proposals and amounts to enable the further use of the additional income on the Fund for the short-term measures proposed for  the period 2016 – 2019 in the aforesaid document.  The Minister is required to further propose that transfers will be made from the Consolidated Fund to the Strategic Reserve Fund in 2017 and 2019 to replenish the Reserve Fund.

Resource Implications: Funding will be transferred between the Strategic Reserve Fund and the Consolidated Fund in the period 2015 – 2019 part of which relates to a provision to meet the costs of redundancy/severance costs which will reduce the number of States employees.  At this stage the exact implication on States manpower numbers is not known.

Action required: The Greffier of the States to be requested to lodge the attached Report and Proposition on 14th July 2015 with a view to it being debated at the same sitting as the draft 2016 - 2019 MTFP.

 

Signature:

 

 

 

 

Position: Senator  A J H Maclean, Minister for Treasury and Resources

 

                 

 

Date Signed:

Date of Decision:

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