2009 Budget Transfers between Capital and Revenue Heads of Expenditure as a result of moving to GAAP accounting.

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A decision made (18/03/2009) regarding: 2009 Budget Transfers between Capital and Revenue Heads of Expenditure as a result of moving to GAAP accounting.

Decision Reference: MD-ESC-2009-0006
Decision Summary Title:	Capital/Revenue Budget Transfer – Education, Sport and Culture		Date of Decision Summary:	20th February 2009
Decision Summary Author:	Peter Robinson – Assistant Director – Finance		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	2009 Shadow Budget - transfer of budgets		Date of Written Report:	20th February 2009
Written Report Author:	Peter Robinson – Assistant Director - Finance		Written Report : Public or Exempt?	Public
Subject: 2009 Budget Transfers between Capital and Revenue Heads of Expenditure as a result of moving to GAAP accounting
Decision(s): The Minister approved 2009 budget transfers between capital and revenue, representing a net budget transfer of £20,000 revenue to capital, as detailed in the attached report.
Reason(s) for Decision: The States of Jersey is implementing Generally Accepted Accounting Principles (GAAP) in 2009. GAAP accounting requires that only expenditure meeting the GAAP definition of capital expenditure should be treated as such. All other expenditure must be accounted for as revenue. The budget transfer is the movement in budgets between capital and revenue required to align the budgeting treatment of expenditure with the GAAP accounting treatment. This does not change the total amount of expenditure approved by the States.
Resource Implications: None.
Action required: Assistant Director - Finance to seek Treasury and Resources Ministerial approval for the transfer. Once approval obtained, Assistant Director - Finance to action budget transfers.
Signature:		Position: Deputy J.Reed, Minister for Education, Sport and Culture
Date Signed:		Date of Decision: