Transfer from Corporate Contingency to Treasury and Resources Department to facilitate Grant to Community Savings Ltd.

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A decision made 13 July 2015:

Decision Reference: MD-TR-2015-0085
Decision Summary Title:	Grant to Community Savings Ltd		Date of Decision Summary:	2nd July 2015
Decision Summary Author:	Finance Manager – Corporate Group		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	Grant to Community Savings Ltd		Date of Written Report:	2ndJuly 2015
Written Report Author:	Finance Manager – Corporate Group		Written Report : Public or Exempt?	Public
Subject: Transfer from Corporate Contingency into the Treasury and Resources Department (T&R) revenue head of expenditure in the amount of £50,000 and onward authorisation of a grant in the same amount to Community Savings Ltd.
Decision(s): The Minister approved a transfer from Corporate Contingency into the T&R revenue head of expenditure in the amount of £50,000 and onward authorisation of a grant in the same amount to Community Savings Ltd.
Reason(s) for decision: To enable the Treasurer of the States, as Accounting Officer for T&R, to award a grant of £50,000 to Community Savings Ltd from the T&R revenue head of expenditure further to a transfer from Corporate Contingency in the same amount. Article 18(1) (c) of the Public Finances (Jersey) Law 2005 states that all or any part of the amount appropriated by a head of expenditure may, with the approval of the Minister for Treasury and Resources, be used for the purposes of another head of expenditure.
Resource Implications: T&R Corporate Contingency to decrease by £50,000 and the T&R revenue head of expenditure to increase by an identical amount to enable an onward grant payment to Community Savings Ltd. This decision does not change the total amount of expenditure approved by the States.
Action required: Finance Manager – Corporate Group to progress the grant of £50,000 to Community Savings Ltd.
Signature:		Position: Senator A J H Maclean, Minister for Treasury and Resources
Date Signed:		Date of Decision: