Executive Council met today with the primary aim of discussing the First Supplementary Appropriation (2017/18) Bill 2018. This Bill is to be presented at the next formal meeting of the Legislative Council scheduled for Thursday, 25 January 2018, and will be published shortly.
A Supplementary Appropriation is necessary following in year adjustments to both revenue and expenditure forecasts, and represents an adjustment to the amount appropriated in the initial budget at the beginning of the financial year. At this stage of the year, it is estimated that adjustments totalling just over £1m are required. Council approved the Bill in principle, subject to further discussions with DFID.
The meeting concluded at 11.15am.
9 January 2018