The accounts, which reveal how the States spent £725 million last year – come at a time when the Treasury Minister has disclosed that the States will not quite meet their savings target of £65 million next year because of the decision not to reduce grants to fee-paying schools.
Instead, Senator Philip Ozouf hopes to deliver savings of ‘the late £50 million and early £60 million mark’ by 2013 and is in the process of identifying further savings to achieve the full £65 million soon afterwards.
Commenting on the accounts, which also reveals that 626 States employees earned more than £70,000 a year during 2011, States Treasurer Laura Rowley said that Islanders could be pleased with the results, which showed that prudent spending and making savings had paid off.
• See Thursday’s JEP for full reports
