Budget Act (Northern Ireland) 2002 Explanatory Notes

Purpose

3.The Act authorises the issue from the Consolidated Fund of Northern Ireland of the cash sum of £4,134,044,000 which is the total of the Spring Supplementary Estimates for 2001-02 £198,035,000 and the cash sum required on account for 2002-03 of £3,936,009,000. The Act also authorises the use of resources amounting to £5,060,806,000 including £574,419,000 in the Spring Supplementary Estimates for 2001-02 and £4,486,387,000 required on account for 2002-03, and revises the limits as set in the Budget (No.2) Act (Northern Ireland) 2001 on the amount of accruing resources, including both operating and non-operating accruing resources that may be directed to be used for certain purposes for the year ending 31st March 2002; in addition, the Act authorises temporary borrowing by the Department of Finance and Personnel.

4.The sums to be issued from the Consolidated Fund of Northern Ireland for the year ending 31st March 2002 are to be appropriated for services, as set out in Schedule 1 to the Act.

5.The amount of resources (including accruing resources) authorised for use for the year ending 31st March 2002 are to be used for the purposes specified in Schedule 2 to the Act.

6.The sums to be issued from the Consolidated Fund of Northern Ireland for the year ending 31st March 2003 are to be appropriated for services as set out in Schedule 3 to the Act.

7.The amount of resources authorised for use for the year ending 31 March 2003 are to be used for the purposes specified in Schedule 4 to the Act.

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