SCHEDULES
SCHEDULE 4Funding: Sponsor Body's Estimates
PART 3Transition year
Transition year estimate
6
1
This paragraph applies in relation to a financial year of the Sponsor Body if—
a
the financial year is one that begins during phase one, and
b
the Sponsor Body expects during the financial year to seek Parliamentary approval for the purposes of section 7(2)(a) and (b).
2
The Sponsor Body must prepare an estimate of—
a
its phase one expenditure for the financial year, and
b
its phase two expenditure for the year.
3
The estimate must reflect the Delivery Authority's statement of resources for the year, as approved by the Sponsor Body under paragraph 7 of Schedule 2.
4
The Sponsor Body must submit to the Estimates Commission—
a
the estimate for the year, and
b
the Delivery Authority's most recent phase one cost assessment.
5
The Estimates Commission must review the estimate, and in so doing must—
a
consult the Treasury, and
b
have regard to any advice given by the Treasury.
6
The Estimates Commission may make such comments on the estimate as it considers appropriate.
7
If the phase one cost assessment exceeds the phase one expenditure limit (as defined by paragraph 4(1)), the Estimates Commission may—
a
lay the estimate before the House of Commons, or
b
reject it.
8
Otherwise, the Estimates Commission must lay the estimate before the House of Commons.
9
When laying the estimate before the House of Commons under sub-paragraph (7)(a) or (8), the Estimates Commission must also lay before that House—
a
the Estimates Commission's comments on the estimate, and
b
any comments made by the Treasury as a result of the consultation under sub-paragraph (5)(a).
10
If the Estimates Commission rejects the estimate under sub-paragraph (7)(b), the Sponsor Body must prepare a fresh estimate for the year (and sub-paragraphs (3) to (9) apply accordingly).
Supplementary estimates
7
1
Where under paragraph 8 of Schedule 2 the Sponsor Body approves a supplementary statement of resources prepared by the Delivery Authority in respect of a financial year to which paragraph 6 applies, the Sponsor Body must prepare a supplementary estimate of its expenditure for that year.
2
The supplementary estimate must reflect the Delivery Authority's supplementary statement of resources for the financial year.
3
Paragraph 6(4) to (9) applies to a supplementary estimate as it applies to an estimate prepared under paragraph 6.