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CFT says financial position public entities Saba and Statia has improved

Friday, June 14, 2013

SABA/ST. EUSTATIUS -The Committee for Financial Supervision CFT held consultations with the Executive Councils of Bonaire, St. Eustatius and Saba and with the Island Council of Bonaire over the past days, to discuss the annual reports of 2012, the execution of the 2013 budget and the preparation of the budget for the coming year. Cautious financial management as well as the increase of the “free remittance” and its indexation caused the financial position of the public entities to improve, CFT stated in a press release on Wednesday.   For the first time, a positive result was achieved in 2012 for the three public entities, while financial management in Bonaire, Statia and Saba has im proved as well. “The islands are well on their way to re alise the priorities for this year,” CFT said.   Now that a positive result over 2012 has been accomplished, it is the right time to focus on building up “resistance capital” (weerstandsvermogen) according to CFT, which pointed out the importance of risk assessments, such as natural disasters and the need to develop a policy to be able to cope with these risks.   “In this regard, it is relevant that the islands have prepared comprehensive development plans for the coming years. The build up of resistance capital is even more important when the public entities apply for loans for these development plans. Repayment cost will increase, whereby budget flexibility may de crease. The surpluses of 2012 could partially be re served for the development of resistance capital,” CFT recommended.   All three islands were applauded for setting important steps in the progress of their financial management. “Saba strives for an approved declaration from the accountant concerning a true and fair view presented in the annual reports for 2012. Statia, how ever, may be experiencing a delay in the submission of its execution and annual reports, but made remark able progress in organising its administration. Bonaire expects to submit the annual reports again in a timely manner,” CFT said.  The islands expressed concerns over the capacity of their personnel.

Bron: The Daily Herald, St. Maarten


Persbericht CFT

12 JUNI 2013:

Komunikado pa prensa 130612 NED

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