SABA/ST. EUSTATIUS--The Committee for Financial Supervision (CFT) held digital discussions last week with the Executive Councils of Bonaire and Saba and with Government Commissioner Marnix van Rij and Deputy Government Commissioner Alida Francis of St. Eustatius.
As a consequence of travel restrictions put in place to mitigate the spread of COVID-19, the regular visits to these three islands could not take place, as was the case in June.
The topics discussed with the CFT included the economic, financial and social consequences of the COVID-19 pandemic. The Netherlands has made compensation available for the three public entities’ decline in income.
As of the budget year 2021, the CFT will again advise on the draft budget for Statia. In the meeting held on Tuesday, October 27, Van Rij and Francis informed the CFT about the progress made in the area of finance and about their main points of attention for the future.
Discussions were held with Saba about the problems the Executive Council encountered in the process of balancing the budget. In particular, the Executive Council pointed out the operating and maintenance cost of the constructed public facilities that were paid for by the Netherlands in recent years. Saba’s 2021 draft budget has been submitted to the CFT for advice.
The CFT stated that more attention is needed for Bonaire’s budget and accountability cycle and that there are no improvements in financial management. The CFT urged the Executive Council to still accomplish this in the short term and to make optimal use of the ample financial resources and the official capacities. Moreover, vacancies for key positions in the civil service have to be adequately filled as soon as possible.
The CFT again made a plea for improvements in government-owned companies regarding governance, financial management, the timely preparation of financial statements and the filling vacancies on supervisory boards.
The submitted draft budget for Bonaire for 2021 is balanced, the CFT stated, partly because of a withdrawal of US $1.9 million from the general reserve intended for that purpose. The CFT presented its advice on the draft budget on October 12.
