Saba has financial management, administrative stability in order

Committee for Fi­nancial Supervision CFT for Bonaire, St. Eustatius and Saba praised Saba dur­ing its Tuesday visit for the timely submission of bud­get documents and the con­tinuation of good financial management.

Discussions were held with the Executive and Is­land Councils about the reconstruction project, the 2017 financial statements, the 2019 draft budget and financial management. CFT has recently issued its advice on the 2019 draft budget. Although this draft budget complies with le­gal requirements, Saba is not entitled to use reserve funds for the mandatory repayment of loans. The repayment will be made out of the available liquid­ity asset, which sufficiently allow for this purpose. Saba has submitted its financial statements for 2017 on time. The financial statements display a posi­tive result of approximately US $1.2 million and are provided with an unquali­fied auditor’s statement for the fourth consecutive year.

“Saba knows how to main­tain its financial manage­ment at the right level,” CFT chairman Raymond Gradus said. The execution of the 2018 budget does not show any particularities at the moment, it was stated. The renovation of Juan­cho E. Yrausquin Airport was examined during CFT’s visit to Saba and the plans for the reconstruction and expansion of the seaport were discussed. The Dutch government has made sub­stantial sums available for these projects as well as for other ones.

This Saba visit was also the first of former Minister of Economic Affairs Henk Kamp as CFT member. He succeeded Sybilla Dekker on July 1. Herbert Doma­cassé is a CFT member on behalf of the Caribbean Netherlands.

The Daily Herald.