Statia further improves financial management

The Public Entity St. Eustatius has made progress in 2021 in the area of financial management. The College Financieel Toezicht Bonaire, St. Eustatius and Saba (Cft) expects that the implemented improvements will lead to an independent auditors report for the year 2022. Cft indicates this in its advice letter regarding the draft 2022 budget to the Government Commissioner Alida Francis, dated December 6th, 2021. 

The improvements implemented will not yet have an effect for the whole year 2021. It is therefore expected that it is not yet possible to have an independent auditors report for the year 2021. However, this must be the case for the year 2022,  mentions Cft in her advice to the Public Entity on the draft 2022 budget. The quality of the policy part of the draft budget is sufficient, according to Cft. 


The FinBES Act prescribes that the budget must be balanced. In view of the phase of restoration in which the Public Entity finds itself as a consequence of the COVID-19 pandemic and the Provisions Restoration Act, the Cft considers the budgeted deficit for 2022 to be permissible. The Cft is further of the opinion that the resistance capacity also offers room for this. However, Cft Chairman Raymond Gradus, advises the Public Entity  to ensure a balanced budget again as of 2023. This will require further adjustments. 


The draft 2022 budget of the Public Entity has been established through an intensive process involving the departments and the responsible directors. The Cft supports such an approach because it encourages a participation in the preparation of the budget.