Acct General raises red flag; Gov't cannot meet financial obligations!
It was on December 19, 2016 at the Second Session of the Third House of Assembly that a six-month report representing January to June 2016 was laid on the table from the Acting Accountant General of the Virgin Islands Ms Laurel L. Smith.
Role of Accountant General
According to law (Public Financial Management Act 2004), the Accountant General is responsible for the control and accounting of all public funds received, held and expended on behalf of the Government of the Virgin Islands (VI).
While the Premier and Minister of Finance Dr Smith continues to claim that the economy is robust and "strong", the financial realities paint a different picture.
In her short term report made public, the Acting Accountant General Smith wrote "there is some cause for concern in that although expenditures are being controlled, indications are that commitments on the Government of the VI are being incurred at a rate that does not commensurate with the ability of the Government to meet these obligations."
We need audited reports
With the NDP administration refusing to give the public audited financial reports since they took office in 2011, something that has outraged Governor John S. Duncan OBE, the Foreign & Commonwealth Office (FCO) and the Opposition, the Acting Accountant General warned "it is important to emphasise the value of sustained and dedicated efforts towards excellence in Public Sector financial accounting and reporting."
The short term report shows that the Public Outstanding Debt as of June 30, 2016 was $104.7 million. However, with the public finances not audited we will never know the real sum or accuracy of this figure.
The Treasury Department falls under the Ministry of Finance, and the Premier holds the portfolio of Minister of Finance.
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21 Responses to “Acct General raises red flag; Gov't cannot meet financial obligations!”
The Premier said - "Things are Great!" - from where he sits?
Wait! Am I wearing Done Deal and Bald-head sunglasses?'
All The NDP is trying to do - is say-face for the International Market - But the "Reality"on the ground is that - We are in DEEP Sh#T!
Do not tax people anymore as well; as the cost of living is bad enough, along with the added implementation of NHI. I am tired of hearing live within your means, when you cannot buy food after paying rent. Seriously the salary scale needs to be reviewed.
Before all this happens; revenue has to come in, and not in the form of added taxation but innovation. That is what you were elected for, to create and execute solutions. You have failed miserably to this point.
It is so funny, because as a young man coming back to territory, being concerned you state ways where you see avenues for revenue as well as the uplifting of our people. They fall on deaf ears from our elected after they nod their heads in agreement. Then while you are simply stating the state of the economy, you are being frowned upon and told; "if you don't have any solutions, don't say anything." When in fact, I already gave solutions.
Everyone have a Merry Christmas and a Happy New Year!!!