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Acct General raises red flag; Gov't cannot meet financial obligations!

- Un-audited Financial Report for the first 6 months, ending June 30, 2016 made public.
According to Acting Accountant General Laurel L. Smith (left), 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. Photo: VINO/File
It was on December 19, 2016 at the Second Session of the Third House of Assembly that a six-month report (left) representing January to June 2016 was laid on the table and contradicts Premier Dr The Hon D. Orlando Smith’s statements that the territory’s finances are stable. Photo: VINO/File
It was on December 19, 2016 at the Second Session of the Third House of Assembly that a six-month report (left) representing January to June 2016 was laid on the table and contradicts Premier Dr The Hon D. Orlando Smith’s statements that the territory’s finances are stable. Photo: VINO/File
ROAD TOWN, Tortola, VI- As the Dr The Hon D. Orlando Smith led National Democratic Party (NDP) Government continues to take heavy criticism from all quarters, including the Governor and Opposition for its lack of financial management and missing public funds, another report has shed some light.

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.

21 Responses to “Acct General raises red flag; Gov't cannot meet financial obligations!”

  • But, But, But (23/12/2016, 18:26) Like (22) Dislike (1) Reply

    The Premier said - "Things are Great!" - from where he sits?

    Wait! Am I wearing Done Deal and Bald-head sunglasses?'
  • Xxx (23/12/2016, 18:27) Like (10) Dislike (0) Reply
    Red flag more like no flag as who put them hand in the cookie jar
  • Len (23/12/2016, 18:49) Like (7) Dislike (1) Reply
    Maybe that is why so many better qualified persons than Ms Smith have resigned the position before her? Now starting to cover her butt!
    • @ Len (24/12/2016, 09:08) Like (3) Dislike (1) Reply
      yes, let them explain why the former accountant general run for her life she now in the UK
  • civil servant (23/12/2016, 18:50) Like (12) Dislike (0) Reply
    lord they not going confirm her now
  • Analyst allofsudden (23/12/2016, 19:14) Like (2) Dislike (0) Reply
    Who's report is this? WTF that consultant in Treasury reporting. In blind man country one eyed man is king.
  • Lawd a Merci! (23/12/2016, 19:18) Like (17) Dislike (1) Reply
    tings start now on VINO. VINO you guys are the best. Keep up the good work. Accurate and Balance Reporting. We Need to "Know" what's really going on.

    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!
    • ccc (23/12/2016, 19:38) Like (14) Dislike (0) Reply
      and next year it will be even worst
      • Jack B Nimble. (23/12/2016, 20:56) Like (23) Dislike (0) Reply
        Same O. Same O. We already know the problems. We need some solutions. It's a state of emergency. Lord help my NDP.
    • @Lawd a merci, you mean? (23/12/2016, 19:45) Like (11) Dislike (0) Reply
      Their whole show-ray is to save face for others (international market without a proper balance) while we feeling the pinch here in our country. SHAME on NDP! What a Set of ?...
  • k. (23/12/2016, 20:54) Like (18) Dislike (2) Reply
    She look nice aye.. Beautiful lady.
  • vi (23/12/2016, 21:46) Like (11) Dislike (0) Reply
    Government has not paid NHI for their employees as yet,
    • Solution suggestions. (24/12/2016, 08:05) Like (0) Dislike (2) Reply
      Now they going to raise permit fees again. That's won't be enough. We have over one thousand people on work permit exemptions. Eliminate the exemption. let people on exemption pay $1000.00 and go straight to resident status. Those on Resident staus will pay $300.00 every 5 years to get an updated card and photo.
  • John (24/12/2016, 03:46) Like (4) Dislike (1) Reply
    Well, is  Ms Laurel L. Smith now going to loose her job like so many Accountants General before her? Perhaps now they can reassign Ms Ritter-Freeman for that post as well, maybe she can work her magic and make things look rosey again.
  • Time to put Country first. (24/12/2016, 07:52) Like (3) Dislike (2) Reply
    Time to get real. Stop playing games with our future and our country. Doc need to step a side. Let go the pride try someone new for the next 30 months. Mark or Ronnie Decide amongst u all self which one is better. Time to put country First.. We can't survive another year on this Road... Seriously time for Smith and Kedro to turn the Captaincy over to Ronnie and Mark. Time to try something different.
  • LS (24/12/2016, 08:06) Like (13) Dislike (0) Reply
    Mad respect to you Ms Smith for speaking up
    • TOTAL (24/12/2016, 09:49) Like (3) Dislike (1) Reply
      Thank you Laurel for speaking up and talking the truth. Our expenditure has surpassed our revenues. Excuses of the VIP did it too, cannot cut it anymore. Your situation is different and you (NDP) are not helping the situation. Find ways to make revenue to meet your obligations; the people of the Virgin Islands are very talented, but we do not invest in our own.

      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!!!
  • @ LS (24/12/2016, 09:10) Like (14) Dislike (0) Reply
    we support the acting accountant general for telling the truth
  • pat (24/12/2016, 11:11) Like (0) Dislike (1) Reply
    well Dr ZZZZZZ said things are great and the economy is strong so everything will be alright
  • ta ta (27/12/2016, 20:43) Like (1) Dislike (0) Reply
    Anyway, we all know that no one thing will solve the BVI financial crisis which is why we need collective efforts.
  • concerned citizen (30/12/2016, 10:00) Like (0) Dislike (0) Reply
    Recently, I shared my vision of creating great paying jobs which will increase tourism and create many other business opportunities with one of our top dogs and would you believe, he told me that government will not invest in such business, that they leave that for private persons. This business can take us beyond the million mark in tourist arrivals, and create production industries, millions in salaries and taxes, we are drowning and yet not wise enough nor creative to provide jobs for our youths!


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