Budget Standing Finance Committee (SFC) started today, Nov 23, 2023
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During SFC deliberations, public sector agencies and central government ministries, departments, and units are called upon to testify and justify their budget requests and most often, argue for more funds.
This is where members get an opportunity to go through the Appropriation Bill clause by clause. The SFC is closed to the public and most often, funds are added with the final figure coming out higher than what the Minister of Finance had delivered in his Budget address.
The Ministry of Finance, including the Financial Secretary (FS) and senior staff in the ministry are present throughout the SFC meetings to answer questions and be the main resource of the committee. The FS is also questioned by legislators about the Territory’s debt, financial reserves, and other fiscal matters.
Budget debates to come
This process usually takes about two weeks and it must happen before the legislators debate the merits of the bill called the Appropriation Act.
In the past, some members have raised concerns about the lengthy process and have discussed ways in which to reform the SFC, which sometimes have public officers waiting around for two days to be called. The committee is chaired by the Speaker of the HoA.
It is unclear when this year’s process will be completed or when the budget will be debated. Under the Virgin Islands Party (VIP) Government, legislators have returned to the HoA to pass the budget in December, so the Bill can be ready for January 1st of the new year.
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14 Responses to “Budget Standing Finance Committee (SFC) started today, Nov 23, 2023”
True there will probably be a few adjustments needed here and there, but at the conclusion of it all, will our finances (the people's money) will be justly spent? No, no, no! Don't you bet a penny that it will. Why not? That which had never before happened, will not happen. It is that simple because "It is not in man that rule over other, politically or otherwise to direct his/her steps" or deal with others (neighbors) justly or fair-minded, be it here be it there.
The city of Cincinnati OH has a city budget of about 350 million, close to ours.
But they have 300,000 people (10 x ours) and much more infrastructure to build and maintain.
How are they doing that? What are we dong wrong?
Typical child.
We here in the BVI cannot change the Democracy, but it is possible to practice it in a more humane way, if first see other needs as our responsibility to act positive, rather than negative to the community needs. Only then will democracy be what it was originally meant to be.