Premier Smith admits to not following Financial Management Protocol
In response, he said, “Ever since 2012, my government has endeavoured to follow the principles of the Protocol for Effective Financial Management.”
Not pleased with his answer, Hon Fraser reiterated and asked the Premier if he is saying that his government has complied with “all the provisions of the protocol”.
“What I said Madam Speaker, is that my government has endeavoured to follow the principles embodied. We know that, Madam Speaker, since the hurricane we were not able to, for example, place any money into the Reserve Fund at this particular point in time. So there are various things which we have had to do,” stated the Finance Minister.
Based on the Premier’s response, Hon Fraser pointed out that he was referring specifically to “good governance and filing all documents that are required”.
Premier Smith then commented that his government has been filing all documents that are required, explaining that he mentioned in his Budget Address on March 19, 2018, that the Accountant General's reports have and are being submitted to the Auditor General.
“My views are totally different”
Meanwhile, the Third District Representative stated that he believes that the establishment of the Recovery and Development Agency is being stipulated by the United Kingdom (UK) because the Premier’s government has not been following the Protocol for Effective Financial Management.
He explained, “If you are telling me that best international practices require or dictate that you have this investment and development agency and it is for transparency and good governance and you just told me that your government has been practicing good governance and transparency based on the Protocol for Effective Financial Management, something isn’t right. Something does not add up. It says that you were not following the Protocol for Effective Financial Management as you said or you are not telling us exactly what this agency is about. Am I missing something? However, my views are totally different and I am sure that has a lot to do with the UK’s position in this document which is supposed to be a secret document.”
Dr Smith then responded that he has not been able to comply with all aspects of the protocol while adding that it is something that his government is “aspiring to do” as soon as the territory is back in a better fiscal position.
He then emphasised that the agency is not a reflection of his government not following the Protocol for Effective Financial Management.
There have been reports that the United Kingdom does not trust the NDP Government to manage the monies to be borrowed for the hurricane recovery, hence the reason for the controversial Recovery and Development Agency as stipulated by the High Level Framework for UK Support to BVI Recovery.
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15 Responses to “Premier Smith admits to not following Financial Management Protocol”
Think.
Turks and Caicos.
It doesn't trust none a we, because we become so damn greedy in the last three decades.