Cft assists with budget amendment

POSTED: 06/22/12 2:25 PM

GREAT BAY – The Government of St. Maarten is being assisted by two staffers from the Board of financial supervision (Cft) in the crafting of an amendment to the 2012 budget. Finance Minister Roland Tuitt announced the direct assistance during Wednesday’s Council of Ministers press briefing. Having the two Cft staffers assist means the body will also be able to get answers on “any detailed questions.”
Tuitt also confirmed that the government sent the outline of its budget plan to the Cft on June 14. The plan outlines how the government will cover the deficit created by the fact that an anticipated 21 million guilders in income tax from especially foreign condo owners will not be realized and to cover the 17 million guilders for paying cost of living adjustment to teachers and civil servants. The government’s main strategy is adding additional revenue they got in the first five months of the year and remove the revenue that cannot be collected.
In a letter dated June 18 the Cft requested more information on the government’s plan.
“We knew that the Cft would come with something like that so that’s why we were finalizing the budget amendment and as soon as those budget amendments are finalized we will send them to the Cft and to parliament for approval. The Cft has made two individuals available to help us prepare the budget amendment and to answer if they have any detailed question,” Tuitt said.

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