Shigemoto has “positive” meeting with Cft

POSTED: 05/17/11 12:21 PM

St. Maarten – Minister of Finance Hiro Shigemoto met with the board of the Committee for Financial Supervision (Cft) Monday regarding a number of matters related to the country’s public financial management system. The Minister of Finance was supported by a number of advisors from the Ministry of Finance during the meeting with the Cft.
“My discussions with the CFT were positive as we work towards a healthier financial administration. The focus of the meeting was on various timelines related to the provision of various documents and reports. For example, the Cft was informed that the essential government tasks analysis will be ready in the second half of 2011. The CFT were also informed that 22 annual financial reports of Government owned companies and foundations have so far been received and that these in the meantime have been sent to the Cft Secretariat,” Shigemoto said.
He added, “An update on the status of the first quarter 2011 report was provided and this will be finalized within short, and the concept 2010 annual financial report should be ready by July 1.”
“Everybody within the Ministry of Finance is working diligently to create a modern, country public finance management system with the help of the CFT where they make recommendations. We are all working in the same direction and towards the same goals,” Shigemoto also said on Monday.
Monday’s meeting is the first official meeting since the Cft gave a positive advice for the first country St. Maarten 2011 budget. The Cft says the revised document meets the norms of the Kingdom Law regarding public finances. The 420,916,597 million guilder budget is 23,526,328 million guilders less than the one that was approved by Parliament on December 23, 2010. The amount at that time was 444,442,925 million guilders.
The Cft Board will also be meeting with the Council of Ministers on Tuesday. That meeting begins at 3:00 p.m. Some of the agenda points are the budgets of 2010, 2011 and 2012, financial management and corporate governance. The Cft will also meet Parliament at 10:00 a.m. today.

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