SABA — In keeping with good financial management, the Public Entity Saba on Friday, September 1 submitted the 2024 draft budget to the Island Council, which is in compliance with the Financial Supervision Law Public Entities Bonaire, St. Eustatius and Saba FinBES.
Finance Commissioner Bruce Zagers said that the timely delivering of the draft budget was thanks to the hard work and dedication of the Finance Department, where with financial support of the Dutch Government, investments were made in the enlarging and further professionalizing of the team.
“With a robust financial team, we are now in a better position to meet deadlines. I am proud of this team and the good work that our people do” stated Zagers. The Committee for Financial Supervision CFT will now have two weeks to render its advice on the 2024 budget, after which the final changes are made and ready for handling in the Island Council.
The Public Entity Saba is known for its sound financial management. However, last year, it was a bit late in submitting the draft 2023 budget due to the then lack of capacity at the Finance Department and the merger between the Island Receiver and the Finance Department.
This year the budget handling process will be completed in time. The FinBes law prescribes that the approved budget must be submitted to the Minister of Interior Affairs and Kingdom Relations (BZK) before November 15 of the year preceding the new budget.