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The National Newspaper of St. Vincent and the Grenadines PRINTER SCANNER COPIER FAX Color scan, Fax forward to email, Network scan, PC/Walkup Fax, Copy/Print speed of up to 35ppm, USB 2.0

FRIDAY,

JUNE 6, 2014

VOLUME 108, No.23

www.thevincentian.com

EC$1.50

SERIOUS INDICTMENT OF GOVERNMENT ACCOUNTABILITY, TRANSPARENCY EDITOR’S NOTE: Last week, we presented the first report, scrutinized by our US Correspondent Nelson A. King, of the “Audit of the New York Consulate,” by the Office of the Director of Audit of St. Vincent and the Grenadines. This week, veteran journalist King looks at the second report, “Report of the Director of Audit, St. Vincent and the Grenadines: Public Accounts 2009 & 2010.” It must be noted that King – who possesses undergraduate and graduate degrees in journalism, political science, public administration and law – obtained a copy of these reports, on behalf of THE VINCENTIAN, after they were referred to, by Opposition Leader Arnhim Eustace and Sen. Maj. St. Clair Leacock, to corroborate allegations of corruption and economic mismanagement by the Dr. Ralph E. Gonsalves-led administration, at a recent town hall meeting in Brooklyn, New York.

Dec., 2010.” The report was referenced by Opposition Leader Arnhim Eustace and Sen. Maj. St. Clair Leacock during their THE DIRECTOR OF AUDIT in May 17, 2014 town hall St. Vincent and the meeting in Brooklyn, New Grenadines has pointed to York. A copy of the “Report of what can be characterized as the Director of Audit, St. very serious deficiencies in Vincent and the Grenadines: accountability, compliance Public Accounts 2009 & and transparency in the 2010” was obtained by THE Government of Prime Minister VINCENTIAN. Dr. Ralph E. Gonsalves. Sealey noted that the In her latest report of Director of Audit is the the audit of public accounts “constitutionally-appointed” for 2009 and 2010 for St. auditor of all government Vincent and the Grenadines departments, authorities of and presented to Gonsalves, government, courts of law, who is also Minister of and other offices and Finance, pursuant to commissions established by Sect.12 of the Audit Act the Constitution of St. 2005, Ms. Dahalia Sealey, Vincent and the Grenadines. wrote on Jan. 27, 2014 that She said the Director of she was “of the opinion that Audit is the “independent the financial statements auditor of government, acting presented for audit did not, on behalf of the taxpayer, in all material respects, through Parliament,” adding fairly represent the that it is on her investigation financial position of the that Parliament has to “rely Government of St. Vincent for assurance about the and the Grenadines as at fairness and regularity of the 31st Dec., 2009 and 31st public accounts.” The Director of Audit said that an audit “does not absolve the accounting officers of their responsibility to ensure that adequate internal controls are in place in their ministry or department to safeguard the assets and other resources against fraud and irregularities. They must ensure that the financial and other regulations are complied with.” In forwarding her report to the prime minister for presentation to the House of Assembly, Sealey said audit examinations have revealed a number of matters of “particular concern” for 2009 by NELSON A. KING naking@verizon.net; neloking@msn.com US CORRESPONDENT

and 2010.

Advances – Public debt

Dahalia Sealey, Director of Audit in St. Vincent and the Grenadines.

The Director Audit said “large amounts of advances made by the Accounting Division have remained outstanding for several years,” stating that, as at Dec. 31, 2009 and Dec. 31, 2010, outstanding advances totaled $22, 522, 831.67 and $22, 224, 905.49, respectively. The Director of Audit said the figure of $285,014,459.00, reflected in the Accounting Division accounts as public debt, “did not agree with the figure of $866,731,111.00 ($285,014,459.00 + $581,716, 652.00) quoted on the Statement of Public Debt and Schedule of Loans, respectively, for 2009.” She also said that the figure of $201,607, 142.87, reflected in the Accounting Division as public debt, “did not agree with the figure of $955,297,710.07 ($201,607,142.87 + $753,690,567.20) quoted on the Statement of Public Debt and Schedule of Loans for 2010.” In addition, Sealey pointed to “the difference” in the figures recorded in the Accounting Division accounts and that reflected on the government’s Statement of Assets and Liabilities for 2009 on the accounts of the National Commercial Bank (NCB), NCB loan, Canouan

Sub-Treasury and the Consolidated Fund. She reported no figures recorded by the Accounting Division for the National Commercial Bank, NCB loan and Canouan Sub-Treasury; whereas, the government’s Statement of Assets and Liabilities for these was put at $68,727,750.00, $241,070,284.15, and $51,870.48, respectively.

Consolidated Fund For the Consolidated Fund, Sealey said the Accounting Division recorded $460,365,349.96, compared to the Statement of Assets and Liabilities, which was put at $339,703,240.20. The Director of Audit said “no statement of reconciliation was produced to account for the difference in the overdraft balance of $50,947,228.76 ($118,579, 380.27 - $67, 632, 151.51) between the balances recorded on the Statement of Assets and Liabilities/Accounting Division accounts and that in the Accountant General’s current account at the National Commercial Bank for 2009.” Continued on Page 3.


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