CFT gives Saba a green light on third-quarter finances

The Financial Supervision Board (CFT has reviewed Saba’s third-quarter report, and its verdict is positive. In a letter dated November 11, 2026, the CFT found the island’s budget to be in order.

Saba is raising both its budgeted income and expenses by USD 0.8 million to USD 46.3 million. The CFT has no objections. It describes the changes as mostly technical and one-off, so they should not affect the coming years.

Where the money stands

• Revenue through September was USD 35.2 million, or 76% of budget. Most of it came from the free allowance (USD 21.3 million) and special allowances (USD 9.5 million). Local taxes and fees brought in USD 1.2 million.
• Spending was USD 32.0 million, or 69% of the budget. This figure is slightly below plan, mainly because vacancies weren’t filled in time.
• Investments from one’s own resources are 96% complete.

After nine months, Saba has a surplus of USD 3.3 million. The island expects to break even for the year, but the CFT thinks it will likely finish with a small surplus, since staffing costs are lower than budgeted.

Some local taxes brought in less than expected, so Saba has lowered its income forecast by USD 0.3 million. The CFT called this a sensible response.

Cash position
Saba held USD 84.7 million in cash at the end of September. Of that, USD 65.3 million is already earmarked for projects and special grants, leaving USD 18.1 million freely available. That is down from USD 20.1 million at the end of June.

Fixing the flagged issues
The external auditor’s review of the 2025 accounts raised three points:

• Legal basis for local taxes: Saba has an action plan to renew the relevant ordinance.
• Administration of new projects: resolved, and the auditor has seen the measures.
• Password policy for financial systems: the IT department is investigating the gaps and possible fixes.

The Cft welcomed the island’s work on these. It has asked Saba to show further progress in its fourth report of 2026, with particular attention to how the auditor’s points are followed up.

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