Saba has surplus in second quarter

The public entity Saba realised a pre­liminary surplus of US $1.7 million in the second quarter of 2023. The second quarter Execution Report showed $25.3 million in revenues and $23.6 million in expen­ditures. This includes $15.4 million in special grants from the Netherlands on both the revenues and expenditure side.

The realised positive result of $1.7 million in the second quarter was higher than an­ticipated and was mostly the result of lagging regular other costs. The Committee for Financial Supervision CFT asked the public entity to clarify what these lagging regular other costs are ex­actly and what caused them.

In the second quarter of this year, Saba realised $8.2 million in regular costs, rep­resenting 39% of the total regular budget and as such it was not in line with the 2023 budget. The realisation of the personnel costs, $5.1 million and 50% of the bud­geted costs, was in line with the budget. The other regu­lar costs remain behind with 28%.

The CFT, in a letter dated August 11, and published on Wednesday. advised the public entity to draft a further explanation about the re­alisation of the regular costs and the expectations for the remainder of the year.

Saba realised $0.6 million in revenues from local fees, which is in line with the 2023 budget. However, there is a backlog in collecting certain fees, such as the room tax and construction permit fees. Also, the revenues from the airport tax and long lease fees are lower.

In the second 2023 budget amendment, the public entity increased both the revenues and expenditures by $15.1 million, of which $13.9 mil­lion is due to special grants. An amount of $11.4 mil­lion in special grants is ear­marked for the financing of the third phase of the renew­able energy project of Saba Electric Company (SEC). The remaining $2.5 million is for other projects.

The second Execution Re­port showed that Saba by the end of July had $57.3 million in liquid means. The vast majority of this amount, $49.4 million, is earmarked for special grants. Saba’s li­quidity position has strongly improved compared to 2022, but continues to require at­tention, the CFT stated.

The Daily Herald.

Bouterse sworn in as permanent notary for St. Eustatius and Saba
Police report of Monday, the 14th of August until Wednesday, the 16th of August 2023

One comment

  1. A Surplus on the Budget of 1.7 million is Great! But this Zagers and Johnson Dictatorship on Saba for 15 years just cannot work, this cannot go on! The Surplus of 1.7 million should be used to help the poorest families on Saba and not the richest not the Johnson Family and Zagers Family and whom they choose to help. Chapter 1 of the Constitution lays down the rights of all persons in the Netherlands. These ‘fundamental rights’ are principally human rights and democratic rights. They include freedom from discrimination, freedom of religion and expression and the right to privacy. Social rights, such as the right to housing and health care, are also laid down in the Constitution.
    Since the Netherlands is part of NATO and the EU: The The European Union describes its values as being ‘Human Dignity, Freedom, Democracy, Equality, Rule of Law, and Human Rights’. Democracy is a cornerstone of the project that is the European Union and has been since its inception.
    The Appointment of Governor Jonathan Johnson for 15 years and Commissioner Bruce Zagers 15 years is Against Dutch Democratic Constitutional Law and the European Union Constitutional Law and the United Nations. In the United States The governor holds the office for four years and can choose to run for reelection. The Governor is not eligible to serve more than eight years in any twelve-year period.

    If democracy is to have breadth of meaning, it is necessary to adjust this inequity. It is not only moral, but it is also intelligent. We are wasting and degrading human life by clinging to archaic thinking.
    Martin Luther King, Jr.

    Cristian Hassell Feliciano

Leave a Reply

Your email address will not be published. Required fields are marked *

Saba News