Approved 2022 Year Report reconfirms Saba’s strong financial management

The executive Council is happy with the developments and results. Photo: Government of Saba

THE BOTTOM- The Island Council on Thursday, July 13, approved the 2022 Year Report and the first 2023 budget amendment of the Public Entity Saba. 

During the Central Committee meeting one day before, Commissioner of Finance Bruce Zagers provided some background information.

Saba was again able to achieve an unqualified audit opinion on the financial statements as well as an unqualified audit opinion of the financial compliance of the income and expenses from independent auditor EY. “These achievements once again signify that strong financial management remains one of the fundamental governing principles of this administration,” said Zagers.

A financial highlight in 2022 was the structural increase of the free allowance, which is the structural funding that the public entity receives from the Dutch Government. The increase in the free allowance proved that strong financial management, stability in government and being a trustworthy partner is important to make progress, stated Zagers.

“Rather than receiving less than US $1 million structurally, Saba received an increase of over $5 million structurally. Later in 2022, Saba also received over $3 million, added to the free allowance, for the Nature and Environment Policy Plan for nature-related projects,” said Zagers.  

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