KRALENDIJK- The Public Entity Bonaire (OLB) exceeded the budget for its own organization by almost $5.8 million in 2022.
This can be read in their approved financial statemente for the year 2022. “The budget has been exceeded by nearly USD 5.8 million. For the most part, this is due to a seniority policy,” as stated on page 10 of the 109-page report.
The seniority policy is part of the ongoing revitalization of the civil service, in which older employees retire early and new, younger colleagues are hired to replace them.
As part of the seniority policy, employees are offered the opportunity to retire before reaching the retirement age. This scheme was established in 2022 and will be phased in from 2023 to 2027.
According to laws and regulations, an obligation of nearly USD 7.2 million must be established for the scheme.
The cost overrun is quite hefty in comparison to total budgeted costs for Government’s own organization.