Re: Tardy Publication of Budgetary Reports

Oct 13, 2022

12th October, 2022

Hon. Philip E. Davis, M.P.
Prime Minister
Commonwealth of The Bahamas

 

Dear Prime Minister,

Re: Tardy Publication of Budgetary Reports

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You would be aware that the Public Finance Management Act (PFMA) in Section 69 and 70 lay out the requirements for monthly and quarterly budget reports and

the timelines for which they must be published.

Section 69 (2&3) of the PMA provides the statutory deadlines for the submission and publication of monthly budget reports, which must be provided to Cabinet no later than four (4) weeks after the end of the reporting period, and then to be made public no later than one (1) week following that. The exception is the final month

of the fiscal year where an eight (*0 week timeline is provided.

Presently, the monthly reports for July 2022 and August 2022 have yet to be published consistent with the legal deadlines. These reports are thus past due. The Ministry of Finance has been habitually late over the last several months in the publication of the monthly and the quarterly reports. We cannot imagine that thereis any acceptable reason for this chronic tardiness.

When the government is tardy with these reports, it undermines the credibility of the administration and it limits the ability of taxpayers and all interested stakeholders to assess the fiscal performance of the government and hold thegovernment to account.

As Minister of Finance we will call upon you to address whatever deficiencies are causing the Ministry of Finance to be late on its statutory reporting.

We anticipate the immediate publication of these tardy reports and your assurance that moving forward all financial reports will be published on time.

 

Respectfully,

Hon. Michael C. Pintard, M.P. Leader of His Majesty’s Loyal Opposition

Cc: Auditor General Media Houses

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