Budget board appointed
(CNS): Government has appointed a supermarket boss and an accountant from the private sector to the Budget Delivery Committee (BDC), which has been created as part of the Cayman government’s commitment made to the Overseas Territories Minister in connection with this year’s budget approval. Premier and Finance Minister McKeeva Bush said he supported the request for the committee and hoped that the members would keep him informed about the situation with public spending. The committee, at the request of the FCO, is headed up by the deputy governor as head of the civil service and it will be responsible for monitoring and driving the operational delivery of the budget and the fiscal framework. (Left: Committee member Woody Foster)
Although made up mostly of civil servants, the board includes Dan Scott of Ernst & Young and Woody Foster of the Fosters Group, which the premier said he was very pleased about.
“I fully support the request by the Overseas Territories Minister that a Budget Delivery Committee be established,” Bush said in a release from the finance ministry.
“I am concerned to ensure that the civil service is able to properly coordinate the operational delivery of the budgeet. My government delivered a bare bones budget within a very tight fiscal frame which calls for significant administrative change in the civil service.”
He said that the BDC would keep him informed of the performance of the budget on a monthly basis. “I have asked for an economist and an accountant to perform similar functions for the past three years,” the premier added.
The BDC will meet monthly and its terms of reference will be published on the government’s website shortly, the release stated. Deputy Governor Franz Manderson, the BDC chair, said he would now be accountable for the delivery of the budgetary commitments made by the premier and approved by the Legislative Assembly.
“The purpose of the BDC is to assist me in carrying out this function. I am committed to ensuring that the BDC supports the Hon Premier in his role as minister of finance by keeping him fully informed of progress in the delivery of the budget and by giving him and his ministerial colleagues early warning of any significant changes to allow him and his ministers to make any necessary policy changes,” the deputy governor said, noting that the BDC is an advisory body which is accountable to the government of the day to assist with budget plans.
Governor Duncan Taylor also welcomed the announcement of the Committee.
“The 2012/13 budget, approved by the minister for the Overseas Territories and passed by the Legislative Assembly, aims to bring Cayman’s public finances back onto a credible and sustainable track. I am confident that the Committee, under the able chairmanship of the deputy governor and with the valuable input of respected senior members of the public and private sectors, will help drive the civil service’s operational delivery of the important demands which the budget have placed on it,” he said.
Taylor added that by providing timely and clear advice it will ensure that the Cabinet is fully informed so any policy adjustments to keep the budget on track can be made when necessary.
Working with the deputy governor and the two private sector members on the committee will be Financial Secretary Ken Jefferson, the Premier’s Chief of Staff Leonard Dilbert, Chief Officer of the Financial Services Ministry Dax Basdeo, Chief Officer of the Portfolio of the Civil Service Gloria McField-Nixon and Chief Officer Public Finance Sonia McLaughlin.
Serving as an ex-officio member of the committee is UK Economic Advisor Richard Holmwood.
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