Strengthening GoM Oversight of Statutory Bodies

During the weeks of May 17^th and May 24^th, the Ministry of Finance will be hosting a consultancy designed to strengthen oversight of GoM’s Statutory Bodies.  The consultancy is being facilitated by a Caribbean Regional Technical Assistance Centre (CARTAC) specialist in this area who will be arriving on island shortly.   This consultancy has come about to ensure full adherence to Part IX of the Public Finance (Management and Accountability) Act of 2008 in reference to better assess and better contain the fiscal risks that GoM is exposed to as a result of sharing in the financial obligations of its Statutory Bodies.

During the week of May 17^th, the CARTAC Consultant and the Financial Adviser in the Ministry of Finance will meet with Government Officials with oversight for Statutory Bodies as well as the leadership team of Statutory Bodies to ascertain the short- and medium-term prospects they envisage for these institutions, and also the operational and financial issues of greatest concern to them.

The week of May 24^th will be devoted to the delivery of a quantitative workshop on Statutory Body oversight and governance, with a focus on “good practices” and financial analysis techniques that are relevant to the identification and measurement of financial risks.  The workshop will take place at the new Training Center in Government Headquarters and both GoM Officials and senior management of Statutory Bodies will be in attendance.

.