St. Maarten – Government-owned companies and other government-entities are lax with the submission of their annual accounts to the responsible minister. Of 33 government entities, 19 (55.9 percent) failed to submit their annual account for 2014 in a timely manner. This appears from the fifth report about the Pefa (Public Expenditure and Financial Accountability) overview of financial management from financial supervisor Cft.
The Airport Security Financing Society, the St. Maarten Housing Development Foundation and the shelter for abused women Safe Haven have the worst record according to the report. The last time they submitted a financial account to their ministry was in 2009. The St. Maarten Medical Center and the Bureau Telecommunication and Post submitted an annual account for the last time in 2010, and St. Maarten Laboratory services did so for the last time in 2011.
Entities that posted an annual account for the last time in 2012 are the Sint Maarten Economic Development Corporation, St. Maarten Postal Services, Voluntary Corps St. Maarten (VKS) and – surprisingly – general pension funds APS.
Utilities Company Gebe, the Harbor Holding Company, the Development Bank Netherlands Antilles, the Small Business Development Foundation, the Foundation Upkeep Sports Facilities, telecom provider UTS, Social Insurance agency SZV, the White and Yellow Cross Foundation, the Nature Foundation, No Kidding with our Kids Foundation, the Philipsburg Jubilee Library and the National Heritage Foundation were also late with their 2014 annual accounts, but they did submit their 2013 accounts.
On time were the Princess Juliana Airport Holding Company, Telem, Winair, Saba Bank Resources, the Government Building Foundation, the Central Bank, the Mental Health Foundation, Turning Point, and the St. Maarten Development Fund.
Source: Today SXM Many St. Maarten Government entities are behind with annual accounts