Education Minister Wycliffe Smith with representatives of USM Foundation and staff of the Ministry during the signing of the MoU.
PHILIPSBURG–Minister of Education, Culture, Youth and Sports (ECYS) Wycliffe Smith last Friday signed a Memorandum of Understanding (MoU) with the board of University of St. Martin (USM) Foundation, with parties agreeing to the terms of government’s continued subsidy for the institution.
Smith said on Wednesday the cooperation between government and USM is a pivotal factor in government’s goals for tertiary education.
“USM has gone through a thorough auditing exercise by SOAB [Government Accountants Bureau – Ed.], and the Ministry and USM are all pleased with the outcome,” Smith said during the Council of Ministers press briefing on Wednesday.
Over the last several years, USM received an annual subsidy of NAf. 850,000. However, in the 2019 budget USM’s subsidy was increased to NAf. 1,750,000. The MoU indicates what USM Foundation has to do to be able to receive the subsidy. “One of the last things we are waiting for from USM Foundation is their vision and business plan. As Minister of ECYS, I would like to thank the staff of the Department of Education, the SOAB, and the Board, Management and staff of the USM for their cooperation in making it possible for the Ministry and USM to be able to conclude the deliberations with the signing of an MoU.”
Source: The Daily Herald https://www.thedailyherald.sx/islands/91001-smith-usm-sign-mou-on-govt-s-continued-subsidy
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