PHILIPSBURG–Government will be giving cash-strapped University of St. Martin (USM) an incidental subsidy of NAf. 90,000 to help the institution, which is experiencing financial woes.
Education Minister Wycliffe Smith said the institution’s financial situation has been discussed with USM as well as in the Council of Ministers.
“The Council of Ministers has decided that an incidental subsidy will be granted, based on certain conditions, that was signed off on before the holidays and there is a memorandum of understanding (MOU) to be signed with USM shortly in which the way forward so as to ensure that the finances of USM will be once and for all dealt with,” Smith said in response to a question during the Council of Ministers press briefing on Wednesday.
“At this moment the matter concerning the finances at USM – they are under control, because we have had the discussion with USM and the MOU will determine the way forward.”
Source: The Daily Herald https://www.thedailyherald.sx/islands/84159-usm-to-get-incidental-naf-90-000-subsidy
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