fp Turks and Caicos

The Turks and Caicos Islands budget for 2012-13 is set for a detailed review by the Consultative Forum and Advisory Council after U.K. ministers set total revenue and spending figures.

“U.K. ministers have requested an involvement in the earlier framework setting stage of the budget process, where total levels of revenue and expenditure will be set, leading to determination of net surplus available to fund the capital programme and the proposed fund for loan repayment,” said Chief Financial Officer Hugh McGarel-Groves.

“They will not be directly involved in the subsequent review and finalisation of detailed revenue and expenditure components, which is rightly the crucial role of the Advisory Council and Consultative Forum during the middle part of May.”

Chairwoman Lillian Misick told the forum at its March 27 meeting that the order of the process “has incited considerable outrage because it calls for the draft budget to be signed off by U.K. ministers on 19 April before being submitted to the Consultative Forum on 7 May.

“The general impression is that this proves that the U.K. intends to use the forum as nothing more than a rubber stamp. This impression is understandable of course. But it is mistaken.”

The forum is scheduled to have two weeks to review the budget and make recommendations after ministers approve total funding levels.

“Of course, only time will tell,” Misick said. “But I want to assure the public that this body will do all within its power to ensure that our budget promotes our sustainable economic development. Even if this means boycotting the budget approval process to prevent the British from making us indentured servants to debt payments in perpetuity.”

Last year many forum members felt they were rushed through the budget process, which ended without their public review and input.

Misick canceled the final budget meeting because she said several forum members would not attend and there would not have been a quorum. Six members denied boycotting the meeting, saying they had asked for another week to review the budget.

“I have no doubt, especially given the controversy surrounding last year’s timetable, that members will be very keen to voice any disagreement they have with any of its provisions,” Misick said of this year’s process. “And I am equally certain that all disagreements will be duly reconciled — notwithstanding prior approval by U.K. ministers.”

Budget timetable

• March 13: Budget submissions from new permanent secretaries
• March 26-30: Permanent secretaries and department heads finalise draft budget
• April 19: Governor, CFO, PS Finance approve draft budget, submit to U.K. ministers
• May 7: Draft budget submitted to Advisory Council, Consultative Forum
• May 14: Advisory Council approves budget
• May 21: Consultative Forum approves budget
• May 23: Governor approves budget