Crucial reports held by ministries

Annual
reports submitted to a number of Cayman Islands government ministries and
portfolios sat in those offices for years in some cases, keeping them from
being presented to the Legislative Assembly and therefore the wider public.

The
annual report documents contain financial information about each
publicly-funded entity, as well as summaries of their activities for the year.
Often those records provide lawmakers key information in making funding decisions
for upcoming years.

At
least half a dozen government entities – statutory authorities and
government-owned companies – testified before the Public Accounts Committee
that they had completed various financial statements and annual reports and had
submitted those reports to their ministries for review.

“In
a number of years, no such annual report accounts have been laid before the
Legislative Assembly,” said Cayman Islands Stock Exchange Board Chairman
Anthony Travers.

According
to testimony before the Public Accounts Committee, the Cayman Islands Airports
Authority, the Cayman Islands Development Bank, the Cayman Islands National
Insurance Company, the Electricity Regulatory Authority, and the Information,
Communications and Technology Authority all had submitted various annual
reports which were still being held somewhere within government.

Both
committee Chairman Ezzard Miller and Acting Auditor General Garnet Harrison
said they were not aware of what caused the delays in presenting those annual reports.

Please
see more on this story in next week’s editions of the Caymanian Compass…

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