Topic: Public Management and Finance Law

An internal investigation by Deputy Governor Franz Manderson, in response to an audit report that had found financial and legislative irregularities in planned funding for Cayman's overseas offices and the Dubai World Expo, has found no breaches occurred, because the money was ultimately not spent or needed.

The Cayman Islands government will announce its budget plans in the midst of hurricane season this year, changing to a two-year budget cycle approved by the previous administration.

The Cayman Islands government will begin publicly reporting how much money it earns and how much it spends every three months, beginning in January 2018.

The Cayman Islands will receive permission to pay off $8 million to $12 million of its national debt ahead of schedule if changes proposed to the government’s financial management law are approved next month.

The Cayman Islands government may still be acting “without proper authority” during the renegotiation process for a major land development agreement, officials with the Auditor General’s Office said last week.

The Cayman Islands Government recently approved a subtle change in the territory’s finance law that will leave the door open for “abuse and corruption at the very highest levels,” representatives of the Auditor General’s Office said last week.