Topic: surplus

Government's latest unaudited financial records have shown higher-than-projected surplus figures for the first half of the year. The Ministry of Finance, however, has cautioned against overspending as 2024 rounds off.

Government expenditure is expected to be just $3.3 million less than government revenue this financial year, Premier Wayne Panton has said.

Government earned $19.5 million more in revenue in the first six months of the year, compared to last year's figures, driven in part by a hike in stayover tourism, vehicle charges and work permit fees.

A third-quarter unaudited financial report shows the Cayman Islands government had greater revenue and spent less than its projected budget.

The Cayman Islands government has taken in more money than budgeted in the first nine months of 2018. The unaudited financial results for the public sector for the first three quarters show an overall surplus of $183.3 million, almost double the $92.6 million surplus budgeted for this point of the year.

The Cayman Islands government has a lot more money in the bank than it thought it would by June 30.

The upcoming government budget incorporates aspects of a development agreement between the Cayman Islands public sector and the Dart group of companies, Premier Alden McLaughlin announced Monday.

A projected $145 million operating surplus for the Cayman Islands government will be at least partially spent on public projects and paying off debt, according to budget records examined by the Cayman Compass.

The Cayman Islands public sector will end its current budget year with a $145 million operating surplus, Premier Alden McLaughlin told a private audience at The Ritz-Carlton, Grand Cayman Tuesday night, noting that the total surplus over three years is $399 million.