By Tanny.E.Vahi
THE Isabel Provincial Assembly has passed its 2017/2018 supplementary budget on March 14.
The approved amount of $27,709,125 was derived from internal and external revenue sources and had been used over the past months on recurrent and capital subheads.
Isabel provincial Treasurer, Mrs Ilene yesterday the passage of the budget should assist in the process of regularising funds that had already been received and expended over the pasts.
“The recession is behind us and the province economy is looking up. The province economy is creating good, loan-paying jobs and has led the country in economic growth last year and is poised to do so again in this year.
“We will hold the line on spending increases and invest in new opportunities that create good jobs and diversify the economy. We will make sure the benefits of the province in strengthening the economic recovery will last.
“Tabling a supplementary bill by any government could be a signal of praiseworthy or doubtful performance depending much on the nature and level of expenditure to be regularised.
“In our case certain expenditure were poorly managed, some were under estimated thus resulting in notable over runs following increase in the level related activities.
“Whilst others were included in fulfilment of specific executive resolution which unfortunately had to be halted awaiting the outcome of the next provincial and national elections.”
She said a concerted effort was mounted to pursue some of this revenue to counter the level of aggregated expenditure noted last year.
She added that the provincial executive was mindful over the number of divisional programmes awaiting funds in the treasury department.
The effort was undertaken to ensure funds are made available to push them through before the 2017/2018 financial year lapses.
