WILLEMSTAD – More than half of the organizations reviewed by the Curaçao government reportedly failed to meet their financial reporting obligations despite receiving public subsidies. According to MFK Member of Parliament Ishahier Monte, only 19 out of 42 examined organizations submitted annual financial statements in accordance with the applicable requirements.
Monte has submitted ten written questions to Finance Minister Charles Cooper, also an MFK member, requesting clarification on why organizations that do not provide proper financial accountability can continue to qualify for government funding.
According to Monte, the findings of the General Audit Chamber of Curaçao raise concerns about transparency and the management of public funds. Of the 42 foundations, associations and other legal entities reviewed, 23 did not submit annual accounts that met the required standards.
The parliamentarian argues that without proper financial reporting, it remains unclear whether government subsidies are being used exclusively for the purposes for which they were granted.
Need for stronger monitoring
Monte is asking the minister what causes the government has identified for the poor compliance among subsidized organizations. He also wants to know whether a monitoring system exists to regularly evaluate how organizations spend the public funds they receive.
The MFK parliamentarian questioned whether organizations that repeatedly fail to comply with financial reporting requirements should continue receiving subsidies. He suggested that the government should consider suspending, reducing or completely withholding subsidies in cases of continued non-compliance.
Monte is also requesting an updated overview of all organizations receiving government subsidies. According to him, this overview should indicate which organizations have submitted their annual accounts and other required financial documents and which have failed to do so.
Public money and accountability
The names of the 23 organizations that allegedly failed to meet their reporting obligations have not been disclosed in Monte’s questions. It is also not specified how much subsidy money is involved or which reporting year the figures relate to.
Monte further wants the minister to explain what legal options the government has to stop payments to organizations that do not meet their obligations.
According to the parliamentarian, the current subsidy policy should be reviewed to introduce stricter requirements and strengthen transparency, accountability and responsible management of public funds.