The St. Maarten Carnival Development Foundation (SCDF) is hoping to finally have its financials together before the start of the New Year. Newly elected President Stuart Johnson explained that the board has been devoting months and hours to regulating the foundation’s financial situation.
Johnson, along with new treasurer Erno Labega, has been going over the figures and working closely with PricewaterhouseCoopers in order to finalize the audit of the foundation’s books. Once PwC has all the necessary information and can finalize the process, the report will then go to government.
Government requires that the foundation submits audited reports before it can release almost Naf 300,000 it still has for the foundation. Johnson said once the foundation obtains the money from government, it can start paying entities for services rendered to the SCDF and award stakeholders their prizes.
"We are almost there," Johnson said. "We understand the frustration of people who are still waiting on us but the financial situation was not a rosy one and it is taking a lot of work to regulate. This new board will ensure that once this process is complete, financial discipline will be of vital importance to make sure that the SCDF never goes through a period like this again," he said.
As for other preparations for Carnival 2011, the board will release additional information this week. "Despite the primary focus on the financials, we have been getting a lot done for Carnival 2011. With the cooperation of the public we are certain that the festivities next year will be unforgettable," he said.