With the revised draft budget for 2027, adapted after the Cft previously refrained from issuing an opinion, Bonaire takes a step forward. However, concerns regarding the financial feasibility of the plans persist. This was stated by the Board financial supervision Bonaire, Sint Eustatius and Saba (Cft) following a working visit by the Board to the island on October 26. The Cft spoke with the Executive Council regarding the draft budget for 2027 and the strengthening of the financial organization.
Cash Resources Could Impede Investments
The Public Entity Bonaire is about to initiate projects involving high costs. Through 2028, Selibon requires approximately USD 26 million in liquidity support. In addition, there are co-funding contributions for Regio Deal projects, educational facilities, and infrastructure. It appears that not all of these expenditures have been incorporated into the financial budget. This also means that it is difficult to properly estimate liquid resources, which already have limited availability. These liquid resources are necessary to effectively carry out important investments.
Financial Organization: Comprehensive and Safeguarded
The Executive Council presented measures to strengthen the financial organization, including a gap analysis, a fixed Planning & Control cycle, and financial controllers embedded within departments. The Island Governor (Gezaghebber) also referenced the gap analysis in his letter to the State Secretary as a measure to strengthen the Public Entity’s organization and implementation capacity. The Cft views this positively. Given that elections are approaching, it is necessary to permanently safeguard these improvements so that a subsequent Executive Council can build upon them. As an active stakeholder, the Cft will closely monitor these developments.
Tourism
The Cft also met with TCB, Bonhata, and Stinapa. Tourism represents approximately half of Bonaire’s economy and is therefore a vital pillar for healthy and sustainable public finances. The Cft encourages Bonaire to develop a multi-year vision for tourism and connect an investment agenda to it, thereby ensuring that the island remains attractive to future visitors. By attracting tourists from the Western Hemisphere, tourism is spread out and the low-season drop is reduced, keeping revenues steady in the long term as well.