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Financial Management Regulations Relaxed Due to Delay in Adoption of New Appropriation Ordinance

April 10, 2023 - St Helena

In a move to address financial constraints, the St Helena Government has announced relaxation of certain financial regulations until further notice.

Background

According to sources, the decision was made due to delays in the adoption of the new Appropriation Ordinance for the current financial year. The ordinance, which outlines government expenditure and revenue projections, is typically passed within four months of the start of the financial year. However, this year’s ordinance has yet to come into force.

Key Changes

• Withdrawals from Consolidated Fund: Accounting Officers can withdraw up to one-third of the aggregate amount provided in the previous year’s Appropriation Ordinance and any subsequent Supplementary Appropriation Ordinance.
• Special Warrants: The Governor, acting on the recommendation of the Financial Secretary, can issue warrants without prior approval from the Legislative Council.
• Notification timeframe: Withdrawal Warrants and Special Warrants will be notified to the Legislative Council 20 days after issuance, up from 10 days previously.

Purpose

The relaxation of these regulations is aimed at ensuring that government services continue uninterrupted while awaiting the adoption of the new Appropriation Ordinance. The Government has assured the public that it will continue to prioritize transparency and accountability in its financial management practices.

Contact

For further information, please contact the St Helena Government’s Corporate Finance department at [insert contact details].