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Thursday, April 3, 2025

NCC owes $78m to service providers

by

Shaliza Hassanali
2185 days ago
20190410
Chairman of the Public Accounts Committee Bhoendradatt Tewarie greets, National Carnival Commission (NCC) chairman Winston Peters and NCC’s chief executive officer Colin Lucas, at yesterday’s meeting.

Chairman of the Public Accounts Committee Bhoendradatt Tewarie greets, National Carnival Commission (NCC) chairman Winston Peters and NCC’s chief executive officer Colin Lucas, at yesterday’s meeting.

ABRAHAM DIAZ

The Na­tion­al Car­ni­val Com­mis­sion (NCC) has racked up a debt of $78 mil­lion in the last two years.

The rev­e­la­tion was made be­fore a Pub­lic Ac­counts Com­mit­tee meet­ing chaired by Dr Bhoe Tewarie, as they ex­am­ined of­fi­cials of the NCC on the ex­pen­di­ture and in­ter­nal con­trols for the pe­ri­ods 2010 to 2018.

Ap­pear­ing be­fore the com­mit­tee at the J Hamil­ton Mau­rice Room, Par­lia­ment Build­ing, Port-of-Spain, on Wednes­day were NCC’s chair­man Win­ston “Gyp­sy” Pe­ters and its CEO Col­in Lu­cas, Min­istry of Com­mu­ni­ty De­vel­op­ment, Cul­ture and the Arts and Au­di­tor Gen­er­al’s de­part­ment of­fi­cials.

In his open­ing state­ment, Tewarie ex­pressed con­cern that the NCC had not been meet­ing its statu­to­ry re­quire­ments, and as a re­sult had a num­ber of unau­dit­ed ac­counts out­stand­ing.

An­gela Ed­wards, Per­ma­nent Sec­re­tary in the min­istry ad­mit­ted that NCC’s lack of au­dit­ed fi­nan­cial state­ments was a ma­jor chal­lenge in iden­ti­fy­ing their gaps, weak­ness­es and in­ter­nal con­trols.

NCC has for­ward­ed its 2012 draft ac­counts to the Au­di­tor Gen­er­al, while they are still fi­nal­is­ing the fi­nan­cial records for the years 2013 to 2017.

The com­mit­tee heard that NCC has no in­ter­nal au­di­tor, but a con­sul­tant who pre­pares their fi­nan­cial state­ments. But Lu­cas as­sured the Com­mit­tee that this will be rec­ti­fied as they in­tend­ed to re­tain ac­count­ing staff.

Pe­ters ad­mit­ted that NCC’s biggest headache was not re­ceiv­ing Gov­ern­ment fund­ing on time, which en­cum­bers the State-owned or­gan­i­sa­tion.

“As a re­sult of that, I have in­her­it­ed re­cur­ring back­log of ex­pen­di­ture that you have to use from this year to fi­nance the next year and the next year to fi­nance the year be­fore. The on­ly con­straints we have is the late­ness with the dis­burse­ment of funds. Car­ni­val is the best di­ver­si­fi­ca­tion tool that we could have in this coun­try if we use it as such. We have to look at Car­ni­val as a gross for­eign ex­change earn­er. They can’t see that? How long are we try­ing to get that across? The time has come for us to do that. If we don’t spend the mon­ey... you on­ly get out of life what you put in­to it,” Pe­ters com­plained.

Pe­ters said if things con­tin­ued the way they are, T&T would be put in­to a sit­u­a­tion where we would be do­ing the same things over and over and ex­pect­ing a dif­fer­ent re­sult.

He lament­ed that there was no way NCC can mar­ket T&T’s Car­ni­val in­ter­na­tion­al­ly giv­en the fi­nan­cial po­si­tion they cur­rent­ly face.

Tewarie en­quired from Pe­ters what was NCC’s cur­rent debt, to which act­ing fi­nan­cial man­ag­er Nigel Williams re­vealed that it was $78 mil­lion.

In 2018, Williams said NCC had racked up a debt of $34.9 mil­lion, while this year the fig­ure stood at $44 mil­lion.

“Half of that debt that he (Williams) is talk­ing about is owed to providers....peo­ple who pro­vide us from year to year and they have to wait un­til next year to get this year’s mon­ey. This is a car­ry-over debt for years....it is ac­cu­mu­la­tive,” Pe­ters said.

Pe­ters said be­cause the NCC lives in con­stant debt, it ties his “hands, feet and brain. It lim­its our ca­pac­i­ty to make Car­ni­val a bet­ter prod­uct.”

NCC which is the gov­ern­ing body for Car­ni­val was al­lo­cat­ed $139 mil­lion for this year’s Car­ni­val, which was $9 mil­lion less in 2018.

Pe­ters said it would be wish­ful think­ing if the Gov­ern­ment were to wipe out NCC’s debt, giv­en the coun­try’s fi­nan­cial con­straints.

“We are nev­er go­ing to get it (debt cleared). NCC has to try and bal­ance it­self with the mon­ey that we have here and con­tin­ue to try and in­vest in cer­tain things that would bring mon­ey back to the NCC di­rect­ly and that is the way we would be able to have some lit­tle mon­ey to pay off some of our debts dur­ing the course of the year and not de­pend on the Gov­ern­ment,” Pe­ters said.


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