“Missing Financial Papers” In Barbados Government Funded Organization – We Can Guess Where They Are!

Why is it that the Government of Barbados seems incapable of maintaining proper financial records for organizations that are supported by tax dollars?

From The Nation News (link here)

Concern Over Missing Papers

CONCERNS have been raised over missing documentation, following the review of late financial records produced by Gymnasium Limited to auditors KPMG.

Gymnasium Limited has responsibility for the day-to-day management of the Garfield Sobers Sports Complex.

In the auditor’s report on the company’s financial statement for the period up to March 31, 2003, laid in Parliament just two weeks ago, it was noted that verification of certain assets was limited.

“Property and equipment from the National Sports Council was vested in the Gymnasium Ltd., the completeness and ownership of which is not susceptible to satisfactory audit verification due to the absence of relevant documentation,” the chartered accountants stated.

The audit, dated October 7, 2005… (snip)

…Addressing reasons for the 2003 financial statements only reaching Parliament in 2006, (manager) Ken Mason said the financial statements for Gymnasium Ltd had always been behind schedule “from the outset”.

Financial Statements Behind Schedule “From The Outset”

Manager Ken Mason says the financial statements have been behind schedule “from the outset”.

Oh… Well, that’s ok, then Mr. Mason!

Mr. Mason should be aware that when public money is involved, it would be “nice” if his organization kept proper financial records.

If memory serves, Mr. Mason is a long-time BLP supporter and has hopes of being the BLP candidate for St. Philip North. With this latest demonstration of his fiscal records keeping skills, St. Philip North residents can be assured that if elected, Ken Mason would fit right into a BLP government!

Where Are The Missing Financial Records?

Yes, folks, we can guess exactly where those missing financial records are…

They have been tucked away in the same same file folder that contains the GEMS Hotel Scandal financial records… and that file folder has been missing for some years now!

22 Comments

Filed under Barbados, Politics & Corruption

22 responses to ““Missing Financial Papers” In Barbados Government Funded Organization – We Can Guess Where They Are!

  1. Littleboy56@caribsurf.com

    This is but one more example of what theBLP has done over the past 12 years. We are yet to know the cost of Greenland,NHC buildings at Warrens and Country Road,GEMS and a whole lot more. Do these people not realize that the money they spend/squander belongs to the people of Barbados?
    Plainly put, somebody wants jailing!!The buck stops at the PM/Minister of Finance.He has to give us answers.
    Calling Owen, Mia, Clyde et al. Come into court!!!

  2. Anonymous-

    Clearly the Board of Gymnasium Limited needs to be fired.

  3. Economix

    How do we get stolen money back??
    Can stolen funds be re-patriated,somehow?
    Can illicit properties be sold,
    and the Taxpayer refunded?

    All that stolen money in Cayman accounts and elsewhere, must be brought back to Barbados, to help fix the Q.E.H.

    Usually,no effort is ever made to even think like this.
    The scamps are allowed to keep their ill-gotten gains, and that’s it!
    No wonder others are encouraged to do likewise!
    The best we can hope for is that someone goes to jail, but that is little consolation for an overtaxed,over-stolen society in need of kidney dialysis and other essential medical equipment!
    How do we get stolen money back where it belongs?
    The entire wealth of Guyana quite likely resides in numbered Swiss accounts,
    and no-one ever did a thing about repatriating the wealth of that country.
    Are we a bunch of Taxpayer Fools,
    who can easily be taken for a ride,
    time after time after time? administration after administration?
    -the answer is a big fat Yes!

  4. John

    The Bird’s were technologically way ahead but this lot are hot on their tail.

    The Bird’s actually ran a paperless Government in Antigua, a goal only dreamed of by normal everyday businesses.

  5. Anon

    I agree with economix that it is just not good enough that these corrupt BLP politicians will be allowed to just lose their seats and sail into the sunset with their money.We are demanding from the DLP that they give the voting public the assurance that :

    I) Investigations will take place and persons will be prosecuted and sent to jail where found guilty

    2)Stolen property will be returned to the tax payers of Barbados

    3)Integrity legislation will be passed with haste

    Every single Blp minister has had his or her name called with some kind of underhand dirty deal,and we need to know if they are innocent or guilty.For example:
    Mia – joint ownership of many companies e.g. Jose & Jose,Ajax construction,Apt buildings at the traffic light at rendezvous hill ,cuts from contract etc – Madame minister can you prove these people wrong?

    Owen Arthur – A condo at Port St Charles,joint ownership of car rental company with Mr Wilkinson and other cut backs.I read months ago that B’dos free Press had it that you had 44 million in Miami?True or false?

    Billie Miller – ownership of minibuses with a Ms Adams of S.Y.adams stores, and other private propeties,any truth to that?

    Kerrie Symmonds – ownership of a plantation in Ch:Ch.Did you buy it in your name or a family member’s name?

    George Payne and Dale marshall – Please explain your relationship with Mr Barrack of Barrack construction re the warrens bldg,the country rd bldg et al.

    Anthony Yearwood – can you tell us if you have shares in any construction company that has been able to get goverment contracts?Did you benefit during your tenure as minister of Transport with any special benefit re the purchase of a luxury high-end car?

    Joe Edgehill – what about the little matter of the drugs at Q.E.H. a couple years ago?

    Reggie Farley – Mr Mascoll made reference in the house before he was elevated to higher duty about your purchase of a plantation house any truth to that and if so how on your salary were you able to do that?

    Noel Lynch – Please tell us about that plantation you bought in Apes hill and if any of those cost over – runs with projects under your minstry reached your pockets?

    Liz Thopmson?Isn’t there conflict of interest to have your husband participate in contracts while you are the minister responsible?Some one on this site said you can also tell us abou 3 NHC lots which you got cheaply etc etc

    Glyne Clarke – The lot at Lower Burney,and any other involvement which had a conflict of interest of a scent of corruption?Pray tell us

    Lynette Eastmond – You were intially given a consultancy job of over $500,000 during your initial involvement with this government then when you quckly became a minister did that payment cease?
    Well ladies and gentlemen I am getting tired asking all these questions which the journalists of the country should be asking so I’ll stop here for know,while the other ministers wait to see if I have any questions for them too.

  6. Jane

    Life is funny.

    On the subject of Antigua when the previous government was in power, Allen Stanford was criticized coming and going, now he is being knighted! Makes you think, nuh?

    2006
    See caribbean360.com website “Texas-born billionaire, R. Allen Stanford is set to receive the island’s highest national honor – a knighthood -during Antigua’s 25th Independence celebration”

    2002
    Antigua in the shadow of R. Allen Stanford
    By Peter Fritsch
    (Reprinted from The Wall Street Journal, March 5, 2002)
    Guyana Chronicle
    March 31, 2002

    “ST JOHN’S, Antigua – This sun-drenched Caribbean island, famous for its cricket stars, palm-flattening hurricanes and outsized corruption scandals, is fast gaining another reputation: as the personal fief of R. Allen Stanford, a Texas developer and international banker ……………….

    Where most balk at lending to a bloated and revenue-strapped government with a record of mismanagement and corruption – it hasn’t presented audited national accounts to its Parliament in a decade – Mr. Stanford has ponied up about $65 million. In short, says a recent editorial in Mr. Stanford’s Antigua Sun, he is that unusual benefactor who has eschewed personal profit to boldly answer John F. Kennedy’s famous call: “Ask not what your country can do for you, ask what you can do for your country”.
    Mr. Stanford’s detractors say the government of Prime Minister Lester Bird has become so indebted to Mr. Stanford over the past 12 years that it is only a matter of time before the two-island nation of 70,000 sees another, less altruistic side of the voluble Texan. “This man has a lien on our whole country”, says government opposition party leader Baldwin Spencer.
    That may be an overstatement, but consider the recent discovery made by an independent commission investigating official corruption in the building of the new hospital. In the course of its investigation, it found that Mr Stanford’s Bank of Antigua was being repaid a $30 million construction loan with money coming directly from the island’s social-security system. One angry commission member asked Bank of Antigua’s president, Kenny Byron, whether the government “was being taken to the cleaners”, in the deal. Mr. Byron told the commission, “Yes”.
    In an interview, Mr. Stanford says he doesn’t lend money to the government “without an absolute guarantee of getting paid”. He gets those guarantees by having government airport-exit taxes, property taxes and landing fees signed over to his bank. “It’s like one of those automatic debit-card deals”, he says.”

  7. Economix

    Interesting!

  8. Rumplestilskin

    “It’s like one of those automatic debit-card deals”, he says.”

    LOL. Now that IS funny. Unfortunate yes, but funny.

    Yes, sir. No, sir. Three bags full, sir.

    Nothing personal against the feller. Just that how was he allowed to come into that position?

    Hmmm…..

    Me guess its like the quote attributed to Forbes Burnham…allegedly to have said to someone (before availing each of them with some quality liquor from his private collection):

    ‘Socialism is for the masses, not the likes of you and I’….

    Bah humbug…

  9. Economix

    Rumple…
    Many thanks for today’s (cynical)
    Pearl of Wisdom,
    and who better to have said it than The Man Himself..

    “Socialism is for the masses,
    – not the likes of you and I….”

  10. Jupiter

    Isn’t amazing that with all the information that we are getting on this site re gov’t alleged infelicities that all the Nation newspaper can muster up as investigative journalism is’Pudding and Souse?’

    Oh for the reincarnation of Gladstone Holder one of our journalist brethren.I use the term ‘our journalist brethren’ deliberately because we who ferret out information and seek to provide same to the public on this site are to my mind – all citizen journalists.

    Gladstone Holder in an article titled “No rest for the wary” which discussed Prime Minister Tom Adams attack on a journalist said: …..Surely it is reasonable to ask:If reporters ought to lose their jobs for what are believed to be errors in regard to publication of news,what should be the fate of rulers whose political management is believed to have ruined businesses and put thousands of people out of work?

  11. Green!

    Aahh boy.. Small Island ting!

  12. Jupiter

    Green

    You sound very tired,but please remember – Don’t get weary in well doing.Keep vigilant.

  13. Rumplestilskin

    Dear Santa:

    I would like this list please:

    – Audited Financial Statements for the GEMS project, including detailed income and expenditures, valuations for all properties BEFORE the purchase by Gov’t (dated before the purchase, not post dated), price paid, expenditures, to whom paid and income and expenditures of the operations to date. Current Valuation also.

    – Detailed reports of engineers on Greenland, expenditures to date (audited again please), projected cost to completion, proposal by Canadian company to run and expected cost to taxpayers per annum going forward. What will be done with Mangrove….a National Park? Or is this destined to private ownership?

    – detailed analysis of expenditures on CWC. To whom paid by category of expenditure. This will be preferable to a global statement on the cost, amounts being lost in the ‘mire’.

    – detailed analysis of operations of NHC. Details of land appropriated by Gov’t and detailed listing of lots aquired by citizens and their income categories. This information will assure the citizens that purchases are all to those citizens unable to afford their own ‘market value’ lots.

    – detailed expenditures to date on the Warrens building, including the contract with original builder, his detailed list of costs, costs of the Chinese to date and cost to complete. Engineers reports and to settle any confusion, correspondence between the original contractor and Gov’t. Copies of any tenders given…were any?

    Adequate information to the public to assess the Gov’t mis-management of this project is preferable to the typical modus operandi of this Gov’t of not accepting the responsibility, instead passing the buck, in this instance by alleging in the paper a few weeks back that the arbitrator had awarded too much. So, let us see the documents.

    – detailed projection for the cost of the flyovers, and to whom amounts will be paid. Engineers reports and reports of any traffic specialists consulted.

    – details of all those companies in which Gov’t Ministers have a stake and are doing Gov’t business. Are there any? If so, details of projects undertaken, how awarded and the amounts paid.

    – details of the proposal given to the Gov’t for the waterpark and what transpired.

    – details of the oil surveys conducted on behalf of Gov’t and the result. Cost and future expected cost of the oil platforms and to whom amounts are being paid for the operation of these. If there are any agreements with oil companies, details please.

    Santa, this sounds a lot but it is necessary for the peace of mind of us humble Barbadian citizens.

    Thanks.

  14. Velzo

    What ever happened to the FBI investigation?

  15. Anon

    Santa

    While you are at it could you find out which of the Prime minister’s friend has made a killing $8 milliion dollars for renting large construction equipment for the flyover project?

    Does the name Hal help any santa?

    Ho Ho Ho – Merry Christmas.

  16. ross

    Santa
    please do not forget to get for us the details of the tenders for the proposed ethanol factory and the details for the new prison.

  17. John

    Will the Father of First World Barbados please hear these poor peoples wish lists and become for one moment in time, Father Christmas?

  18. Velzo

    Hal or Hob or Rod or Cow or Biz they are all the same!

  19. Anon

    Velzo,Littleboy and others –

    I noticed David Thompson at a branch meeting last night stated that the Dlp is committed to putting in place Integrity Legislation – see today’s Nation newspaper.I am glad.

    However from the comments being posted on this site the voting public has matured and is more educated and savvy and they don’t want integrity legislation only,they want to see people jailed for theft and corruption once proven.

    Remember Mr Thompson, words will not be enough for this crowd,and sadly they will hold you to a higher standard because unlike owen arthur you don’t use intimidation as a weapon of choice.

  20. Jane

    Rumplestilskin, may I use your list to Santa as the start of a draft? Other bloggers have already added more questions.

    It might be a worthwhile exercise to try to get our concerns in one place and see what it looks like.

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