The Good Bad and Ugly reality of TCI Statutory Boards Report revealing

first_img Related Items: Facebook Twitter Google+LinkedInPinterestWhatsApp Facebook Twitter Google+LinkedInPinterestWhatsAppProvidenciales, Turks and Caicos Islands – March 6, 2018 – Thirteen statutory boards were a part of a recent review commissioned by the Turks and Caicos Islands Government and the best and worst of the lot were identified by the consultant hired to do the job.Stephen Turnbull is the former UK-appointed Chief Financial Officer for the Turks and Caicos Islands and his 24-page report, which was presented to the Governor and Premier on January 24, 2018 gives some eye-popping data.The best of the boards were identified as the Financial Services Commission (#FSC) and the National Insurance Board (#NIB) with the FSC being the only board with a risk management strategy.   The worst of the statutory boards was a more shocking list because it included the board managing the country’s leading industry, the board managing tertiary education and the board overseeing the airwaves.The Tourist Board, the Community College Board and the Telecommunications Commission were all put in the ‘running badly’ category.   Among the characteristics of a board functioning badly were laid out in a press conference last Thursday where the Governor, His Excellency Dr. John Freeman shared this could mean from badly structured meeting agendas, to meetings that focused hardly or not at all on the more important responsibilities of the board, to there being weak qualifications or completely unqualified leaders or inflated compensations.Making the ‘ugly’ category were three other boards, one of which the Turnbull Report recommended should be completely dissolved.The National Health Insurance Board is by far the most problematic board for the country.  In fact, it was the financial hemorrhaging of the health care plan which in 2016 prompted the review.  Turnbull recommended a dissolution of the #NHIB.The National Trust and the Ports Authority are the two others which make the ‘ugly’ category as they were identified to be, among other things, ‘too large’.The ‘vast majority’ of the recommendations in the Turnbull Report have been accepted over two meetings by the Turks and Caicos Cabinet.  The idea of scrapping the NHIB was not accepted at Cabinet and so were the suggestions to return the responsibilities of the TCI Tourist Board back to Tourism and the Community College back to Education.The Governor and Premier vehemently resisted that the Report will lead to a dismantling of the statutory boards, instead there are string of meetings which will now happen.Government Ministers responsible for the 13 boards reviewed will have meetings, the recommendations will be discussed in those meetings and a way forward will be determined.The Premier said the review and subsequent actions are all in the name of good governance and reducing financial risk through the establishment of best practices.last_img

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