THA budget preparation begins

The Tobago House of Assembly’s (THA) Division of Finance and the Economy has commenced the preparatory process of the annual budget statement.

Secretary of the Division of Finance and the Economy, Joel Jack, said he officially issued the Call Circular 2020 document on March 23 to all divisions under the THA.

“The circular is issued pursuant to Section 41 (1) of the Tobago House of Assembly Act which states that, the secretary with responsibility for finance shall, in each financial year, submit to the assembly for its approval, draft estimates of revenue and expenditure, respecting all functions of the assembly for the next financial year.

“The circular provides divisions of the Tobago House of Assembly with instructions to be followed in the preparation of draft estimates of revenue and expenditure for the accounting year 2021.”

Jack said the responsibility for the compilation of the draft estimates is that of the Division of Finance and the Economy. He said divisions are required to ensure that their submission reaches the Division of Finance and the Economy’s budget section, and the Department of Planning, Office of the Chief Secretary no later than April 20.