Palacio Says G.O.B. Cannot Return to Previous Monies for Honorarium

Luke Palacio

So how will Faber be able to access monies from government’s coffers?  It’s a question or a notion that Palacio scoffs at, since he’s all too familiar with how that financial system works.

Luke Palacio, President, Belize National Teachers Union

“It is so unfortunate, those of us who are aware, have some knowledge of how government finances work, at the end of the financial year if you do not spend money that has been allocated to you, you need to return it to the national coffers.  You don’t go and spend it in the next financial year.  So if he’s saying or he’s giving anybody the belief that this is monies from last year, then again he is double wrong because that is not the way the financial orders work.  Monies that you don’t use, in fact, and that is why you find that when you deal with ministry individuals or persons that would say to you, the financial year is finishing next month, try spend whatever money you have not yet spent because you’ll have to return it.  So, but equally as important, when he is now saying that this money has been budgeted in the new budget, when he first made that announcement he was saying that he and the prime minister found this million dollars.  He and the prime minister agreed to provide this million dollars.  He never said it was out of the budget allocation for this year.”