1. At the most recent open
session of Executive Council the first ever set of Financial Statements for St
Helena Government (SHG), on an accruals basis, under the International Public
Sector Accounting Standards was signed by the Financial Secretary. The opinion
on these accounts was then given by the Chief Auditor. This was an important
step for SHG and further emphasises the open and transparent approach being
taken by Government.
Financial Secretary, Colin Owen, stated:
Financial Statements are the most important financial documents ever produced
by SHG. They provide for the first time a comprehensive and detailed picture of
Governments financial position. The level of detail now being published
surpasses anything previously issued and provides an excellent starting
position for us to work on and improve. We will be looking to provide detailed
financial discussion and analysis as a forward to the accounts in the future.
June of this year St Helena Government has issued a monthly Performance Report
giving an overview of SHGs performance, corporate risk management, balance
sheet, income and expenditure and capital expenditure.
Financial Statements add to the open approach being applied by Government and
support our monthly report process.
I believe that the new format provides the reader with a better understanding
of how SHG is doing, both financially and also in achieving the priorities set
out in the Sustainable Development Plan. Finally, I would like to thank all the
staff within Corporate Finance and the St Helena Audit Service for their great
efforts in producing and auditing the Statements.
of the abovementioned documents can be found on the SHG website via the below
Helena Governments Financial Statements 2011-12