first_img TCI begins loan re-financing talks Government surplus $60M, slammed by PDM Party Recommended for you Facebook Twitter Google+LinkedInPinterestWhatsApp Cabinet launches consultation drives Related Items:cabinet meeting, first quarter, Public Finance Management Ordinance, surplus Facebook Twitter Google+LinkedInPinterestWhatsAppProvidenciales, 11 Nov 2014 – From the Turks and Caicos Islands Cabinet Meeting, November 6, 2014“Noted the positive financial performance of the Turks and Caicos Islands Government for the second quarter of the financial year 2014-2015 for the period July to September 2014. Year to date results showed an operating surplus of $43.9 million, this result is a positive variance of $27.9 million over the budgeted surplus of $16.0 million and $32.6 million over the last year’s surplus of $11.3 million. Year to date recurrent revenue outturn was $122.4 million, which was $18.4 million or 18% above the budgeted outturn of $93.7 and $28.7 million or 31% above the results of the same quarter last year. Year to date recurrent expenditure outturn totalled $76.8 million, which resulted in a favourable variance of $8.6 million or 10% when compared to budgeted outturn of $85.4 million and $2.8 million or 4% above the results of the same quarter last year. Cabinet also approved the publication of the said financial report as required by Section 46 of the Public Finance Management Ordinance 2012.”last_img

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