Marigot: ---The Collectivity of St. Martin it is understood is already in the red when it comes to its financial obligations. SMN News has learnt that several persons who are working on contracts for the COM have not been paid for a period of two months. It is further understood that even the salaries for the 700+ employees are not guaranteed. SMN News understands that one of the burdens faced by the COM is the amount of foreign personnel that was hired and has huge salaries and other overhead expenses that has to be carried by the COM.
The COM it is said has to also meet these workers house rent and other expenses while they are on St. Martin. Outside of that, the Collectivity has been paying out large amount of monies for the vehicles that are being leased for the elected officials. Based on this the COM does not have any types of monies for projects and other investments.
Sources close to the finance department said that the elected officials based their budget on their assessment rather than the actual income of the COM. It is said the elected officials under the UPP umbrella did not take into consideration the lost of the Octroi de Mer funds, which amounts to over 10 million Euros and the taxes, which is not always collectable. Another hindrance the taxes is collected on an annual basis and not a monthly basis. According to sources, the COM already used up the (dotation generale de functionment) general expenses and now they are not able to make their monthly payments.
Another point of concern is that the COM when making their budget did not make provisions for the loss of income due to the economic crisis.
SMN News has learnt that senator Louis Constant Fleming travelled to Paris last week where he managed to get some monies to assist the COM. Fleming could not be reached by phone up to press time to confirm if in fact the matter has been solved. SMN News will bring you an update on this matter when the information becomes available.
