Cost-of-living adjustment could be paid in the next six days in St. Maarten



THURSDAY, 26 JULY 2012

PHILIPSBURG--"All wheels are turning" to allow government to pay out the cost-of-living adjustment (COLA) within the next six days, says Finance Minister Roland Tuitt.

Tuitt said on Wednesday that the COLA had been processed by not filling vacancies and utilising the funds that would otherwise have been used to fill those vacancies.

"So if you look at it strictly from an accounting perspective you don't need the budget amendment right away to pay the COLA as an advance, so based on that all wheels are turning so it will be paid at end of the month," he said.
The minister initially had indicated that Parliament would have to handle the budget amendment prior to the COLA being paid. However, with Parliament on recess, he turned to other legal means to make the payment.