The Opposition is calling for greater accountability from Government Ministers when it comes to late financial reporting.

The statement comes in the wake of the Auditor General’s annual report which revealed $523m in Government money is unaccounted for. It’s a problem brought on by tardy filings from a slew of Government QUANGOs and public funds. Deputy Opposition Leader Patricia Gordon-Pamplin said: “As the Auditor says, the Government’s Code of Conduct places responsibility for late reporting squarely on the shoulders of the Ministers responsible. Were they to crack down in a wholehearted way, the problem would be well on its way to a complete resolution.”

Mrs. Gordon-Pamplin is also the Shadow Minister for Finance. In one section, her statement reveals what may be a discrepancy, or perhaps an out-of-date list. She outlined four Government funds and branded them as the “worst offenders”.

They are: Contributory Pension Fund, Government Employees Health Insurance Fund, Hospital Insurance Fund and Mutual Insurance Fund.

However Minister of Finance Paula Cox explained that two of those funds — Contributory Pension Fund and Government Employees Health Insurance Fund — have been submitted for audit. She further explained that the other two ‘offenders’ have been under the control of the Bermuda Health Council since 2005, where the new Chief Executive has made it a priority to bring all financial reports up to date. Minister Cox said: “Included in the Auditor General’s report is status information on the outstanding accounts/audits of some entities and I would encourage Honourable Members and members of the public to read this section of the report.”

No matter how the data is interpreted, both women seem to agree that the issue of late financial reporting needs immediate attention, but perhaps disagree on how the attention should be paid.

Mrs. Gordon-Pamplin said: “The habitual offenders, those who have been in arrears for more than three or four financial years, should be brought before the Minister of Finance without delay, to explain their delinquency.”

The Finance Minster, perhaps as an example to her Cabinet colleagues, has brought all public funds under her purview up to date — however some of the financial statements still need to be audited because they were received after the Auditor General’s January deadline. The combined total of the Finance Ministry’s public accounts is $330m, according to the Minister. She added: “Progress has also been made on the financial statements of other Government entities.”

To that end, Mrs. Gordon-Pamplin highlighted in her statement a detailed list of public funds that are performing well by reporting on time. She also took great effort to ensure that the public understood the $523m was not missing, but rather unaccounted for because the Auditor General has not been able to verify the money’s whereabouts in time to print it in his annual report.