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The Editor speaks: I receive nothing, you receive thousands – for the same position

Cayman Islands Auditor General, Sue Winspear, has just released a report examining pay and benefits to the boards of directors of 24 government companies and statutory authorities.

Some receive nothing and some receive thousands.

Do the one’s that receive nothing put in the same hours as the ones that receive thousands?

That was not disclosed.

Apart from the ones that receive nothing the vast majority receive only between $150-$200 a meeting for volunteering their services.

The Cayman Islands Monetary Authority is a big standout as the chairman (Wayne Panton) receives $4,000 a month, his Deputy $2,000 and each board member $1,500 per month.

Even bigger is OfReg. Linford Pierson is the current chairman, and he receives $4,500 per month, his Deputy $2,500 and board members $2,000.

The next largest pay out drops significantly down to $562 per meeting for the chairman of the Maritime Authority, Phillip Barnes, and $375 for board members.

Philip Rankine, the Cayman Airways chairman receives nothing as does his other board members. Wait, though, before applauding. Rankine and other board members receive free flights for themselves and THEIR FAMILIES on all Cayman flights. During the 18-month budget period under review, ending Dec. 31, 2017, the seven board members were given a total of 416 airline tickets! The cost? $80,000!!

How many hours a month do all these persons actually put in to justify these sums? Do they meet every month or more, or less?

Apparently the roles and responsibilities of boards of directors are not the same. The norm seems to be attending regular meetings and setting broad policy goals. Some even get to hire and fire the CEO.

The majority of all these persons have other jobs or are retired.

According to the Aud Generals’s Report, in the 18-month budget period, the 24 Statutory Authorities and Government Companies Board Members cost us a total of $788,000!

Worse still, OfReg that only operated EIGHT months during this eighteen month period, paid out

$113,000 of that $788,000!!!

It was only a few month ago OfReg was asking for more money to operate.

Also included in the Report was the number of persons employed in these statutory authorities and government companies – 2,743. over the 18 month period the total payout was $249 million!

Can you guess who has the largest number of employees? No prize if you are right. It is the Health Services Authority. 851 persons. It also had the highest average salary for key personnel at $13,434 a month.

All of us who live here must be very healthy to justify all the above.

Whilst I am on the subject of health, my least favorite government body CINICO – Cayman Islands National Insurance Company pay out $5,384 per month for regular workers (the persons who actually do the most work), whilst the key personnel receive $12,473.

Winspear says. “There is currently no standardised job evaluation system or salary and allowances scale for SAGCs. The Public Authorities Law intends to deliver a standardised pay system, but the implementation date for this particular clause in the law has been pushed back to June 2019.”

I have no doubt it will get pushed back again. Even a year away is too near for government to act.

But they should. Our revenues we are receiving now will not go on forever.

It doesn’t matter if I receive nothing for doing the same job as others. Its the others that receive thousands that should be worried. Money goes into a pot and it is not bottomless. It also shrinks in size.



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