Monrovia – Vice President Jewel Howard Taylor has addressed concerns about the financial transition to her successor, Jeremiah Kpan-Koung. Reports have circulated suggesting that the outgoing Vice President is leaving an empty coffer for her successor.
By Henry Karmo, [email protected]
Unlike her predecessor, Joseph Nyumah-Boakai, who handed over substantial funds, gas coupons, and vehicles, Vice President Taylor clarified that the apparent financial vacuum is a result of the completion of the fiscal year, which now aligns with the calendar year from January to December.
In her response, Jewel Howard Taylor highlighted the shift in the budget cycle, explaining, “When I took over as VP, the budget year was July 1 thru June 30, and that was why funds were left in the budget for the balance of 6 months. Currently, the budget year runs from January to December.”
The Vice President emphasized that the national budget operates under approved budget laws of Liberia, is not for profit, and follows a cash-based system. Requests from entities are approved based on the availability of cash, as outlined in the cash plan.
Under the revised laws, the new government will have the opportunity to approve the budget for the current year. If not approved within the next few months, entities will request and receive 1/12 of the budget. VP Taylor assured that the Office of the incoming Vice President is not disadvantaged by this process.
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