Haiti - FLASH : FNE debts amount to more than 2 billion gourdes

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Haiti - FLASH : FNE debts amount to more than 2 billion gourdes
16/03/2025 09:21:57

Since taking office, Sterline Civil, the new Director General of the National Education Fund (FNE), has conducted a thorough assessment of the institution's organizational, financial, and accounting situation, which revealed that the institution lacked control over its debts and that the financial and accounting data did not reflect its true financial situation.

The institution's debts amount to more than 2 billion Gourdes (2,353,917,086) and significantly exceed available funds. This is due to the discrepancy between construction progress, payments made, commitments to contractors, and the collection of taxes on transfers and telephone calls from the diaspora.

Initial analyses revealed financial inconsistencies and major organizational challenges :

- Fragmented accounting management, relying on Excel files, resulting in discrepancies between the various financial statements; - Lack of consolidated financial statements, making it difficult to obtain a comprehensive and reliable understanding of the FNE's financial situation;
- Underutilized accounting system, preventing optimal transaction traceability;
- Significant liabilities, with accumulated debts compromising the institution's financial viability.

Faced with these findings, Sterline Civil implemented a strategic recovery plan focused on four priority areas:

1 - Cleanup and reliability of accounting data :
- Correction of accounting inconsistencies and implementation of an account reconciliation system;
- Centralization of data in an integrated accounting system, eliminating the use of external files.

2 - Inventory and valuation of the FNE's assets:
- Completion of a comprehensive inventory of the institution's property and equipment;
- Assessment of the real value of assets to ensure better asset management.

3 - Rigorous management of debts and financial commitments:
- Repayment planning and negotiation with creditors to ease the financial burden;
- Verification of contractual commitments to ensure compliance and avoid unjustified expenses.

4 - Modernization and structuring of the accounting and financial system:
- Automation of financial reports to ensure better traceability of transactions;
- Implementation of a strengthened internal control process, ensuring rigor and transparency in resource management.

As part of this reform, the FNE announces the launch of FNEConnect, a digital platform designed to facilitate grant applications for pupils and students. This tool will enable:

- Online submission of grant applications, thus simplifying administrative procedures;
- Real-time monitoring of application progress, ensuring speed and transparency;
- Personalized support through online assistance available Monday to Friday, from 8:00 a.m. to 3:00 p.m.

Through these reforms, the FNE aims to ensure better control of its finances, strengthen transparency, and provide beneficiaries with easier access to educational services. These efforts are part of a drive toward modernization and accountability, with the aim of ensuring a more robust and equitable educational future for all.

HL/ HaitiLibre