SINT MAARTEN (GREAT BAY) - The National Recovery Program Bureau (NRPB) has received unqualified audit opinions on its 2025 project financial statements, continuing an eight-year record of clean audits for projects under its management.
The audited financial statements were formally presented to Prime Minister Dr. Luc Mercelina by NRPB’s Head of the Department of Finance Joan May and Deputy Director Rueben J. Thompson on Wednesday, September 16, 2026.
“Eight consecutive years of clean audits show that accountability is a standard upheld year after year. This record reflects the professionalism and discipline of the NRPB team and assures the people of Sint Maarten that recovery funds are managed responsibly and for their intended purpose. I commend the entire team for safeguarding public trust and strengthening the systems supporting our country’s long-term development. It also gives the people of the Netherlands a strong sense of accountability and transparency in how these resources are managed “Honorable Prime Minister Dr. Luc Mercelina.
An unqualified opinion is the formal audit term for what is commonly called a clean audit opinion. It means that the independent auditor concluded that the financial statements fairly reflect, in all material respects, the financial position of the projects and were prepared in line with the applicable requirements.
The 2025 audits were carried out by Grant Thornton Sint Maarten. The auditors also examined whether reported expenditures were eligible and used for their intended purpose, whether the required procedures were followed for expenditures submitted to the World Bank, which administers the Trust Fund, and whether project accounts accurately reflected the flow of funds.
The audits provide an independent check on how funds supporting Sint Maarten’s recovery and development are accounted for and whether the financial rules attached to those funds are being followed.
Behind each annual audit opinion is work that takes place throughout the year.
The NRPB Financial Management team monitors project activities throughout the year to make sure spending remains within the approved framework and that the supporting documentation is in place.
Project funds must be used in line with the purpose and conditions set out in each grant agreement. Invoices and supporting documents go through several levels of review, starting with the relevant project staff and continuing through program management and final approval. The Finance and Procurement teams also work together to ensure that contractual and financial requirements are met.
These checks are ongoing, not something that begins when the audit approaches.
Over eight audit cycles, the NRPB's financial management systems have had to keep pace with a growing and evolving portfolio of projects, different implementation stages and increasingly complex transactions, while still applying the requirements attached to each individual grant.
The NRPB serves as the Project Implementation Unit for the majority of projects financed through the Sint Maarten Trust Fund, which supports the country’s recovery, reconstruction and resilience program.
The 2025 audited project financial statements, along with previous years’ reports, are available on the NRPB website at https://nrpbsxm.org/officialpublications.
The Sint Maarten Trust Fund is financed by the Government of the Netherlands, administered by the World Bank and implemented on behalf of the Government of Sint Maarten.
