Finance Minister orders overdue audit of OZR fund

GREAT BAY--Minister of Finance Marinka J. Gumbs, has instructed the Government Audit Bureau (SOAB) to conduct a full financial audit of the OZR Fund, which is managed by the Social and Health Insurances (SZV) on behalf of the Government of St. Maarten.

While SZV itself undergoes annual audits, the OZR Fund has not been independently audited in more than ten years. The initiative aims to strengthen transparency and accountability in the management of the OZR (“Overheidsziektekostenregeling”) Fund, which provides health coverage for civil servants, teachers, government-affiliated employees, and their dependents.

The last completed financial audit of the OZR Fund dates back to 2012. Although steps were taken to begin audits for the 2016–2018 period, they were never finalized. Minister Gumbs has now acted, in coordination with SZV, to ensure that financial audits of the fund will be conducted annually going forward.

“Regular, timely audits are essential to maintaining trust, transparency, and sound financial management,” said Minister Gumbs. “By making this a yearly process, we are reinforcing oversight and strengthening confidence in how public resources are managed.”

In May 2025, the Council of Ministers approved an increase in the government’s monthly OZR contribution from NAf 5.5 million to NAf 6 million. The adjustment reflects government’s commitment to maintaining the fund’s long-term sustainability and ensuring it continues to meet the healthcare needs of its beneficiaries.

For years, uncertainty surrounded the exact amount owed by government to SZV, largely due to the absence of consistent audits. This will now be addressed through a separate assignment. The government has pledged to prevent further accumulation of debt to SZV by enforcing annual financial reviews and implementing stronger controls to promote transparency and fiscal responsibility.

“Enforcing yearly financial audits marks another step in our commitment to sound governance and accountability,” Minister Gumbs added. “By confronting long-standing challenges, we are laying a stronger foundation for transparency and sustainability within our public finances.”

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