Mr Speaker, Having now successfully stabilized the government of Saint Lucia's fiscal position, I am very pleased to deliver the 2024-2025 budget statement of estimates of revenue and expenditure. The 2024-2025 estimates will lay the foundation for sustainable growth in the economy and will provide real hope for our people. Hope that will provide investment and employment opportunities across all major sectors of the economy. We are able to achieve that suite despite the precarious position of the economy in 2021 and worsened by the COVID-19 pandemic. We will continue to provide tangible expressions of our commitment to putting people first. Mr Speaker, In present in the 2024-2025 estimates, it's important to reflect on the government's performance in 2023-2024. In addition to showing we are an accountable government, this process of reflection will show that this government is credible delivering on the promises it makes. This is a government that has earned its trust, the dividends of which are showing with increasingly investor confidence and respect and fruitful cooperation with friendly governments and regional and international institutions. In preparation for today's sitting, these estimates of revenue and expenditure were distributed last Tuesday evening after the meeting of the House of Assembly, providing eight clodies for members to adequately review the figures for an informed debate. The global economic environment for the 2024-2025 is no less challenging than that of the previous fiscal year. Global economic growth remains sluggish, interest rates remain high as major industrialized countries try to keep inflation under control. Supply chain issues remain a problem and the security of the world continues to be undermined by the walls in Ukraine and Gaza. And rights at our doorsteps, the political instability and violence in Haiti. The uncertainty of the possible negative effects of climate change are ongoing threats towards the viable as a small island developing state. It is imperative that provisions be made to build resilience for adaptation to climate events in all our infrastructure and agricultural programs. Notwithstanding the economic global challenges during 2023-2024, this government as the economic data will show has done well in managing the economy. Our financial ratios illustrate fiscal prudence and responsibility. Mr Speaker, as it is customary and keeping it for our public finance management legislation, today we are presenting the first part of the process, which is the presentation of the estimates of revenue expenditure for the fiscal year 2024-2025. The appropriation bill will be presented later in April 2024, when the policies that underpin this bill will be articulated and discussed. Mr Speaker, as I have indicated earlier, the foundational theme underlying this government's strategic initiatives has become an article of faith putting people first among members of my government. Mr Speaker, permit me now to account for my government stewardship of the economy for 2023-2024 before the presentation of the estimates for 2024-2025. Mr Speaker, my presentation for the most part will focus on the budgetary summary, while ministers will provide further details as they present on their respective ministries. Mr Speaker, I am pleased to report that government's performance improved over the fiscal year 2023-2024 despite the challenges that I spoke of earlier. With customer and investor confidence on the up, total revenue of 1.68 billion was raised to finance government's operations and capital projects, the elements of which as follows. Domestic revenues 1.28 billion, loans 140 million, grants 73 million, bonds and charge bills 82.6 million. Mr Speaker, on the expenditure side, the government's prudent management will have kept well within the 2023-2024 budget ceiling of 1.856 billion. The data up to February 2024 points to government spending approximately 1.68 million for the fiscal year 2023-2024 and estimated 9.3% below the approved estimates of 1.856 billion. In 2023-2024 expenditure on government operations fell by 9%, moving from 1.44 billion to 1.31 billion due to a reduction in project operating costs. Additionally, there was lower expenditure on capital projects of 259.6 million as compared to the project expenditure of 302 million. The latest experience in procurement and administrative processes were the main reasons for the shortfall. Capital expenditure increased over last year by 68 million or 4%. Mr Speaker, this year there was a primary surplus of 104 million, 42 million more than last year and 62 million more than the approved estimates. Current account surpluses of 156 million or 47 million over 2023 and recurrent account surpluses of 46 million or 49 million over 2023. Overall Mr Speaker, the primary balance is 1.5% of GDP as compared to 1% last year. The analysis shows that the results of this fiscal year were better than last year, illustrating an improvement in the performance of the solution economy. These surpluses are not to be interpreted as the government having extra cash. Instead it is the result of prudent fiscal management of the country's financing which allowed it to more than meet its recurrent expenditure leaving excess revenue to cover in part the country's debt obligations in interest payments and principal payments. Mr Speaker, had we not been able to do so, the government would have had to borrow to meet some of its recurrent expenditures like salaries and wages, rents, utilities and the like. We have responsibly guided this scenario and will continue to avoid it with prudent fiscal management of the government's financing. Mr Speaker, the primary surplus balance indicates that the country is developing the capacity to reduce its level of debt over time. A deficit on the primary account would have indicated that revenue on grants would be inadequate to pay the interest on debts. As a result, no contribution would have been made towards any reduction in the debt expenses. Mr Speaker, I hope this explanation has debunked the idea by some who may wish to mislead the public that government has generated more cash than it needs. Mr Speaker, not understanding these current occurrences, the government will experience an overall deficit in 2023-2024 of 111 million or 65 million less than last year indicating a lowering of the deficit gap. Mr Speaker, I look forward to the day when our revenue on grants will be sufficient to cover both current and capital expenditure leaving us with an overall surplus. If this country is kept in the hands of responsible men and women to administer as is the case now, it may one day get there. Mr Speaker, wages and salaries for the fiscal year 2024 of 517 million anticipated to fall below the approved estimates of 531 million by approximately 2.6% of 14 million. This reduction primarily stems from the lower than expected project management expenses emanating from delays in project implementation. Wages and salaries for 2023 will 535 million or 18 million more than this year. Due partly to the payment of retroactive payments to public servants last year. Mr Speaker, the debt payments are the first call on the consolidated fund and every effort continues to be made to honour these obligations in a timely manner. Mr Speaker, for the year-end outlook we anticipate 326.2 million will be paid towards our debts. 215.1 million interest payments and 111.1 million in principal payments. Last year we spoke about the increases in interest payments due to the significant upward trend in the SOFR rates because of the steady increases in the federal fund rates during 2023. Although the rates remain high, the estimated amount projected fell below the approved estimate for 2023-2024. Mr Speaker, for the year-end outlook this government would have paid 231.5 million dollars in transfer payments 3.2% lower than the approved figure of 239.1 million but 10.5% above the payments made in 2022-2023. These payments went to subsidise the operations of state-owned entities, increases to organisations supporting the poor and marginalised, public assistance to the most needed in our society and the payment of school facility fees. Mr Speaker, expenditure in goods and services will amount to 309.9 million for 2023-2024, approximately 95.9 million below the amount approved for the same fiscal year. Mr Speaker, in this category of expenditure are rentals of government premises, utilities, training, consultancy fees, operation and maintenance and purchase of supplies and materials. The lower expenditure than what was approved is mainly due to reduced payments for consultancy services. The lower expenditure that was approved is mainly due to reduced payments for consultancy services related to capital projects and other government initiatives. Mr Speaker, in the 2023-2024 budget year we approved 302 million in capital expenditure with 19.2 million being non-project capital and 282.9 million for capital projects. Non-project capital items refer to the purchase of government assets such as vehicles, furniture and other equipment not associated with projects. While project capital refers to buildings, infrastructure and equipment associated with specific projects. Mr Speaker, we are projecting an overall spend of 259.6 million in capital expenditure for the year 2023-2024, a 14.1% decrease from what was approved in the estimates. Mr Speaker, a significant portion of funds allocated for capital expenditure comprise of design finance control DFC commitments. For the year 2023-2024 the government was obligated to pay 106 million to settle DFC commitments limiting the government's investment in new infrastructure. The government's priority now is to significantly reduce these DFCs to provide the fiscal space for the implementation of key infrastructure projects. Mr Speaker, the enactment of the procurement bill is proven to be on earth and has resulted in an impediment to the government's level of project implementation as relates to the procurement of goods and services. There is therefore need to revisit the act with a view to finding optimum balance among the essential elements of good governance. Mr Speaker, there is an urgent need to remove some of the administrative bottlenecks that continuously undermine the level of implementation of government projects. We shall be addressing these bottlenecks issues in 2024-2025 fiscal year so that we can deliver the much needed services to the people of Senusia. Mr Speaker, despite these challenges this government will continue to deliver on its capital portfolio. I shall provide more details of these projects during my policy address. Public sector projects this year, 2023-2024 included renewable energy sector development project, OECS tourism projects, disaster vulnerability and reduction projects, St. Jude reconstruction project, commencement of construction of the northern police headquarters and commencement of construction on the custody suites. I now turn to the revenue Mr Speaker. Mr Speaker, allow me to discuss government's revenue performance for the fiscal year 2023-2024. Mr Speaker, there has been much misinformation and exaggeration from the opposition of the impact on the local economy regarding the implementation of the health and security level. For the purpose of clarity the health and security level provided a relatively small but important collective contribution to the huge demands that health and safety places on the resources of the country. Mr Speaker, the projected collection from the health and security level was approximately 35 million designed to finance in part rising healthcare costs and security needs of our country. However, given the delay of implementation of the level we are estimating a collection of 18 million by the end of the fiscal year 48% less than projected. This means Mr Speaker that from the increase in revenue of 118 million dollars over last year only 18 million can be attributed to the health and security level. Mr Speaker, an analysis of the country's health and security obligations should place in context the need for the levy and the need to be proactive in taking measures that will help the government keep pace with rising costs especially in health. Let's take a closer look at what government spent in this fiscal year 2023 to 2024. The direct cost of healthcare provision of healthcare services 160 million capital expenses Saint-Jule Hospital reconstruction project 17 million health system strengthening project 5.3 million OECS regional health project 2.3 million universal health coverage 700,000 other projects on the health 3.4 million total capital expenses on the health 28.7 million total health expenses 188.7 million other expenses the government is indebted to several private local and foreign healthcare facilities that provide medical care to citizens. National security provision of national security services 84.7 million capital projects 1.5 million total expenses 86.2 million other expenses relating to the purchase of vehicles and equipment will be outlined in the policy statement Mr. Speaker note that expenses for bodily have not been included Mr. Speaker direct government expenses on the health and security was 275 million for the fiscal year 2023 to 2024 however only 18 million was collected from the health and security levy to fund the needs of the country Mr. Speaker I want to repeat direct government expenses on the health and security was 275 million dollars for the fiscal year 2023 to 2024 however only 18 million was collected from the health and security levy to fund the needs of the country Mr. Speaker although will fall short of our projected total revenue target for 2023 to 2024 revenue collection continuously indicate an upward trend because of increasing economic activity resulting in improved performance in several revenue areas notably personal income tax taxes on goods and services and excise tax on petroleum products Mr. Speaker grant receipts are normally tied to the implementation of projects with the less than desirable level of project implementation only 73 million has been anticipated a 50.3 percent decline in the amount approved for 2023-2024 in addition Mr. Speaker non tax revenue is projected to perform below the approved amount by approximately 29.9 million due to lower receipts of voluntary transfers based on the foregoing Mr. Speaker total revenue grants fall short of the target receipts by 121 million or 7.8 percent Mr. Speaker when compared to last year recurrent revenue increased by 124 million and total revenue increased by 118 million financing as previously indicated the government anticipates in its fiscal operations leading to a narrowing of the fiscal of the fiscal deficit from the approved estimate of 176.4 million or 1.8 percent of GDP to an estimated 111 million or 1.6 percent of GDP by year end additionally the primary surplus is forecasted to exceed the approved amount of 42.4 million additional total of 104 million the projected out turn entails disbursements towards the following items of expenditure loans 139 million reflecting a strategic utilization of borrowing to meet critical funding requirements for the developmental projects and infrastructure Mr. Speaker let me repeat loans for 2020 139 million dollars loans received for 2023-24 139 million dollars Treasury bills and bonds 82.6 million demonstrating the approach in utilizing debt instruments to manage liquidity to meet short to medium-term financing this includes the insurance of Treasury bills and bonds to efficiently raise capital while maintaining financial stability and market confidence the government's ability to raise capital relates to high investor confidence in solution since this government took over the management of this country this this was evidence by the debt unit recording over 92% rover of Treasury billing instruments Mr. Speaker the government remains committed to prudent financial management let Virginia diversified financial strategy that encompasses born raising loan disbursements and Treasury bills to ensure sustainable fiscal health and economic growth 2020-24 2020-24 was a fiscally well managed year setting the platform for an even better 2024-25 Mr. Speaker I come now to the 2024 2025 estimates Mr. Speaker this government having delivered successfully on the promises made to the people of solution project confidently seeks to deliver even more to the people of solution in its estimates of revenue and expenditure for 2024-25 Mr. Speaker we are steadfast in our commitment to meeting the hopes and aspirations of the people of solution fiscal responsibility truth truth and respect for the people of solution to guide what we have promised in our 2021 manifesto Mr. Speaker as we go through the budget processes today and next month our intentions will be fully articulated Mr. Speaker the theme for the 2024 estimates have been titled the year of infrastructure our aim and objective are to transform the economy of solution for infrastructure development physical social and digital in the upcoming year we plan to focus on the following 1. Road expansion and repair programs 2. School plant rehabilitation 3. Government plant refurbishment 4. Construction works at St. Jude hospital 5. Commencements of work on the Sufre hospital 6. Establishment of the Cass Street urban polykinic 7. Completional works on the Lariusus Wellness Center 8. Rehabilitation of sporting facilities including Dyer and Sammy Cricket Ground for readiness to host the ICC Cricket World Cup the refurbishment of the Viewford stadium the Mindo Phillip Park and Marsha and Marsha Grounds the Bellevue Plainfield and the Grozily Plainfield 9. Construction of the National Aquatic Center 10. Housing developments in Rosu Kazaban Shop 11. Expansion of energy projects to seek alternatives that will diversify our energy needs and reduce our carbon footprint 12. The Labry Market 13. Rehabitation of the Rudy Jones Beach Park 14. The Gun Revere Community Center 15. The Northern Police Headquarters 16. The Northern Police Auditorium 17. Completion of the Custody Suites 18. The Kaldisap Community Center 19. Community Center for Cass Street's North and Cass Street's East 20. Completion of the Control Tower at the Iwanore International Airport 21. Commencement of the Terminal Building at the Iwanore International Airport 22. Private Public Service 23. Private Public Scythe Construction by GPH at Podcast Street and Souffle 23. The Canaries Market 24. The Miku Jetty 25. Community Tourism Projects 26. Repair to Fishing Complexes 27. The Viewport Entertainment Center 28. The... 28. The Halls of Justice 29. The Digital Infrastructure Enhancement 30. Investments in Upgrading Government Services to Online Platforms Additionally Mr. Speaker we shall seek to strengthen the resilience of our people and our people and our people the resilience of our fire service expand food security programs continue to support our youth and small and medium size enterprises and leveraging the opportunities the Blue Economy presents Mr. Speaker there will be something for everyone in this budget as we improve our infrastructure citizens can look forward to better roads safer school plans housing opportunities and increased support for the poor and vulnerable members of our society Mr. Speaker we intend to continue to expand our digital infrastructure by completing key projects that will improve the delivery of government services to the public and reduce the cost of doing business Mr. Speaker during this fiscal year investment from the private sector is expected to be robust particularly in the tourism industry Mr. Speaker I will have more on these and other initiatives during my policy statement next month summary of the 2024-2023 estimates of revenue and expenditure expenditure recurrent expenditure 1.502 billion capital expenditure 298.9 million interest payments 232.5 million principal payments 92 million total expenditure 1.89 billion revenue tax revenue 1.33 billion non tax revenue 146.8 million capital revenue 2.8 million grant 108 million total revenue 1.576 billion we project an overall deficit of 214.9 million after deductions of principal payments and refunds we forecast a 5.8 nominal increase in GDP for 2024-2025 to 7.3 billion from 6.9 billion for 2023-2024 Mr. Speaker as the fiscal position of our country continues to improve we expect that the administrative procedural bottlenecks and difficulties in accessing government services will be removed this fiscal year government will continue on the path of fiscal consolidation and economic growth however enhancing the quality of life of the people and creating opportunities for wealth creation will remain the main objective of this government recurrent expenditure Mr. Speaker for the 2024-2025 financial year the government is proposing to spend 1.5 billion in recurrent expenditure representing a 4.2% increase for 60 million over the amount approved for 2023-2024 this level of increase in recurrent expenditure over the last year indicates the government's commitment to improving the quality of life of the people the government's efforts coupled with a rise in investor confidence and growth in the private sector provide encouraging signs that real economic growth in 2024 is expected by ransom natural disaster or negative global economic event recurrent expenditure represents 79.3% of total expenditure compared to 77.7% approved for the 2023 fiscal year this increase in expenditure is reflected in all categories due to increased government services and higher rental payments Mr. Speaker the component wages and salaries represent the land share of recurrent expenditure amounting to 577 million comprising 460 million in salaries and 170 million in retirement benefits and is approximately 40% of the upcoming budget this amount is approximately 1.2% over the amount approved in 2023-2024 and 5.8% over the outrun for this fiscal year of which 38.5 million are salaries for staff working on various capital projects Mr. Speaker the fiscal year 2024-25 325.4 million has been allocated for debt servicing a decline of 5.8 million or 1.7% on the approved amount for 2023-2024 this decline is due to a reduction in principal repayments from 112.3 million approved in 2023-2024 to 92.9 million for 2024-2025 interest payments on the other hand are expected to remain high due to the increasing trend in variable interest rates for the fiscal year 2024-2025 total interest payments allocated are 232.5 million representing an increase of 6.2% over the approved amount for the previous fiscal year 153.4 million of debt servicing represents domestic debt while 171.5 million represents foreign debt Mr. Speaker I am pleased to inform this Honourable House that Senlucia continues to meet its debt obligations in a timely manner and on the terms negotiated Mr. Speaker I earlier indicated that this budget would have had something for everyone in particular vulnerable and marginal groups in our society as in the previous two budgets we will continue to provide the much needed support to the not-for-profit organizations supporting various humanitarian causes such as the homes for the elderly for persons with disabilities and other similar groups Mr. Speaker we will also continue to provide for our state-owned entities and regional international organizations of which we are apart so that the mandates of these organizations can be fulfilled among these organizations are the OECS CARICOM and the University of the West Indies as it relates to the University of the West Indies I want to reaffirm my government's commitment to meeting its obligations to this institution having trained me and so many of our sons and daughters or in many cases have gone on to make St. Lucia and the wider Caribbean region proud we can do no less if only out of gratitude and respect for this highly high quality educational institution Mr. Speaker transfer payments will increase by 2% to over the approved 223.4 to 243.4 million or an increase of 3.2% over the outrun for 2023-2024 Mr. Speaker this category goods and services is the second largest expenditure component of the budget which represents 23% of government expenditure for the coming financial year 441.3 million has been allocated to this category representing an 8.8% increase over the amount approved in 2023-2024 the main items of expenditure that account for the increase are goods and services associated with ongoing capital projects like the Millennium Highway Road Construction and St. Jude Hospital in both cases the increase system from higher global prices in sourcing supplies and materials other increases in goods and services are increased in rental payments for orange grove plaza new requests for accommodation for government offices proposed implementation of the tax administrative software upgrade of the government budget module and the replacement of smart stream financial system for which technical and software support is no longer provided in addition allowances have been made for the establishment of a separate ministry of national security and a high commission in Ottawa, Canada Mr. Speaker this fiscal year will be the year of infrastructure in all its forms the details of which will be articulated in my policy statement next month Mr. Speaker as I mentioned before a concerted effort will be made to remove the administrative bottlenecks in the public service that continue to undermine the efficiency of government services Mr. Speaker as it relates to capital expenditure for 2024-2025 budget the government has allocated 298.9 million and 15.1% increase over the out turn for 2023-2024 it is important to note that capital expenditure constitutes 61.6% of the total investment portfolio of the government which is approximately 484.9 million the investment portfolio is a combination of total project expenditure comprising project capital and project operating and non-project capital of the total allocation of 484.9 million for developmental projects and amount of 130 million or 2 or 26.8% of the total is proposed for the department of economic development and the youth economy this amount will cater for payments to St. Jude hospital construction project 67.2 million the constituency development program 22.7 million disaster vulnerability reduction project 10 million economic recovery and youth empowerment project 6.2 million implementation of the street lighting replacement project 6.1 million Mr. Speaker the department of infrastructure ports and transport has been allocated 85.1 million accounting for 17.6% of the resource envelope for the fiscal year for the following major projects Millennium Highway West Coast road development project 41.7 million road improvement and maintenance program 10 million renewable energy sector 9.8 million St. Julian Arhant Highway 8.3 million Mr. Speaker this year the allocation for the department of infrastructure will be for new and current road repairs and construction payment for DFC contracts are excluded during the fiscal year 2024 payment to contractors for DFC projects will be the food because they will have been paid during this financial year this means that the government through management of his fiscal management of his cash and his fiscal resources could have found the 60 million dollars due to contractors that should have been paid in 24-25 can be used this year for new road infrastructure projects Mr. Speaker in my policy statement again I will outline plans for the road construction and repair programs idon't mind Mr. Speaker of the 47.3 on 9.8% of the developmental budget is also been proposed for the department of education for the coming year for the following projects solution human capital resilience project 16.4 million major repairs rehabilitation of school plan 14.2 million the OECS skills and innovation project 4.8 million Mr. Speaker the department of finance has been allocated a sum of 43.4 million or 6.9% of the developmental budget to facilitate the implementation of on leashing of the blue economy project 11.2 million the budget module upgrade and implementation 7 million Mr. Speaker my government is also proposing to allocate 29.8 million or 6.2% of the developmental budget to the department of health to support the health systems strengthening project 6.7 million the OECS regional health project 3.6 million project supporting post COVID-19 response 11.4 million and projects including the initiatives leading to universal health coverage Mr. Speaker consistent with the care in nature of this government the department of equity has been allocated a sum of 25.4 million or 5.2% of the developmental budget to facilitate the implementation of the home care program 9 million the Senusia Human Capital Resilience Public Assistance Component 5.3 million the BNTF 10 program 4.3 million and other social programs 6.8 million Mr. Speaker the minister of youth development and sports without lying the exciting projects in sports development including the semi-professional football league plans for the renovation of plain facilities island wide and preparation for the World Cup cricket matches to be paid in Senusia later this year Mr. Speaker these are some of the most significant projects however the ministers without lying the other capital projects in their portfolios during their presentations Revenue I now turn my attention to the revenue to be collected to finance the government's expenditure as outlined in the 2024-2025 estimates I am pleased to report that revenue collection is now back at pre-COVID levels we believe that revenue collection can be improved with a reduction in the administrative and procedural bottlenecks that currently exist for the upcoming year we are forecasting a collection of total revenue and grants of 1.576 billion an increase of 1.2% or 18.1 million over the approved amount in 2023-2024 and 8.4% over the amount collected for the end of this fiscal year the breakdown of revenue and grants as follows recurrent revenue 1.48 billion capital revenue 2.9 million grant receipts 108 million recurrent revenue Mr. Speaker recurrent revenue inflows are projected to increase by 61.9 million relative to the approved estimates of 2023-2024 reaching a total of 1.48 billion for the fiscal year 2024-2025 when compared to the revised estimates for the preceding year recurrent revenue would have increased by 99.6 million or 7.2% this increase is expected in part to be due to expansion construction activities in both the public and private sector and the multiply effects of continued growth in tourism the total amount projected for recurrent revenue will be in the form of tax revenue or 1.33 billion and 146.8 million in non-tax revenue tax revenue is forecasted to increase by 6.1% in comparison to the recurrent for 2023-2024 while non-tax revenue is expected to increase by 19.2% compared to the recurrent for 2023-2024 Mr. Speaker the increase in tax revenue will be influenced by the continued recovery in economic activity increased tax compliance removal of bottlenecks in key areas and expansion of private sector enterprises the increase in non-tax revenue is to be influenced by transfers from the CIP Infos Mr. Speaker an analysis of the tax revenue category is as follows tax on incomes and profits tax on incomes and profits are projected to be 325.2 million 7.9 million above the revised estimates of 2023-2024 we expect this category to continue to perform well as economic activity expands the projection for the main items under this category is as follows income tax from corporations the revenue from income tax from corporations is expected to generate 119.4 million for the financial year 2024-2025 representing a 4.8% increase above the year in outlook for 2023-2024 this performance is indicative of the continued recovery that is taking place in the private sector revenue from individual tax is estimated at 128.7 million this represents a 2% increase over 2023-2024 revised estimates the increase is attributed to higher employment levels income tax rise projected at 27 million the projected increase is also expected to be driven by increased economic activity taxes on international trade in action taxes on international trade customs duties are projected to increase by 3.4% to reach 283.8 million in 2024-2025 up from the revised estimates of 274.5 million in 2023-2024 of the total amount to be collected 157.6 million is expected to come from import duty 119.1 million from excise tax 1.7 million from throughput charges and 5.4 million from the passenger facility fee the improvement in outflows from this revenue category is driven by general increases in the cost of imported goods and increases in the volume of imported goods associated with growth in the economy for 2024-2025 taxes on domestic goods and services are expected to generate 711.3 million which is 9.2% above the out turned figure for 2025-2024 this category includes value added tax that on domestic activity collected by the in revenue and excise tax receipts from that collected by the in revenue account for 51% of revenue from this category and are projected at 260 million which represents a 3.9% increase relative to the 24 outrun that from international trade transactions collected by the customer excise department is projected to yield 210.3 million in 2024-2025 which is 7.1% above the outrun of 196.3 million in 2023-2024 this is expected as the country experiences growth in key sectors as construction, tourism, wholesale and retail health and security level Mr. Speaker the health and security level is projected to record an increase of 17.3 million dollars to reach 35.4 million dollars for the fiscal year which is 10% of health and security expenses Mr. Speaker you may recall that the health and security level for 2023-2024 collected we collected 18 million we expect to collect for this year 2024-2025 which is for the entire fiscal year we expect to collect 17.3 million only because last year the levy was implemented in July and this year it will be implemented for the entire year we do not forecast any increases in the health and security level nor do we intend to increase the goods that the goods and services that apply the health and security level health and security expenses for this fiscal year are projected as follows provision of health facilities 160.9 million capital projects central hospital reconstruction project 67.2 million Sufran hospital this year 2.1 million health system strengthening project 6.8 million OECS regional health project 3.6 million capital health coverage 2.6 million other projects on the health 16.8 million total provision 260 million national security provision of national security services 86.3 million capital projects 3.7 million total provision and Mr. Speaker we did not include the police stations nor the expenses involved in the construction of the northern police headquarters total provision for health and security 90 million total health and security expenses for this year 350 million dollars and from this amount we expect to collect 35 million from the health and security levy which means that we have to find at least 300 million dollars to fund health and security so the health and security levy only contributed only intends to contribute only 35 million out of the 350 million dollar out of 10% of the expenses so the health and security levy will only contribute 35 million dollars to the treasury of this country and out of it we need to spend 350 million dollars for total health and security expenses Mr. Speaker airport tax is expected to record an increase of 8.2% above the 2020 feet 2024 autumn to reach 39.9 million for the new fiscal year this category will be positively impacted by an anticipated increase in store over arrivals for the period 2024 2025 which is estimated to be over 6% increase in tourism arrivals service charge on imports is projected to increase by 8.2% or 75% above the autumn for 2023-2024 to reach 118.1 million for the new fiscal year the projection will be influenced by higher prices and increased volume of imported items stemming from the economic growth that we will experience in 2024-2025 Mr. Speaker revenue collection from taxes on domestic goods and services account for 48.2% of total revenue total recurrent revenue non tax revenue the 2024-2025 projection for non tax revenues amount to 146.8 million or a 19.2% increase over 2023-2024 autumn the following are the major components of non tax revenue the citizens investment program in the projected autumn for this year 2023-2024 the CIP contributed directly to revenue 45 million Mr. Speaker as compared to the approved estimates of 90 million Mr. Speaker the reason for the difference between the approved estimates and projected autumn for 2023-2024 is due to an increase in demand for the real estate option rather than donations that go directly into the national economic fund or government born options Mr. Speaker 64.1 million was received by the national economic fund from that amount 45 million was transferred directly into revenue the balance is available for use according to the objectives of the fund in addition 39.5 million was received from bonds compared in bond financing this year this year a further 17.4 million was used to fund security healthcare social development and infrastructure development in reality Mr. Speaker the CIP contributed to the economy of Senusha 121 million dollars in 2023-2024 Mr. Speaker was projected that the CIP will contribute directly to revenue 75 million audited financial statements will be made available to the house as stipulated by law during the policy statement I will provide a comprehensive explanation of the future of the citizenship by investment program income from commercial property tax revenue collections from this category 55.1 million for the new fiscal year Mr. Speaker there are some areas in which we anticipate a decline in non-tax revenue for 2024-2025 in transit fees this revenue line is expected to decline in the short term as these fees will be invested in a PPP arrangement to fund the development of the cruise ports in Kashi and Sufre an arrangement expected to start at the commencement of the 2024-2025 fiscal year the sale of goods and services revenue collections and the sale of goods and services are projected to record a sum of 55.4 million reflecting a decrease of 8.4 million or 14.2% below the order for 2023 this is due Mr. Speaker made it to the fact that hospital medical bills are not being paid by the people when they attend our hospitals so the fees that are coming for that that sector are not received because the fees hospital expenses are not normally paid are not paid by a large percentage of the people of San Misha grant receipts are estimated 108 million reflecting a 15.8 million increase over the order for 2023-2024 fiscal year the major contributions to the grant inflows are Republic of China on Taiwan 43.9 million the UK Caribbean Infrastructure Partnership Fund 27 million the Caribbean Development Bank 5.6 million the Government of Saudi Arabia 5 million the Foreign Conveyor Development Office 2 million the United Nations Environmental Program 7.6 million the European Development Fund 5 million the United Nations International Children's Education Fund 2.1 million the Pan American Development Organization 1 million Mr. Speaker of revenue and grants and expenditure for the 2024-2025 budget year will result in an overall deficit of approximately 250 million this deficit is due to the large infrastructure projects to be implemented this year as economic activity expands we expect a reduction in the fiscal deficits over the upcoming years the financing gap estimated for the upcoming fiscal year will be covered by a combination of foreign and domestic borrowings the government's debt strategy is to secure external borrowing on concessory terms with 243.8 million to be secured from developmental partners and the remainder 64.1 million sources from bonds and charges I agree that Mr. Speaker the government's debt strategy is to secure external borrowing on concessory terms with 243.8 million to be sourced from the development partners and the remainder 64.1 million sources from bonds charges bills and notes some of the external borrowing already identified and sourced include Caribbean Development Bank 42.6 million International Development Association at the ID 141.5 million the Republic of China on Taiwan the Exim Bank 2.1 million the Chaikom Development Fund 3.3 million the Kuwait Fund for Arab Economic Development 4 million the Government of Saudi Arabia 30.4 million Canadian Clean Energy and Forest Climate Facility Fund 2.9 million Mr. Speaker the total budget will be financed as follows revenue and grants 1.576 billion loans 244 million short term borrowing 200 short term borrowing 64 million total borrowing total 1.884 billion refunds 10 million total financing 1.894 billion Mr. Speaker let me remind horrible members that the policy framework which those 2024 2025 estimates have emerged will be articulated in presentation of the appropriation bill which we will place before the House of Assembly for the bit next month April Mr. Speaker the process leading to the presentation of these estimates have required months of consultation discussion and long working hours I therefore want to send the staff of the various ministries and agencies who have been involved in the process particularly the staff the prime minister the ministry of finance economic development of the youth economy a special thanks to the budget office who spearheaded the process on complied and compiled the estimates and expenditure for 2024 and delivered the book eight credits before delivery today Mr. Speaker special thanks to you and your staff and staff of the government information service showing all the necessary arrangements have been in place for the conduct of today's proceedings I want to express my appreciation for the work done by the staff of the national printing corporation and the prime minister in the ministry of the office of the prime minister who have the staff the national printing corporation Mr. Speaker you will be pleased to hear has been relocated to new premises after years of neglect and indecision by the last administration Mr. Speaker the immigration department has also been relocated into new premises spearheaded by the minister of home affairs so the immigration department a problem that has been inherited the immigration department it has not been relocated to new premises Mr. Speaker Mr. Speaker the staff of the national printing corporation that they are printing equipment that they are printing equipment will be upgraded in the year 2024-2025 Mr. Speaker as I conclude I wish to express my sincere gratitude to the people of this country the people of St. Lucia particularly the constituents of Kashmir's east for allowing me to serve as a member of parliament and prime minister of St. Lucia this government remains on the third and focused on the third and focus on the development and implementation of policies and programs that will best meet the aspirations of the majority of the people of St. Lucia Mr. Speaker we will not allow lies and misinformation to detours we shall remain focused Mr. Speaker the results of 2023-2024 estimates have shown the positive impact of the government's policies and programs over the years figures do not lie the estimates for 2024-2025 will in a similar way continue to be positively impactful on the lives of St. Lucia I therefore want to thank you Mr. Speaker for the opportunity to present these estimates for 2024-2025 to this Honourable House and look forward to the sitting on April 20 when the government's policy statement will be presented I thank you Mr. Speaker


Live from Boston, Massachusetts, it's theCUBE, covering OpenStack Summit 2017, brought to you by the OpenStack Foundation, Red Hat, and additional ecosystem support. Hi, I'm Stu Miniman, here with my co-host, John Troyer. Happy to welcome to the program, Carlos Carrera, who's a Senior Principal Product Manager with Veritas. Carlos, great to see you. Yeah, thank you very much. Glad to be here. So, so many of the things we talked to here in OpenStack and the cloud world is relatively short-lived. The average lifetime of the average cloud deployment is like 1.7 years. You've been at Veritas a little bit longer with that, had an opportunity to have a conversation with you about some of your history. So, we're going to have to take the abbreviated format of that, but give us a little bit about your time at Veritas, some of the ebbs and flows of your career. Yeah, good. Well, again, thank you for having me here. It's great. We've been 16 years with Veritas. As I've mentioned before to you, back in 1994, 1995, we created the first file system on volume manager. A lot of things happened since then. At that point in time, the solidifying story stir was not yet there, but many years ago, we got some piece of software running on top of any kind of hardware and we was able to help customers to move workloads from one place to another. In a very agnostic point of view, right? And then we move into clouds and now, three years ago, we started looking into what do we do with OpenStack clouds? Because this is going to define, it's going to need something very new, something different. So, today, this week, we're very happy because we finally announced hyperscale for OpenStack, which is a solidifying story solution that has been built for OpenStack clouds. Yeah, when I look at the industry these days, the term lately is storage services, how we're doing things in software more. OpenStack is the open source infrastructure piece. You guys are the hipster player in this space. You were doing software-defined storage and software services not attached to everything else beforehand, so, sounds like OpenStack's a natural fit. Tell us a little bit more about how Verifah's fits into that. I think that, again, it was a perfect fit, but we had to review what we was doing, because, again, I've been many years, I was working with traditional legacy architectures in the past. We had our cluster file system that today can work with 128 nodes. But we revisit, is this what we really need to the new OpenStack clouds that are going to scale? As you said, what I need is the storage services. So, what do we have to do to provide those storage services to the OpenStack cloud? So, three years ago, we have this, we call OpenFlame project that today is hyper scale, has been really building from scratch. New provost is what we call emerging provost at Veritas. And finally, we got separated from Symantec and we got all the visibility on the storage again. And is using all the know-how that we have in the history, as I say, we're a very big startup, right? But now, emerging with new provost, with new solutions that has been designed for OpenStack from scratch. Can you drill down on the product itself? Is this file block object storage? Is this sitting on top of servers laid off in a server-based way? How does it interact with OpenStack drivers? That sort of thing. Yeah, that's a good question. So, it is syndera storage, what we provide is block storage for OpenStack. Something key, it is based on commodity hardware of your choice. So, you decide what is the hardware that you want to use. Really, X86 servers that you can choose in the market, whatever you want. And one of the key differentiators is that we provide block storage, but we separate the compute plane and the data plane. And this is an architectural decision we had to take three years ago, to say, we cannot scale, we cannot provide the storage services that you need in a single layer of storage. Because that is what most of the so-called defining storage solutions on the market are doing today.  How do I protect my cloud environments with OpenStack? And we as a net backup company, we have our leading net backup solution, we hear that from our customers. But it is not about bringing another solution that is going to bring another noisy neighborhood. So we really have to separate two layers, compute plane where you have your first copy and the data plane where you use cheaper and deeper storage to keep the second, third copy and do all the data management operations. That's interesting what you just said there, like two copies. So you do have a copy that's close to the compute, but then you have another. Correct, because again, if you take a look to what you have in the market, typically it's one side fits all. So do you need three copies for everything? And today you have emerging technologies, you can have things like MySQL, or you need high performance, or you can have things like Cassandra, where you need nine copies at the end because the application itself is giving you the resiliency. So if you use a standard solution that for each open stack instance you have three copies, that means you have three copies, three copies, three copies and nine copies. And it's not only the number of copies, it's that when you make a right, you're writing nine times. And you're writing on the single layer. So we said, we have to separate that. The first thing is that, what is the workload? Stop thinking about the storage, stop thinking if this is a pool of SSDs and start thinking about the workload. And then we connected that very well with open stack because open stack you have the definition of flavors, right? That is how many CPUs do you need, how much memory, but also we extend those flavors to say, what do you need in terms of storage? What is the resiliency level that you need? What is the number of copies? What is the minimum performance that you need? What is the maximum performance? It's not only about solving the noisy neighbor with the maximum performance about limiting, it's about guaranteeing that you are going to have a minimum number of iOS per second. At the end what you can get, you can have a MySQL running with high performance needs with web servers on the same box without fighting each other. Carlos, can you speak a little bit about how customers consume this, how do they buy it, how's it priced, how do you get it to market? Because we've talked before with Veritas, storage used to always be either an appliance or an array or things like that and the software cloud world's a little bit differently, how does that fit? So today it's software only, so you make the decision about what hardware to use. We try to simplify the go-to-market model, so it's based on subscription. You just pay for the manage capacity that you have and you only pay for what you have at the compute plane. So I think a simple model that we could find to go in open source projects and being able to attach to that. Okay, can you speak to, when you talk about go-to-market from a partnership standpoint, it's a big market out there, Veritas, well-known name for many years, but what partners are involved in this, any certifications that are needed? So we're working with our typical partners that have some expertise with OpenStack and helping with them. We are now also working with hardware providers, we're working with Supermicro and creating reference architectures with them, because at the end, we have to explain to the customers what they can get from different hardware, so we're working with them. And we are also working with new partners, for example, yesterday with As on the stage, we have Furbanks. Furbanks is an open-stack ambassador in Netherlands. They have been working with As from the very beginning on this project, on the validation, and they understand OpenStack, they understand the issues, and they have been doing all the validation with As about, yes guys, this is the right thing you have to do from the very beginning. Is this product tuned specifically for OpenStack, or will it be available for other kind of private cloud? We have available for OpenStack, we're going to have it, we announced, I think we watched with you also guys, we announced the beta version for containers. At the end, the same thing is how do you provide persisting storage for containers. 90% of the product is all the same, is that compute playing, is the data playing, how can I protect my workloads from the data playing? Because again, it doesn't matter if it's container, if it's open-stack, when I have to protect it, how do I do it? How can I read my data without affecting the performance? And that's where we have the value with the data playing. And of course, our integration with NetBackup, our leader backup solution in the market, where yes, with a single click, I'm going to connect OpenStack with NetBackup, define how my workloads are going to be protected, when and how. Here at the show, OpenStack Summit, how has it been working with the community? Sometimes in the open-source world, vendors have to have a certain kind of conversation with that open-source community, then to show that they understand their needs and what they need out of the relationship. How has the week been then? So yeah, that's a very good question and let's go to something that we want to announce, hopefully at the end of the year. The first version that we announced this week is based on canonical Ubuntu OpenStack. At the end of the year, we are going to have a Red Hat and in our DNA is to be agnostic to the past any hardware and of course now is any kind of OpenStack distribution. So we will work with any of them and something that we want to announce at the end of the year is to have a community edition for HyperSQL. So again, that is our offering to the community so they can go use and provide feedback for us. And would that community edition itself be open-source or just available for the community? It would be available for the community. We keep our IP. As we get towards the end of the event, I'm sure you've had plenty of interesting customer conversations. Anyone, I'm sure you can't mention names but any interesting anecdote or just general feel of the community? My anecdote for yesterday when I had our presentation, we had a customer on the run. We have been working on a POC with them. We have been very, very helpful customer within us. Do you have any question? This guy's done up and went to the microphone and I was thinking, what is he's going to ask? He know everything about the product and he just said, hey guys, we are doing the right thing. This is great. I'm fantastic. You are bringing a lot of value here. So I was like, wow. And my understanding, it was a big brand name customer who actually said where he was from which is great validation. Something we've heard all week is there's that sharing here with the community. So financial companies who in the past wouldn't have done that. Telecoses who do that in the past. Great to see. Give you the final word, Carlos. Yeah, the thing again is, as you said, validation is a key thing. Being a lot of years in the company, I got this project eight months ago and all the things I've been doing is just validation, talking to customers, I don't know how many analysts I've been talking during this week and all of them said, yeah, guys, you are doing the right thing. This is the direction that we have to move. So happy that, you know, finally emerging again from where it has been back here in the community and up on the stack. Well, the speed of change, constant learning on new things and helping customers move forward. Big theme we've seen in the show. Carlos Carrera, appreciate you joining us here for John and Stu. Thanks for watching theCUBE here at OpenSack Summit.


the nonprofit show. We are so glad you're here, and I am excited to have with us today Crystal. We call it the hot seat, but as you can tell, it's really not that hot. We're very friendly, very comforting, you know, casual. But today we have Crystal Cherry with us today, and she's here. I'm thrilled because we met in Nashville at the RAISE conference that one cause was holding. We were connected. I wasn't able to get you on while we were there live at the conference. So I'm really glad to have a dedicated episode with you here. As you bring to us a conversation that we don't talk about nearly enough, and you're sharing with us strategies that fire up our boards. So we're excited to talk to you about that. Before we jump into conversation though with you, Crystal, we want to remind all of our viewers and our listeners around the globe who we are. So Julia Patrick, hello to you. Julia is the CEO of the American Nonprofit Academy, and I'm Jarrett Ransom, co-host, CEO of the Raven Group, also known as nonprofit nerd as I push my glasses up quite a bit and get super nerdy with our guests. I know, and all of us are nerds. Look at us today. We're all amazing nerds. But we also have to say thank you to our truly amazing partners that allow us to bring in guests like Crystal. So thank you to Blumerang American Nonprofit Academy, fundraising academy at National University, nonprofit thought leader, your part-time controller. Also thank you to Staffing Boutique, non-profit nerd, as well as nonprofit tech talk. These companies, how many episodes now did you say we're marching towards Julia? One thousand sister. Yeah, that's incredible. One zero zero zero. That's quite a bit. You know, we started at March of 2020. Julia, I just, it's a very endearing story. She said, let's do this. It's going to be a two-week endeavor. And I was like, okay, why not? I can do anything for two weeks. We don't really have much to do at that time. But here we are into our fourth year. So you missed any of those previous episodes. We've got you covered, our friends. You can find them on these platforms here. So you can scan that QR code with your smartphone and go ahead and download that app. You can also still find us on your streaming broadcast, as well as your podcast channels. So wherever you binge watch and binge listen, just go ahead and add us to the queue. Wrap it up, wrap it up. Yeah, good stuff. So Crystal, you've waited patiently, not only today, but since we met again, right in, in Nashville. So Crystal M. Cherry has joined us today. President of the Board Pro, welcome to you. Thank you so much for having me. We are excited to have you. Tell us a little bit about yourself and a little bit about the Board Pro. Yeah, thank you. I am excited to be here to represent my company, the Board Pro. I started it right before the pandemic after having worked in the nonprofit sector for 24 years working as a nonprofit fundraiser. And at that point, I just needed a change. I was burnt out and wanted to do something different and wanted to figure out how I can transfer my skill set into doing something powerful and impactful in the nonprofit sector. I wanted to stay and how I can use all that I had learned and experienced to still make impact. And so I just kept thinking about those board meetings that I sat in for years with many different organizations. And I just remember some of the looks on the faces of those board members, you know, akathy, boredom. And I just thought, oh my goodness, this is a space where I could land and transfer everything that I've learned from being inside and helping the boards and the CEOs of those nonprofits to prosper. So I hung up my shingle and I've not looked back. I love that because I think the power of being on the other side of the desk and working with a board and being able to witness that, good for you because that's the thing. We need more people that know what the impact of board decisions really can be and what it is. And so let's dig into this because I'm fascinated, by the way, and I'll say it at the end of the episode, your website is fabulous. So anybody who's watching this, go to theboardpro.com and take a look at it. But one of the things you advise us and you start right off with saying, start with the right board recruitment strategies. What does that look like? Yeah, I think I'm hoping now nonprofits are taking this more seriously.  You got some free time, come next week, we'll get you voted in. But I think and I'm hopeful now that board members and CEOs are seeing that they have to be more strategic about who they bring in to sit on those seats and not only sit but serve, right? And so first we need to say that serving on the board is a privilege, right? And so I take it very seriously as a board consultant. And so whenever I'm tired to search for new board members, which I am, I take it just as seriously as looking for someone who's looking for a job. And so we create the job of the board description, the announcement, we create a board application. I do my search, just like you would do any other kind of search, you know, I put on social media, I go into certain groups and see if I can find places where I can announce the board opening. And then I actually interview and vet people who apply just like you would for a regular job, right? And I ask the interview questions, why do you want to serve on this board? Why is this passion resonating with you? What do you think you have to offer? Do you believe you have the commitment and the time to actually be a part of this board? And then I check references. I mean, it's just like looking for a job. And so I take this very seriously. And I think that nonprofits who do this, who really vet and screen the individuals to make sure not only if they have the right skill set, right? Because we all have different skill sets that we need to bring. But do they understand board etiquette? Do they understand board culture? Or do they understand what it really takes for them to be a thought partner to help the organization to thrive? And so and if they don't, it doesn't necessarily mean that they can't serve. It just means that we have to do a little extra work on the other side and training them those things. And I think that's where some of our organizations get lost. So I really believe that we have to do the work upfront to make sure that our board members come in, prepare, they understand the roles and responsibilities, they understand the mission, they understand the culture and what is expected of them right out the gate. And so, yeah. Wow. I love that, Crystal. And I wish there were more of you because, you know, when we look at the nonprofit landscape, we talk about this all the time, Julia, 1.8 million nonprofits registered in the U.S. And they all need board members. And I love that you said not just to sit, but to serve, right? Like they're truly here to serve, not to check a box, not to just, you know, meet attendance, like truly to serve. My question to you though is, you know, we had a guest previously, probably a couple of years now, and I thought it was really funny that they said, if you know one board, you know one board, right? Like they're all just a little different. So how do you find that match with a professional who wants to serve on an organization's board? But I know that boards are different at kind of all different levels, you know, whether it's a more mature organization and their governance is really robust, or they're more of a startup organization, and they've just passed that threshold of bringing people on the board simply because they have a pulse, right? Like they're moving needle. So how do you navigate that? Because there's some boards that are ready for some really big hitters, you know, of people of service. And then there's other board members, truthfully, Crystal, that are still trying to figure out how to run a board meeting. Yes. So I do my due diligence up front. I, you know, I make sure I do all the exploration and the discovery and the research on the organization first. I read their bylaws. I read, I scone their website. If they have a fundraising plan, I read that. I read their strategic plan. I make sure that I look at the board members to see who they are, where they work. I have them fill out a board matrix. And so we can figure out who has what skill set. And then I actually interview board current board members. I usually try to interview someone who's been on the board for many years, and then someone who might be new to get two different perspectives. And then sometimes I will even do a visioning session with them where we'll, we'll meet with, you know, two or three board members, one or two high level staff people, the CEO, and we'll meet for an hour or 15 minutes to really just kind of talk about what the organization is, where it's going, where you see itself going in the next five, 10 years, what are some things that you know you need to strengthen? What are your strengths? Like, so I really have a really good feel for who it is that I'm actually searching for. So that when I'm actually betting these individuals, I can kind of know based on what I've learned about that organization, whether or not this would be a good fit. And I'm pretty transparent. I will share with them, you know, the organization has gone through some transition in terms of leadership. I honest with them about what's going on with the organization. So they know coming in what they're getting themselves into. But I try to do all of my homework up front so that when I'm out looking, I know who I'm looking for. And they will tell me we need more women. We need more people of color. We need someone who works at Delta. We need someone who works at Chick-fil-A. I mean, they sometimes they get very specific. And so all boards are different. Some of them are grassroots.  And others want people to come in, approve budgets and go, right? And so I had to know before I search what this client is looking for. I love it. I think that's magical. And I would imagine that you ask questions at a lot of organizations have never even asked themselves at times. And that kind of leads us into our next question is how do you build a board culture and that core culture really including collegiality and reward? Because I don't think we talk about board culture enough. And we can sense it and we can be like, Oh, I love that board or Oh, I don't like that board. You know, my board experience. But talking about this specifically, what does that look like to you? Yeah, I think organizations underestimate the importance of this. And I think they really need to set the right tone when the board members come on after you onboard them and get them in and welcome them in. The culture is going to make or break that experience. Right. And so if it's a culture where I feel welcomed, it's warm. I feel open to express my ideas if I don't feel comfortable with a decision that's being made, I feel comfortable raising my hand to say I dissent. Like you have to provide that space for them. And you do that in multiple ways. First of all, you need board members need to spend time with one another, right? So just a little social time, maybe before the board meeting or after the board meeting to give people the opportunity to just kind of talk how we should weekend, how was your vacation? Oh my God, your wedding pictures are beautiful, whatever, just give them a chance to kind of get to know each other. And then once the board meeting gets started, we want to create mission moments where we are sharing something wonderful about the organization to get everyone excited and hyped about why they're serving on the board, feeling really good about it. The culture statement is really important. So the culture statement is a statement that could be one of three sentences. It could be a whole paragraph. It's something that I think should be read at every meeting, right? And the culture statement just says who we are, what we're willing to tolerate as a board or an organization or both. I'm speaking specifically as a board, but it would be great if it was in tandem with the organization, but I think each board should have its own culture statement. Okay, I'm sorry to interrupt, but I've never heard that, and I love that. Okay, thank you. Yeah, yeah, yeah. And it just, you know, I have samples, but it's just, you know, that we're going to have respectful debate, that we're going to take this work with all seriousness, but we're going to embed some fun in there. And just that this is Nirvana where we're all welcome. We're all allowed to say what's on our minds. We respect when people feel differently about opinions. And so put that in there at the very beginning, let your board never see, this is the culture we have here. This is what's committed and what's not permitted, right? And so there's no questions. Crystal, I love that so much. And I helped an organization create their board culture statement, especially because of this remote environment. And so they really wanted to proactively engage participation. And it's so easy to turn on our cameras. And they made that part of their culture statement truly, right? Was we will show up, you know, X amount in person, X amount on video. And when we're on video, our cameras will be on. And that was a part of the culture statement. Yes. And there are other things they can get to know one another. So for example, like I have all kinds of exercises. I created a calendar. So now that we're talking about being more inclusive, we're going to have people on our board who celebrate different holidays and want to be cognizant of that. So we're not planning anything around those holidays, not just Christmas in Hanukkah, which is the ones which we traditionally acknowledge, right? But all the holidays now so that we're all aware so and so might be out because this is a holiday for him or her family, right? I create something called Board Bingo, when that's fun even virtually, when we get to know each other, it's just like, you know, I have a kid in college or I speak two languages or, you know, I've been to Paris and people get to know each other when you start putting in. It's just a great way, a fun way for us to get to know each other. And then a day of giving together, right? And so even though we're all serving on this particular board for this particular organization, we can have a day where we volunteer together for this organization or for another organization. And so for example, I was on a board where we all did a walk for another organization and we had t-shirts made with our logo on it that said Board Member on the back. And then we all did a walk and it was just great. It was a beautiful day. We got a chance to talk and we were doing something wonderful together as a group, celebrating another organization. And so there are just things you can do to build that camaraderie and so that people get to know one another. You know, this really speaks to, as you bring together a community of board members outside of the board meeting, I can only imagine the increased involvement and impact of their service during a board meeting, right? Like, Julia, do you remember one of our guests mentioned that it took a new board member about 18 months before they are comfortable asking a question at a board meeting? But by creating some of these strategies that Crystal's provided to fire up our board members, we're creating, we're short, you were, I don't know, like shortening that gap, right? So they get comfortable with one another, comfortable to ask that question. These are such great strategies. Take us to the very beginning, right, of the onboarding process, because that's something that, you know, as we do the recruitment, as we talk about the culture. Now, what is the power of a wonderful onboarding process? What are the strategies that you share with us? Yeah, absolutely. And so we want the world to know that we're bringing on these wonderful new people to serve on our boards. I always say, go public with it, put it on your website, put their pictures and photo on social media. We're happy to announce we're onboarding these new individuals. We bring them in, we give them an opportunity to speak and tell a little bit about themselves, right? We share the mission moment, we bring in the staff, the key staff that they may want to know, the CEO may set the tone for what, the occasion, giving a little history, and then we jump right into the roles and responsibilities of being on this board. They've already seen the board description, but we repeat those again so they can see that. We hand out the board contract, right, which is just a contract. People call it a pledge, they call it a letter of agreement, but it's just a contract saying, I acknowledge and I am acknowledging in writing that I've been given the job roles and responsibilities. I understand that I am responsible too. In addition to that, I will make a personal donation of, I will agree to serve on this committee or at least one committee. I will agree to participate in one fundraising activity. And then at the bottom of that contract, it says what the organization is obligated to do in return, right? We're obligated to in return because it's just a two-way relationship. It's not just what we can get from you, but what the organization is responsible to make sure that you're trained and equipped with what you need in order for you to be a good board member, right? And so this is a contract that you're given at the very beginning. So you want to make sure that committees, committee descriptions of yesterday know what ways they are to get involved. And when I used to be on the inside, I say on the inside, I would provide my board members with a menu of ways to be involved with the organization outside of board meetings, right? Because if you're only meeting once a quarter, what happens between January and June, right? What happens between January? What am I supposed to be doing as a board member? Well, I got a whole list here, things for you to do. And so I will provide opportunities for my board members to remain engaged if they're not on a committee in between board meetings. So I love that because, you know, I think sadly, a lot of board members don't truly know what the organizations do.  I think we also try and shelter our board members a lot of times from the nitty gritty and how hard things are. I'm afraid of making them frightened or losing them. You know, I think there's a little bit of tension sometimes with how far do you disclose the quote, unquote, bad news or toughness of it. And there should be some balance, too, between the relationship between board and staff. But I do think that they should have some interaction. And if you have the environment where you're celebrating wins, an opportunity for staff members to come to board meetings when they've done something wonderful, whether they closed a big gift or they've, you know, started a new program with a board to hear what's going on, they can see the staff, they can hear the great things that are going on. So I think keeping them engaged in that way is really important. Huge. I'm curious to hear more about that, Crystal. I happen to see a post, I'm not sure if it was LinkedIn or another social media channel, you know, specifically inquiring from others, do you allow your staff to attend board meetings and literally to attend, right, to sit, to listen, to be present, obviously not a voting component for the staff.  I've seen like complete open door policy, community members are welcome, you know, staff are welcome. And then I've seen the opposite where it's like, no, no, no one else comes in unless it's a board member or that CEO. What are you seeing is kind of like the going trend right now. Great question. Yeah. So all of the best practices that we've known all these years, we can throw all those out the window because boards are doing more. Let's do that. Yeah. Yeah. I mean, I think people are now starting to question the hierarchy of boards, you know, whether or not we have just one board chair, whether we can have two, whether we have married people serving together on a board, whether the staff can actually serve on the board, whether the CEO can actually serve on the board. It's a way that we can maybe balance the power a little bit more so that what members sometimes come in, they make the big decisions, but the staff come in and they also weigh in on policies. And so there are lots of things that are going on right now that are questioning how we've traditionally done things. And so when I worked in the nonprofit sector, the key staff, the vice presidents and executive staff were invited to board meetings because we had to report out what was going on in our different departments. And we brought in staff periodically when they did something wonderful, when there was some big win or some new program that we wanted to talk, we would bring staff in. And so I think that's a wonderful way to keep the board apprised of what's happening. And so that the staff, I remember sometimes staff members would be peeking in the room like, what are they doing? What are they doing in there? What are they saying? And so I think it would be smart to have staff members to come in to see and hear, you know, unless some big something is being discussed to let them come in and hear what's being said and what's being decided. So some people will push back on that, but I think it's good now. I appreciate that perspective. I really do. I think there's a lot to talk about there. We probably weren't a whole separate episode on that conversation. But as we don't have too much time left and we wrap up our time with you today, Crystal, because I do hope that you'll join us again. Talk to us about one of your strategies to fire up our board. You're talking about fired up fundraising. Right. Give us the load out of this. What does that look like? Yeah. So the first thing I tell board members, the first thing you have to do is make your personal donation, right? Because you have to have some skin in the game. You can't fundraise and ask people to, to support an organization that you yourself are not supporting. So no matter how big or small we can have conversations about gift size and give or get, give or get. I mean, that's a whole nother training, but make some kind of donation, $15, $20, if that's all you have, make something so we could have 100% giving. And then we know board members are often allergic to fundraising and we have to talk about those things. Why are you fearful? You know, we know the rejection trespassing on friends, not being equipped to know how to ask. And so that's where we step in. So I have something that I call the board fundraising pop box, points of pride. And in that pop box is your case statement, is your mission statement, is your annual report, compelling stories, right? Compelling videos, the budget, the fundraising goal, right? How to make an ask, right? So everything is in this toolkit that you give to your board members. And so they come in equipped with all the, all the information that they need. And then, you know, practice role playing, telling stories to one another, the stories that you've heard, or you know, first hand about the organization. And then should you have to make an ask? You know, my college friend and I are getting together, we haven't seen each other in five years. I want to tell her about my great work, the great work of this organization and my involvement. Ask the CEO, what should I say? I'm a little nervous. I don't know how to approach the idea with her. And maybe we can do some role playing back and forth with the conversation, not necessarily making an ask just talking to her about the organization, right? Because if there's greater interest and you can connect her to someone on staff, but how do I talk about this organization is to think I can take a brochure as their annual report. Can I show her a video, right? So making sure that your board members have the tools that they need in order for them to successfully find a raise. Because in all this fear around it, I think because they just don't know. And so if we give them the tools and we equip them, I think it'll go a lot better for all of us. Yeah. Yeah. I love that. I agree with you. I think that it's a fear and under education of the process because you have people for the most part that are passionate about that mission and they see the work and they see the impact and yet and they know that there has to be investment from the community into this process. Right. It's just how do you get from this point to this point? And then once you get that board member, Katie, bar the door, because then they're just like cranking. So I usually do an exercise with my board members and I start asking them about their kids, right? And they'll start to, oh my God. Oh, and Becky, she loves ballet.  You feel you feel strongly about mission. You love the work that they're doing. You're advocating for Becky, you're advocating for our mission. We advocate for ourselves and our lives every day. So that's what I tell them. Let's take the fear out of what fundraising is. You're not begging, you're not hitting anybody up for money. You're telling a great story about a wonderful organization whose mission may resonate with what you love already. So you're just aligning the two so they can see there's an opportunity for me to use my resources for you to continue to do great work. And so if we see it, if we turn it and twist it so it doesn't seem like I'm telling you a car, right? A car that you don't need, you know, like it's a legit thing. Crystal, we have a question and I'd love to ask it to you, but I also want to be mindful of our time. So the question that's come in is what about board members who may not financially contribute but they through their own fundraising efforts bring funds and donations to the organization? How would you talk to this individual? Yeah, so that's we call that soft credit when you bring in funds. Like if you get a match, you'll get a company to give, we certainly want to give you credit for that donation. However, we still want you as a as a board member to make your own personal donation. Like I said, it doesn't have to be significant. If you can't make a thousand, give us 250 but give us something. But yes, we definitely count in kind. We count when you get a match for your gift. We count when you bring money to us from colleagues and friends. Absolutely. That's all fundraising. Yeah, absolutely. Yeah, great, great answer. And I also say too, you know, part of fundraising is the stewardship. It's the gratitude is having board members say thank you to donors, you know, and I think even at, you know, easing them in that way to experience the power of the impact. I love your strategies. I think they're they're so doable. I love this pop box, like that to me is something. Yeah, that's fantastic that you've named it that and it's, you know, it's got all the key elements that you need. So thank you, Crystal. It's been fantastic having you. I wish our time was longer, but it's so very fast. Everyone who is thank you that has joined us live or has found this by way of one of the recordings. You have just heard the strategies to fire up your board members from Crystal Cherry. So Crystal is the president, the board pro, you live in Atlanta. Do you work beyond Atlanta into other communities all over the country and in Canada? Well, you know, when I hear Delta in Chick-fil-A that just screams Atlanta. Yeah, throw in Coke. Yeah, yeah. And you stop by Home Depot on the way. Board pro.com, beautiful website. Thank you. You know, Crystal gives a lot of information free and really has amped up the level of education and connectivity about why it's important to think about some of these strategies, instead of just complaining about your board, understanding how you can navigate and really get them fired up from the get go. And I think that's the powerful thing, not just saying, oh man, we got a bunch of, you know, underperformers, start right and figure out how you're going to navigate that. So check out the board pro.com. Again, I'm Julia Patrick, CEO of the American Nonprofit Academy, been joined by the nonprofit nerd herself, Jared Aram, CEO of the... As I push up these glasses.  Hey, again, we have amazing, amazing partners that join us day in and day out. They include Blumerang American Nonprofit Academy, your part-time controller, nonprofit thought leader, fundraising academy at National University, staffing boutique, nonprofit nerd and nonprofit tech talk. Again, these are the folks that have been on mission with us to really help, encourage, educate and really gather the nonprofit sector as we do every day, Monday through Friday. So again, Crystal, you have really been speaking my love language. I've learned some things from you. It has been fabulous. Thank you. Thank you for allowing me to spread some board love. Board love. I love it. We all need that. We truly, truly do. We do. Oh goodness. Every day we end our episode of the nonprofit show with this mantra. I think Jared said this yesterday. We say the same words, but they mean different things at different points. It's a fascinating thing to be thinking about this, but our message is clear and it's this, to stay well so you can do well. We'll see you back here tomorrow.


All right. Good morning cyber traders. Happy Monday everybody good to see you all I'm glad to be back I was at a conference last week to met some of the nice gurus Hopefully some of you saw some of the pictures I posted on on my social media a couple of I've met Adam Mesh I was with Kathy Lynn.  This morning if you showed up at 8 o'clock Which is usually pretty much the time frame that everyone kind of shows up What a nice little move on so far and this is not the only one there was another one It's even nicer look at 8 o'clock move from $8.36 all the way to 890 And I know a lot of you that are joining us today probably wondering Okay, how did it go up there and how did it get there? We're gonna talk about that Because there's a lot more to cover now today is gonna be a really really big week. Um, I just want to show up I this hopefully everybody else also getting these images that we're posting on our social media But you know and by the way, make sure you like us Ring the bell and give us a thumbs up on all those images that you gave so go go out there and share it Very very important even leave a comment You know, that'll be great, but you could see here It is a very very big week the fabulous seven stocks out there, which is gonna be the five is gonna be coming out I'm looking forward to see what happens AMD. You got app Thursday is the big day.  I mean Thursday, which is a big one We got Microsoft also is conscious. We got a bunch of people coming out But a couple of good but listen, we just don't wait for those those are just gonna basically give us an idea with the market's going to be doing going on for today as I mean this week or for the next three months, but very very big week by the biggest week of the Quarter of earnings announcements. So but anyway, there was a really really nice move on a couple of the stocks First of all, so far I did have earnings You could see it right here came up this morning before the open and you could see that's where that's seven o'clock Move was right there and you know what once that earnings came out Listen, we're not analysts. We're not trying to figure out as a good earnings. It's a bad earnings Whatever it is. We just follow the money and you can see so flies out there But before we do that, let's talk about what happened last week for some people that were not here We'll just go over some of the good stocks that ran. So anyway CR BP. What a really nice mover stock was Absolutely fabulous stock started at 930. It was a great pre-market We're start from 10 went up to 16 the beautiful stock ran from 617 dollars up to 30 ran only to 40 dollars by 12 o'clock Congratulations if you guys trade it this with day trading is all about CBRP phenomenal run-up Rum also nice rumbles been doing rumbles been having some really good news I've been coming out on it stock was only back down down to three the stock was around 11 Great pop-up the last couple of days. Not only it's been a good day trade It has actually been a really really really good swing trade also But you could see beautiful run $5 all the way to six and you could see how it was down here to three ran Oh, it is seven another couple of stocks. I'm gonna hit a MS SC was a nice little runner 1250 is $14 not as nice as CBR CR BP We also had another one Mara had a good move Mara took a very very big hit stock Got crushed, you know, obviously remember we talked about it We talked about Bitcoin buy-on rumors sell on news news came out Coin also got hit and you could see what happened with these stocks. So they finally came back down Intel was a really nice short. They did come out with earnings. They didn't do too well another good stock I want to bring up was the MDA I that one also I'll put that back on the watch list by the way, so MDA I same thing with Same thing with that other one that we just found earlier, is it this one I look at no look at this one right here There's one other one to keep an eye on That's also moving up pretty well, but but I want to also talk about some of the good losers Okay, now remember losers is our biggest problem losers is what really destroy your whole You know interest of being successful in trading But I want to get to boil because boils on the big losers list Let me tell you good thing we got out of boil because boils breaking all-time lows. It's testing this big support level right here I think it broke it on this day. Yeah 23 36. They are not looking too good with boil But let me tell you we made money a boil. We watched it on a day trade We saw in a swing trade around 27 28 and some got about 30 ran to 40 But doesn't look as big as a move but look at once I started breaking down I'm so happy that we got out of that stock and you could see it doing pretty well One stock I'm a little ticked off about is SMCI. This stock was just so volatile.   I don't know what day it is Look at the day. I'll find out. I'll share it with you, but they said they're gonna be dirties That's why the stock doesn't go up. They want to be ahead of the curve before it came out. Obviously and SMCI super micro computers has a lot to do with AMD and the video We all know how those things worked out and by the way want to keep an eye on them the video I had to swing trade on the video and You know, it was getting a little nervous backed off But the video is looking pretty good right there and like I said, not only we trade cheap stocks We do trade, you know some brand name stocks I know some of you get a little nervous like well, I'm not a fan if I don't trade stocks in the 30. Okay, no problem You want it will expensive stocks? Here's some of them you can go out there and do it also and the video Obviously doing pretty well. It's kind of holding it pretty strong now Let's go hop on what's going on this morning because there aren't a lot of better stocks that had good volatility at good earnings We know about so far so Back on the on that list listen the markets not even open. Don't worry about it. We still got time All right, another thing that it's moving, but she's starting to back off actually let me change the screens Hold on one second always get to do this and Let's bring up our book viewer right here So you can see where the orders are move this back down There we go So you can share both screens at one time There we go, so we got so far. Let's go check out and see what the orders are So so far you got a couple of 40,000 share sellers right now Right around the $9 price range. Everybody see that right there big big orders 40,000 at 896 another 43,000 at $9 makes perfect sense why I kind of tested these highs right around here I got close to it right around 830 starting to back off. I'm not seeing your buyers up until 18,000 so So far, you know, we're gonna keep an eye on that one. We got that on our watch list a couple of the ones here That one to put on watch. Oh, I've got to also bring up Eli Lilly as a swing trade to Eli Lilly is getting close to that All-time high so Eli Lilly put on our watch list too. So we got that one. We got the palm palm also PA PLI She had a great runner. She was beautiful this morning eight o'clock this morning 60 cents thing ran to a dollar 20 up About a hundred percent. It's already up 113 percent. She's got good orders out there You got some 25,000 share buyer at 107.  I know looks pretty good right here But remember tradable non-tradable very very important You don't want to get involved some of these stocks when you have those big tradable NDAI This is the one I was talking about earlier that one's going back on the watch list from from Friday It's gonna go back on for today. That one's still looking pretty good This one about 300,000 shares spreads to small tier size small not interested looking at that HUB I great volume on this stock up 24 percent, but she's not really going anywhere. I had this up earlier HUB see and I didn't I wasn't too Excited about it. It's got a pretty big order at $2 It's not over here on level on Mazda book viewer, but it is over here on level 4 You could see he must be on a different exchange got 56,000. I'm seeing right there. So he got something right there on that one he's right here and I'll tell you so far there it is right there CVDT not really interested in that one, but it was a RBSN All right, we're done there. Here's a stock that's getting destroyed this morning. It's a pharmaceutical stock So remember we know about pharmaceuticals. They do not come back This stock. Yes was a $200 stock and yes, this could happen You go down to $1.50. Okay, it was a steal We could have took a big loss at 50 This is what we have to learn and like I told you this week is phase 3 So all my students if you want to we sent out an email and if you if you're not a student You want to know how to get into the classes? These are things we're going to focus on about controlling losses Because these things are put right out of business. You got to be careful What else we got over here nothing on the losers on a New York Stock Exchange? 9% were done right there. So it looks like everything has happened to be on the Nasdaq as usual That's why I was a big fan on the Nasdaq market. All right, so not a lot We got a lot of earnings that are coming out After the close we got rural pool we got crane You know, that's about pretty much about about it Nothing great. Most of the stuff's gonna come out.  You got JetBlue. You got UPS a lot of big brand names coming out tomorrow Remember Tuesday Wednesdays and Thursdays a big day now also another big news to just to remind everybody So the Fed is actually coming out today. It's gonna be talking So they're gonna meet tomorrow and we'll find out they can do something on Wednesday So that also is gonna cause some great volatility in the market So there's no better week to be here than this week. So we'll see how things work out All right, let's get ready for the market open up everybody now once again if you're watching on social media You have out you got that QR code on top left hand corner You can take your phone scan it if you want to join our room Just make sure you subscribe to our channels bring that bell like us and you know and once again You know just just make sure you subscribe to all those channels and you begin all alerts in the meantime Let's get ready for the market open up everyone cyber traders You see something say something and for all the new traders that are here that in the cyber group room Remember, you're not here to trade you hear watch just judge it just watch everyone to see how they think of themselves That's what it's all about. Alright guys. Good luck everyone. We'll be back in 15 minutes before the market opens up and get ready for the market Open up. I'll see you then