NDFD Host Annual General Meeting
Dominica’s Acting Prime Minister, Honourable Ambrose George says Organizations including the National Development Foundation of Dominica must remain resilient in a prevailing environment of increased trade liberalization.
Mr. George made the statement at the 31st Annual General Meeting of the National Development Foundation of Dominica which took place on Wednesday July 17th 2013.
This is a highly commendable achievement in challenging economic and financial times.
Executive Director of the NDFD, Mr. Cletus Joseph stated, the Foundation will continue to be creative and ambitious in their goals to meet the nation’s needs.
“The relevance of these Institutions is shown all over the world.” “We still struggle with financial crisis, and small businesses are increasingly called upon to persist in carrying the burden of job creation and supporting nations”, he said.
Mr. Joseph says this indicates the tremendous amount of work accomplished by the Recoveries Department along with the total team approach in collecting the funds due to the Foundation.
There was an increase in expenses, mainly due to anniversary activities executed during the year; however, the financial position of the NDFD, he said, continues to improve with growth in their asset base, improvement in liquidity and a decrease in their negative general fund.
According to the Director, their cash flow statement reflects a net cash outflow of $524,000.00, and so there remains the need for prudent, yet innovative decisions in the operational activities, and the accounts department who consistently produce high quality work.”