The 33rd ordinary session of the Board of Directors of the Special Council Support Fund for Mutual Assistance (FEICOM) held this Thursday 20 December 2018, in the Head Office of the said establishment in Yaoundé, under the chairmanship of Mister René Emmanuel SADI, Minister in Charge of Special Duty at the Presidency of the Republic.
The General Manager performed secretarial duties relating to items on the agenda, pertaining mainly to budget documents for 2019 financial year.
Following presentation of the Annual Performance Report as at 31 October 2018, the 2019–2021 Medium-Term Budgetary and Expenditure Frameworks and the 2019 draft Performance Paper and Budget, submitted for examination, and after fruitful discussion, the Board adopted these programming documents, as well as FEICOM’s 2019 Performance Paper and Budget.
The budget, which is balanced in revenue and expenditure, stands at CFAF one hundred fifty-five billion three hundred and ninety-six million eight hundred and twenty-eight thousand (155,396,828,000), of which CFAF 36,177,418,000 for council investments, CFAF 81,626,740,000 for Council Taxes Subject to Equalization, the rest being intended inter alia for the financing of cooperation projects and programmes and the Common Decentralization Fund.
At the eve of the 33rd session, the Board held its 22nd extraordinary session on 19th December 2018. During this session, it adopted FEICOM’s Strategy Paper which will serve as reference framework for the organization’s action over the next six (6) years, for effective fulfillment of its missions.
The Board noted with satisfaction the result achieved in the area of financial resource mobilization which, as at 19 December 2018, stands at 108.63% and the consumption rate of the municipal investment budget which has been on an upward trend since 2016. The same is true of the increase in the resources allocated to municipal investments which, during this financial year, amounted to CFAF 32,375,578,396 intended for the implementation of 288 projects in 174 Councils.
Lastly, the Board congratulated the General Manager on the quality of the documents presented, the smooth running of the company, the commissioning of the new head office building of FEICOM, and his reelection at the helm of the Network of African Local Authorities Funding Institutions (RIAFCO).
Done in Yaoundé, on 20 December 2018
(ed) René Emmanuel SADI
Board Chair person