REDACTED -IC Petrojam Investigation - Donations October 2019 final

Page 37 of 215 Petrojam Limited Integrity Commission October 2019 As it relates to the company exceeding the budgeted amount for donations, Mr. Delroy Brown, Chief Financial Officer, Petrojam Limited, stated, inter alia , the following: “ CHAIRMAN: Up to the time that you would have demitted office – are you position to indicate based on the donations that were being required to be made whether or not the budget would have been depleted from as early as April? A: Yes, they knew that the budget would have been exceeded then. CHAIRMAN: By April of 2019? A: Because the Board - first of all, before anybody request the monies - how we do budgeting in Petrojam and most government entities, by November there is a budget call that you must submit your budget to the Ministry of Finance, they might ask you do a little tweaking, but by December the latest - you probably have the same situation here, you must submit it. Having submitted your budget they will then comment none on it by January and you finalize the budget then the Ministry of Finance will also send a document – whoever is the Chairman for the company would send a document to the Chairman outlining the requirements for the budget and how to meet it. So before you have a financial year starting you must have known what the budget amount is. And if you are going to exceed that budget the custodian of