New designs for the Bailiwick’s bank notes, drawn up following a public submissions process, have been finalised, but a decision has been taken to hold off signing them off until a permanent postholder is in place.
Chief executive Boley Smillie said it was not a statutory requirement for a States treasurer to sign new notes, but had ‘become traditional for them to do so over the years’. At the same time, the States has decided against paying for another print run of the current notes, which are gradually returned to the Treasury by banks as they become worn or damaged.
‘We did not believe it was a prudent use of taxpayer money to pay for another print run on the current notes,’ said Mr Smillie.
He said the result could be a reduction in the number of Bailiwick notes available in the coming months, though there was ‘ample access to Sterling notes’ and no denomination would actually run short.
Recruitment for the new chief financial officer role – which includes the responsibilities previously held by the States treasurer – has now formally begun, with the post advertised both on and off island.
‘This is a crucial senior appointment and I am committed to find the very best candidate,’ said Mr Smillie.
Bethan Haines, treasurer since 2008, announced in May that she was stepping down. In the meantime, her responsibilities are being shared among senior treasury and finance staff, which Mr Smillie said was ‘working well’ but was ‘not a long-term solution given the need for appropriate resilience and accountability for such an important senior role’.