Second Amendment and Extension of Cooperation Agreement between the Treasury Department and Caixabank for Public School Accounts in Canary Islands
Canary Islands' Financial Cooperation Deal with Caixabank Extended and Modified
Overview
The Canary Islands government has officially extended and modified a financial cooperation deal with Caixabank to manage accounts for public non-university schools. Originally signed in August 2023, the agreement now runs until August 2026, with a significant boost in the bank fees budget to 745,000 euros for general banking services.
This extension comes after a unanimous decision by the monitoring committee, reflecting ongoing needs for efficient management of public school funds.
Details of the Deal
- The deal includes detailed payment schedules for the bank fees.
- Payments are spread across three installments:
- Late 2025
- Spring 2026
- Late 2026
These adjustments aim to ensure smooth and transparent financial operations for the educational centers, which are vital for ensuring resources reach public schools efficiently.
Significance for Residents and Educators
- This extension signifies continued support for stable financial management of school funds for residents and educators in the Canary Islands.
- It highlights the government’s commitment to transparency and fiscal oversight in public finance arrangements.
- Ensures taxpayer money is carefully managed to support local education.
"The extension ensures continued efficient management of public school funds, reflecting the ongoing commitment to transparency and fiscal responsibility," a government official stated.