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P.O. Box PS 3 Palikir, Pohnpei 96941
T: (691) 320-2324, F: (691) 320-5122

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Congress approves a national budget of $40 million for FY-2013

PALIKIR, POHNPEI. September 26, 2012 – The Seventeenth Congress of the Federated States of Micronesia this morning passed Congressional Act for a national government budget of $40,491,992 for the fiscal year 2013.

Chairman Dohsis Halbert, of the Congressional Standing Committee on Ways and Means, reported to Congress this morning that after consolidation of the proposed national government budget, the committee recommended a budget of $40,491,992 for FY-2013 to maintain throughout the FY-2012 operational budget level which was $46,947,853.   

Halbert highlighted certain areas of adjustments in the Grants, Subsidies and Contributions along with Capital and Human Resources Development. Of note are two settlements by the national government, the first being for the postal services settlement agreement between the FSM and US in the amount of $500,000 of which disbursement is “conditional upon the existence of a legally binding agreement between the two governments in conformity with the terms and obligations of the Federal Programs and Services Agreement and based on a mutually agreed upon rate.”  The second is for the settlement with the Pacific Food Services, Inc. in the amount of $154,000.  

Chairman Halbert’s committee report also underlined budget for two offices:  a) the office of the Secretary of the Department of Education which the committee recommended $93,473 from local funding due to JEMCO’s disapproval of amended Compact Sector funding for the office; and b) the National Public Auditor with a reduced budget to reflect the absence of a Chuuk Branch Office. The report went on to reiterated the hopes of the committee that the State of Chuuk will ‘take responsibility for its audits in the absence of the Chuuk Branch of the National Public Auditor.  

According to the Chairman’s report, the recommended breakdown of funding source for the $40,491,992 is for $33,834,849 to come from Domestic Revenues, $5,589,268 from the amended Compact Sectors and $1,067,875 from the Supplemental Education Grant.

The Consolidated Budget Report [ Standing Committee Report (SCR) 17-149] along with the legislative measures addressed during this Fifth Regular Session are available on Congress website at www.fsmcongress.fm.

The FY-2013 consolidated budget for national government as approved by the Congress has been transmitted to the Office of the President as Congressional Act 17-64.

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Information about the Congress of the Federated States of Micronesia is available through the:

CONGRESS PUBLIC INFORMATION OFFICE
P.O. Box PS-3  ?  Palikir, Pohnpei 96941 ?  T:  (691) 320-2324 ? F:  (691) 320-5122
e-mail: congresspio@mail.fm ?    website: www.fsmcongress.fm

 

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