Some collections exceed predictions, district budgets run over
By Ferdie de la Torre
SAIPAN, CNMI (Saipan Tribune, Jan. 4, 2013) – In his annual financial report to the Legislature, Gov. Benigno R. Fitial presented positive news that he attributes to several cost-cutting measures and more stringent controls over Northern Marianas government spending.
In his annual financial report dated Dec. 31, 2012, and submitted to the Legislature yesterday, Fitial said that fiscal year 2012's net effect of both revenue and expenditures resulted in a slight surplus of $56,256 for the fiscal year.
Revenue collections totaled $102,288,584, about $288,582 above projected revenues for the fiscal year, he said.
The government's total expenditures, however, exceeded the amount set under the budget law, Public Law 17-55, by $232,328, for a total expenditure of $102,232,328. The fiscal year budget was $102 million.
The budget law requires the governor to submit...