Public Auditor Michael Pai said the Office of the Public Auditor has arranged with independent auditing firm Deloitte to do the annual single audit of the CNMI government for the fiscal year ending Sept. 30, 2012.
Among other things, a timely completion of the government's single audit helps the CNMI obtain federal funding.
In recent years or since 2009, federal spending and grants pumped into the CNMI have been exceeding local government gross revenue. Delegate Gregorio Kilili C. Sablan (Ind-MP) earlier said this means the CNMI is now “more dependent on federal dollars.”
In a memo, Pai asked government agencies, public corporations, and autonomous agencies to fully cooperate with and assist the Deloitte audit staff.
The CNMI government's single audit should include the various agencies' single audits, he said. As such, agencies' single audits must be completed in time for inclusion in the government-wide single audit.
U.S. Interior Assistant Secretary for Insular Affairs Tony Babauta is currently on island to share and discuss with stakeholders an Interior-commissioned report that also pointed to, among other things, the CNMI's mounting cumulative deficit of over $300 million.
Gov. Benigno R. Fitial said his administration's deficit reduction plan includes setting aside lapsed and surplus funds at the end of the fiscal year and applying them toward reducing the government's cumulative deficit.
Babauta said a copy of the report will be provided to the media on Wednesday.
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