NMC vows to strengthen fiscal policy

It is encouraging that the chairman of the board of regents of the Northern Marianas College has vowed to work with appropriate government agencies to strengthen the fiscal policy of the college. It is a good move given that a lot is at stake in terms of maintaining the accreditation of NMC as the only higher institution of learning in the NMI.

We note with disappointment (and this isn’t intended to brow beat NMC’s management unnecessarily) the consistent deficit spending of the college since 1993 up to 1996. NMC’s deficit by year is as follows: FY `93, $1,046,586 as per preliminary audit; FY `94, $564,909; FY `95, $954,427 and FY `96, $846,995. Fiscal years 1997 and 1998 are still being audited and there’s reason to believe that both periods would again show red ink.

Is the problem triggered and compounded by the lack of funds (NMC being underfunded from the outset), the juggle of funds specifically earmarked for a certain purpose prompted by self-serving necessity that is illegal, or the lack of clear fiscal policy to encourage prudent spending? Perhaps NMC’s management is best poised to provide the appropriate answer(s) to these queries.

Indeed, the president of the college has done an exemplary job building the institution into what it is today. Undoubtedly, it is where our children go to school to learn lifetime skills or prepare for a four-year degree program in their specific field of interests. It is a good institution that has served and will continue to serve our collective efforts to prepare our children for “life after campus”.

Perhaps it is just as good a time to reassess whether its purpose is focused as a two-year college or has it burdened itself with community oriented programs (and we’re not knocking their importance) as to lose sight of its primary goal? Perhaps it has forcibly been cornered to serve as the ultimate backstop for students who were failed by the public school system. This aspect too is a serious matter that merits a review of both PSS and NMC with all efforts focused on strengthening both institutions. It is not an easy task either which way we turn and the strengthening of both systems require a collective and dedicated effort.

Overall, it’s a healthy exercise uniting behind a dedicated goal to strengthen our sole institution of higher learning. As difficult an exercise as it may seem especially for those who can’t separate people from issues, we must never lose sight of our collective desire to strengthen its operations, including its fiscal policy.
Over the years, what today seem a difficult hurdle would pan-out as well earned rewards for we were able to see the forest from the trees. More power to all concerns for their dedicated efforts to making NMC fiscally accountable and an integral part of the Northern Marianas Community.