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Tight monitoring of public funds use sought By ALDWIN R. FAJARDO
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Posted on Jan 11 2000
In attempts to continue stretching the Commonwealth’s dwindling resources in order not to disrupt the delivery of basic social services, the government has been urged to strictly monitor its use of public funds.
At the same time, Sen. Ramon S. Deleon Guerrero dared the government’s financial managers to come up with a workable plan of action to arrest possible consequences of a depleting public coffers like “payless paydays.”
“We should account for every penny we spend from the public fund. There should be a strict articulation of our use of government money,” said Guerrero.
The Tenorio Administration has been trying to come up with a lower spending plan since its assumption into office in 1998, a year after the Asian economic crisis fanned to the Northern Marianas.
Gov. Pedro P. Tenorio has been meeting regularly with his financial managers in efforts to explore all possible means to continue to reduce expenditures and increase public sector earnings to be able to carry out social obligations.
The administration has been strictly implementing austerity measures which helped the government weather the worst economic crisis to ever hit the CNMI in 20 years.
Mr. Tenorio has consistently called for the strict review and monitoring of government revenues in light of reduced Commonwealth earning projections and increasing budget deficit.
However, officials remain optimistic that earnings will soon pick up when the economy starts faring well although the administration has given up hopes that it will be able to retire the end-FY 98 cumulative deficit of $80 million.
The governor previously admitted that the current financial condition faced by the Commonwealth has virtually crippled the ability of his administration to retire the budget deficit before he leaves the office in 2001.
The continued declined in public resources has forced the government to eliminate some programs. The government previously hoped to appropriate savings from austerity measures to the reduction of budget deficit.
