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$206M budget endorsed
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Posted on Sep 09 2005
The House of Representatives made its final approval of $206.5 million as the government’s only available resources for Fiscal Year 2006.
In a session yesterday morning, the House approved House Concurrent Resolution 14-3, which sets at $217.4 million the total identified budgetary resources for the next fiscal year.
Of this amount, $11.2 million will be taken out for the following obligations: Public School System bond repayment, $2 million; capital improvement project $60 million bond repayment, $5.2 million; Marianas Public Land Trust remittance to Northern Marianas Housing Corp. (Public Law 12-27), $1.3 million; and Land Compensation bond repayment, $2.7 million.
The net amount of $206.2 million will be increased to $208.5 million in view of $2.3 million in additional resources from the earmarked Tobacco Settlement Fund ($122,389), Tobacco Control Fund balance ($509,950), and Tobacco Control collection ($1.7 million).
The total revenue and resources available, however, goes down to $206.5 million due to the 1 percent that will be deducted for deficit reduction, equivalent to $2 million.
The remaining amount of $206.5 million will be shared by all government departments, including PSS, which is assured of $50 million funding. If the PSS appropriation bill is passed, all other government departments would be left with $156.46 million for FY 2006.
Lawmakers agree that this would result in massive cuts in the funding of other departments.
The government currently operates on a $213 million continuing resolution. Under the present appropriation, PSS receives $37.2 million a year.
HCR 14-3 now goes to Senate for action.
The resolution rejects the Babauta administration’s nearly $20 million proposed revenue enhancement measures, which form part of its $225.8 million budget submission last April.
These included proposals to raise the poker fee licensure fee by $6,000, suspend Tobacco Control and Tobacco Settlement Funds, and divert local poker funds to the General Fund.
The administration identified $206 million in available resources for FY 2006, in view of the projected decline in revenues from the garment industry.
