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Steps for FY ‘10 budget underway
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Posted on Jan 08 2009
The special assistant for Planning and Budgeting has issued a directive for government agencies to submit their budget and spending plans for fiscal year 2010.
“As we struggle to try to overcome the challenges of the current budget situation and try to avoid a major crisis here, we’ve started the budget call for 2010,” said Finance Secretary Eloy Inos.
Gov. Benigno Fitial vetoed the Legislature’s $165.4 million FY 2009 budget Dec. 24, citing an $8.7 million drop in revenue projections. The Legislature has been discussing various ways to pass a new FY 2009 budget.
“Despite the challenges and all the adversities here, we still want to do what we can do under the circumstances,” Inos said.
On April 1, the governor is expected to submit a budget proposal for the fiscal year, which starts Oct. 1.
“ We want to make sure our submission is timely and as complete and accurate as possible,” Inos said. “And hopefully that will give the Legislature the opportunity to do its job in the budget oversight and conduct hearings.”
By July 1, the Legislature is expected to pass a concurrent resolution listing the estimated income and establishing the spending limit. The governor has until Aug. 1 to submit any amendments or changes. By Sept. 1, the Legislature must submit a final budget to the governor.
When a budget is not passed the government goes on “continuing resolution,” using the prior year’s budget.
