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Torres enacts reserve fund bill

Taking a cue from the hard economic lessons of the last 30 years, when the CNMI economy went through a dizzying boom and bust, the CNMI government has created a reserve fund where it can set aside extra funds for when the need arises. Gov. Ralph DLG Torres enacted last week a...
Posted On Nov 27 2018 06:06
, By Jon Perez
0

PSS sues Torres, Legislature

The Public School System has filed a lawsuit against Gov. Ralph DLG Torres, the Legislature, and the CNMI government to settle the issue of what constitutes the mandated 25-percent funding that PSS should get from general revenues. PSS, through interim commissioner Glenn Muña,...
Posted On Aug 14 2018 06:00
, By Ferdie De La Torre

PSS expects to be in the red if…

The CNMI Public School System expects a budget shortfall before the school year ends if it doesn’t get the additional $3.7 million that was promised it and has yet to be collected from the Casino Gross Revenue Tax. PSS received $36.5 million in the fiscal year 2018 budget. This...
Posted On May 17 2018 06:06
, By Jon Perez

House passes reserve fund measure

The House of Representatives unanimously passed in late April a measure seeking to set up a reserve fund for emergencies. The House passed with a vote of 18-0 a substitute of House Speaker Rafael Demapan’s (R-Saipan) House Bill 20-100, which proposes that the first $22 million...
Posted On May 08 2018 06:06
, By Erwin Encinares
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