{"id":19316,"date":"2011-09-30T05:45:19","date_gmt":"2011-09-30T05:45:19","guid":{"rendered":"http:\/\/newspaper.ctsi-logistics.com\/?p=19316"},"modified":"2011-09-30T05:45:19","modified_gmt":"2011-09-30T05:45:19","slug":"nmcs-deficit-down-to-19k","status":"publish","type":"post","link":"https:\/\/www.saipantribune.com\/index.php\/nmcs-deficit-down-to-19k\/","title":{"rendered":"NMC’s deficit down to $19K"},"content":{"rendered":"
By Moneth Deposa
\nReporter<\/div>\n

From a projected budget deficit of $855,000 by the end of the fiscal year, the Northern Marianas College was able to lower the expected shortfall to just $19,000, according to the college’s chief financial officer.<\/p>\n

Roger Madriaga described the projected deficit as \u201cpretty small\u201d and may not actually happen once all records are reconciled.<\/p>\n

He said that tuition and fees paid by students played significant role in sustaining the college’s operational needs.<\/p>\n

He disclosed during yesterday’s Board of Regents meeting that the projected $19,000 shortfall covers the last payroll for personnel and utility payments this month. Today is the last day of fiscal year 2011.<\/p>\n

According to Madriaga, NMC’s current finances may be described as \u201cbreak-even\u201d throughout the fiscal year.<\/p>\n

\u201cIf you take a look [at the records] you will see that we are relatively stable,\u201d he said, adding that efforts and actions made by the college in the fiscal year were \u201cwise decisions.\u201d<\/p>\n

Since both payroll and utility payments fluctuate from month to month, Madriaga said the projected deficit may not actually be realized.<\/p>\n

For instance, he said, utility payment went from as high as $74,000 a year to as low as $44,000, while payroll went as high as $198,000 per payroll to as low as $132,000. The college has close to 200 personnel, including federally funded workers.<\/p>\n

NMC, he reported, received the following revenue and appropriation from various sources this fiscal year: $4.3 million for tuition, fees, and indirect cost; $3.9 million from the general fund; $142,000 in special funds; and $10.4 million in federal funds.<\/p>\n

NMC has two funding sources: appropriation from the Legislature, which mostly pays for the salary of personnel, and tuition and fees, which pay for the college’s non-personnel expenditures.<\/p>\n

It was earlier disclosed that the college generated a total of $4.227 million from this year’s tuition and fees.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Moneth Deposa Reporter From a projected budget deficit of $855,000 by the end of…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-19316","post","type-post","status-publish","format-standard","hentry","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/19316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=19316"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/19316\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=19316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=19316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=19316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}