The House Committee on Ways and Means met with Finance Secretary Larrisa Larson and Office of the Governor special assistant for management and budget Virginia C. Villagomez yesterday to begin the budgetary process.<\/p>\n
Committee chair Rep. Angel A. Demapan (R-Saipan) presided over the meeting at the Senate chamber on Capital Hill. He said the purpose of the meeting was to review and discuss the fiscal year 2018 budget proposal submitted by Gov. Ralph DLG Torres to the Legislature.<\/p>\n
Finance identified $236,770,472 in gross budgetary resources for FY 2018, with Torres submitting a proposed budget of $145,260,075 after adjustments made for debt service appropriations, earmarked funds, and other legal obligations.<\/p>\n
Demapan said the meeting was the first step in the budget process, with the Senate Fiscal Affairs Committee, headed by Sen. Jude U. Hofschneider (R-Tinian), doing its share by also conducting budget hearings.<\/p>\n
\u201cThe focus of [yesterday\u2019s] meeting was to ensure that before the House adopts House Concurrent Resolution 20-1, all the dollar amounts submitted by the governor are accurately reported,\u201d said Demapan.<\/p>\n
Larson and Villagomez answered questions from Demapan, vice chair John Paul Sablan (R-Saipan), and eight committee members.<\/p>\n
Demapan said the next step would be on how to distribute the available funds to various government branches, departments, agencies, and divisions. \u201cIn this process, we will also be taking into consideration those included in the governor\u2019s budget proposal.\u201d<\/p>\n
The gross adjustment includes an allocation of $45 million for the CNMI Settlement Fund and $56 million or 24 percent for the government\u2019s Settlement Fund obligations.<\/p>\n
The CNMI\u2019s 2018 budget is 6 percent higher or $8,234,850 more compared to the $142.2 million in FY 2017. <\/p>\n","protected":false},"excerpt":{"rendered":"
The House Committee on Ways and Means met with Finance Secretary Larrisa Larson and Office…<\/p>\n","protected":false},"author":48,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[20,182,508,4072],"class_list":["post-251420","post","type-post","status-publish","format-standard","hentry","category-local-news","tag-budget","tag-capital-hill","tag-fy","tag-house-concurrent-resolution"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/251420","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\/48"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=251420"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/251420\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=251420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=251420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=251420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}