President Bush has proposed a $426.3-million budget for fiscal year 2007 for the seven U.S. insular areas, including the Northern Marianas.<\/p>\n
The U.S. Department of the Interior\u2019s Office of Insular Affairs announced yesterday that the total includes $347.1 million in guaranteed assistance to the four territories and three freely associated states, as well as $79.2 million in assistance that is earmarked through the federal budget process.<\/p>\n
The $347.1-million in permanent funding includes financial assistance specified in the U.S. government\u2019s Compacts of Free Association with the Federated States of Micronesia (97.6 million), the Republic of Marshall Islands ($63.7 million), and the Republic of Palau (10.7 million).<\/p>\n
This amount also covers the $30 million fund to address the social impact of migrants from the freely associated states on certain U.S. territories and states.<\/p>\n
Under the Compact-Impact formula for 2007, Hawaii will receive $10.6 million. Guam will receive $14.2 million, the CNMI will receive $5.2 million, and American Samoa will receive $14,500.<\/p>\n
In fiscal year 2006, Bush had proposed a budget of $392.4million for the insular areas.<\/p>\n
Meanwhile, the $79.2-million current funding includes $27.7 million for capital improvement projects; $22.9 million for the operations of the American Samoa government; and $8.2 million in technical assistance funding for the insular areas.<\/p>\n
The 2007 budget proposal also includes an increase of $102,000 to improve oversight of grants awarded under the Compacts. OIA hopes the additional funding will improve its capacity to monitor and administer financial grants and assistance.<\/p>\n
\u201cOIA\u2019s top priorities for the insular areas continue to be the promotion of private sector economic development and the effort to ensure that there is proper accountability for the use of federal funds,\u201d David B. Cohen, deputy assistant secretary of the Interior for insular affairs, said in a news release.<\/p>\n
\u201cWhen OIA funds critical infrastructure and invests in health and education, we are making the islands more attractive for private sector development,\u201d Cohen explained. \u201cWe also support private sector economic development more directly, through our ongoing programs to make businesses aware of opportunities that exist in the islands and through our efforts to identify ways in which the islands can improve their ability to attract investors. We will also continue to provide substantial assistance to the insular areas in their effort to improve their fiscal management capabilities.\u201d<\/p>\n
According to OIA, the President\u2019s 2007 budget request continues to promote the department\u2019s mission of assisting the insular areas to develop quality communities and economic self-sufficiency.<\/p>\n
Efforts for 2007 include continued implementation of improvements to financial management practices in the insular areas. Approaches include providing technical assistance to carry out specific plans for financial management improvements and to provide assistance to bolster and institutionalize improvements to local public auditors\u2019 offices. This is carried out through peer reviews, direct classroom training, membership and attendance at audit conferences and coordinated on-the-job training in the Interior Department\u2019s Inspector General\u2019s Office, OIA added.<\/p>\n","protected":false},"excerpt":{"rendered":"
President Bush has proposed a $426.3-million budget for fiscal year 2007 for the seven U.S. insular areas, including the Northern Marianas.<\/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-97845","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\/97845","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=97845"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/97845\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=97845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=97845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=97845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}