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Tinian works on a revised $3M budget for 2012
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Posted on Dec 22 2011
The Tinian Legislative Delegation is now reviewing a revised proposed budget based on projected casino revenue of $3 million for fiscal year 2012, whose first quarter is now almost over.
But Senate Vice President Jude Hofschneider (R-Tinian), chair of the delegation, said yesterday that members are still weighing the latest estimate, considering that the actual collection from casino revenues in fiscal year 2011 was only $2 million.
“The delegation is still reviewing the matter. We might come up with a decision Monday or Tuesday,” he said.
The last time the Tinian delegation approved a local budget was in 2006.
Sen. Frank Cruz (R-Tinian) said that was the time when he was chairman of the Tinian Municipal Council. Cruz and Hofschneider are hoping that this time around, a budget will be passed.
A few months ago, Tinian was projecting only some $2 million revenue in fiscal year 2012, but officials said optimism on the part of Tinian Dynasty Hotel and Casino changed the figure to $3 million.
Rep. Trenton Conner (R-Tinian) said given that they have been presented different projected revenues and appropriations by Tinian Mayor Ramon Dela Cruz and the Tinian Casino Gaming Control Commission, the delegation needs to thoroughly consider their action before voting on a budget bill.
Hofschneider said the delegation is cautious about approving an optimistic budget, only to end up collecting much less than projected.
“But we know that Dynasty has been putting a lot of effort and hard work, getting charter flights to bring in tourists and generate more revenue,” he added.
The Tinian mayor wants a substantial amount of the proposed budget to be used to pay outstanding debt. These include payments to the NMI Retirement Fund, vendors and retroactive salaries. The budget request also includes funding for the Tinian Municipal Scholarship and medical referral.
Rota, meanwhile, could not pass a municipal budget because its first casino has not reopened since March 2011 and the second casino granted conditional license has yet to open its doors.
