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Yumul resolution seeks to approve $172.5M for FY 2024
Ralph N. Yumul
Rep. Ralph N. Yumul (Ind-Saipan) has introduced a concurrent resolution that seeks to approve the $172.5 million in total revenues and resources for fiscal year 2024 as identified by Gov. Arnold I. Palacios in the proposed fiscal year 2024 budget.
House Concurrent Resolution 23-2 seeks to approve the revenues for fiscal year 2024 beginning Oct. 1, 2023, and ending Sept. 30, 2024, as Palacios submitted to the Legislature last May 1.
The House was expected to adopt the resolution at a session last Friday.
Yumul, who chairs the House of Representatives Ways and Means Committee, urged Palacios to report to the Legislature any amendment or changes to the proposed budget, including actual revenues and expenditures to date for fiscal year 2023.
The governor was also asked to report immediately any changes proposed since his May 1, 2023 letter submittal of the fiscal year 2024 budget, or other significant factors affecting the budget.
Palacios said the anticipated gross budgetary resources available for fiscal year 2024 is $172.56 million. After adjustments-deducting debt service obligations, earmarked funds and other obligations such as the annual payments due to the Settlement Fund, a total of $115.40 million is available for appropriation.
