Previous Story
CDA board eyes $1.1M budget for 2013
|
Posted on Feb 29 2012
By Clarissa David
Reporter
Reporter
The Commonwealth Development Authority is poised to submit to the Office of Management and Budget its budget for fiscal year 2013.
CDA executive director Manuel A. Sablan said yesterday that the board approved at its meeting last Wednesday the fiscal year 2013 budget of roughly $1.1 million.
Sablan noted that the agency’s efforts to lower operational costs were reflected in this amount, which is about $40,000 lower than the 2012 budget.
According to Sablan, the agency’s biggest expense is employees’ salaries and benefits, which do not have any changes for next fiscal year.
However, Sablan said that the 2013 budget has an allowance for personnel costs since they are looking at hiring one or two more personnel in conjunction with the Department of Commerce, should the State Small Business Credit Initiative gets approved.
Sablan also noted that they are expecting to generate “some savings” in the early part of 2013 once CDA relocates to a new building in San Jose.
He said he still cannot mention the exact building since they are still in the process of finalizing the documents for the new building which he said involves CDA’s deed in lieu of foreclosure program.
CDA is currently holding office at the Waki Building along Middle Road for which they pay some $6,000 in monthly rental. The lease will expire in September 2020.
