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$2.59M tagged for CUC reprogramming
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Posted on Apr 05 2006
The Department of Finance has identified $2.59 million funds that remain available for reprogramming to the Commonwealth Utilities Corp.
Data from the Finance Department show that the huge bulk of the reprogramming balances available as of March 27, 2006 come from the projected additional revenue for fiscal year 2006 and the tobacco control fund collections.
The document showed that Finance was expecting to collect additional FY2006 first quarter revenues amounting to $886,510.
As of March 27, there was $469,294 from the tobacco control fund. Finance estimates that over $500,000 more will be collected this fiscal year.
The department also identified almost 300,000 from various active revolving accounts, including the Board of Nurse Examiners, the hospital’s environmental quality and sanitation fund, and Saipan and Tinian ambulance fees.
Over $260,000 can be reprogrammed from the developer’s tax fund.
In addition, nearly $350,000 has been identified from the solid waste revolving fund.
In a letter to the Legislature, Gov. Benigno R. Fitial said that reprogramming funds from specified accounts remain an option in addressing CUC’s financial crisis.
“I do understand that taking funding from the respective accounts of all branches of government is causing a financial strain on their respective operations and has caused us to consider effecting a 10-percent reduction in wages for all our hardworking government employees. However, this action is necessary,” said Fitial.
CUC reportedly needs $24.4 million to ensure uninterrupted fuel supply through Sept. 30, 2006.
