FLASH BACK – Jan. 17, 2012

Pension, refunds outpace NMRIF’s collection [/B]

The NMI Retirement Fund has collected $7.993 million in total contribution as of Dec. 31, 1999, according to NMIRF Administrator Juan S. Torres.

However, the Fund paid $9.404 million in pension and refunds and $534,000 in other general and administrative expenses. With the huge cash outflow versus revenue, the Fund’s cash flow is negative $1.945 million for the last three months.

Based on the financial report ending December 1999, NMIRF has total cash available amounting to $2.705 million, enough to cover pension cost for the entire month of January 2000.

Gov. Pedro P. Tenorio on Friday extended the declaration of disaster emergency in the CNMI in the wake of the continued threat of major volcanic eruption in Alamagan, an island north of Saipan, which has alarmed officials since July last year.

The extension means that the area remains off-limits to human habitation and that travel to the island is still restricted, except for monitoring activities conducted by authorities.

According to the latest declaration by the governor, volcanic activity and seismic phenomena in Alamagan that prompted the initial emergency status continue to exist nearly six months after it showed signs of possible major eruption.

CUC personnel reclassification OK’d[/B]

The Commonwealth Utilities Corporation’s Board of Directors adopted Friday a new personnel reclassification and compensation system for CUC employees.

The move also meant the board’s formal recognition of the report submitted by the CUC’s off-island personnel consultant, Fox Lawson.

The Fox Lawson findings aim to finally set the standards for personnel classification and compensation at the utility firm.

Alarmed by the transfer of capital improvement projects, which they claimed lack legal basis, members of the Commonwealth Utilities Corp. board demanded yesterday for the immediate issuance of an opinion from the Attorney General’s Office.

This even as they stressed that they had actually made that request to AGO months ago.

The board noted the need of an AGO opinion after getting facts during yesterday’s special meeting that CUC’s capital improvement projects have been transferred to the U.S. Army Corps as instructed by Gov. Juan N. Babauta last April.

Tudela to represent NMI in US Mayors’ meeting in DC[/B]

Saipan Mayor Juan B. Tudela will be off-island starting Jan. 22, Sunday, to represent the CNMI in the upcoming Mayors’ Winter Meeting in Washington D.C.

Tudela confirmed his attendance to the 74th Winter Meeting of the U.S. Conference of Mayors, which is from Jan. 25 to 27. The mayor will leave Saipan on Sunday and will be back on Jan. 31.

He said the meeting would be his first during his second term. He had attended the conference in previous years. “It’s my fifth time to attend the summit. I’ve been a member in the summit for five years now,” he said.

Newly installed Saipan Chamber of Commerce president Charles Cepeda said the Fitial administration should keep the balance between attracting new foreign investors and providing support to existing businesses that have been paying taxes to the CNMI government.

Cepeda said fresh investments would generally promote economic development, but the government should maintain a fair playing field that would not interfere with existing businesses’ ability to compete.

Gov. Benigno R. Fitial had appointed Cepeda to his think tank committee that was tasked to come up with solutions to the Commonwealth’s economic problem.