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TORRES OPTIMISTIC ON FY 2017 BUDGET:
‘Resources could exceed $203M budget’
Gov. Ralph DLG Torres expects government resources to exceed the $203 million gross budgetary resources projected in his budget submission last month.
After adjustments, some $127.8 million is available for appropriations by the Legislature.
Torres on Thursday said he was “optimistic” and is seeking clarification from the Department of Finance and its Division of Tax and Revenue.
“But I believe our projections as of last month exceeded what was projected for the” budget.
“So [if] this trend continues most definitely we would be exceeding the $203 budget,” he said, adding that he “definitely” thinks they might see a higher budget projection come supplemental figures this July.
Of the $203 million budget resources some $74.8 million were identified from project business gross tax revenue and another $41.8 million from income taxes, and $35.5 from excises taxes, among other taxes and revenue sources.
Torres noted that the Saipan casino, Best Sunshine International, Ltd. was paying an average of $3 million to $4 million in taxes per month, and is trying to get the “exact number on their taxes” over the last year.
Torres said if numbers do exceed the proposed budget, he would identify those funds and have the legislature be allowed to appropriate them.
“As a governor, I actually spoke to the attorney general regarding that matter. So if there is excess, the governor doesn’t just arbitrarily take it and use it for whatever I decide. Those funds should be appropriated by the legislature. But until I identify that as over the budget—I need to identify it first before that budget is distributed,” he said.
In budget submission to the Legislature, Torres, among others, laid out a plan to increase salaries of law enforcement and first responders in three separate phases starting from salaries less than $25,000, to salaries in excess of $25,000, and for those not included in the prior phases.
Torres’ proposal provides funding for the first two phases, and budgets “a cumulative total in excess of $3.5 million for the salary adjustments of these law enforcement,” including new positions to support anticipated increase in tourism activities.
