13 Sep 2006

American Samoa Senate wants more information about government's earnings

10:12 am on 13 September 2006

American Samoa Senate President, Lolo M. Moliga, says the government is earning interest from many of its accounts including those held off-island but has not reported those gains in its fiscal year 2007 budget.

He says in order for the Fono to get a clearer picture of government finances lawmakers need to receive all of this information, while reviewing the budget for the new fiscal year that starts October 1st, 2006.

Lolo has written to the government Treasurer, Velega Savali, asking him to provide the information as soon as possible.

He is also asking Velega to provide an explanation of how the interest was earned.

Since last year, the Senate Investigative Committee on Budget and Appropriations has been probing government's local and off-island accounts.

The investigation found that several accounts do exist earning interest but none of these accounts have been forwarded to the Fono for review.