27 Jan 2009

American Samoa's Government over spends by US$7 million in 2007

2:35 pm on 27 January 2009

The American Samoa Government spent $7 million dollars more than its income for the fiscal year 2007.

According to the government's financial statement for that year revenues totalled almost $172 million but actual expenditures amounted to $179 million.

But the statement says the territories debt has dropped by nearly 5 per cent on the year before.

The report said although the Fono revised the General Fund's original budget during the year, the original estimates of revenues and expenditures were not significantly altered.

It was pointed out that government operations exceeded its estimated spending by $7.9 million and the education and culture function stayed well below its budgeted expenditures by $3.2 million.

This means money set aside for for education and culture activities was not spent in those areas.