23 Apr 2009

American Samoa's treasury reduces accounts receivables

10:40 am on 23 April 2009

The American Samoa treasury has been able to reduce accounts receivables by more than half.

Treasurer Magalei Logovii says account receivables were five million US dollars when he took over in January and have now been reduced to two million US dollars.

The treasurer's strategy was to have the Collections Division assign bad accounts among staff with each staff member providing a weekly report to the Treasurer on the progress of their efforts to collect from the debtors.

Magalei says most of the receivables were due from tenants in Industrial Park and another substantial amount was collected from businesses at the airport.

The treasurer says the government is willing to work with companies and individuals as long as they make a good faith effort to pay arrears.

He says those that are still unable to pay after a certain period of time would be referred to the Attorney General's Office.