28 Feb 2012

Federal funds exceed local CNMI revenue

6:39 pm on 28 February 2012

US federal spending and grants pumped into the Northern Marianas now exceed the local government's gross revenue.

The federal government's grants in 2010 alone reached almost 190 million US dollars, exceeding local revenue of more than 130 million.

From 2001 to 2008, CNMI revenues exceeded federal grants, based on numbers from the Consolidated Federal Funds Report and completed annual CNMI single audits.