4 Jan 2013

CNMI governor presents slight 2012 surplus

4:03 pm on 4 January 2013

In his annual financial report to the Northern Marianas legislature, the Governor has attributed a surplus to cost-cutting measures and more stringent controls over government spending.

Benigno Fitial says the fiscal year 2012's net effect of both revenue and expenditures resulted in a slight surplus of 56,000 US dollars.

Revenue collections totalled over 102 million US dollars.

The government's total expenditures, however, exceeded the amount set under the budget law by 232,000 dollars.

The budget law requires the governor to submit an annual financial report to the Legislature within 120 days following the end of the fiscal year.