Report: ASG expenditures below revenues for FY2018

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A preliminary report on ASG finances for FY2018  that the American Samoa Economic Development Authority had presented to the bond rating company Moody’s gives detailed information on how revenues have matched up against expenditures.  And also what ASG has spent revenues on.

The report had revenues at $94.1 million, up from $86.1 million in FY2017.

  • taxes raked in $60.9 million, an increase over last year’s taxes of $56.8 million.
  • Licenses and permits brought in $1.3 million,
  • Intergovernmental $13.2 million,
  • Charges for services totaled $5.3 million,
  • fines and fee raised $6.2 million,
  • indirect costs $2.6 million and
  • miscellaneous revenues was $4.3 million

Expenditures meanwhile were at $91, 063, 385…$3.1 million less than revenues.

This would be the $3 million surplus that Treasurer Ueligitone Tonumaipea was referring to at the last cabinet meeting.

As we have pointed out however the reported surplus is against a backdrop of subsidies not being paid to the college and LBJ Hospital, ASG employees going without pay increments which are included in the approved budgets and mounting outstanding debts to vendors.

According to the breakdown of expenditures:

  •  $32. 4 million was spent on general government,
  • education and culture $27.3 million.
  • Public Works $6.5 million,
  • health and welfare $4.9 million,
  • public safety $9.6 million and
  • economic development was $10.1 million.