The American Samoa Government ended the first quarter of fiscal year 2026 with a $7.8 million surplus.
The first quarter financial report for the period from October 1 to December 31, 2025 was submitted by Acting Treasurer Brett Butler to the Fono leaders this week.
The report shows that tax collections fell short of projections by $1.9 million. Individual income tax revenue dropped by $3.5 million compared to budget projections. The budgeted amount was $11.1 million but actual revenues collected was $7.7 million.
Corporate tax collections exceeded projections by $2.3 million. The budgeted amount was $7.8 million but actual revenues raised $10.1 million.
The total revenues collected for the first quarter of Fiscal Year 2026 was $39.6 million verses projections of $41.5 million, a shortfall of $1.8 million.
Overall government spending came in 24% under budget at $26.8 million versus the projected $35.2 million, with most departments significantly underspending their quarterly allocations.
Treasury was the only government department that overspent its first quarter budget. Treasury’s budget for the first quarter was $2.2 million but it spent $2.7 million, a difference of $490,000.
Spending for Special Programs was below budget by $2.9 million. $5.1 million was budgeted for the 1st quarter but actual expenditures totaled $2.2 million. The four special programs that overspent their budgets were Governor’s Contingency Fund by $26,026; Small Village Fund by $36,967, ASCC Nursing Program by $9,750 and the Lanuage and Cultural & Arts Development by $33,750.
According to the report 11% of the $6.8 million collected in earmarked funds in the first quarter went to debt service.
