The Lolo Lemanu Administration boasts in the executive summary of the proposed Fiscal Year 2019 budge for ASG of taking “unconventional and unprecedented bold steps” to advance and improve the territory’s social, economical and political goals, and declares that these adopted and calculated risks have produced positive outcomes.
Says the narrative to the budget bill, “We dared to float bonds to generate new revenues to supplement limited Capital Improvement Project funds from the US Department of Interior. Moreover we went against conventional wisdom by establishing the second only government owned bank.”
It says this project is progressing well with new banking services being rolled out and a lot more to be unveiled before the end of the year.
It also mentions harvesting the sun to power the territory and at the same time reducing our carbon footprint, solving transportation problems to Manu’a with the purchase of the MV Manu’atele, and the new tugboat Iseula.
Other highlights mentioned are transferring traditionally performed government services to the private sector though there’s no example cited.
The narrative states the local preference policy for all government contracts and purchases is being aggressively promoted to maximize the multiplier effect of each dollar that enters the territory with the expectation of incentivizing the creation of more jobs.
“Through our joint efforts, the federal government has relaxed its bonding requirement which now has opened the door for local construction companies to bid for federally funded projects.”
The administration says dilapidated public highways are close to being fully repaired and that includes not just the main highways but access roads as well.
Concerning the Hawaiki Cable, the budget narrative states that the Fono’s support of the administration’s decision to invest in the cable is very much appreciated because of the economic implications and efforts to diversity the economy.
“The support of the American Samoa Employees Retirement Fund Board has been pivotal to our economic diversification strategy,” says the narrative.
“The launching of the Hawaiki Cable is a testament to our collective effort to build our economic self sufficiency and self sustainability.”
However in spite of the successes “there are monumental challenged required our continued resolve and our ongoing commitment to bold actions.
“While joint efforts to expand revenue capacity has generated positive result, we are still short of the required amounts to finance many critical projects.”
As KHJ News reported yesterday the ASG proposed budget for FY2019 totals $439.5 million, an increase of 11% over the approved budget for Fiscal Year 2018.
Local revenues are estimated at $98.6 million, an increase of 2% over the current year local revenues.
The administration attributes the increase to revenue measures approved by the Fono.
65.1% of local revenues goes to salaries.
The summary of the budget states that ASG as the largest employer on the island has about 6,000 employees with an estimated total local payroll of $64.2 million.
