The president said since the fiscal year ends Sept. 30, it leaves the government only three months to ensure that essential government operation will continue without any hitch.
The proposed amount is $900,000 and it will cover International Organizations obligations, Bureau of School Administration, Airport Operations, Office of Health Service Administration, Water and Sewer Operations, Palau Elections Commission, Palau National Museum, Pacific Savings Bank (PSB) Investigation and Prosecution.
The amount proposed in the supplemental budget will also cover the Line of Credit Facility, Custom Declaration and Automated Processing System Fund, Water and Wastewater charges.
The proposed measure also includes the provision authorizing and enacting a continuing budget authority for Fiscal Year 2009.
The president also urged the OEK to reconsider the recommendations of the recent Tax Review Committee and enact the additional revenue measures that that will provide enhanced revenues in the remaining months of Fiscal year 2008 including the Hotel Occupancy Tax and Fish Export Tax.
The operation of water and sewer operations is in need of an additional $228,000 to cover the increased costs of electricity and maintenance.
The president said, the money to fund the supplemental budget will be taken from the proceeds of the Taiwan Mega Bank Loan, which is supposed to be for the improvement of the Palau International Airport.
He said the money will be obtained from the Taiwan loan because the OEK failed to act on the proposed additional revenue.
The supplemental budget will also cover the additional $104,000 needed for payment of outstanding membership fees for various international and regional organizations.
The election commission needs an additional budget of $15,000 to cover the cost of operating polling places in Guam, and the Northern Marians Islands for the Nov. general elections.
The president also proposed an appropriation of $200,000 for the ongoing PSB investigation and prosecution.
