The governor recently signed a bill providing the Commonwealth Utilities Corp., with $3.4 million in Marianas Public Land Trust funds.
This measure affected the FY 2009 budget proposal, said Hocog, Ind.-Rota.
“I decided not to [convene the committee] yet until I get the real picture of the anticipated resources that we are going to appropriate,” he added.
According to Hocog, earmarking future MPLT revenues has reduced the FY 2009 budget amount by $1.7 million.
The governor has submitted a $158.4 million budget proposal that included certain cost-cutting measures.
Hocog expects to receive an amended budget proposal from the governor’s office “probably next week.” “As soon as I get [the information on] what resources we are appropriating, then the committee will immediately work on the budget,” Hocog said.
FY 2009 starts on Oct. 1, 2008.
Since 1998, the CNMI government has managed to enact only three new budget laws.
If no new budget is passed, the government can continue to operate under the spending ceilings set by the last budget law.
