According to the Fiscal Year 2009 budget version of the Olbiil Era Kelulau the $945,987 of the remaining balance of the subsidy “ transferred to PPUC pursuant to RPPL No. 7-47 shall revert back to the National Treasury and be deemed a source of local revenue to be authorized and appropriated pursuant to law.”
The remaining money will remain with PPUC and cannot be expended for any other purpose unless the power distribution company had at least and the Ministry of Finance has agreed to the amount owned by the national government for the electricity.The remaining balance from the PPUC subsidy is in the amount of $2,380,431. Earlier, PPUC wants the money to be used to pay for the electricity owed by the government.Kione Isechal, PPUC Chairman of the board said the government owes PPUC at least $2,000,000 in electricity.According to the FY2009 budget, the $945,987 will be used for following items; $500,000 appropriated for the Compact Review Committee, $46,000 appropriated for the low-income household survey, $25,000 appropriated for the Palau Visitors’ Authority, the additional $285,000 appropriated for the Senate, and the additional $5,000 appropriated for the Palau Red Cross.This total of $861,000, in addition to a previous budgetary shortfall based on the Funds Availability Analysis submitted by the Minister of Finance, comprises the total of $945,987 to be transferred to the National Treasury.
