Congress Pass National Government Budget for Fiscal Year 2025

PALIKIR, POHNPEI. October 07, 2024 – Following months of endless budget hearings and weeks of discussions with the national departments, agencies and office, the 23rd Congress of the Federated States of Micronesia on September 27, 2024, passed Congressional Act (CA) 23-130 for the National Government Budget for Fiscal Year 2025.

Through CA 23-130, a budget of $124,176,672 is appropriated from the FSM general fund for fiscal year ending September 30, 2025 to fund the operations of all branches of the FSM National Government; National Public Auditor; Agencies; Boards: National Authorities and Commissions; Special Programs; Grants, Subsidies, and Contributions; and Capital and Human Resources Development.

Included within the National Budget are the Compact Sector Grants which are allocated as follows: –

  • $ 7,618,319:    Education sector;
  • $   881,148:    Health sector;
  • $ 1,014,456:    Environment sector;
  • $     619,030:    Private Sector Development sector;
  • $ 1,565,948:    Public Sector Capacity Building sector;
  • $     303,470:    Enhanced Reporting and Accountability sector;
  • $ 29,019,059: Infrastructure sector; and finally
  • $ 10,220,000: Compact Sector Infrastructure Management Fund (IMF) grant.

The bulk of the Compact Sector Grants is invested in the Infrastructure Sector, the National Budget Act amended sections 10 and 11 to reflect the infrastructure funding breakdown. Section 10 is now for the Compact Infrastructure Sector Grant to be distributed to the National and State Governments to fund Infrastructure Projects and State Project Management Offices. The National Government’s portion of $1,501,749 is reflected in the budget for the Department of Transportation, Communications and Infrastructure for operations of the Project Management Unit which leaves the amount of $27,517,310 to be distributed as follows:

  1. National Government: $ – 0 –
  2. Chuuk State: $ 11,731,999.
  3. Kosrae State: $ 3,248,967.
  4. Pohnpei State: $ 7,779,264
  5. Yap State: $ 4,757,080.

Section 11 is specific to the Compact Sector Infrastructure Maintenance Fund (IMF) Grant which is to be deposited into the National and State IMF subaccounts as follows:

  1. National Government: $1,022,000.
  2. Chuuk State: $3,883,600.
  3. Kosrae State: $1,112,958.
  4. Pohnpei State: $ 2,586,682.
  5. Yap State: $ 1,614,760.

The remaining $72,935,242 from domestic revenue is what will fund the operations of all branches of the FSM National Government; National Public Auditor; Agencies; Boards: National Authorities and Commissions; Special Programs; Grants, Subsidies, and Contributions; and Capital and Human Resources Development for fiscal year 2025. Congressional Act 130 has been signed into Public Law No. 23-121 and is available on the Congress website at www.cfsm.gov.fm

 

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