The American Samoa Government’s budget proposal for fiscal year 2015 - which begins Oct. 1, 2014 - is the main issue which lawmakers will tackle when the 4th regular session of the 33rd Legislature convenes next month.

In an effort to get advance information before the administration submits the FY 2015 proposal, Rep. Larry Sanitoa is asking the Legislative Financial Office (LFO) for assistance in obtaining general fund expenditure and revenue reports from the ASG Budget Office and Treasury Department.

The reports, according to Sanitoa, are to cover the period of Oct. 1, 2013 (the start of FY 2014) through Apr. 31, 2014.

Sanitoa is also asking the LFO for the FY 2013 ASG Financial Statement and/or Audit Report, saying that it's now June and “we should have a [FY] 2013 audit report by now.” (Sanitoa, along with others in the Fono, are eager to find out the status of ASG revenues in FY 2013, and whether ASG has been operating in the black or in the red.)

In a letter to the LFO requesting the reports, the Tualauta faipule said that in the coming months, the LFO, the Fono and ASG will engage in reviewing and discussing the Fiscal Year 2015 budget.

“However, to comprehend future projections and forecasts, we will need to continue monitoring our current revenues and expenses for this fiscal year,” he said and noted that the requested financial reports are important when it comes time to debate the FY 2015 budget.

BACKGROUND

Based on a new “preliminary and unaudited” ASG financial report received by the Senate in late March this year, the Treasury Department says the government is on track to meet revenue projections at the end of the second quarter of fiscal year 2014.

As of Mar. 18, “revenues collected are  $42,803,006.40 (or $42.80 million) in comparison with expenditures at $40,724,325.74 (or $40.72 million)”, the report says.

However, there were no updated financial reports for ASG included in Treasury Department’s second quarter performance report, which was received by the Fono last month. The quarterly reports are submitted by all ASG entities and the second quarter covers Jan. 1-Mar. 31, 2014.