Government of the Federated States of Micronesia

Federal Programs Accounting Responsibilities

PALIKIR, Pohnpei (FSM Information Service): October 14, 1997 - President Jacob Nena, on October 6, 1997, informed Chuuk Governor Ansito Walter that Chuuk State Finance and FSM Finance have agreed to transfer the accounting responsibilities over U.S. Federal Grants and Compact funds to the state, and Chuuk will also be responsible for reporting on such moneys.

Nena, however, suggested that actual payment documents review and check signing responsibilities remain with the FSM Finance field office in Chuuk, until such time that both parties are comfortable with transferring these functions back to Chuuk Finance.

"The joint working effort will ensure that Chuuk State Government's bank account will not be negatively impacted, and it would also alleviate the pressure on the state finance office," Nena concluded.

For further information on this release, please contact:

FSM Office of the President
Public Information: Press, Radio, Video
P.O Box 34
Palikir Station, Pohnpei, FM 96941
Tel.: (691) 320-2548/2092
Fax.: (691) 320-4356