 12th FSM Annual ReportPOHNPEI, Palikir (FSM Information Service): April 2000 - The 12th Annual Report of the Federated States of Micronesia on the Receipt and Expenditure of Funds made available Under the Compact of Free Association has been transmitted to Vice President Redley Killion and is now available for review at the President's Public Information Office in Palikir. The 52-page report, prepared by Sebastian L. Anefal, Secretary of Economic Affairs, is divided into five sections. Section one discusses the background, purpose, and organization of the report; Section 2 focuses on transfers and services provided under the Compact; Section 3 reviews the goals and objectives for each sector of the economy as reflected in the planning and budgetary processes during Fiscal Year 1998. Section four presents a summary on the distribution and expenditures of Compact financial assistance between and by the national and state governments; Section five summarizes the extent of the role that other U.S. federal programs have had in the FSM since the beginning of the Compact. The report is issued to meet the Compact agreement requiring the FSM to report annually to the president and Congress of the United States the implementation of the FSM state and national plans as well as the FSM government's use of funds provided by the United States through its Compact financial agreements. This annual report provides a summary description of the purposes for which Compact financial assistance and other related funds were used during the 1998 Fiscal Year. |