 President signs $33.8 million budget into lawPOHNPEI, Palikir (FSM Information Service): July 2000 - President Leo A. Falcam, July 12, signed into law the Fiscal Year 2001 Budget Act, which appropriates $33,838,991, but he noted some concerns. In his letter to Congress Speaker Jack Fritz telling him of the act being signed into law the President wrote, "My Administration is very pleased over all with the Fiscal Year 2001 Budget Act. Nevertheless, I am concerned that a number of projects of critical importance for which funding was specifically sought, have not received funding." Among these projects, said the President, are Private Sector Investment Projects, the National Investment Promotion Council, and FSM Solar Desalination. The President also noted that some other very important capital improvement projects and programs have received substantially less funding than requested. The President said in the letter to the Speaker that he hopes Congress will reconsider these needs in its upcoming sessions. The budget act provides for the budgeted operating expenses of all branches of the FSM government, various programs, subsidies, grants and contributions. The budget act provides $14,206,333 for operating expenses of the executive branch; $3,210,822 for operating expenses of the legislative branch; $976,294 for operating expenses of the judiciary; $517,785 for operating expenses of the Public Auditor; $1,701,498 for operating expenses of agencies of the national government; $2,051,601 for special programs; $3,549,791 for grants, subsidies, and contributions; $348,000 for the energy budget; $882,000 for operating expenses of the FSM Telecommunications Corporation; $471,567 Compact section programs; $3,300,000 for the College of Micronesia-FSM; $450,000 for the Micronesian Maritime Fisheries Academy-COM-FSM; $1,039,700 for post-secondary educational assistance; and $1,133,600 for capital development. |