BY SAMIE WAIKORI
MALAITA Provincial Assembly is gearing to pass the 2023/2024 original budget estimate of $33, 469, 196 by Friday this week.
The new financial year begins on Saturday, April 1
In light of that, the assembly was convened where the budget was presented by provincial minister for finance, Randol Sifoni on the floor of assembly yesterday.
Going through the budget, Sifoni said the budget estimate as follows;
- total revenue budget summary is estimated at $33, 469, 196
- The total expenditure budget summary is estimated at $33, 469, 196
- The total recurrent revenue for financial year 2023/2024 is estimated at $19, 571, 109
He said from the total recurrent revenue, MPG estimated its local revenue to contribute around $6, 483, 421, SIG through service grant to contributes 11, 997, 656, timber right hearing of $300, 000, MPGIS second appointed day fund of 30, 000, supports to WDC by Integrated Economic Development and Community Resilience (IEDCR) program of 700, 920 ad IEDCR annual fees of 59, 112.
Adding that from the difference of total recurrent revenue less total recurrent expenditure figures, MPG anticipated a surplus of $6, 422, 700 to cover for the ward funded projects.
He said the total original recurrent expenditure for financial year 2023/2024 is estimated at $13, 148, 409.
The disbursement of these expenditures covers core expenditure levels of the provincial government and they are.
- Salary and wage, $7, 284, 622
- Consultancy cost, $1, 396, 755
- Operational cost, $2, 717, 032
- Assembly and Executive expenditure, $875, 000
- Debt Servicing, $450, 000
- Repairs and Maintenance, $425, 000
The total original capital revenue is $13, 898, 087.
Sifoni furthered that MPG has a new PCDF allocation of SBD4, 686, 139, commitment carried forward of SBD1, 166, 925, IEDCR new allocation of SBD2, 886, 869, commitment carried forward of SBD312, 409, UNPD new allocation SBD, 218, 396, commitment carried forward of SBD627, 349 and SIG Youth funding of SBD3,000, 000.
He said on the original capital expenditure, the province plans to spend a total of SBD13, 898, 087 for the fiscal year including ward funded projects of SBD6, 422, 700, totaled to SBD20, 320, 787.
