Malaita expects to pass $25m budget this week


MALAITA Provincial Assembly expects to pass its 2022/2023 revised budget of $25,292, 482 by the end of the week.

Full assembly meeting took place yesterday in Auki to debate the revised budget – similar to the budget that was defeated two months ago.

Presenting the budget on the floor of assembly yesterday, Provincial Finance Minister under Malaita New Government for Fundamental Redirection (MNGFR) Randal Sifoni thanked the administration for preparing the budget.

He said the 2022/2023 revised budget estimate are;

  • the total revenue budget summary is estimated at SBD25,292,482.
  • the total expenditure budget summary is estimated at SBD25,292,482
  • the total recurrent revenue for financial year 2022/23 is estimated at SBD 20,342,182, an increase of SBD2,116,628 or 12% increase from the 2022/23 original estimates.

Sifoni said of the total recurrent revenue, MPG estimated its local revenue will contribute around $7,982,746.

Adding that SIG through service grant to contribute SBD11,636,456, timber right hearing will be SBD294,954, SBD161,826 from reserve account and MPGIS second appointed day fund of SBD30,000.

He said from the difference of total recurrent revenue less total recurrent expenditure figures, they anticipate a surplus of SBD5,108,700 to cover the ward funded projects summed at SBD5,008,700 and PCDF co-funding of SBD100,000 in the Capital Expenditure.

Sifoni said the total revised recurrent expenditure for financial year 2022/23 is estimated at SBD 15,233,481.

Adding that the disbursement of these expenditures covers core expenditure levels of the provincial government include:

  1. Salary & wages                                                                SBD7,193,289
  2. Consultancy cost                                                  SBD1,226,935
  3. Operational costs                                                 SBD3,068,937
  4. Assembly and Executive expenditure                              SBD2,199,383
  5. Debt Servicing                                                                  SBD   900,000
  6. Repairs & Maintenance                                       SBD   644,938

He said the total revised capital revenue is SBD4,950,300, new PCDF allocation is SBD1,249,637, commitment carried forward $2,260,905 and tourism fund of SBD500,000.

Sifoni said the World Bank Integrated Economic Development and Community Resilience Programme (IEDCR) at SBD312,409 and Government for Climate Resilience SBD627,349.

He said on the revised capital expenditure, the province plans to spend a total of SBD10,059,000 for this fiscal year.

Debate on the budget speeches presented by premier Fini and minister Sifoni will begin today. Yesterday, a total of 28 MPAs from both sides have attended the meeting.

The current meeting is to pass the 2022/2023 revised budget, and before the end of this month they will convene another full assembly meeting to pass the 2023/2024 original budget.

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