MPG PASSES $28M BUDGET

BY SAMIE WAIKORI

Malaita provincial assembly recently passed its original budget estimate of $28, 678, 091 million for this current 2024/2025 financial year.

The budget should have already been in operation after an endorsement from the minister of provincial government to grant execution of the budget.

Details of the budget as follows;

  • The Total Revenue Budget Summary estimates at SBD 28,678,019
  • The Total Expenditure Budget Summary estimates at SBD 28,678,019, with balanced budget for this financial year 2024/25.
  • The Total Recurrent Revenue for fiscal year 2024/25 estimates at SBD 17,471,597, which reflects MPG’s continuous partnership with its rural populace and national government.

Further details of the budget are; MPG to contribute SBD 4,988,106 in its local revenue, while SIG through service grant to contribute SBD 11,636,456, savings revenue of SBD 57,003 and other revenue projected at SBD 847,035.

In terms of PCDF, MPG expects a surplus of SBD 3,056,860 to cover PCDF co-funding and WDC arrears and current grant in the capital expenditure.

Expenditure of the budget for financial year 2024/25 estimates at SBD 14,414,736 and covers areas such as;

  1. Salary & wages which accounts for SBD 6,065,904
  2. Operational costs account for SBD 5,799,332
  3. Assembly and Executive expenditure accounts for SBD 1,563,000
  4. Debt Servicing accounts for SBD 204,500
  5. Repairs & Maintenance SBD 782,000
  6. Representing 42%,40%,11%,2% and 5% respectively distributed to each sector mentioned

On the original capital expenditure, Malaita province will spend a total of SBD 14,262,982 for this fiscal year, and off this a new PCDF allocation of SBD7,182,059 was agreed on by the PPDC.

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