MALAITA Province’s Minister of Finance, Nelson Lenty, has announced the province’s revised 2022-2023 Budget Estimates in the Malaita Provincial Assembly.
Mr Lenty, on Monday this week, announced that the total Revenue Budget Summary is estimated at SBD 24,819,672, whilst the total Expenditure Budget Summary is estimated at SBD 24,819,672.
He added that the total Recurrent Revenue for the financial is estimated at SBD 19,869,372, an increase of $1,643,818 or 9 percent from the original estimate.
“Of this total Recurrent Revenue, we have estimated that our local revenue will contribute around SBD 7,800,217, SIG (Solomon Islands Government) through its Service Grant Contribution SBD 11,636,456, Timber Right hearings $240,873, Reserve Account $161,826 and MPGIS (Ministry of Provincial Government and Institutional Strengthening) Second Appointed Day Fund $30,000.
“From the difference in total Recurrent Revenue less total Recurrent Expenditure figure, we anticipate a surplus of SBD 5,008.700 ($1,708,700 to be brought forward from 2021-22 and $3,300,000 for 2020-2023 and PCDF co-funding of SBD 100,000 in the central Expenditure,” Mr Lenty explained.
Mr Lenty added that the total revised recurrent expenditures for financial year is estimated at SBD 14,760,672.
The disbursement of these expenditures covers core expenditure levels of the Provincial Government and they are:
- Salary and wages SBD 7,070,700;
- Consultancy cost SBD 1,152,661;
- Operational cost SBD 3,151,144;
- Assembly and Executive Expenditure SBD 1,762,076;
- Debt servicing SBD 880,000; and
- Repaired and maintenance SBD 744,091.
Mr Lenty said the total revised Capital Revenue is SBD 4,950,300.
“The new PCDF allocation is SBD 1,249,637, commitment carried forward $2,260,905, tourism fund SBD 500,000, world bank integrated Economic Development and Community Resilience program (IEDCR) SBD 312,409 and government for climate resilience $ 627,349.”
He said on the revised capital expenditure, the province plans to spend a total of SBD 10,059,000 for this fiscal year.
By SOLOMON LOFANA
Solomon Star, Auki
