THE Malaita Provincial Assembly has passed the Malaita Provincial Government’s (MPG’s) revised budget for the remaining part of the 2024/2025 financial year, which is worth SBD 34,330,635.
The budget was approved by the Malaita Provincial Assembly in their budget meeting last Wednesday.
With the passage of the revised budget, MPG will continue delivering services to the province until the next budget meeting in March this year.
The revised budget outlines a total expenditure of SBD 34,330,635. The total recurrent revenue for the financial year 2024/2025 is expected to be SBD 18,192,630.
Of this amount, local revenues contribute SBD 6,543,414, while the Solomon Islands Government’s service grant contributes SBD 11,636,456. Other revenue sources include SBD 57,324 from service fees and SBD 689,112 from additional income streams.
The province is also forecasting a surplus of SBD 2,873,170, which will be allocated to cover the Provincial Constituency Development Fund (PCDF) co-funding, arrears in the Works Development Grant (WDG) and current Constituency Development Grant (CDG) needs within the capital expenditure.
The total revised recurrent expenditure for the financial year is projected to be SBD 16,053,136. These funds will be used for the core functions of the MPG – the breakdown of which is as follows:
- Salary and wages: SBD 6,056,874;
- Operational costs: SBD 3,064,369;
- Assembly and executive expenditures: SBD 2,799,698;
- Debt servicing: SBD 300,000; and
- Repairs and maintenance: SBD 851,548.
In addition, MPG has allocated a revised total of SBD 18,277,498.40 for capital expenditures in this fiscal year. The revised PCDF allocation alone stands at SBD 11,873,158.
The Provincial Finance Minister Lemuel Kevianga, pictured, expressed gratitude to all members of the Provincial Assembly for their contributions and collaborative efforts in passing the revised budget, which is crucial to ensure the continuity of service delivery to the people of Malaita.
“I would like to acknowledge the dignitaries of the Malaita Provincial Assembly, including the Honourable Premier, my fellow Ministers, members of the Provincial Assembly, the Speaker, the Clerk to the Assembly, the Provincial Secretary and other senior staff of the provincial administration for their partnership in developing our province and ensuring consistent service delivery to our people,” Minister Kevianga said.
By SOLOMON LOFANA
Solomon Star, Auki
