18 May 2011

CNMI revenue short by over 1 million US dollars

10:14 am on 18 May 2011

The Commonwealth of the Northern Marianas government has recorded a loss of over one million US dollars in the first half of fiscal year 2011, mainly due to low hospital collections.

During the same period, expenditure exceeded allotments by more than 657-thousand, also primarily because of hospital expenses and medical referrals.

These figures are contained in the Acting Finance secretary Larrisa Larson's financial report to the Legislature and are based on the revised budget of 122 million dollars instead of 132 million.

The report shows the total deficit in the first half of the year totaled one million-745-thousand-and-23 dollars.

Ms Larson's report shows hospital collections were more than three million dollars less than estimated.