The Malaita Province Government Minister for Finance Nelson Lenty has announced the province’s budget estimated on the floor of the Malaita Provincial Assembly on Friday.
He stated, the Total Revenue Budget Summary is estimated at SBD, 73,562,996.84, Total Expenditure Budget Summary is estimated at SBD 37,562,996.84 and the Total Recurrent Revenue for Financial years 2020/2021 was estimated at SBD 27,025,421, an increase of $5,505,795 from the 2020/2021 original estimate.
“Of this total recurrent revenue, we have estimated that our local revenue will contribute around SBD9,667,495, SIG through service grant contribution SBD16,025,421, serving revenue of SBD850,000 and timber right revenue is SBD450,000.
“From the difference of total recurrent revenue less Total Recurrent Expenditure figure, we anticipated a surplus ofSBD5, 950,856 to cover the PCDF co-funding of SBD 2,170,856 and SBD 3,780,000 as WDG in the capital Expenditure,” the finance minister stated.
However, he said the total revised recurrent expenditure for the financial year 2020/2021 is estimated at SBD 21,092,060.
He stated the disbursement of the expenditure covers the core expenditure level of the provincial government and they are;
- Salary & wages which accounts for SBD 6,927,273;
- Operational cost account for SBD 6,743,169;
- Assembly and Executive expenditure account for SBD 1,686,285;
- Debt servicing account for SBD 2,110,000; and
- Repairs and maintenance SBD 3,625,333
He stated on the revised capital expenditure, the province will spend a total of SBD 16,470,937 for this fiscal year.
He stated that of the amount, SBD 4,235,770 was carried forward from the previous financial year, new PCDF allocation is around SBD 6,284,311, WDG of SBD 3,780,000, and co-funding of SBD 2,170,856.
By SOLOMON LOFANA
Auki News Bureau