Temotu Provincial Assembly has passed its 2018/19 Revised Budget.
The revision was tabled by Provincial Minister for Finance and Treasury before assembly on 23rd October after scrutiny by the Public Accounts Committee. The original $12,352,276.00 was sliced by 16% to $10, 408,095.61. The total sum being $6,923,808.00 for recurrent revenue and expenditures, $3,484,287.61 for capital revenue and expenditures. The basis for the decrease was on the reduction of the Provincial Capital development fund (PCDF) saw capital revenue reduced by 44 % from $6,186,223.00 in the original to $3,484,287.61 revised. Due to this cut the number of PCDF projects earmarked for 2018/19 were also reduced from 14 projects in the original budget to only 11 in the revised. Temotu is the second behind Central province to have passed their 2018/19 revised budgets ahead of the rest of provinces.
Temotu Province 2018/19 Budget Summary:
|2017/18 Actual||2018 /19 Original||2018/19 Revised||Variance|