TUESDAY 4TH APRIL 2017
Parliament has also passed the 2017 Supplementary Appropriation Bill 2017 on Monday 3rd April 2017.
It has appropriated an additional Thirteen Million, Seven Hundred and Forty Six Thousand, and Fifty Two Dollars to the service of the year ending 31st December 2017.
The 2017 Supplementary Appropriation Bill 2017 consisted of recurrent contingency warrants, recurrent advance warrants and variations in appropriations for development expenditure that total up to $13,746,052.
The amounts being appropriated were as follows:
||Ministry of Police, National Security and Correctional Services
||Fund for procurement of ceremonial and duty uniforms for RSIPF and CSSI
|TOTAL RECURRENT EXPENDITURE
|DONOR SUPPORT - RECURRENT
||MINISTRY OF ENVIRONMENT, CLIMATE CHANGE, DISASTER MANAGEMENT AND METEOROLOGY
||European Union (EU-GIZ ACSE) support for project copying with Climate Change in the Pacific Region for replacement of diesel powered generation with solar Hybrid Generation (Selwyn College and SINU)
|TOTAL RECURRENT ADVANCE WARRANTS
Variations in Appropriations
||MINISTRY OF FINANCE AND TREASURY
||Additional Fund for National Statistics Office (NSO) Development projects/implementation of key nationwide statistics projects
In terms of 2017 Budget Revenue and Expenditure, the Public Accounts Committee (PAC) reported that as of the 24th of March 2017, the Solomon Islands Government have executed $683 million or 18% of the annual revised Budget of $3.8 billion. The break-up of expenditures to date are as follows:
- The highest rate of expenditure has been across other charges at $349 million or 23% of the total budget of $1.531 billion.
- The second highest rate of expenditure has been across Payroll at $204 million or 20% of the total budget of $1.03 billion
- The lowest rate of expenditure to date has been across the Development Budget at $122 million or 10% of the total budget of $1.18 billion.
The report further stated that the level of monthly expenditures for 2017 is higher than revenue collections from January to March.
And it warned that if this trend continues, the SIG will ‘ration’ cash on a monthly basis in order to ensure basic payments such as salaries, rentals and utilities are covered.
Payments to Government services at this point are only being made as and when tax and non – tax revenues are collected.
- The rate of expenditure is much higher than the rate of revenue collections and at this point:
- Although revenue collections in February were lower by $40 million this year in comparison to 2016, total SIG expenditures were higher this year than last year’s expenditure in the month of February by $33 million or 13%.
- In February. Although revenue collections were far lower than anticipated than last year, expenditures far surpassed revenue collections by $108 million or 59%.
More detail on Government’s current financial situation can be seen in the PAC report on the 2017 Supplementary Appropriation Bill 2017.
Parliament meeting continues but a Sine Die motion is expected this Friday 7th April 2017.