Treasury overview report reveals
drop in collections for June

The Treasury Department’s Financial Overview report (local funds) for the month of June reveals that for every dollar ($1) received, approximately $1.06 was spent.

A copy of the report, along with supporting documents, has already been submitted to Governor Togiola Tulafono.

In summary, the actual revenue collected was $4,800,645 but the actual expenditures was $5,070,199. The budgeted revenue and expenditures were both listed at $6,096,541.

This is due largely to the drop in cash collections from the majority of ASG departments and agencies.

Of the 35 accounts listed in the cash collections summary, only 7 were able to collect more last month compared to the same time last year.

Parks and Recreation decreased its collections to $500 last month compared to $1,375 in June 2006, and the Election Office failed to collect any money in June although they brought in $2,700 the same time last year.

Not a single cent was collected from the EPA Trust Fund, Flag Day Fund, ASTCA, Property Management, Admin Law Office, and Bonds Reduction in both June 2006 and June 2007.

But the ASG has been consistent with collecting
$91,667 from the LBJ loan, which is the same amount collected the same time last year.

The following is a summary, based on the Treasury report, listing the departments and agencies whose collections dropped significantly last month compared to the same time last year:

Because of the decrease in collections, the ASG brought in only $4,800,645 in June 2007, which is $1,479,660 less than the $6,280,305 collected in June 2006.