ASG financial overview for September details
over $1 million in savings

The Treasury Department’s Financial Overview for September 2007 shows that the American Samoa Government collected more and spent less in local funds last month.

According to the report, which was submitted from ASG Treasurer Velega Savali to Governor Togiola Tulafono, for every $1 received, approximately 79-cents was spent.

The actual budgeted revenue was listed at $6,096,541 however, actual revenues of $7,575,802 far exceeded that amount.

Expenditures, or lack thereof, played a big role in savings for the government, as actual expenditures of $5,963,078 was less than the budgeted spending of $6,096,541

Collections soared in different divisions of ASG like the Tax Office whose collections skyrocketed to nearly $4 million last month, more than double the $2.3 million it collected the same time last year.

Other departments and funding sources that upped their collections last month compared to the same time last year include:

Last month’s collections were not only higher than September 2006 but also the year before that in September 2005 when the ASG received $7,171,701.