Gov. Arnold I. Palacios has instructed Finance Secretary Tracy B. Norita to figure out how to collect some of the $121.4 million in total outstanding collectibles from account receivables the government has amassed in the last 10 years.
The concurrent resolution that the Senate is now reviewing after its recent passage in House of Representatives shows an embedded $9.1 million in Gov. Arnold I. Palacios’ fiscal year 2024 budget submission that essentially overstates the projected revenues for fiscal year 2024.
Gov. Arnold I. Palacios’ proposed budget for the government’s operations in fiscal year 2024 includes a proposal to increase the Business Gross Revenue Tax beginning in the second quarter of fiscal year 2024 for an additional estimated revenue of $9.1 million. This early, some senators believe this one-time increase will result in a hot-button tussle between the Senate and the House of Representatives.
The Department of Finance has $121.4 million in total outstanding collectibles from account receivables from the past 10 years, including $30 million in employee quarterly withholdings that were not remitted by employers, according to Finance Secretary Tracy B. Norita on Friday.
As with many other entities in the CNMI, the workforce shortage at the Commonwealth Healthcare Corp. is expected to be further exacerbated by the “touchback” rule, according to CHCC chief executive officer Esther Muña on Wednesday.