Government of the Federated States of Micronesia

Federal Programs Accounting Responsibilities

PALIKIR, Pohnpei (FSM Information Service): October 14,
1997 – President Jacob Nena, on October 6, 1997, informed Chuuk
Governor Ansito Walter that Chuuk State Finance and FSM Finance have
agreed to transfer the accounting responsibilities over U.S. Federal
Grants and Compact funds to the state, and Chuuk will also be
responsible for reporting on such moneys.

Nena, however, suggested that actual payment documents review and
check signing responsibilities remain with the FSM Finance field
office in Chuuk, until such time that both parties are comfortable
with transferring these functions back to Chuuk Finance.

“The joint working effort will ensure that Chuuk State
Government’s bank account will not be negatively impacted, and it
would also alleviate the pressure on the state finance office,” Nena
concluded.