Congress of the Federated States of Micronesia

FSM Congress News, May 14, 2003

PALIKIR, Pohnpei (FSM Congress): May 14, 2003 –
Congress sat today and announced that it will be
conducting a meeting tomorrow with the JCN, the Departments of Finance and
Administration and Justice, and other relevant departments and offices to
discuss the procedures to be used in preparation of the FY 2004 Budget.

The FY 2004 budget is the first and priority issue to be tackled by the
13th Congress. This year’s budget involves new funding under the amended
compact and new procedures on how it may be dealt with.
Congress agreed to meet with the Department of Finance and Administration
and JCN members to discuss budget procedures to be used in dealing with the
budget.

Chairmen of the Standing Committees informed the Speaker that their
committees have organized and are now prepared to work on the FY 2004 budget
and any other assignments the Speaker might have for them.

Speaker Peter Christian asked the Committees and Members to go ahead and
look at the numbers in the budget and prepare themselves for public
hearings, which shall begin as soon as the budget procedures are finalized.

Floor Leader Henry Asugar encouraged Members to consider and agreeing to a
direction as to how the committees would approach the budget in light of the
current financial situation of the government.

Congress will hold its first meeting with His Excellency Joseph Urusemal,
President of the FSM, on Friday, May 16. The meeting will take place at the
Central Facilities Building.

During the brief session yesterday, Speaker Christian called Members’
addition to the following communications; one communication pertains to the
appointment of Senator Sabino Asor as the new member of the JCN, replacing
the former Speaker Jack Fritz. Other communications included the FY 2003
Semi-Annual National Government expenditure and performance reports for
period ending March 31, 2003, the Department of Finance and Administration’s
revenue projection for the FSM National Government for FY 2003, and the
official organization of the Chuuk State Legislature.

Congress will reconvene with its session tomorrow, May 17, at 10:00 a.m.