Tia Belau Editorial, April 11, 2012 —-
Here’s a different way to look at the budget. RPPL No. 8-40, which is the budget law for fiscal year 2012 signed by the president last March 25 appropriates the sum of $59,394,000 for governmental operations and other obligations.
Sources of funding comes from estimated local revenues at $37,994,000; Compact funds – $17,750.000; PAN fund – $1,400,000; Hospital Trust Fund – 2,000,000; UMDA dividend – $250,000.
To use data from the IMF: 2012 Article IV Consultation—Staff Report, Palau’s nominal GDP for fiscal year 2011 stands at $220.7, which makes ROP’s budget at 27 percent of the Palau’s economy. Population based on 2011 numbers is at 20,956; GDP per capita is at $10,532.
With over $59 million to run our government, that is on the average, every head in Palau is billed the amount $2,828.30. In comparison, FY 2011 was less with appropriation totaling 57,306,100 or $2,728.86.
So here’s the breakdown of your money based on FY 2012:
$41.17 for the operation of the Office of the President
$14.48 for the office of the Vice President
$98.62 for the Ministry of Finance
$97.70 for the Ministry of State
$41.69 for the Ministry of Community and Cultural Affairs
$314.90 for the Ministry of Health
$342.49 for the Ministry of Public Infrastructure, Industries and Commerce
$172.52 for the Ministry of Justice
$335.86 for the Ministry of Health
$51 for the Ministry of Natural Resources, Environment and Tourism
$103.57 for the Judicial Branch
$181.14 for the Olbiil Era Kelulau
$229.62 for State Block Grants
$91.45 for Independent Agencies
$67.74 for Other Agencies and Activities
If the amount of $4,531,000 for the supplemental is approved then every person on island will pay, on the average, an additional $215.70 for a total of $3,044.
