ASG collected more and spent less than budgeted in local funds last month

Treasurer Velega Savali has submitted the Treasury Department's Financial Overview Report for local funds for August 2007 to Governor Togiola Tulafono, which shows that for every $1 collected, only 72-cents was spent.

The ASG Treasury’s Financial Overview Report for local funds last month reveals that for every $1 collected, only 72-cents was spent.

The actual revenue was $8,144,407 and expenditures only added up to $5,876,097 although $6,096,541 was the magic number listed for budgeted revenue and expenditures.

Basically, the ASG collected over $2 million more than projected and in the same token, spent $220,444 less than expected. This means that collection efforts are a success and cost saving measures and more controlled spending are being enforced, considering that the total cash collections last month had dropped compared to the same time last year ($8,829,452) and August 2005 (8,949,118).

Cash collections in different ASG departments, agencies, and other sources soared compared to the same time last year.

The list includes:

Four sources on the list showed no collections for last month as well as August 2006. They includes the EPA trust fund, Flag Day fund, ASTCA, and bonds reduction.

The LBJ loan brought in $91,667 last month, the same amount that was collected from them the same time last year.

Funding sources that fell short last month of surpassing their cash collections the same time last year are:

The summary of cash collections was included in a report forwarded from ASG Treasurer Velega Savali to Governor Togiola Tulafono.