The Fiscal Year 2023 proposed annual budget was submitted to OEK this July 7, 2022, by President Whipps Jr.
The proposed budget maintains the same level of funding as this year at $91,914,000.00. The Sources of funding come from local revenue, Compact drawdown, and $15 million loan from the policy-based loan.
The bill included 75 cents “ across the board increase,” to which President Whipps added about $60 to each person’s salary. That is a total of around $3.5 million new expense to the budget.
Despite not supporting direct government subsidies, such as “The PPUC Automatic Fuel Price Adjustment clause, President Whipps said he added it this time due to the challenges people are currently facing.
The draft FY 2023 draft unified budget contains a policy decision to amend the current law and delay the implementation of the Corporate Registration Act.