Governor signs FY2027 budget

CNMI Governor David Apatang signed the Fiscal Year 2027 budget into law moments ago.

He told the CNMI House and Senate, "To achieve the projected annual revenue target of approximately $152.8 million equivalent to roughly $12.7 million monthly or $38.2 million quarterly, $47.7 million is reserved for earmarks and $100.7 million was allocated for all branches, departments and instrumentalities provided in Schedule A. The Department of Finance's Division of Taxation and Revenue must implement a proactive revenue assurance strategy focused on targeted, high-yield audits and the modernization of revenue collection systems. At the same time, short-term compliance incentives, coupled with clear public communication regarding statutory deadlines and payment obligations, can encourage timely voluntary remittances while reducing unnecessary enforcement burdens and improving overall collection efficiency."

Read the full budget below.