Government Finance

rmi government finances (gfs format) FY97-FY07, usd'millions
FY97 FY98 FY99 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 Est.
Total revenue and grants 69.1 71.8 65.5 74.1 81.7 79.7 83.3 76.1 85.6 94.8 98.9
Total domestic revenue 28.1 25.0 23.7 24.4 23.6 27.5 28.7 33.4 35.5 36.4 36.0
Taxes 18.9 19.0 16.9 17.0 18.4 20.1 23.1 22.5 24.3 25.1 24.7
Income 8.1 7.6 7.6 8.7 9.6 9.6 12.0 10.6 10.9 11.1 10.9
Gross revenue 2.7 2.7 2.5 3.2 3.8 3.5 3.4 4.0 3.9 4.8 4.4
Imports 7.8 8.3 6.2 4.5 4.5 6.3 7.0 6.7 8.8 8.6 8.8
Other 0.3 0.3 0.5 0.6 0.4 0.6 0.6 1.2 0.6 0.6 0.6
Nontax 9.2 6.0 6.8 7.3 5.3 7.4 5.6 11.0 11.2 11.2 11.3
Fishing rights 1.9 1.3 2.3 3.7 1.8 3.3 1.7 0.9 1.4 1.5 1.4
Social contributions 7/ 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.3 6.2 6.4 6.7
Fees and charges 2/ 1.9 0.6 0.6 0.9 1.0 1.6 0.8 1.4 1.4 1.3 1.1
Investment income 0.8 1.6 0.6 0.5 0.4 0.4 0.2 0.1 0.1 0.1 0.0
Other 4.6 2.4 3.3 2.3 2.0 2.1 2.8 2.1 2.2 1.8 2.1
Grants 41.0 46.8 41.8 49.7 58.1 52.2 54.6 42.6 50.1 58.5 62.9
Of which: current grants 18.0 22.9 18.8 26.7 34.8 32.9 35.4 39.5 45.4 49.0 50.9
Compact 3/ 30.4 30.9 30.9 31.1 31.4 32.7 32.7 20.5 27.6 35.5 41.5
Other 10.6 15.9 10.9 18.6 26.7 19.5 21.9 22.1 22.5 23.0 21.4
Total expenditure 60.4 56.6 55.3 65.1 72.1 90.4 85.4 77.8 89.2 93.5 99.9
Current expenditure 52.9 51.8 48.4 52.9 52.8 73.3 71.7 66.7 77.8 78.9 78.9
Wages and salaries 18.8 18.0 17.0 17.4 18.7 21.5 25.6 30.1 32.8 34.1 33.6
Goods and services 17.8 21.6 18.8 20.1 17.9 22.3 21.9 26.8 31.2 32.9 32.0
Interest payments 6.8 5.4 4.3 2.0 1.5 0.6 0.9 0.8 0.9 0.9 0.8
Subsidies to public
 enterprises		 2.3 2.6 1.4 2.0 2.6 3.5 3.2 2.5 2.0 1.9 2.0
Other subsidies and
transfers /4		 5.2 3.5 6.1 11.1 12.1 25.5 20.2 6.5 10.8 9.2 10.5
Subsidies and transfers 7.5 6.2 7.5 13.1 14.7 29.0 23.4 9.0 12.9 11.1 12.5
Grants and subsidies 5.1 4.8 4.2 5.0 4.7 4.4 14.7 13.1 14.2 15.1 14.7
Transfers 2.4 1.4 3.2 8.1 10.0 24.6 8.7 -4.2 -1.3 -4.1 -2.3
RIF payment 3/ 2.1 0.6 0.8 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Capital expenditure 5/ 7.5 4.8 6.9 12.1 19.4 17.1 13.8 11.1 11.4 14.5 21.0
Current balance -6.9 -3.9 -5.9 -1.9 5.6 -13.0 -7.6 6.2 3.1 6.4 8.0
Overall balance 8.7 15.2 10.2 9.0 9.6 -10.7 -2.2 -1.8 -3.6 1.3 -1.0

Source: Government of RMI Audits and statistical estimates

Notes:

1 - The fiscal year ends on September 30.

2 - From FY04 onward figures include fees and charges related to the Ministry of health health fund..

3 - Does not include Compact funds earmarked for Kwajalein rental payments and trust fund contributions. .

4 - Includes $17.5 and $16.0 million contribution in FY02 and FY03, respectively, to the intergenerational trust fund subsequently transferred.

5 - Excludes $10.4 million in FY02 and $1.37 million in FY05 for loan write-offs..

6 - Cash and cash equivalents that are not reserved for specific uses.

7 - In FY02 employer and employee contributions (7% of payroll) for hearlth insurance were transferred from the Marshall Island Social Security