Facing the Challenge: Addressing the CNMI's Fiscal Crisis Presentation

Facing the Challenge: Addressing the CNMI's Fiscal Crisis

This Commonwealth Fiscal Response Briefing Paper has been prepared by the Governor’s designated Fiscal Response Task Force at the invitation of Hon. Governor Ralph DLG Torres. The Task Force is comprised of:

• Tracy Norita, Director Division of Revenue & Taxation
• Matthew Deleon Guerrero, Financial Analyst
• Ryan Camacho, Financial Services Manager, Department of Finance
• Vicky Villagomez, Special Assistant for Management and Budget
• Jason Aubuchon, PITI/VITI Senior Program Manager, Graduate School USA
• Debbie Milks, CPA, Financial Advisor, Graduate School USA
• Kevin O’Keefe, Economic Advisor, Graduate School USA

Technical support provided by the Graduate School USA team is made possible through funding support from the Department of the Interior’s Office of Insular Affairs.

CNMI Fiscal Response Summit Proceedings

On March 4, 2020, Governor Ralph DLG. Torres established the Governor’s Fiscal Response Task Force, in collaboration with Graduate School USA, to assess the fiscal position of the Commonwealth of the Northern Mariana Islands (CNMI). The key goals of the Task Force were to calculate the impact of the COVID-19 outbreak on the CNMI economy and government revenue, gather necessary financial data to formulate policymodeling tools, and establish a framework for convening a broad collaborative stakeholder summit to recommend wide-ranging reforms to respond to mounting fiscal challenges.

CNMI Performeter FY19

This is the Performeter calculation for the CNMI government based on Fiscal Year 2019 financials. The Performeter is a analytical tool that converts a government’s financial statements into useful and understandable measures of financial performance. Financial ratios and a copyrighted analysis methodology are used to arrive at an overall rating of 0-10.

CNMI Performeter FY20

This is the Performeter calculation for the Commonwealth of the Mariana Islands based on Fiscal Year 2020 financials. The Performeter is a analytical tool that converts a government’s financial statements into useful and understandable measures of financial performance. Financial ratios and a copyrighted analysis methodology are used to arrive at an overall rating of 0-10.