Goso and Comino
06-12-2005, 19:05
2006 Fiscal Year Summary
2,688,394,218.74 G£ Total Budgeted
- 2,680,204,208.24 G£ Total Expenditures
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8,190,010.50 G£ Total Surplus
General Overview:
With a marked economic increase in Third and Fourth Quarters of 2005 arriving just in time for annual tax collection (24 Dec.), budget estimates have concurrently risen at a level of almost 8% (G£), translating into the largest Quarterly rise in budget since the 2000 tax increase. While hampered by moderate inflation (1.213 G£ = 1 USD as opposed to 1.116 G£ eight months ago) this still equates the largest growth of recent years and will provide ample margin for increases in Social Programs or – as proposed by some – national oil supplies.
Budgetary Concerns:
Welfare/Unemployment – Continuing to be the greatest source of expenditures by the Gosian and Cominan governments, Welfare Programs including Facie di Imnigotium [Unemployment Act] (1983) and Progreci di Sociedade Lex [Social Progress Legislation] (1922) dominate the budget. However, the recent cuts in Progreci di Sociedade Lex have decreased the overall budget consumption from these Wefare Programs, down from 34% overall to a mere 30%. While the leftover 4% of the budget (130,440,887.50 G£) remains in flux, the current political climate will likely see it shifted towards the proposed Guardes di Costieras Gosiane at Cominiane [Gosian Coast Guard].
Nationalized Healthcare – As the second largest source of expenditures, the National Healthcare Program has been targeted for reduction as part of the Progreci di Sociedade Lex fund redirection campaign, at a similar level of 4% for the fiscal year 2006. The remaining, semi-comprehensive healthcare system will be fixed at 22% of the current budget (717,424,881.20 G£), with room for possible growth. Funds diverted from healthcare for fiscal year 2006 will be diverted to use in the Facie di Via Renovo [Highway Reconstruction Act].
Education – With a rapidly globalizing society, the demand for higher education has increased sharply over the past eighteen months. While privatization has helped stem the demand with little in the way of negative effects, the need for an expanded Education System has not escaped the eyes of Parliament. Current expenditures for all schools are expected to rise with inflation, and the increase in expenses can be more than met through the existing tax structure (19% - 619,594,215.60 G£) while maintaining a considerable growth margin.
Commerce – As our governments pursue a policy of globalization, the demand for an effective merchant marine continually grows. To keep up with the need for expanded means of trade, the Departimente di Fabrice [Department of Trade] has partitioned funds on the order of 360,000,000.00 G£ for the purchase of four new cargo vessels bound for our ports second quarter 2006. Maintenance on these and other vessels raises the costs to a total of 17% of the current budget (554,373,771.85 G£). To further expand shipping assets, the proposal has reached Parliament for a National Shipping Protection Service, but with the Guardes di Costieras Gosiane at Cominiane likely to be established within the coming year this seems redundant. The only significant impact of such a policy will likely be in the allocation of Commerce funds to the new national defense budget.
National Defense – Currently without even a police force, Parliament has enacted Tutamnie Nationale Lex 01 [National Defense Legislation 01] as of Nov. 15, 2005, which will establish a national police force to be funded at 1% of government revenues (32,610,221.87 G£). Furthermore, in the Guardes di Costieras Gosiane at Cominiane Lex passes as expected in 1st Quarter 2006, the budget for national defense will rise to nearly 6% of government revenues (195,661,331.22 G£) with the prospect of additional funding on an equal or higher level through the Woodstock Pact.
Transportation – In order to fund the Facie di Via Renovo [Highway Reconstruction Act], the current budget calls for expenses at the level of 2% of the national budget (65,220,443.75 G£). While it is unlikely that these costs will rise significantly, he prospects of continued transportation projects beyond the two-year timeframe for the Facie di Via Renovo are quite high. Expect the 2% partition to remain until at least FY 2010.
[OOC: This is just a summary of my budgeting for FY 2006, and is sumbject to change. I'll add on to this as things progress.]
2,688,394,218.74 G£ Total Budgeted
- 2,680,204,208.24 G£ Total Expenditures
-----
8,190,010.50 G£ Total Surplus
General Overview:
With a marked economic increase in Third and Fourth Quarters of 2005 arriving just in time for annual tax collection (24 Dec.), budget estimates have concurrently risen at a level of almost 8% (G£), translating into the largest Quarterly rise in budget since the 2000 tax increase. While hampered by moderate inflation (1.213 G£ = 1 USD as opposed to 1.116 G£ eight months ago) this still equates the largest growth of recent years and will provide ample margin for increases in Social Programs or – as proposed by some – national oil supplies.
Budgetary Concerns:
Welfare/Unemployment – Continuing to be the greatest source of expenditures by the Gosian and Cominan governments, Welfare Programs including Facie di Imnigotium [Unemployment Act] (1983) and Progreci di Sociedade Lex [Social Progress Legislation] (1922) dominate the budget. However, the recent cuts in Progreci di Sociedade Lex have decreased the overall budget consumption from these Wefare Programs, down from 34% overall to a mere 30%. While the leftover 4% of the budget (130,440,887.50 G£) remains in flux, the current political climate will likely see it shifted towards the proposed Guardes di Costieras Gosiane at Cominiane [Gosian Coast Guard].
Nationalized Healthcare – As the second largest source of expenditures, the National Healthcare Program has been targeted for reduction as part of the Progreci di Sociedade Lex fund redirection campaign, at a similar level of 4% for the fiscal year 2006. The remaining, semi-comprehensive healthcare system will be fixed at 22% of the current budget (717,424,881.20 G£), with room for possible growth. Funds diverted from healthcare for fiscal year 2006 will be diverted to use in the Facie di Via Renovo [Highway Reconstruction Act].
Education – With a rapidly globalizing society, the demand for higher education has increased sharply over the past eighteen months. While privatization has helped stem the demand with little in the way of negative effects, the need for an expanded Education System has not escaped the eyes of Parliament. Current expenditures for all schools are expected to rise with inflation, and the increase in expenses can be more than met through the existing tax structure (19% - 619,594,215.60 G£) while maintaining a considerable growth margin.
Commerce – As our governments pursue a policy of globalization, the demand for an effective merchant marine continually grows. To keep up with the need for expanded means of trade, the Departimente di Fabrice [Department of Trade] has partitioned funds on the order of 360,000,000.00 G£ for the purchase of four new cargo vessels bound for our ports second quarter 2006. Maintenance on these and other vessels raises the costs to a total of 17% of the current budget (554,373,771.85 G£). To further expand shipping assets, the proposal has reached Parliament for a National Shipping Protection Service, but with the Guardes di Costieras Gosiane at Cominiane likely to be established within the coming year this seems redundant. The only significant impact of such a policy will likely be in the allocation of Commerce funds to the new national defense budget.
National Defense – Currently without even a police force, Parliament has enacted Tutamnie Nationale Lex 01 [National Defense Legislation 01] as of Nov. 15, 2005, which will establish a national police force to be funded at 1% of government revenues (32,610,221.87 G£). Furthermore, in the Guardes di Costieras Gosiane at Cominiane Lex passes as expected in 1st Quarter 2006, the budget for national defense will rise to nearly 6% of government revenues (195,661,331.22 G£) with the prospect of additional funding on an equal or higher level through the Woodstock Pact.
Transportation – In order to fund the Facie di Via Renovo [Highway Reconstruction Act], the current budget calls for expenses at the level of 2% of the national budget (65,220,443.75 G£). While it is unlikely that these costs will rise significantly, he prospects of continued transportation projects beyond the two-year timeframe for the Facie di Via Renovo are quite high. Expect the 2% partition to remain until at least FY 2010.
[OOC: This is just a summary of my budgeting for FY 2006, and is sumbject to change. I'll add on to this as things progress.]