The report on the audit of the Commonwealth of the Northern Mariana Islands' financial statements for the fiscal year ended September 30, 2009 conducted by Deloitte showed that the CNMI General Fund's deficit rose 17.4% to $300.8 million from $256.4 million in fiscal year 2008. The audit was conducted in accordance with the United States Office of Management and Budget Circular A-133.

The financial highlights of the report are as follows:

• For the fiscal year ended September 30, 2009, the CNMI's total net deficiency increased by $45.2 million to a net deficiency position of $164.2 million, which represents an increase of approximately 38.0% from the net deficiency position at the beginning of the year, as restated.
• During the year, the CNMI's expenses for governmental activities were $275.4 million, including expenses recorded for payments made or due to the autonomous agencies, and were funded in part by program revenues of $117.4 million, further funded with taxes and other general revenues that totaled $112.8 million. The difference between total revenues of $230.2 million and total expenses of $275.4 million is what resulted in the $45.2 million increase in net deficiency.
• At September 30, 2009, the General Fund reported an unreserved fund deficit of $300.8 million, which is an increase in the unreserved fund deficit of 17.4% from the prior year's reported unreserved fund deficit of $256.3 million.
• For budgetary reporting purposes, General Fund actual revenues was lower than final estimates by $18.4 million or 11.8%, while reported actual expenditures exceeded final estimated appropriations by $18.6 million or 11.0%. These amounts do not include transfers to and from other funds, nor does it include the receipt or use of long-term debt proceeds.

The financial statements included all of the activities of the CNMI and its component units using the integrated approach as prescribed by GASB Statement No. 34. Included in the report are governmental-wide statements for the governmental activities of the CNMI, along with the CNMI's discretely-presented component units. The governmental-wide financial statements present the complete financial picture of the CNMI from the economic resources measurement focus using the accrual basis of accounting. The statements include all assets of the CNMI (including infrastructure capital assets) as well as all liabilities (including all long-term debt).

Download the FY 2009 CNMI Single Audit Report

Download the Internal Controls and Compliance Report