Committee
Finance Committee
Reviews and develops legislation related to the state budget, taxation, appropriations, and fiscal policy that determines how Yap State raises and spends public funds.
This committee holds critical responsibility for Yap State’s financial health and fiscal management. The committee examines all legislation with budgetary implications, reviews the state budget proposal, and provides oversight of how public money is collected and spent to serve the people of Yap.
The committee’s primary responsibility is reviewing the annual state budget submitted by the Governor. Members analyze proposed expenditures across all government departments and programs, evaluate revenue projections, and recommend adjustments to ensure the budget is balanced, realistic, and aligned with state priorities. This comprehensive review ensures public funds are allocated responsibly and effectively.
On revenue matters, the committee considers legislation affecting state taxes, fees, licenses, and other sources of government income. The committee examines how revenue measures impact citizens and businesses while ensuring the state has adequate resources to provide essential services.
Regarding appropriations, the committee reviews all bills requiring state funding, assessing whether proposed expenditures are justified, affordable, and serve the public interest. The committee also monitors spending throughout the year to ensure appropriated funds are used as intended.
The committee provides oversight of financial management practices across state government, working to promote transparency, accountability, and sound fiscal stewardship. This includes reviewing financial reports, examining procurement practices, and addressing concerns about government spending.
The committee holds public hearings on the state budget and major fiscal legislation, providing citizens the opportunity to comment on spending priorities and revenue proposals. These hearings are essential to ensuring budget decisions reflect community values and needs.
Committee meetings are open to the public unless discussing matters requiring confidentiality. Meeting schedules and agendas are posted in advance on this website and at the Legislature building.
