Skip Navigation or Skip to Content

Print Featured image on news fy19-performeters

FY19 Performeters Released for Insular Areas

The Pacific and Virgin Islands Training Initiatives (PITI-VITI) program has released Performeter Reports based on the FY19 financial statements for the U.S. territories of American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands, as well as the Freely Associated States, which includes the Federated States of Micronesia, the Republic of the Marshall Islands, and the Republic of Palau. In addition, the U.S. Virgin Islands’ (USVI) FY18 Performeter has also been released.

Originally developed in 2001 to serve state and local governments within the United States, the scope and methodology of the Performeter has been adapted to provide relevant analysis for Pacific and Virgin Islands governments. Insular government Performeters offer an independent assessment of each insular government’s financial health and success, based on audited financial statements. Since 2001, PITI-VITI has developed Performeters annually for each of the insular areas. Using financial ratios, the Performeter rates the overall financial health and performance of a government on a scale of 1-10. The resulting Performeter score is strategically utilized by finance officers and elected officials to ensure better informed governance.

Performeter results were shared with the insular government heads of finance at the IGFOA Winter Conference in March 2021.  Each Performeter contains an AFTER Analysis (Audit Findings, Timeliness and Exception Resolution), which details the timeliness and accuracy of financial statements by tracking the number and type of single audit qualifications, and the timeliness of audit publication, for each government.

Highlights of the 2020 Performeter reports—and the single audits upon which the Performeters are based—include the following:

  • FY2019 single audit filing deadlines were extended 6 additional months beyond their normal 9 month publication period, allowing 15 total months from the end of the fiscal year. Most of the insular governments took advantage of this extension.
  • For 5 of the 10 insular governments, the fiscal year ending September 30, 2019 produced improved results. In addition, the VI’s 2018 financial statements showed a 15% improvement from their FY2017 score.
  • For all governments except the FSM and its four states and the RMI, the impact of GASB 68’s pension requirements in 2015 still remains a significant factor, with many of the governments’ pension systems severely underfunded.
  • For the FSM National Government, the RMI, and Palau, the Social Security programs offered by the government remain at some of their lowest funding levels in the model’s history.
  • 5 governments received unmodified opinions, (formerly known as unqualified or clean opinions) on their financial statements, with 3 additional governments only having 1 qualification each.
  • Only two governments, FSM National and Kosrae State, received unmodified (clean) opinions on both their Financial Statement audit and the audit of compliance with federal program monies (Single audit).
  • 2 governments posted $0 of new questioned costs this year, 7 governments had less than $1 million in new questioned costs, and 2 governments had new questioned costs that exceeded $1 million this year.

The Performeter is supported by the Department of the Interior’s Office of Insular Affairs, through the Graduate School USA’s Pacific and Virgin Islands Training Initiatives (PITI-VITI) www.pitivi.org . Performeter results for each insular government are available online at https://pitiviti.org/performeters.

FY19 Performeters

file type icon of Yap Performeter FY19 178

PDF

File Yap Performeter FY19

Yap Performeter FY19

Posted May 22, 2021

592 KB

Copy Yap Performeter FY19 Download Document Yap Performeter FY19
file type icon of VI Performeter FY18 177

PDF

File VI Performeter FY18

VI Performeter FY18

Posted Mar 31, 2021

802 KB

Copy VI Performeter FY18 Download Document VI Performeter FY18
file type icon of RMI Performeter FY19 176

PDF

File RMI Performeter FY19

RMI Performeter FY19

Posted Mar 31, 2021

604 KB

Copy RMI Performeter FY19 Download Document RMI Performeter FY19
file type icon of Pohnpei Performeter FY19 175

PDF

File Pohnpei Performeter FY19

Pohnpei Performeter FY19

Posted Mar 31, 2021

592 KB

Copy Pohnpei Performeter FY19 Download Document Pohnpei Performeter FY19
file type icon of Palau Performeter FY19 170

PDF

File Palau Performeter FY19

Palau Performeter FY19

Posted Mar 31, 2021

600 KB

Copy Palau Performeter FY19 Download Document Palau Performeter FY19
file type icon of Kosrae Performeter FY19 168

PDF

File Kosrae Performeter FY19

Kosrae Performeter FY19

Posted Mar 31, 2021

575 KB

Copy Kosrae Performeter FY19 Download Document Kosrae Performeter FY19
file type icon of Guam Performeter FY19 166

PDF

File Guam Performeter FY19

Guam Performeter FY19

Posted Mar 31, 2021

589 KB

Copy Guam Performeter FY19 Download Document Guam Performeter FY19
file type icon of FSM Performeter FY19 165

PDF

File FSM Performeter FY19

FSM Performeter FY19

Posted Mar 31, 2021

749 KB

Copy FSM Performeter FY19 Download Document FSM Performeter FY19
file type icon of CNMI Performeter FY19 164

PDF

File CNMI Performeter FY19

CNMI Performeter FY19

Posted May 22, 2021

749 KB

Copy CNMI Performeter FY19 Download Document CNMI Performeter FY19
file type icon of Chuuk Performeter FY19 final 162

PDF

File Chuuk Performeter FY19 final

Chuuk Performeter FY19 final

Posted Mar 31, 2021

706 KB

Copy Chuuk Performeter FY19 final Download Document Chuuk Performeter FY19 final
file type icon of ASG Performeter - FY19 161

PDF

File ASG Performeter - FY19

ASG Performeter - FY19

Posted May 22, 2021

643 KB

Copy ASG Performeter - FY19 Download Document ASG Performeter - FY19

Choose Topics

accept-rols

Thank You for Subscribing to the PITI-VITI Mailing List!

border
Telegram icon

Subscribe to our

Mailing List

Thanks for your interest in PITI-VITI and our programs! To sign up to received notifications, please enter your email address below and indicate which topics you're interested in. We do not share your information, and you can opt out of our mailing list at any time.

News Detail Page icon FY19 Performeters Released for Insular Areas

FY19 Performeters Released for Insular Areas

Calendar iconMay 04, 2021

news detail page news by  Jason AubuchonJason Aubuchon

Featured image on news fy19-performeters
FY19 Perfometers have been released for the insular areas.

The Pacific and Virgin Islands Training Initiatives (PITI-VITI) program has released Performeter Reports based on the FY19 financial statements for the U.S. territories of American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands, as well as the Freely Associated States, which includes the Federated States of Micronesia, the Republic of the Marshall Islands, and the Republic of Palau. In addition, the U.S. Virgin Islands’ (USVI) FY18 Performeter has also been released.

Originally developed in 2001 to serve state and local governments within the United States, the scope and methodology of the Performeter has been adapted to provide relevant analysis for Pacific and Virgin Islands governments. Insular government Performeters offer an independent assessment of each insular government’s financial health and success, based on audited financial statements. Since 2001, PITI-VITI has developed Performeters annually for each of the insular areas. Using financial ratios, the Performeter rates the overall financial health and performance of a government on a scale of 1-10. The resulting Performeter score is strategically utilized by finance officers and elected officials to ensure better informed governance.

Performeter results were shared with the insular government heads of finance at the IGFOA Winter Conference in March 2021.  Each Performeter contains an AFTER Analysis (Audit Findings, Timeliness and Exception Resolution), which details the timeliness and accuracy of financial statements by tracking the number and type of single audit qualifications, and the timeliness of audit publication, for each government.

Highlights of the 2020 Performeter reports—and the single audits upon which the Performeters are based—include the following:

  • FY2019 single audit filing deadlines were extended 6 additional months beyond their normal 9 month publication period, allowing 15 total months from the end of the fiscal year. Most of the insular governments took advantage of this extension.
  • For 5 of the 10 insular governments, the fiscal year ending September 30, 2019 produced improved results. In addition, the VI’s 2018 financial statements showed a 15% improvement from their FY2017 score.
  • For all governments except the FSM and its four states and the RMI, the impact of GASB 68’s pension requirements in 2015 still remains a significant factor, with many of the governments’ pension systems severely underfunded.
  • For the FSM National Government, the RMI, and Palau, the Social Security programs offered by the government remain at some of their lowest funding levels in the model’s history.
  • 5 governments received unmodified opinions, (formerly known as unqualified or clean opinions) on their financial statements, with 3 additional governments only having 1 qualification each.
  • Only two governments, FSM National and Kosrae State, received unmodified (clean) opinions on both their Financial Statement audit and the audit of compliance with federal program monies (Single audit).
  • 2 governments posted $0 of new questioned costs this year, 7 governments had less than $1 million in new questioned costs, and 2 governments had new questioned costs that exceeded $1 million this year.

The Performeter is supported by the Department of the Interior’s Office of Insular Affairs, through the Graduate School USA’s Pacific and Virgin Islands Training Initiatives (PITI-VITI) www.pitivi.org . Performeter results for each insular government are available online at https://pitiviti.org/performeters.

FY19 Performeters

file type icon of Yap Performeter FY19 178

PDF

File Yap Performeter FY19

Yap Performeter FY19

Posted May 22, 2021

592 KB

Copy Yap Performeter FY19 Download Document Yap Performeter FY19
file type icon of VI Performeter FY18 177

PDF

File VI Performeter FY18

VI Performeter FY18

Posted Mar 31, 2021

802 KB

Copy VI Performeter FY18 Download Document VI Performeter FY18
file type icon of RMI Performeter FY19 176

PDF

File RMI Performeter FY19

RMI Performeter FY19

Posted Mar 31, 2021

604 KB

Copy RMI Performeter FY19 Download Document RMI Performeter FY19
file type icon of Pohnpei Performeter FY19 175

PDF

File Pohnpei Performeter FY19

Pohnpei Performeter FY19

Posted Mar 31, 2021

592 KB

Copy Pohnpei Performeter FY19 Download Document Pohnpei Performeter FY19
file type icon of Palau Performeter FY19 170

PDF

File Palau Performeter FY19

Palau Performeter FY19

Posted Mar 31, 2021

600 KB

Copy Palau Performeter FY19 Download Document Palau Performeter FY19
file type icon of Kosrae Performeter FY19 168

PDF

File Kosrae Performeter FY19

Kosrae Performeter FY19

Posted Mar 31, 2021

575 KB

Copy Kosrae Performeter FY19 Download Document Kosrae Performeter FY19
file type icon of Guam Performeter FY19 166

PDF

File Guam Performeter FY19

Guam Performeter FY19

Posted Mar 31, 2021

589 KB

Copy Guam Performeter FY19 Download Document Guam Performeter FY19
file type icon of FSM Performeter FY19 165

PDF

File FSM Performeter FY19

FSM Performeter FY19

Posted Mar 31, 2021

749 KB

Copy FSM Performeter FY19 Download Document FSM Performeter FY19
file type icon of CNMI Performeter FY19 164

PDF

File CNMI Performeter FY19

CNMI Performeter FY19

Posted May 22, 2021

749 KB

Copy CNMI Performeter FY19 Download Document CNMI Performeter FY19
file type icon of Chuuk Performeter FY19 final 162

PDF

File Chuuk Performeter FY19 final

Chuuk Performeter FY19 final

Posted Mar 31, 2021

706 KB

Copy Chuuk Performeter FY19 final Download Document Chuuk Performeter FY19 final
file type icon of ASG Performeter - FY19 161

PDF

File ASG Performeter - FY19

ASG Performeter - FY19

Posted May 22, 2021

643 KB

Copy ASG Performeter - FY19 Download Document ASG Performeter - FY19

Newsroom Icon 1 PITI-VITI Newsroom

Newsroom 1 NEWSROOM
Featured image of news apipa-2021

32nd Annual APIPA Conference Reaches Hundreds of Accountability Professionals

Calendar iconSep 03, 2021

news widget detailed news by  Jason AubuchonJason

The Association of Pacific Islands Public Auditors (APIPA) completed its 32nd annual conference, held virtually from August 23 to September 3, 2021.  The conference was funded through the U.S. Department of the Interior’s Office of Insular Affairs technical assistance program and provided by the...

news subscribe icon 32nd Annual APIPA Conference Reaches Hundreds of Accountability ProfessionalsRead More
Featured image of news jimbo

In Memoriam: Ivan Alafanso Blanco (Our beloved Jimbo)

Calendar iconJul 24, 2021

news widget detailed news by  Jason AubuchonJason
topics:

When the Department of the Interior and the Graduate School USA started designing the Executive Leadership Development Program in 2007, we had Jimbo—and people like him—in mind.  Even at 31 years old, Jimbo demonstrated a remarkable commitment to leadership and a desire to serve his...

news subscribe icon In Memoriam: Ivan Alafanso Blanco (Our beloved Jimbo)Read More
Featured image of news fy19-performeters

FY19 Performeters Released for Insular Areas

Calendar iconMay 04, 2021

news widget detailed news by  Jason AubuchonJason

The Pacific and Virgin Islands Training Initiatives (PITI-VITI) program has released Performeter Reports based on the FY19 financial statements for the U.S. territories of American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands, as well as the Freely Associated States, which...

news subscribe icon FY19 Performeters Released for Insular AreasRead More
Featured image of news palau-covid

The Road to Recovery: Further Updating the Economic Impact of COVID-19 and Strategies for Mitigation in the Republic of Palau

Calendar iconFeb 28, 2021

news widget detailed news by  Jason AubuchonJason

The Graduate School USA’s Economic Monitoring and Analysis Program (EconMAP), with funding support from the U.S. Department of the Interior’s Office of Insular Affairs and the Asian Development Bank, has published a new Technical Note, The Road to Recovery: Further Updating the Economic Impact...

news subscribe icon The Road to Recovery: Further Updating the Economic Impact of COVID-19 and Strategies for Mitigation in the Republic of PalauRead More