Annual Reports

PDF Document 2017 Annual Report 3.5MB

Dear People of the Commonwealth,

In compliance with Article XI, Section 6(e), of the Commonwealth Constitution, the Trustees of the Marianas Public Land Trust (MPLT) makes this report on MPLT’s financial status and investments for the year 2017.  MPLT’s FY 2017 audited financial report is also included as part of this report.

The attached report provides the details on the distributions of the earned interest to the general revenues of the Commonwealth and to the American Memorial Park. read more...


 

PDF Document 2016 Annual Report 2.4MB

Dear People of the Commonwealth,

In compliance with Article XI, Section 6(e), of the Commonwealth Constitution, the Trustees of the Marianas Public Land Trust (MPLT) makes this report on MPLT’s financial status and investments for the year 2016.  MPLT’s FY 2016 audited financial report is also included as part of this report.

This report provides details on the distributions of the earned interest of the General Fund and the American Memorial Park Fund, to the general revenues of the CNMI. read more...


 

PDF Document 2015 Annual Report 2.3MB

Dear People of the Commonwealth,

In compliance  with Article XI, Section 6(e), of the Commonwealth Constitution, the Trustees of the Marianas Public Land Trust (MPLT) makes this report on the MPLT's financial status and investments for the year 2015. MPLT's FY 2015 audited financial report is also included as part of this report.

The attached report provides the details on the distributions of the earned interest to the general revenues of the Commonewalth and to the American Memorial Park. read more...

 


 

PDF Document 2014 Annual Report 1.9MB

Dear People of the Commonwealth,

In compliance with Article XI, Section 6(e), of the Commonwealth Constitution, the Trustees of the Marianas Public Land Trust (MPLT) makes this report on MPLT’s financial status and investments for the year 2014. MPLT’s FY 2014 audited financial report is also included as part of this report.

The N.M.I Constitution provides that proceeds from public land leases, after reasonable expenses, are to be transferred from the Department of Public Lands (DPL) to MPLT. DPL made two transfers to MPLT in fiscal year 2014, $307,109 on December 2013 and $996,743 on June 2014. The Trustees continue to work with DPL regarding the schedule for transfer of funds as provided in the Constitution. read more...


 

PDF Document 2013 Annual Report 2.8MB

Dear People of the Commonwealth,

In compliance with Article XI, Section 6(e), of the Commonwealth Constitution, the Trustees of the Marianas Public Land Trust (MPL T) makes this report on its operations and investments for the year 2013. With this report is MPLT's FY 2013 audited financial statement, which is in accordance to the government auditing standards.

This year, MPL T extended the Line of Credit of the Commonwealth Healthcare Corporation (CHCC) in the amount of $3,000,000, which manages the only hospital in the Commonwealth, to prevent it from collapsing due to its serious financial condition, and to enable CHCC to continue to provide healthcare services to the people of the Commonwealth. This investment is fully secured through the withholding of the "interest accrued on the trust proceeds" and others as specified under the "Line of Credit Agreement" with CHCC...read more...

 


 

 PDF Document 2012 Annual Report (Draft 5) 21MB

Dear People of the Commonwealth,

In compliance with Article XI, Section 6(e), of the Commonwealth Constitution, the Trustees of the Marianas Public Land Trust makes this report on its investments and related activities for the year 2012.

This report is aimed at providing to all of MPLT’s interested parties an update of not only the financial aspects of the Trust relating to financial position and activities for FY 2012, investment returns, etc., but also to inform the public as to the benefits that MPLT has provided to the Commonwealth over its thirty years of existence. Since inception, the Trust’s financial statements is audited by an independent auditor on an annual basis. To date, the Trusts’ audited reports is in compliance and accordance to the Government Auditing Standards...read more...

 


 PDF Document 2011 Annual Report 21MB

Dear People of the Commonwealth,

In compliance with Article XI, Section 6(e), of the Commonwealth Constitution, the Trustees of the Marianas Public Land Trust makes this report on its investments and related activities for the year 2011. 
 
The housing loans that the Trust received due to settlement of the loan made to NMHC continues to be an issue as collection of these loans involves administration of the portfolio and legal fees associated with the foreclosure of defaulted loans. These costs amounted to $94,944 in 2011 while earning only about $108,896 of interest. This is a result of the loan mitigation program wherein the interest rate was reduced to 2% and the monthly payment reduction. This was done in order to reduce the excessive delinquency rate (60%) inherited from NMHC at the time MPLT received these loans and to avert mass foreclosures. But even withMPLT’s aggressive loan interest reduction policy, the delinquency rate has risen and is currently at 53%...read more..
 
 

PDF Document 2010 Annual Report 8.9MB

Dear People of the Commonwealth,

In compliance with Article XI, Section 6(e), of the Commonwealth Constitution, the Trustees of the Marianas Public Land Trust makes this report on its investments and related activities for the year 2010.

The housing loans that the Trust received due to settlement of the loan madeto NMHC continues to be an issue as collection of these loans involves administration of the portfolio and legal fees associated with the foreclosure of defaulted loans. These costs amounted to $83,366 in 2010 while earning only about $115,500 in interest. This is a result of the loan mitigation program wherein the interest rate was reduced to 2% and the monthly payment reduced. This was done in order to reduce the excessive delinquency rate (60%) inherited by NMHC at the time MPLT received these loans and to avert mass...read more...

 


PDF Document 2009 Annual Report 1.8MB

Dear People of the Commonwealth,

In compliance with Article XI, Section 6(e), of the Commonwealth Constitution, the Board of Trustees of the Marianas Public Land Trust makes this report on its investments and related activities for the year 2009.

The Trust has continued to deal with the 2007 default of the loan made to NMHC for mortgage financing. Since MPLT commenced managing the loan portfolio, the Trustees have adopted policies to mitigate the loan delinquencies and potential foreclosures. This loan modification program has allowed the borrowers to have their delinquent accrued interest forgiven, their interest rate reduced to 2% and the monthly payment reduced accordingly. The Trustees are continuing to work with the borrowers in order that they may remain in their homes but this has resulted in a significant reduction to the interest earnings for this investment. The Trustees’ focus...read more...

 


PDF Document 2008 Annual Report 20MB

PDF Document 2008AR-Part1 (766KB) PDF Document 2008AR-Part2 (770KB) PDF Document 2008AR-Part3 (6.5MB) PDF Document 2008AR-Part4 (8.2MB) PDF Document 2008AR-Part5 (4.9MB)

Dear People of the Commonwealth,

In compliance with Article XI, Section 6(e), of the Commonwealth Constitution, the Board of Trustees of the Marianas Public Land Trust makes this report on its investments and related activities for the year 2008.

The Trust has continued to deal with the default of the loan made to NMHC for mortgage financing. Once the loan portfolio was return to MPLT, we had the task of dealing with the large number of delinquent loans plus a number of loans in foreclosure. It was the goal of the Trustees to limit the number of foreclosures by instituting a loan modification program... read more...

Note: The 2008 Annual Report come in two file download options - one large file or five manageable files sizes for those with a slow connection.

 


PDF Document 2007 Annual Report 9.2Mb

Dear People of the Commonwealth,

In compliance with Article XI, Section 6(e), of the Commonwealth Constitution, the Board of Trustees of the Marianas Public Land Trust makes this report on its investments and related activities for the year 2007.

During FY 2007, Public Law 10-29 & Public Law 12-27 were amended to rescind the two annual appropriations of principal back to MPLT for, 1) the interest earned on the NMHC loan, and 2) the application of the remaining balance of the annual MPLT distribution to the General fund,... read more...

 

 

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