TOFOL, Kosrae — July 27, 2026 — The Honorable Aren B. Palik, Vice President of the Federated States of Micronesia (FSM), officially opened the Finance Conference in Kosrae on July 24, bringing together more than 200 government officials, finance professionals, policymakers, and development partners from across the FSM.
Joining the Vice President at the opening ceremony were the Honorable Tulensa Palik, Governor of Kosrae; the Honorable Semeon J. Phillip, Speaker of the 13th Kosrae State Legislature; and the Honorable Salpasr E. Tilfas, Vice Speaker of the 13th Kosrae State Legislature.
Held under the theme “Strengthening Public Financial Management Stewardship,” the conference provides a forum for participants to strengthen accountability, improve financial management practices, and enhance cooperation among the National and State Governments.
In his opening remarks, Vice President Palik thanked the Governor, the leadership, and the people of Kosrae for hosting the conference and extending their hospitality to participants.
“You carry an important responsibility: ensuring that the resources entrusted to the government are managed carefully, responsibly, and in the best interests of our citizens,” Vice President Palik said.
The Vice President encouraged participants to be guided by six principles: treating stewardship as a public trust; setting a strong standard through leadership; applying responsible financial practices in daily government operations; advancing national development through sound public financial management; strengthening cooperation between the National and State Governments; and recognizing the important contributions of development partners.
Echoing this message, Governor Palik said the FSM is entering an important new chapter in its development, one that brings both greater opportunities and greater responsibilities.
“The people we serve expect nothing short of complete accountability in the management of public funds,” the Governor said.
Vice President Palik encouraged participants to engage fully in the conference by sharing experiences, discussing common challenges, identifying practical solutions, and applying the knowledge gained in their respective workplaces.
Conference discussions will cover financial management best practices, budget planning and performance management, public accountability, fiscal policy and economic development, audit and compliance, emerging financial technologies, and professional development.
The conference reflects the National Government’s continued commitment to transparency, accountability, professionalism, and the responsible stewardship of public resources.
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