Current US-FSM Joint Economic Management Committee (JEMCO) members include:

• Mr. Nikolao Pula, Director, U.S. Department of the Interior, Office of Insular Affairs
• Mr. Fabian Nimea, Director, Office of SBOC, FSM National Government
• Mr. C. Stephen McGann, Director, Office of Australia, New Zealand, and Pacific Island Affairs, EAP, U.S. Department of State
• Ms. Evelyn Adolph, Tax Advisor, FSM National Government
• Mr. William Steiger, Special Assistant to the Secretary, U.S. Department of Health and Human Services

Current US-RMI Joint Economic Managemetn and Fiscal Accountability Committee (JEMFAC) members include:

• Mr. Nikolao Pula, Director, U.S. Department of the Interior, Office of Insular Affairs
• The Honorable Gerald Zackios, Senator, RMI Government
• Mr. C. Stephen McGann, Director, Office of Australia, New Zealand, and Pacific Island Affairs, EAP, U.S. Department of State
• The Honorable Brensen Wase, Senator, RMI Government
• Mr. William Steiger, Special Assistant to the Secretary, U.S. Department of Health and Human Services

A Joint Economic Management Committee (FSM) and a Joint Economic Management and Financial Accountability Committee (RMI) has been established to strengthen management and accountability with regard to assistance provided under the Compact, as amended, and to promote the effective use of funding provided thereunder. The duties of each committee are to:

1. Review the development plans and other planning and budget documents of the governments, and monitor the progress made by the governments toward sustainable economic development and budgetary self-reliance in relation to its written goals and performance measures;
2. Consult with providers of United States Federal Grant programs and services and other bilateral and multilateral partners to monitor the use of development assistance from all sources as it relates to the allocation of financial assistance under the Compact, as amended;
3. Review Audits called for in the Compact, as amended, or this Agreement and actions taken or being taken to reconcile problems and qualified findings;
4. Review performance outcomes and other reported data in relation to the previous year’s Grant funding levels, terms, and conditions;
5. Review and approve Grant allocations, performance objectives, and, where appropriate, assessment tools, for the upcoming year;
6. Review and approve any change proposed by the governments to the sectors to receive economic assistance set forth in Title Two of the Compact, as amended;
7. Evaluate progress, management problems and any shifts in priorities in each sector, and identify ways to increase the effectiveness of United States assistance;
8. Review quarterly trust fund investment reports;
9. Comment on the comprehensive report prepared by the governments as required by sections 214 and 215 of Title Two of the Compact, as amended, before it is submitted to the President of the United States; and
10. Attach special conditions to any or all annual Grant awards to improve program performance and fiscal accountability, and ensure progress toward macroeconomic goals.