Marigot:--- Newly elected President of the Collectivity of St. Martin Alain Richardson indicated on Thursday that the salaries for the Collectivity workers has been secured for the month of April 2012 but he has no guarantee as to where the May 2012 salaries will come from as yet.President Richardson said the Collectivity received two transfers which made it possible for the April salaries. He said an amount of two million Euros were received as a compensation for a new housing competence "compensation de la nouvelle compétence logement" and another two and half million Euros were collected from the FCTVA (Le fonds de compensation pour la TVA (FCTVA)). The President announced one week after taking office at the beginning of April that St. Martin was in serious financial trouble since there was no monies in government coffers. The President indicated then that he met with the Prefet of St. Martin and Guadeloupe to express the financial dilemma St. Martin was facing. President Richardson also indicated back then that he was busy conducting an audit and that St. Martin needed at least 30 million Euros to sustain its operational cost for the year 2012.