by Mindy Aguon
Guam - $600 million. That is the projected revenues for Fiscal Year 2011. Governor Felix Camacho sent the proposed budget, which is an 8% increase from the current budget, for the coming fiscal year to lawmakers on Friday.
The Camacho Administration's spending plan provides partial funding for pay increases for GovGuam employees as well as $246 million for education, $101 million for health, and $107 million for public safety.
Bureau of Budget Management & Research Director Bertha Duenas says that $14 million has been set aside for partial funding for pay increases for GovGuam employees. "We can't obviously fund it all at one time, but we did set aside some certainly and we also put a provision in that any collections over and beyond the adopted revenues eventually in 2011 that it also be used for that purpose."
Chief Economist Gary Hiles added that a lot went into the development of the budget and there are still several factors that may change before Fiscal Year 2011 begins in September. He explained, "We should have some information on how Japan proceeds with the buildup issues and also the president's budget for Fiscal Year 2011 should be out shortly. And that may have some impact on the revenues for the year ahead."