DOE waits for wire transfer of $5M - KUAM.com-KUAM News: On Air. Online. On Demand.

DOE waits for wire transfer of $5M

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by Mindy Aguon

Guam - The Department of Education is just waiting for the wire transfer of more than $5 million to pay its vendors. DOE's third-party agent Alvarez and Marsal tested the system earlier this week to prepare for the full transfer of federal dollars. 

The U.S. Department of Education gave the green light for the drawdown of federal money. DOE is expecting to utilize another $20 million in Consolidated Grant funding that will be managed by the third-party agency for use by DOE when necessary.

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