GovGuam ordered to explain excess withdrawal - KUAM.com-KUAM News: On Air. Online. On Demand.

GovGuam ordered to explain excess withdrawal

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by Mindy Aguon

Guam - District Court Chief Judge Frances Tydingco Gatewood has ordered that the Government of Guam explain why it withdrew $3.6 million more from the Solid Waste Management Division's bank account.  In an order today, the judge noted that the Division's expenses totaled $3.9 million, but the Treasurer of Guam withdrew $7.6 million from the account. 

The Treasurer was ordered to provide documentation supporting the excess withdrawal and if there is no justification, the government must re-deposit the $3.6 million in the bank or provide credit for future expenses by next month. Additionally, the court made it clear that with the government's chronic cash shortage, SWMD's bank accounts must be reserved exclusively for the use of the division.

Federal receiver Gershman, Brickner & Bratton was also ordered to work with the incoming administration to determine whether GovGuam intends to give up any claim to use any capital funding not required for compliance with the consent decree. The next status hearing is scheduled for April 13.

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