Briefing held on GovGuam's financial situation - KUAM.com-KUAM News: On Air. Online. On Demand.

Briefing held on GovGuam's financial situation

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by Mindy Aguon

Guam - Governor-elect Eddie Calvo and Lieutenant Governor-elect Ray Tenorio were briefed this morning by their administration's transition committee's fiscal team. Co-chair Jerry Crisostomo says it's clear that there are significant financial challenges as the new administration takes office next month. 

The team still believes the government must deal with a $96 million shortfall for the current fiscal year but they are waiting on some additional information on the Government of Guam's finances. "There's some additional income-revenue generating ideas that they would like to present and presented to the subcommittee, so we'll take a look at those," Crisostomo explained.

"I can't go into details of that until we have had an opportunity to review and have the governor elect look at those as well."

An overall executive report will be drafted for the final transition report that Crisostomo hopes will be done before Calvo and Tenorio are sworn-in to office.

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