GovGuam gets lowest rating since 2002 - KUAM.com-KUAM News: On Air. Online. On Demand.

GovGuam gets lowest rating since 2002

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by Sabrina Salas Matanane

Guam - The Guam Office of Public Accountability released its Performeter Report for Fiscal Year 2009. And on a scale of one to ten, ten being the most favorable, the Government of Guam received a 1.3. Auditors noted this is Guam's lowest score in seven years for the Performeter analysis and the lowest score among the ten other insular areas similarly analyzed. 

According to the report the unfavorable rating continues primarily due to its $157 million deficit. The report added that of the island's public sector's $1.2 billion in assets, 113% was funded with debt or other obligations. This means that for every dollar of assets, GovGuam owes $1.13 to others. The ration remains consistent with prior years and indicates that the Government of Guam continues live beyond its means.

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