Biennial budget goes up for public hearing - KUAM.com-KUAM News: On Air. Online. On Demand.

Biennial budget goes up for public hearing

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by Sabrina Salas Matanane

Guam - Lawmakers late this afternoon finally got to the governor's biennial budget. Bill 145 sets a revenue projection for Fiscal Year 2012 at $677 million and $573 million for FY2013.

The biennial budget also includes a 2%- reserve for both fiscal years for deficit elimination. But the big ticket item - A request for a $344 million bond to pay all past due tax refunds by Christmas, and to eliminate almost all of the deficit and erase the government's cash shortfall.

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