Fiscal team makes 5-year revenue projections - KUAM.com-KUAM News: On Air. Online. On Demand.

Fiscal team makes 5-year revenue projections

Posted: Updated:

by Nick Delgado

Guam - Governor Eddie Calvo's solution to stave off the layoffs, the tax refund bond that's been proposed, was the focus of today's special economic services meeting. Acting Bureau of Budget Management & Research director John Rios presented the Administration's revenue projections for the next five years, which according to their figures would result in a significant surplus by 2016 - as long as the government pursues the $330+ million bond.

Senator Ben Pangelinan said, "We're gonna have a $77 million surplus by 2016?", to which Rios replied, "And the big effect here is if we are really considering the tax refund bond and stuff it really if you look at that affect. First of all you in the first two years you have that debt service relief which would really help the budget."

The Administration's fiscal team admitted that the revenue projections did not include the eventual implementation of the hay study that was frozen earlier this year or the 10% raises for law enforcement personnel.

  • NEWS HEADLINESMore>>

  • Shops take Hafa Adai Pledge

    Shops take Hafa Adai Pledge

    Joining the ranks of hundreds of other local businesses and organizations. Several shops took the Hafa Adai pledge today during a ceremony Tumon. The owners of Halia and Jade, Suprim Denache, Coconut Tree Company, and Café de Sirena.More >>
    Joining the ranks of hundreds of other local businesses and organizations. Several shops took the Hafa Adai pledge today during a ceremony in Tumon. The owners of Halia and Jade, Suprim Denache, Coconut Tree Company, and Café de Sirena.More >>
  • Man arrested for two fake checks at Pay-Less

    Man arrested for two fake checks at Pay-Less

    An incident took place at Pay-Less involving fake checks. Court documents state 31-year-old Gerard DeGuzman Belga allegedly cashed a fake check at the store's Yigo location over the weekend. Staff didn't realize it was a counterfeit - evidenced by how "huMore >>
    An incident took place at Pay-Less involving fake checks. Court documents state 31-year-old Gerard DeGuzman Belga allegedly cashed a fake check at the store's Yigo location over the weekend. Staff didn't realize it was a counterfeit - evidenced by how "huMore >>
  • Decolonization commission holds final meeting of Calvo administration

    Decolonization commission holds final meeting of Calvo administration

    The last meeting of the Commission on Decolonization took place today with the Governor thanking members for their service. While some members tendered their courtesy resignations because of the incoming administration, the respective status option task fMore >>
    The last meeting of the Commission on Decolonization took place today with the Governor thanking members for their service. While some members tendered their courtesy resignations because of the incoming administration, the respective status option task fMore >>
Powered by Frankly