DOE will need more from reserve - KUAM.com-KUAM News: On Air. Online. On Demand.

DOE will need more from reserve

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by Mindy Aguon

Guam - The Department of Education will need another partial release of their 15%- reserve of $30 million to make payroll Friday - the last pay period of Fiscal Year 2012.

DOE superintendent Jon Fernandez told KUAM News, "Every time we identify a funding need and we need to request a release from the reserves, we do that. So our latest estimate is that we will need $6 million to address our payroll and other obligations and that request will come very soon to BBMR. I don't think they should be surprised because we've been in these conversations frequently and that will take us to the end of the fiscal year, we hope."

With the $4 million balance in reserves that will left after payroll this Friday, DOE is considering requesting the money to pay off prior obligations not to include paying out increments.

The Guam Education Board was concerned that doe would have to shoulder increments for federally-funded employees with DOE's budget. Fernandez says they'll continue to look into whether the frozen federal funds for these employees can rollover into next fiscal year.

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