OPA releases GovGuam FY12 financial statements - KUAM.com-KUAM News: On Air. Online. On Demand.

OPA releases GovGuam FY12 financial statements

Posted: Updated:

by Ken Quintanilla

Guam - For the first time in over 15 years, the Government of Guam ended the fiscal year with a surplus - over $30 million to be exact. That's according to the Office of Public Accountability's GovGuam FY2012 financial statements released today.

The surplus is attributed to bond proceeds and the government accounting standards board statement implementation along with record high revenues of close to $600 million. The OPA further highlights that while GovGuam's financial statements has been issued an unqualified or clean opinion, beginning net assets of governmental activities have been restated due to the understatement of deferred revenues and payables to federal agencies of $14.3 million. To read the highlights go to GuamOPA.org.

  • NEWS HEADLINESMore>>

  • Local firefighters, Coast Guard unit collect storm aide for Rota

    Local firefighters, Coast Guard unit collect storm aide for Rota

    Coming to the aid of our brothers and sisters in Rota who are slowly picking up the pieces after Typhoon Mangkhut are the Guam Fire Department and the Western Pacific Islands Association of Fire Chiefs. Recently, they conducted a relief drive and togetherMore >>
    Coming to the aid of our brothers and sisters in Rota who are slowly picking up the pieces after Typhoon Mangkhut are the Guam Fire Department and the Western Pacific Islands Association of Fire Chiefs. Recently, they conducted a relief drive and togetherMore >>
  • Santa Rita fire sends 3 to hospital

    Santa Rita fire sends 3 to hospital

    Three people were rushed to the Guam Memorial Hospital from injuries sustained in a structure fire in Santa Rita. Guam Fire Department spokesperson Kevin Reilly says units responded to the fire along Maria Perez St. just before 6 o’clock Thursday

    More >>

    Three people were rushed to the Guam Memorial Hospital from injuries sustained in a structure fire in Santa Rita. Guam Fire Department spokesperson Kevin Reilly says units responded to the fire along Maria Perez St. just before 6 o’clock Thursday. 

    More >>
  • Action taken on over 2,000 CLTC leases

    Action taken on over 2,000 CLTC leases

    Action has been taken on the more than 2,000 Chamorro Land Trust leases deemed voidable. As reported, the AG's opinion issued in May categorized CLTC leases as "voidable" and "null and void." Leases not ratified by the board were deemed "voidable, but not

    More >>

    Action has been taken on the more than 2,000 Chamorro Land Trust leases deemed voidable. As reported, the AG's opinion issued in May categorized CLTC leases as "voidable" and "null and void." Leases not ratified by the board were deemed "voidable, but not

    More >>
Powered by Frankly