FY13 financial detailed - KUAM.com-KUAM News: On Air. Online. On Demand.

FY13 financial detailed

Posted: Updated:
 by Sabrina Salas Matanane

Guam - The Guam Office of Public Accountability released the results of an audit into the Government of Guam’s fiscal year 2013 financials. According to the findings Govguam, which is a billion-dollar entity, ended FY13 with a $2.3 million surplus. According to a release from Adelup, the Calvo Tenorio administration eliminated the two-decade old deficit in Fiscal Year 2012 and the audit of how the government collected and spent your money in FY2013 confirms no total deficit for another year. The audit released today however also noted that although there were record high revenues reported at $610 million, operating expenditures net of transfers amounted to $659 million resulting in over expenditures of $48 million. The OPA cautioned GovGuam to be diligent in its spending and to live within its expected revenues. The OPA also recommended significant investments in technology to include new Financial Management Information Systems to provide regular, current and reliable information as to the state of the condition of the government.

  • NEWS HEADLINESMore>>

  • Terlaje's bill bans automatic mods for firearms

    Terlaje's bill bans automatic mods for firearms

    Senators entertained testimony on a bill meant to prevent a school shooting tragedy locally. The measure by Vice-Speaker Therese Terlaje bans so-called "bump stock" firearm attachments that can increase firing rates to mimic automatic capabilities. The biMore >>
    Senators entertained testimony on a bill meant to prevent a school shooting tragedy locally. The measure by Vice-Speaker Therese Terlaje bans so-called "bump stock" firearm attachments that can increase firing rates to mimic automatic capabilities. The biMore >>
  • Book of regional poetry & art launching on April 21

    Book of regional poetry & art launching on April 21

    The local, nonprofit group Ta Tuge' Mo'na will launch the book, "Kinalamten Gi Pasifuku," at 4 p.m., April 21 at Ture' Café in East Hagatna. The new book is an anthology of poems, prose and art from across Oceania. It's the first publication from tMore >>
    The local, nonprofit group Ta Tuge' Mo'na will launch the book, "Kinalamten Gi Pasifuku," at 4 p.m., April 21 at Ture' Café in East Hagatna. The new book is an anthology of poems, prose and art from across Oceania. It's the first publication from tMore >>
  • Conference findings presented to policymakers

    Conference findings presented to policymakers

    After two days of discussion and developing solutions, Pacific NGO leaders of the 8th Annual Micronesia Non-Profit Congress met with Guam policymakers to present the compiled from their conference. Pacific Islands Forum Secretariat Adviser Penisoni NaupotMore >>
    After two days of discussion and developing solutions, Pacific NGO leaders of the 8th Annual Micronesia Non-Profit Congress met with Guam policymakers to present the compiled from their conference. Pacific Islands Forum Secretariat Adviser Penisoni NaupotMore >>
Powered by Frankly