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>>

  • Committee dismisses ethics complaint against Senator Esteves

    Committee dismisses ethics complaint against Senator Esteves

    The Legislative Ethics Committee has dismissed the complaint against Senator Fernando Esteves, and says it considers the matter closed. Resident Barry Mead filed the complaint against Esteves for his role in a protest earlier this year against the live fire training range at Andersen Air Force Base's Northwest Field.  

    More >>

    The Legislative Ethics Committee has dismissed the complaint against Senator Fernando Esteves, and says it considers the matter closed. Resident Barry Mead filed the complaint against Esteves for his role in a protest earlier this year against the live fire training range at Andersen Air Force Base's Northwest Field.  

    More >>
  • Eco-preservation discussed at Marianas Terrestrial Conservation Conference

    Eco-preservation discussed at Marianas Terrestrial Conservation Conference

    Guam's jungles are often said to be silent, as brown tree snakes kill off our native birds. Visiting and local students attended GCC's first annual Marianas Terrestrial Conservation Conference to speak up about their eco-preservation projects.

    More >>

    Guam's jungles are often said to be silent, as brown tree snakes kill off our native birds. Visiting and local students attended GCC's first annual Marianas Terrestrial Conservation Conference to speak up about their eco-preservation projects.

    More >>
  • Man awarded $775,000 for reporting fraud

    Man awarded $775,000 for reporting fraud

    A whistleblower in a multi-million dollar federal government false claims case received the maximum award possible for his help in unraveling the fraud.  William Toelkes was granted 25% of the $3.1 million settlement against Japanese construction company TOA corporation.  According to court documents, "TOA created a sham joint venture with a much smaller American entity" that enabled it to win a large wharf construction contract at the Naval Station Guam.  To...More >>
    A whistleblower in a multi-million dollar federal government false claims case received the maximum award possible for his help in unraveling the fraud.  William Toelkes was granted 25% of the $3.1 million settlement against Japanese construction company TOA corporation.  According to court documents, "TOA created a sham joint venture with a much smaller American entity" that enabled it to win a large wharf construction contract at the Naval Station Guam.  To...More >>
Powered by Frankly