OPA audits Ancestral Lands Commission - KUAM.com-KUAM News: On Air. Online. On Demand.

OPA audits Ancestral Lands Commission

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 by Ken Quintanilla

Guam - A day after releasing a financial audit on the Chamorro Land Trust Commission, the Office of Public Accountability has issued another this time on the Guam Ancestral Lands Commission. The GALC received an unmodified clean opinion from independent auditors Deloitte & Touche. The commission further closed fiscal year 2012 with an increase in net income of $733,000 over the previous fiscal year. Like the CLTC, this is the also the first financial audit completed for the commission. The audit notes that GALC has faced challenges in establishing the land bank rules and regulations, access and zoning of properties returns, and funding.  They note without the land bank rules and regs, GALC has yet to start the just compensation to families who will not benefit from returned ancestral property - $2 million of which is awaiting distribution. The OPA further recommended GALC implement a formal accounting system and establish policies regarding collection of receivables.

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