Auditors identify weaknesses with CLTC - KUAM.com-KUAM News: On Air. Online. On Demand.

Auditors identify weaknesses with CLTC

Posted: Updated:
 by Ken Quintanilla

Guam - The Chamorro Land Trust Commission may have seen an increase in its net income for Fiscal Year 2013 and received a clean audit, but according to auditors they identified five repeat material weaknesses.

According to the Guam Office of Public Accountability those material weaknesses included the lack of a formal accounting system; lack of monitoring of leases, royalties and loan guarantees; the lack of accounts receivables follow up and collection; and the lack of a formal rental lease agreement. You can read the audit at OPAGuam.org.

  • NEWS HEADLINESMore>>

  • American Red Cross Red Ball celebrates "Arc Angels"

    American Red Cross Red Ball celebrates "Arc Angels"

    The crowd showing up for the annual Red Ball event held at the Dusit Thani Resort in Tumon on Saturday.This year's theme was Arc Angels, celebrating the angels in our community. Attendees coming together to celebrate and support all that the American RedMore >>
    The crowd showing up for the annual Red Ball event held at the Dusit Thani Resort in Tumon on Saturday.This year's theme was Arc Angels, celebrating the angels in our community. Attendees coming together to celebrate and support all that the American Red More >>
  • Calvo officially requests for disaster declaration

    Calvo officially requests for disaster declaration

    Gov. Eddie Calvo has sent his official request to President Donald Trump for a major disaster declaration. He is asking that the entire territory be made eligible for public assistance, individual assistance and the Hazard mitigation grant program. CalvoMore >>
    Gov. Eddie Calvo has sent his official request to President Donald Trump for a major disaster declaration. He is asking that the entire territory be made eligible for public assistance, individual assistance and the Hazard mitigation grant program. Calvo More >>
  • Trial pushed back again for prison murder

    Trial pushed back again for prison murder

    Trial is pushed back yet again for the defendants charged in connection to last year's murder at the Department of Corrections. As reported, Edrite "Manson" Isar was found dead in his jail cell at the Hagatna lockup. Though it was initially believed he diMore >>
    Trial is pushed back yet again for the defendants charged in connection to last year's murder at the Department of Corrections. As reported, Edrite "Manson" Isar was found dead in his jail cell at the Hagatna lockup. Though it was initially believed he diMore >>
Powered by Frankly