Territorial Highway Fund slightly increases
What's more, according to an audit released today by the Guam Office of Public Accountability, THF money is being spent on items that are not for its intended purpose.
By KUAM NewsGuam - Although the Territorial Highway Fund saw a decrease in equity it saw a 3% increase in revenues. What's more, according to an audit released today by the Guam Office of Public Accountability, THF money is being spent on items that are not for its intended purpose.
The THF's two major sources of revenue are derived from liquid fuel taxes and fees on vehicle registration fees and certain licenses. The THF is used primarily to maintain Guam's highways and roadways and implement highway safety plans, programs, projects and provide public transit. According to the audit, a total of $82,000 was used to pay utility costs for Government House, government office and the Manuel Guerrero Building, which were not consistent with the Fund's intent.