OPA Releases Audit on GMHA

by Sabrina Salas Matanane

Guam - The Guam Office of Public Accountability has issued a scathing audit of the Guam Memorial Hospital's Fiscal Year 2011 finances noting the agency experienced the largest loss in over a decade at $28.7 million. The report noted that more than half of GMH's patient revenues came from the 3 M's: Medicare, Medicaid and MIP.  Auditors also report that GMH stopped remitting not only the employer's share, but also employees' share of retirement contributions to the Retirement Fund. Cumulative unpaid retirement contributions including interest and penalties now stand at $15.1 million which is a 69% increase from FY2010.  The report also states that employee income tax withholdings of $6.4million were unpaid as of September 30, 2011 which incurred interest and penalties of $585K due to nonpayment of withholding taxes. You can read the audit in its entirety at guamopa.org