GCC increases assets
Guam - The Office of Public Accountability reports the Guam Community College closed FY2012 with a $2.3 million increase in net assets, which is a significant decrease of 73% or $6.2 million from the previous fiscal year. According to an audit out today, this was mainly due to decreases in federal stimulus money and other federal grants, and due to increases in operating expenses, notably in scholarships and fellowships and institutional support. The OPA commended GCC for once against maintaining a low risk status for the 12th consecutive years. GCC is the only agency of GovGuam to hold such a designation.