Appropriations chairman concerned about budget
Wednesday, February 4th 2015, 3:18 PM ChST
Guam - The chairman of the Committee on Appropriations, Vice Speaker B.J. Cruz is, raising concern over the recently-submitted budget proposal for Fiscal Year 2016. The projected gross revenues for the next fiscal year for the General Fund is pegged at $851.7 million - about 8.6% more than the previous fiscal year.
"In what he transmitted on Saturday night, I note of the $67 million increase in the overall budget, about $53 million of that is going to increase the budgets for executive agencies; $12 million is going to go to paying down the debt service and most of that probably will go to paying for the new Tiyan lease. The balance of $364 million is to be split between DOE, UOG, GCC, the mayors, the Legislature, the Judiciary, the Attorney General, Public Defender. That's hardly enough to be able to take care of anything. If, as he says in his letter, that education is the vehicle by which we can address all the social wills in the society, the $364 million isn't going to be able to cut it," Cruz said.
The vice speaker says he is still waiting for reports from the Department of Administration of the revenue collections for 2014 in order to fully digest the budget.