Guam Budget Submitted To Legislature

admin's picture

Increases for public safety, 8% increase revenue projection

By Cameron Miculka

HAGÅTÑA, Guam (Pacific Daily News, February 2, 2015) – The Bureau of Budget Management and Research Saturday submitted the fiscal 2016 budget to the Guam Legislature.

The budget, which wasn't made available yesterday, increases appropriations for public health and public safety, according to a press release from the governor's office.

The budget anticipates gross revenues of $851.7 million, an increase of about 8.6 percent from the current fiscal year.

According to the release, the bureau's submission carves out $125 million for tax refunds.

Public health appropriations increase by 10.4 percent and funding for public safety increases by 13.3 percent.

In his letter to Speaker Judith Won Pat, D-Inarajan, Gov. Eddie Calvo noted the improvement of the island's credit rating and overall improvement of its financial outlook.

Calvo also noted better tourism numbers, increased infrastructure investments and forward movement by the federal government with the military realignment.

"The budget submitted to you today represents the fruits of labor derived from this upward trend," Calvo wrote.

Because of the projected revenue increase, Calvo wrote, the upcoming fiscal year will give the government a chance to tackle "some longstanding personnel and operational needs."

"We have told the Guam story to the world, and investors, financial analysts and rating agencies have listened," the governor wrote.

Calvo added that he looks forward to collaborating with members of the Legislature to develop and pass a plan for the island's fiscal future.

Rate this article: 
No votes yet

Add new comment