$535 Million 2011 Budget Bill To Be Voted On This Afternoon

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Guam – Guam lawmakers will vote on the 2011 GovGuam Budget this afternoon [Friday] during a Legislative Session that begins at 2 pm.

The 2011 Budget calls for spending $535 million dollars.

Earlier this week, Appropriations Committee Chairman Senator Ben Pangelinan warned that revenue collections are falling short of what’s needed. “The gap,” he said, “between the budget of the Executive Department and the projected revenues was approximately $51.5 million.”

He warned that there is not enough money coming in to pay for the amount of funds requested by GovGuam agencies.

Pangelinan called on GovGuam to “hold the line on expenditures,” in light of the falling revenue collections.

Pangelinan also said that within the 2011 Budget additional funds have been given to the Department of Revenue and taxation to “beef up” their collection effort so they can collect more money for GovGuam.

The Senator said that 10% of the re-imbursement from the Additional Child Tax Credit [ACTC} will be set aside for Rev & Tax to hire more personnel and boost compenstation for some employees.

Rev & Tax Director Art Ilagan has been crying out for additional funds for years.

The Budget must be transmitted to the Governor by next Tuesday, August 31.