Guam – The financial commission providing oversight to the Guam Departmetn of Education’s finances released its report for the first quarter of Fiscal Year 2011 late Tuesday evening.
The Education Financial Supervisory Commission found that DOE’s finances were fairly stable overall but Legislative Chairman for the Committee on Appropriates Senator Ben Pangelinan says a Code C Watch was issued for the Fiscal Year to Date and a Code B Warning was issued for the Month of December.
Pangelinan says the Commission foudn that GDOE had a negative variance report exceeding 10% of the approved budget amount in the Overtime category. While Pangelinan says the EFSC is not necessarily concerned about the unbudgeted over, it is something GDOE will have to resolve on the next budget cycle. The Superintendent will also have to submit a report on how GDOE will do so.