GovGuam Short $10.7 Million In Revenues But BBMR Believes Surplus Still Possible

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GovGuam is behind in revenue collections currently but the administration still believes they are on track to collect more money in total at the end of the year than expected.

Guam – Revenues for the month of April were short by about $5.58 million dollars and overall collections are short by $10.7 million according to BBMR’s Consolidated Revenue and Expenditure Report or CRER. However, also according to the same report GovGuam is still on track to collect about a million dollars more than what it predicted or projected by the end of the fiscal year.

 

 GovGuam is behind in revenue collections currently but the administration still believes they are on track to collect more money in total at the end of the year than expected.

 According to the latest CRER in April GovGuam was supposed to have collected $107.8 million but instead only collected $102.3 million which is a shortfall of $5.5 million.

 In fact according to the same report which is produced by the Governor’s Bureau of Budget Management and Research Office or BBMR, GovGuam is behind a total of $10.7 million in revenues year to date.

 However the Governor’s office is quick to point out that their office is tracking or expecting to collect more revenue at the end of the fiscal year than what was budgeted.

 According to the CRER report GovGuam is tracking revenues for this fiscal year at $826.263 million which is about $1.26 million more than the adopted revenue of $826.998 million.

 

 The administration also points out that revenues year to date for this fiscal year are $4 million dollars higher than last fiscal year.