OPA: Low “Performeter” Score Means GovGuam “Continues to Spend More Than It Takes In”

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Guam – GovGuam has received a low score of  2.81 out of 10 on its most recent Performeter report released by the Office of Public Accountability. 

The Performeter is an analysis of a government’s financial statements. Its used to measure government financial performance. It was conducted by Crawford & Associates for DOI’s Office of Insular Affairs.

2.81 is Guam’s highest score in eight years,  but it is still the lowest score among the eight insular areas analyzed.

The Performeter uses 12 individual ratios to identify financial warning signals and provides an overall rating as a collective benchmark of a government’s success as a whole.

READ the OPA’s Highlights of the Performeter report HERE

In FY 2012, GovGuam received 10 unfavorable ratings out of the 12 ratios and an unfavorable overall rating, indicating the continued deterioration of its financial condition.

Public Auditor Doris Flores Brooks told PNC News that the low score means that GovGuam “continues to spend more than what we have taken in”

 

Prior Year Performeter Scores for GovGuam

2012      2011      2010    2009    2008    2007    2006    2005    2004    2003
2.81       2.73       1.27     1.30     1.31     2.66     1.32     1.70     2.86     2.21

VIEW the Power Point presentation of GovGuam’s Performeter analysis HERE

The report blames the relatively unfavorable rating on GovGuam’s cumulative deficit of  about $194.2 million.

However the report credits the slight increase in last year’s score to:

*the slight reduction in the overall deficit of the government
* an improvement in the operational deficit of the General Fund due to bond proceeds of $352.7M
* the implementation of Government Accounting Standards Board Statement No. 54 (GASB 54) 

 

 

 

 

 

GovGuam has received a score of 2.81 on the most recent Performeter report released by the Office of Public Accountability.

2.81 is Guam’s highest score in eight years,  but it is still the lowest score among the eight insular areas analyzed.

The Performeter is an analysis of a government’s financial statements. Its used to measure government financial performance. It was conducted by Crawford & Associates for the DOI’s Office of Insular Affairs.

The report blames the relatively un-favorable rating on GovGuam’s cumulative deficit of  about $194 million.