Pangelinan: Governor’s Spending Plan Exceeds Projected Revenues By $51.5 Million

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Guam – The Legislature’s Appropriations Committee Chairman Senator Ben Pangelinan says that the Governor’s 2011 spending plan falls $51.5 million dollars short of projected revenues.

In a release, Senator Pangelinan states that the “gap between the budget of the Executive Department and the projected revenues was approximately $51.5 million.”

He says “the projected revenues adopted for the General Fund is  $535 million and Special Funds $149 million.”

Adding that that gap doesn’t even take into consideration “the expenditure gap between the semi-autonomous agencies and the budget submittal.” The semi-autonomus agencies have requested “an  additional $100 million,” he says.

In the release, Pangeklinan also states: 

“The General Fund cannot sustain the level of growth requested by the departments and agencies for FY 2011. The Committee on Appropriations’ task  of reconciling the budget submittal of line and semi-autonomous agencies in light of projected revenues was daunting. The main concerns of the Committee were to ensure our debts are paid for and jobs are preserved. With other state and local governments resorting to furloughs, Guam is very fortunate that jobs are preserved.

The Senator is calling on GovGuam agencies to “hold the line on expenditures in light of current revenue collections and the FY11 projections.”

The Legislature is meeting this week to working on the FY 2011 expenditure plan, which must be transmitted to the Governor by August 31.