Guam – The 2011 Budget was the focus of attention during Tuesday afternoon’s legislative session.
Last week the administration issued a new revenue projection for fiscal year 2011. The new revenue projection is $732 million dollars or $30 million dollars less than they predicted in January. In light of this year’s budgetary shortfall, Senator Eddie Calvo, who was the former chairman of the budget, is concerned about getting the revenue projections for 2011 correct.
“If you don’t have an accurate revenue picture then whatever appropriations you make it’s an inaccurate spending plan and if there’s gonna be cuts and you wait to long it’s gonna have a major impact in services to the people of Guam that’s why now you’re seeing a lawsuit at the Department of Corrections for officers and guards that are owed overtime,” said Senator Calvo.
Current Budget Chairman Senator Ben Pangelinan says this is precisely why they have looked hard at the revenue projections and why the projections have been revised.
“We feel pretty good with regards to coming forward with a spending plan based upon revenue projection that’s been looked very thoroughly by all the subject matter experts within the Government of Guam and we’ll move forward on that,” said Pangelinan.
Pangelinan also says that they are also working on revising the government’s spending plan to match the new revenue projections.