Vice-Speaker Cruz Questions Revenues Recorded For April

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Cruz writes that he will continue to scrutinize monthly revenue reports as the budget season continues and with the looming cumulative general fund deficit of nearly $85 million dollars.

Guam – Vice-Speaker B.J. Cruz is questioning the reported revenues for the month of April.

 

 

 Although the reported revenues already show a shortfall of $5.5 million dollars for the month of April, Cruz is concerned that the shortfall may be higher. The Vice-Speaker has written a letter to the Department of Administration Director Christine Baleto asking her to explain whether GovGuam’s recognition of $9.3 million dollars in witholding revenues for April is actual cash or just a paper entry “used to improve the appearance of the most recent consolidated revenue and expenditure’s report.” In a release Cruz writes that he will continue to scrutinize monthly revenue reports as the budget season continues and with the looming cumulative general fund deficit of nearly $85 million dollars. A deficit he says is the highest since before the tax refund bond was issued.