Guam – The Guam Department Of Education remains optimistic that its federal counterpart will extend the deadline to obligate federal funds for Capital Improvement Projects.
With the fiscal year only two months away DOE the extension request is still under review.
DOE this morning however did receive word that another request to extend the Education Stabilization Grant expenditures was awarded. This gives DOE until the end of the first quarter of 2013 to spend about $537,000. ESF grant helps cover the expense of the Tyler Munis Financial Management Information System and the 3rd Party Fiduciary Agent.
The CIP dollars and the Education Stabilization Funds all come from the same pool of money the $60 Million dollars in ARRA Funds that last year were turned into trust dollars to keep the funds from expiring at that time.
Of the $60 Million Taitano says $4.1 Million has been expended, $17.8 Million has been encumbered and $36.2 Million is currently in the procurement process.