VIDEO: New Administration Unsure of Exact Financial Condition

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Guam – The Governor’s Director of Communications Troy Torres says that Gov Guam employees received Hay study recommended increases Friday. While the hay study raises are one of many financial obligations that the new administration is striving to get a handle on, apparently the new administration is not sure of their financial position yet.

 

 “The Hay Study’s been implemented and should be reflected in their paychecks today,” said Torres.

PNC asked, “So today will be the first set of paychecks that are implementing the pay raises that are called for in the hay study?”

Torres replied saying, “Yes, according to the DOA director.”

 The implementation of the Hay study is one that costs Gov Guam a lot of money. It’s a new financial obligation added to the list of obligations that the new administration has to deal with. After a week in office the new administration is not sure yet of what their actual financial position is. “Our fiscal team is trying to get a full assessment their collecting all of the information it’s a lot of information that needs to be collected to figure out the government’s cash position based on all it’s obligations and it’s liabilities that happen from day to day week to week and month to month,” explained Torres.

 Torres says they should have more information by next week sometime. As for this week they are still unsure of the exact amount of money collected for the months of November and December. The Camacho Administration had previously announced that collections for both November and December had exceeded expectations and were in fact higher than projected. This is something that the Calvo financial team is still working on confirming. “Bernie Artero the governor’s chief fiscal adviser is working together she’s leading the financial team along with Hener Deliquina our Director of Administration Benita Manglona the BBMR director the budget director and John Camacho the Rev&Tax director,” said Torres.

 The director of communications adds that there is a lot of information including obligations and liabilities that still needs to be compiled properly in order to get an accurate picture of the government’s true financial condition.