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All GovGuam Agencies in Compliance with 4th Quarter FY '08 Reporting Requirements |
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January 13, 2009
Governor Felix P. Camacho today commended all government of Guam agencies for their timely compliance with legislative mandates requiring agencies to post quarterly financial reports, staffing patterns and other special reports for public review.
The Office of the Public Auditor today released the "Submission of FY 2008 4th Quarter Financial Reports Pursuant to Public Law 29-19," stating that all government agencies generally complied with reporting requirements and that no penalties have been applied for noncompliance.
"This is yet another accomplishment of this Administration as we strengthen our commitment to financial transparency," Governor Camacho said. "This report demonstrates the leadership within our agencies and our collective mission to provide our people with an open and fair government that is committed to financial accountability and stability."
According to the report released by the Public Auditor, all 59 government agencies submitted one or more of the required formats of quarterly financial reports, staffing patterns, non-appropriated funds reports, non-profit organization activity reports and special reports. In addition, all autonomous agencies have submitted monthly revenue and expenditure reports in all required formats.
In July, 2008, the government of Guam achieved another historic milestone when independent auditors issued an Unqualified Opinion, or "clean" opinion, indicating that all financial statements are free of material misstatements and are in accordance with the Generally Accepted Auditing Principles.
This report also highlighted the progress made in the government's financial accountability and transparency with a $14 million decrease in the government's overall deficit.
"I commend all our agency directors and financial officials for the tremendous accomplishments made this past year," Governor Camacho said. "We have and continue to face many significant challenges today and I thank our hardworking leaders and employees for the work they do to secure this government's transparency and accountability."
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