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U.S. Department of the Interior - Office of Insular Affairs
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Guam Receives $100,000 from Office of Insular Affairs to Improve Government Accounting and Financial Reporting



FOR FURTHER INFORMATION
PLEASE CONTACT: Keith Parsky 202-208-4070

(WASHINGTON, D.C., January 31, 2005) Guam will receive a grant in the amount of $100,000 from the Department of the Interior's Office of Insular Affairs to retain expert assistance to resolve long-standing accounting and financial reporting issues.

 "These funds will help improve the quality and timeliness of Guam's financial statements," said Deputy Assistant Secretary of the Interior David B. Cohen.  "We are pleased to support the government's efforts to improve its ability to account for public funds."

The Office of Insular Affairs works with all the insular area governments to improve financial management practices and accountability for federal funds. The grant will be funded through the Office of Insular Affairs' Technical Assistance Program, which is designed to be responsive to the current needs of the insular areas.