Guam Receives Two Grants from Office of Insular Affairs for Financial Management Improvement
(WASHINGTON, D.C., April 19, 2005) The Government of Guam will receive two grants totaling $390,000 from the Department of the Interior's Office of Insular Affairs to help improve financial management.
The Department of Administration and the Department of Revenue and Taxation will share $290,000 to help them implement new goals for a financial management improvement plan. The Department of Administration will also receive $100,000 to seek assistance to resolve longstanding accounting problems.
"These grants are a reflection of the Department of the Interior's commitment to ensure that the Government of Guam has the ability to bring its financial management and accounting procedures up higher standards," said Deputy Assistant Secretary of the Interior David B. Cohen.
The funds come from the Office of Insular Affairs Technical Assistance program, which generally is designed to help insular area governments address critical needs for which funding is not otherwise available