Hagåtña, Guam – The Leon Guerrero-Tenorio Administration proudly announces a general fund surplus for the fiscal year ending September 30, 2023, marking the fifth consecutive year of surplus under this administration. Unaudited financial statements point to a surplus of $28.9 million from total revenues of $934 million. This achievement highlights the continued effectiveness of sound fiscal management and responsible budgeting.
The majority of this surplus has been allocated through legislative appropriations enacted after the original budget cycle, resulting in $24.5 million marked as “committed” within the General Fund Balance for future expenditures.
Governor Lou Leon Guerrero stated, “This surplus is a testament to our administration’s disciplined fiscal strategy and commitment to safeguarding Guam’s financial future. Each year, we prioritize stability and accountability, ensuring that taxpayer dollars serve the long-term well-being of our people.”
Lieutenant Governor Josh Tenorio added, “With five years of consistent surpluses, we continue strengthening Guam’s economy and building a solid foundation for future generations. Our fiscal policies have produced results that reflect our dedication to responsible governance.”
The finalization of the audited financial statements and the report on compliance for the year ending September 30, 2023, continues to be delayed by the late submission of the audit by the Guam Department of Education.
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