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Audit reveals millions in unclaimed federal funds

June 10, 2024 | Infrastructure, Economic Development, Simon Sanchez High School, Disablity Services, Self-Determination and Historic Preservation, Housing, Public Accountability, and the Guam Buildup , Legislative, Guam



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This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »

Audit reveals millions in unclaimed federal funds
In a recent government meeting, officials discussed significant financial discrepancies related to unrebursed funds from the general fund, totaling approximately $44 million. This figure includes $34 million identified in a FEMA report, alongside an additional $8.4 million that remains unreimbursed.

A substantial portion of the unreimbursed funds—around $7.8 million—was allocated for Homeland Security operations under the Emergency Management Grant Program (EMPG) and the Homeland Security Grant Program (HSGP). Notably, $6.3 million of this amount pertains to grants that expired between 2019 and 2023, with the original grants being awarded in 2018, 2019, and 2020.

The meeting highlighted that the general fund had spent $910,000 more than the total awarded for eight expired grants, raising concerns about financial oversight. This situation aligns with findings from an internal audit conducted by the Department of Administration in October 2022, which pointed out a lack of internal controls over expenditures and insufficient budget monitoring.

Officials emphasized the need for improved financial management practices to prevent future discrepancies and ensure accountability in the use of public funds.

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