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Committee hears BBMR: May revenue tracking shows roughly $55M above FY25 adopted levels, $31.3M net after adjustments
Summary
BBMR and DOA told the committee the May consolidated revenue report shows the general fund about $55 million above adopted FY25 levels and roughly $31.3 million ahead after recent appropriations and special‑fund shortfalls.
At the July 3 special economic session, Lester Carlson of the Bureau of Budget and Management (BBMR), appearing also on behalf of the Department of Administration (DOA), said the May consolidated revenue and expenditure report (CRER) shows the general fund is about $55,000,000 over the FY25 adopted level. "Our revenue tracking for the general fund is just north of $55,000,000 over the adopted level for FY 25," Carlson told the committee.
Carlson said that after netting appropriations the Legislature had passed (including funds for behavioral health, the Jamal Land Trust and the University of Guam) and accounting for special-fund shortfalls (Guam Education Facilities Fund, Healthy Future Fund and the Tourist Attraction Fund), the net position stood at $31,292,068 ahead of adopted general-fund levels. He noted the May CRER does not reflect collections for June through September: if those months meet or exceed projections, the positive variance would increase.
Marie Lizama of the Department of Revenue and Taxation (DRT) and BBMR staff described the assumptions behind FY26 projections. BBMR said it used three‑year averages for categories such as individual income tax, corporate tax, withholding, and the business privilege tax and incorporated a 4.5 percent wage increase for members of the armed forces into Section 30 receipts. BBMR said those methods informed the executive budget request and left the agency "feeling pretty comfortable with the numbers" submitted in January.
Committee members asked for supporting detail and cautioned that the May CRER is an interim snapshot. Several senators and agency officials emphasized the importance of audited data and noted that audited FY24 government‑wide results will not be fully available before the committee completes FY26 deliberations; Public Auditor BJ Cruz said DOE audit work is still delayed and the government‑wide audit may not be ready until January. The chair and BBMR reiterated that the May numbers are operationally useful but subject to later audit adjustments, and that June–September activity could materially affect final FY25 totals.
Looking ahead, BBMR said the tracking data will inform cash‑management decisions and the FY26 budget, but recommended caution when treating unaudited excess as fully available for new recurring appropriations.
