University of Guam finances in peril over $21M allotment shortfall

University of Guam payroll and financial aid to students are now at risk because of the Calvo administration’s failure to remit a record $21 million, which is more than half of what the educational institution is supposed to receive for the fiscal year that is ending next month.

Jonas D. Macapinlac, the university director for integrated marketing communications, confirmed Thursday that the institution “is now $21 million behind in its cash allotment from GovGuam.”

“To date, UOG has received only $18.7 million or 47 percent of its total budget in FY 2016 with just one month left in the fiscal year,” Macapinlac told Pacific Daily News.

This means the university has yet to get 53 percent of its $39.7 million budget that the Legislature and Gov. Eddie Calvo approved for 2016. The fiscal year is ending on Sept. 30.

Read more: http://www.guampdn.com/story/news/2016/08/28/uog-finances-peril-over-21m-allotment-shortfall/89324424/