11 Guam Code Ann. § 5204
Terms Used In 11 Guam Code Ann. § 5204
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
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11 Guam Code Ann. FINANCE & TAXATION
CH. 5 GAMING ACTIVITIES
(a) There is hereby created, separate and apart from other funds of the government of Guam, a fund to be known as the Limited Gaming Fund.
(1) All license fees, taxes and penalties collected under this Act shall be deposited in the Fund.
(2) The Fund shall not be commingled with the General Fund, except as indicated herein, shall be kept in a separate bank account, and shall not be used as a pledge of security or as collateral for government loans.
(3) The Director of Administration shall make an itemized quarterly report to I Maga’lahen Guåhan (the Governor of Guam), and I Liheslaturan Guåhan, of the condition of, and a detailed description of all financial activity within, the Fund.
(4) The Director of Administration shall further make an itemized annual report, which shall be made available to the general public.
(b) The Fund shall be used first for the purpose of the administration of this Act, and as otherwise stated herein. No more than five percent of the Fund balance may be expended for this purpose, and funds shall not be expended for personnel costs. Said Fund shall be examined and reported upon by the Director of Administration as required by law.
(c) No claim for the payment of any expense incurred by the Department or any other agency in the administration of this Act, shall be made unless it is against the Fund. No other moneys of the government of Guam shall be used or obligated to pay the expenses of the Department.
(d) Moneys remaining in the Fund, after maintaining the stated reserves for administrative expenses of this Act, are hereby appropriated, and for the purposes of the repair and construction of sports facilities shall continue to be deemed appropriated, annually, in the following manner in each fiscal year:
(1) (A) up to one third (1/3) of the available balance to the Mayors Council of Guam for the repair and construction of village recreational facilities, including community centers, and for the procurement of sports equipment and supplies,
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11 Guam Code Ann. FINANCE & TAXATION
CH. 5 GAMING ACTIVITIES
including, but not limited to, team sponsorships and uniforms.
(B) Funds may also be used to purchase equipment required to support community programs administered by village Mayors;
(2) up to one third (1/3) of the available balance to the Department of Parks and Recreation for the repair and construction of its facilities, and for the procurement of sports equipment and supplies;
(3) up to one third (1/3) of the available balance to the Department of Education for the repair and construction of its sports facilities, and for the procurement of sports equipment and supplies; and
(4) No more than fifty percent (50%) of the amount authorized in Item (1), twenty percent (20%) of the amount authorized in Item (2), and twenty percent (20%) of the amount authorized in Item (3) of this Subsection, for the repair and construction of village recreational facilities and for the procurement of sports equipment and supplies, may be used for team sponsorships and uniforms.
SOURCE: Added by P.L. 32-060:2 (July 9, 2013). Amended by P.L. 33-009 (Apr. 1, 2015), and P.L. 33-062 (Aug. 24, 2015).
2017 NOTE: Subsection item designations added in subsection (a) pursuant to the authority of 1 Guam Code Ann. § 1606.