5 Guam Code Ann. § 22507
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Terms Used In 5 Guam Code Ann. § 22507
- 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.
(a) Each government agency shall file with the Legislature a detailed report of any interest penalty payments made pursuant to this Article during the preceding fiscal year.
(b) The report required by Subsection (a) of this Section shall include the number, accounts, frequency of interest penalty payments and the reasons such payments were not avoided by prompt payment and shall be delivered to the Legislature within sixty (60) days after the conclusion of each fiscal year.
(c) The Director of the Department of Administration shall submit a report to the Legislature on government agency compliance with the requirements of this Article within one hundred twenty (120) days after the conclusion of each fiscal year.
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ARTICLE 6
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