5 Guam Code Ann. § 22303
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Terms Used In 5 Guam Code Ann. § 22303
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
(a) All Federal funds shall be deposited in and credited to the General Fund account and be available for appropriation by the Legislature as part of the Guam’s operating budget; furthermore, detailed and accurate accounting records shall be maintained for such Federal funds.
(b) The provisions of subsection (a), above, shall not apply to those cases where by statutory enactment the Legislature has created a special fund or restricted receipt account and hasspecifically provided thereby for an exclusive, special purpose, or other use of Federal funds so long as such Federal funds are used solely and exclusively for such specific statutory purpose or purposes.
SOURCE: GC § 6802 added by P.L. 14-83:1.
2018 NOTE: References to “”Territory”” removed and/or altered to
“”Guam”” pursuant to 1 Guam Code Ann. § 420.