Edith Deleon Guerrero
SENATE President Edith Deleon Guerrero has formed a special committee to investigate the $200 million in American Rescue Plan Act funds that were deposited into Bank of Guam by the previous administration.
She appointed Sen. Karl King-Nabors as chair of the Special Committee on the ARPA Bank of Guam Trust Account and ARPA Spending Plans for CNMI. The vice chair is Senate Floor Leader Corina L. Magofna and the members are Sens. Dennis C. Mendiola and Jude U. Hofschneider.
The special panel will also look into the government’s ARPA expenditures from 2021 to 2024.
The Senate president earlier made an Open Government Act inquiry with the Department of Finance about the ARPA trust fund.
Last week, Finance Secretary Tracy B. Norita said the ARPA funds were deposited in Bank of Guam in 2021 but were depleted in 2022.
In her memorandum last week, Deleon Guerrero said, “Investigation is necessary to conduct an accounting of the ARPA funds held in [a] Bank of Guam Trust Account to determine the expenditures of ARPA funds as proposed in the ARPA spending plans for FY2021 to FY2024.”
The Senate president also appointed Senate legal counsel Jose Bermudes, Senate fiscal analyst David Demapan, legislative assistant Jolyn Tagabuel and Devin Macaranas to assist the special committee, which must submit a report to her within 60 days.
