Sen. Karl King-Nabors presides over a meeting on Monday of the Senate Special Committee on the $225 million in American Rescue Plan Act funds deposited in the Bank of Guam.
THE Senate Special Committee to investigate the $225 million in American Rescue Plan Act funds deposited in the Bank of Guam voted to subpoena CNMI Treasurer Asuncion S. Agulto on Monday.
Chaired by Sen. Karl King-Nabors, the special committee that Senate President Edith Deleon Guerrero created in April is also looking into the CNMI government’s ARPA fund spending plan.
Also present in the meeting on Monday were Senate Floor Leader Corina Magofna and Sen. Jude Hofschneider. Sen. Dennis Mendiola was excused.
Assisting the committee are Senate legal counsel Jose Bermudes, Senate fiscal analyst Dave Demapan and legislative assistants Jolyn Tagabuel and Devin Macaranas.
The committee adopted the rules for the investigation proceedings before Magofna moved to subpoena Agulto.
Earlier this year, the Senate president made a Freedom of Information Act and Open Government Act request to the Department of Finance regarding any information about the trust account that was opened by the previous administration using ARPA funds in the amount of $225 million. The Senate president said it was important to know which funds are still available to provide necessary services to the people.
King-Nabors cited all the Senate communications pertaining to inquiries regarding the administration’s handling of ARPA funds. He also cited the responses from the Finance secretary, but those that contain confidential information could not be released to the public.
He also noted that the bank’s attorney, Robert Torres, has told the Senate president that bank account information and related records are not public records.
In April, Finance Secretary Tracy B. Norita said the ARPA funds were deposited in the Bank of Guam in 2021 but were depleted in 2022.
King-Nabors said the Senate president wrote Norita a letter on April 19, 2024, seeking her cooperation by providing a written authorization for the bank to release requested documents. However, he said, “no response has been received” from the Finance secretary.
Since the special committee was created, he said they have reviewed all the documents provided by Finance.
King-Nabors said they are now in a position to bring in several witnesses for questioning. It is the duty of the committee to find out whether or not the ARPA funds awarded to the CNMI have been spent accordingly.
The CNMI received close to $500 million in ARPA funds.
