Guam § 14113 - Accounting and Expenditures.
Full text of Guam Guam Code Annotated § 14113 — Accounting and Expenditures., with citation guidance and answers to common questions.
§ 14113. Accounting and Expenditures.
(a) The Board shall adopt and maintain a system of accounting.
(b) The Board shall authorize, by means of the annual budget, payment of demands against the
Authority resulting from the exercise of its powers under this Act if:
(1) the purposes and amounts of such demands are projected in the budget, expressed in terms of
major account groups of the Uniform System of Accounts, which has been adopted by the Board after
receiving recommendations from the General Manager; and
(2) if the specific demands which are made are approved by the Board before payment.
(c) The Board shall employ, in accordance with the appropriate procurement laws and the annual
budget, a firm of locally licensed, independent Certified Public Accountants who shall annually examine
the financial status and workings of the Authority for the previous fiscal year. Said firm shall submit to I
Maga’hågan/Maga’låhen Guåhan, the General Manager and I Liheslaturan Guåhan, no later than February
1st of each year, a written report on the financial status and workings of the Authority during the previous
fiscal year. The Board shall provide said report to I Maga’hågan/Maga’låhen Guåhan and I Liheslaturan
Guåhan. I Maga’hågan/Maga’låhen Guåhan may request special reports within thirty (30) days after the
end of each fiscal quarter. The financial information presented in the reports required by this Section shall
be in accordance with the Uniform System of Accounts adopted by the Board.
Claims against the Guam Waterworks Authority shall be submitted to the Attorney General of Guam in
accordance with the Government Claims Act.
Frequently Asked Questions About Guam § 14113
What does Guam Code Annotated § 14113 cover?
Section 14113 ("Accounting and Expenditures.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 14113?
A common citation format is "Guam Code Annotated § 14113" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 14113 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.