Guam § 22203 - Duties of Director.

§ 22203. Duties of Director.

The Director shall, with due regard for the function of

the specific agencies concerned, organize and operate the

accounting system on a fund basis with a self-balancing set

of accounts, recording cash and/or other resources together

with all related liabilities, obligations, reserves and equities

which are segregated for the purpose of carrying on specific

activities or attaining certain objectives; establish an

accounting system which provides budgetary control over

general governmental revenues and expenditures; determine

fairly and with full disclosure the financial position and

results of financial operations; show that all applicable legal

provisions have been complied with; establish various types

of funds as are necessary and as required by law; shall

account in the General Fund all financial transactions not

properly accounted for in another fund; shall account in the

Special Revenue Funds all proceeds of specific revenue

sources or to finance specific activities as required by law;

shall account in the capital improvements funds all receipts

and disbursements of monies used for the acquisition of

capital facilities; shall account in other funds consistent with

legal and operating requirements; classify accounts to insure

compliance with budgetary provisions; provide a basis for

financial and administrative control, furnish data required

for financial statements and provide a basis for comparison

with similar data for other periods, etc.; establish standards,

procedures and techniques for a central accounting system;

conduct a continuing review of all accounting operations to

effect improvements in accordance with current accounting

practices; establish standards for the preparation of financial

statements and other reports as are necessary; maintain all

Federal grant award funds including maintenance of

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encumbrance and expenditure; and obtain reports from all

departments and agencies as are required for the effective

administration of a central accounting system; and take all

actions necessary to ensure that an adequate public education

is available to every public school student.