Fiscal Authority

(a)For each fiscal year there is authorized to be appropriated as part of the executive budget, money in the ‘Tourist Attraction Fund’, such sums as may be necessary for the Bureau to carry out the provisions of this Article. Such appropriations shall be governed by the Executive Budget Act set forth in Chapter III of Title VI of the Government Code of Guam.

(b)All funds appropriated to the Bureau by the Government of Guam shall be considered grants in aid. No disbursement of funds of the Bureau shall be made unless the same has been approved, authorized and ordered by the Board of Directors.

(c)The Legislature may condition payment of any sums appropriated pursuant to sub-section

(a)of this section upon requirements that the membership match the appropriated funds, with cash or in-kind contributions, on the basis of not more than twenty cents

(204)for every eighty cents

(804)so appropriated. COL9/7/2021 CH. 9 GUAM VISITORS BUREAU

(d)As a condition to receiving any funds appropriated to the Bureau by I Liheslaturan Guåhan or borrowed pursuant to § 9105(n), the Bureau shall agree to abide by the off-Guam travel rates and regulations applicable to government of Guam employees, and shall allow an audit of all the Bureau’s funds and matching cash, and in-kind contributions of its membership by the Public Auditor as authorized by Chapter 19 of Title 12 of the Guam Code Annotated, as amended by § 59 of Public Law Number 26-76. Should the audit reveal any discrepancies or violations of law or of the Bureau’s rules and regulations or policies, then the Board shall take steps to correct the discrepancies and to recover any expenditures not made in accordance with existing laws, rules, regulations or policies. The Public Auditor shall provide a copy of any audit conducted pursuant to this Subsection to the Attorney General. Upon the enactment of this Subsection, an audit of the Bureau shall be conducted for prior fiscal years.