Purpose and Expenditures

The Rainy Day Fund shall be expended by appropriation by law for the following purposes: COL4/6/2022 CH. 22 GENERAL FISCAL POLICIES AND CONTROLS

(a)eliminating or reducing any General Fund deficit existing at the end of a fiscal year substantially resulting from an unexpected, substantial decline in revenues received or due to the General Fund; or

(b)for expenses caused by a Guam emergency. No monies can be transferred from the Rainy Day Fund by the Governor pursuant to her transfer authority.