Special Fund Transfer

Unless otherwise specified in the Annual or Supplemental Budget Act, I Maga’låhen Guåhan is authorized to transfer to the General Fund any cash available from any appropriated Special Fund to fund the appropriations authorized by the Annual or Supplemental Budget Act. All cash amounts from Special Funds transferred to cover the appropriations authorized by the Annual or Supplemental Budget Act, or any other act or law authorizing appropriations, shall be promptly reimbursed to the Special Fund from which it was withdrawn within sixty

(60)days after receipt of transferred cash amounts by the General Fund. I Maga’låhen Guåhan shall submit a report to the Speaker of I Liheslaturan Guåhan on the fifth

(5th)day of every month on all transfers and reimbursements made pursuant to this Section. Said report shall enumerate the amount of each transfer, identify the funds to and from which the transfer was made, the object class reduced by the transfer out and the object class receiving the transfer, and state the purpose of each transfer. Notwithstanding any other provision of law, no funds shall be transferred out of the Chamorro Land Trust Operations Fund and the Guam Department of Education Operations Fund from each fiscal year Special Fund appropriations made to the Guam Department of Education and the Chamorro Land Trust Commission. Failure to submit any reports by the required deadline in this Section shall result in a Two Hundred Fifty Dollars ($250.00) fine per missed deadline for the Director of the Bureau of Budget and Management COL1312018 CH. 4 PROGRAM BUDGETING AND FINANCIAL MANAGEMENT Research, which shall be deposited into the GDOE Interscholastic Sports Program.