GALC receives clean audit opinion for FY2023, but no properties returned

The Guam Ancestral Lands Commission received a clean audit opinion for Fiscal Year 2023, but auditors also flagged concerns involving internal controls and staffing challenges.

Independent auditors Ernst & Young issued an unmodified, or “clean,” opinion on the GALC’s financial statements for the fiscal year ending September 30, 2023.

The commission closed the year with a net increase of $1.1 million — bringing its total fund balance to $16M, up from $15.5M the year prior.

Revenues rose by $167,000, largely due to higher base rent and investment income.

At the same time, total expenditures decreased by $33,000, reflecting lower costs in areas such as fringe benefits and contractual services.

However, auditors issued a management letter citing a deficiency in internal controls –  specifically a lack of segregation of duties in financial reporting processes, which increases the risk of undetected errors or misappropriation of funds.

The report also highlights ongoing operational challenges. 

The Landowners Recovery Fund remains unfunded, staffing shortages persist, and no property was returned during Fiscal Year 2023. 

The total acreage returned to date remains at just over 2,643 acres.