Guam Chamber of Commerce urges government leaders to exercise fiscal prudence
The government of Guam has accumulated surplus funding, and the heat is on among our elected officials regarding how to spend these excess funds. This should present an opportunity to address longstanding issues and improve the overall quality of life on the island.
A prudent and strategic allocation of these funds can ensure immediate needs are met while fostering sustainable development. Key areas of focus should include freezing government salaries. With the whopping 22 percent across-the-board salary increase of 2023 for government employees, the focus should be prioritizing public health, public safety, and public education.
Additionally, there should be a consideration in providing rebates to individual taxpayers who pay their fair share of taxes. Excess funds should also address infrastructure issues. This approach aims to balance fiscal responsibility with impactful investments in the community.
One of the first steps in responsibly managing surplus funds is to implement a freeze on government budgets, particularly new salary adjustments. While public servants play a crucial role in the functioning of the island, a salary freeze can help redirect funds to more urgent and broad-reaching needs without compromising essential services.
This measure is not intended to diminish the value of government employees but rather to ensure that the surplus is utilized in a manner that benefits the larger population.
Additionally, this step demonstrates fiscal prudence and a commitment to prioritizing critical sectors during times of surplus. That said, all directors can still work within their budgets and staffing patterns to provide “adjustments” as they deem necessary, provided all other operating expenses are covered. In other words, stay within your budget.
Education is a powerful tool for long-term improvements in our island community. By channeling surplus funds into the education of our youth, the government can ensure that future generations are well-equipped to contribute to the island’s development.
This includes investing in and maintaining school infrastructure and facilities, investing in teacher training, and providing students with access to modern technology and educational resources.
School-to-work programs, vocational education as well as internships and apprenticeship programs should be expanded to ensure that higher education is accessible to all, fostering a more educated and capable workforce.
Public safety is another critical area that warrants attention. Surplus funds should be used to improve law enforcement capabilities, including updating equipment, investing in maintenance programs for equipment, and advanced training programs for all personnel.
Underwriting community policing initiatives can foster trust and cooperation between law enforcement and residents, leading to safer villages and community spaces. The current drug epidemic has placed crime in Guam at a level we have never seen before and should be prioritized for the safety of our residents and our visitors.
Public health is a cornerstone of a thriving community. Allocating surplus funds to once and for all focus on providing and maintaining an efficient and effective public hospital as well as prioritizing our public health initiatives can have far-reaching benefits.
This includes investing in reliable and modern healthcare infrastructure, increasing the availability of medical equipment and supplies, enhancing mental health services, and ensuring that healthcare workers are adequately supported. Additionally, funding preventive care programs can reduce long-term healthcare costs and improve the overall health of our population.
Providing rebates to individual taxpayers who do not receive government subsidies is a direct way to give back to the community. This approach acknowledges the contributions of working individuals and offers them financial relief in this current economy where the cost of living has been a burden to our island residents.
Tax rebates can stimulate local economic activity as recipients are likely to spend their rebates on goods and services right here at home. By targeting those who do not already benefit from government assistance, this measure ensures that support reaches those who might otherwise be overlooked. It’s time to give back to the people – to the whole and not just the few.
Infrastructure is the backbone of economic development and quality of life. Guam faces numerous infrastructure challenges, including outdated roads, inadequate public transportation, and vulnerable utility systems. Surplus funds can be allocated to modernize and expand infrastructure, making it more resilient and efficient.
Priorities should include repairing and upgrading roads, enhancing public transportation networks, and improving water and power systems. Investing in green infrastructure, such as renewable energy projects and sustainable waste management, can also address environmental concerns and promote long-term sustainability.
The government of Guam’s surplus funds represent a significant opportunity to address pressing issues and invest in our island’s future. By temporarily freezing government budgets, strategically prioritizing public health, safety and education, providing taxpayer rebates, and improving infrastructure, we are demonstrating a commitment to careful planning and thoughtful execution.
If these measures are carried out wisely, they will not only address immediate needs but also lay the groundwork for sustainable development and an enhanced quality of life for all residents of Guam.
We have additional suggestions for making the best use of these surplus funds, including enhancing Guam as a destination by improving public parks, scenic sites, recreational areas, and safety signage along Tumon Bay and our coastlines. We will explore these ideas further in upcoming editorials.
Catherine Castro is the president of the Guam Chamber of Commerce.
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