Government of Guam revenue collections through the "tax month" of April currently remain comfortably higher than GovGuam finance officials "conservative" projections, according to the Consolidated Revenue and Expenditure report, or CRER.
The latest report that tracks government tax revenue shows total actual general fund collections through the first seven months of the year of $683.3 million, which continue to outpace projected revenue of $631.2 million.
According to the April CRER by the Bureau of Budget and Management Research, GovGuam has $52.1 million in revenue, exceeding projections.
But the net "surplus" is actually $36.7 million after deducting legislative appropriations of $15.3 million, according to the CRER.
The full fiscal year adopted revenue projection is for $994.8 million, but BBMR is currently tracking full-year revenues of $1.04 billion, or 5.24% more in actual collections than expected.
GovGuam tax revenue will be closely watched as the Legislature eyes how much money it will be able to spend when it goes into the fiscal year 2026 budget deliberations in August.
This also comes as the Guam Chamber of Commerce continues to lobby heavily for a rollback of the Business Privilege Tax from 5% to 4% as it pushes for some long-sought relief for struggling local businesses.
BPT collections through April are at $238.4 million according to the CRER, some $8.9 million more than projected.
In fiscal year 2024, BPT collections through April were slightly higher at $242.3 million, according to the CRER.
Full-year BPT collections for FY 25 are projected at $400.2 million, but are currently tracking at $409.2 million by Sept. 30.