OPA issues clean audit of GIAA finances - KUAM.com-KUAM News: On Air. Online. On Demand.

OPA issues clean audit of GIAA finances

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by Ken Quintanilla

Guam - An audit of the airport's finances was released today by the Public Auditor's Office. Although GIAA may have seen a drop in passenger activity as a result of last year's disasters in Japan, the agency managed to close out Fiscal Year 2011 with a $1.3 million increase in net income, according to the audit that was mainly attributed to an increase in operating revenues from non-airline revenue streams.

Auditors did find $50,000 in questionable costs pertaining to the ineligible cost associated with the installation of a new water system at the airport. Overall, however, GIAA received a clean opinion for its 2011 financial statements.

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