Guam - The Guam Power Authority has received a clean opinion from the Office of Public Accountability. According to the findings the agency has significantly increased their net income for FY2013 to $4.9 million compared to a decrease of $2.4 million in FY2012.
The audit showed that of the 11 reported findings seven were identified in the prior year. The four new findings include electricity sales related to streamlining errors, erroneous payroll payments, expenses for change order approvals and expense classifications, and account payable for long outstanding accounts and unreconciled balance. The seven repeat findings included excessive cancellations and rebills, verification and recording of obsolete or retired utility plant inventory, reconciliation of account with Guam Waterworks Authority, negative balances and inactive accounts.
For more details visit GuamOPA.org.