Audit: GWA saw increase in revenues
For a second year in a row, the Guam Waterworks Authority ended the year with positive net earnings, attributed to an increase in water usage and the implementation of rate increases.
March 22, 2011Updated: March 22, 2011
By KUAM News
By KUAM Newsby Mindy Aguon
Guam - For a second year in a row, the Guam Waterworks Authority ended the year with positive net earnings, attributed to an increase in water usage and the implementation of rate increases. But despite the unqualified "clean" opinion, auditors still had concerns about the agency's challenges to collect revenues, account for water leakage and address faulty meters.
The audit also noted an increase of $2.7 million in operating expenses that was offset by a $10 million increase in revenues.