The Guam Water Works Authority has released its annual report, which states, among other things, that GWA’s long term-liabilities increased nearly 74-percent from 2013 to 2014.
Guam – In the report, GWA outlines financial statements from the fiscal year 2014gwa said in an email statement that the increase was driven by 2013 revenue bonds, worth approximately $173-million. GWA says that the financing for the bonds took place in December 2013, which is considered debt for the fiscal year 2014. While long-term liabilities have increased, water revenues also increased by $5.2 million due, in part, to a 15-percent increase in water rates. GWA is also reporting an increase in operating revenues by 10.6-percent while operating expenses have dropped 3.7-percent. This accumulates to a 201-percent increase in net operating income. you can read the full report online at pacificnewscenter.com