OPA: Highway Fund Ends With $157K Surplus, Although Fuel Tax Revenues Are Down

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Guam – The Territorial Highway Fund [THF] ended the 2011 Fiscal Year with a $157-thousand dollar increase in income, compared to a lose of $826K in the prior year.

 

According to the latest audit released by the OPA, independent auditors Deloitte and Touche issued an unqualified or clean opinion on the Highway Funds’ financial statements.

READ the audit Highlights HERE 

The THF ended with a surplus, despite the fact that its revenues decreased by 2.5% from $18.6M in FY 2010 to $18.4M in FY 2011.

52% of  the THF’s revenues come from the liquid fuel tax you pay ever time you gas up your vehicle and gas tax revenues fell $299K.

The remaining 48% of the THF’s revenues comes from licensing fees and permits which increased by $124K over last year.