OPA: Tourist Attraction Fund Revenues Jump 15% As Visitor Arrivals Rebound

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Guam – Revenues for the Tourist Attraction Fund [TAF] climbed 15% in Fiscal Year 2010 as Guam saw an overall increase in visitor arrivals.

The latest audit released this morning [Friday] by the Office of Public Accountability reports that the revenues for the TAF are up $2.8 million from $19.4M in FY 2009 to $22.2M in FY 2010.

The report credits the growth in visitor arrivals during that time which grew 11.2% to 1,170,757.

Read the Tourist Attraction Fund Audit Highlights      

The independent audit was conducted by Deloitte and Touche which issued an “unqualified or clean opinion” for the Tourist Attraction Funds 2010 Fiscal statements. There were no deficiencies in internal controls over the financial reporting.

However 3 adjustments were made by the auditors which had a cumulative effect of reducing net assets by $175 thousand dollars.