GSWA projects $1M revenue shortfall

BURYING TRASH: A packer truck unloads trash as workers using heavy equipment work to bury the trash at the Layon landfill on July 25, 2019 in Inarajan. David Castro/The Guam Daily Post

The Guam Solid Waste Authority is looking at a net operating loss for fiscal year 2020, according to board Chairman Andrew Gayle. 

As of July 31, GSWA forecast a revenue shortfall of about $1.1 million for the fiscal year compared to what the agency had budgeted.

The solid waste agency has seen revenues drop as a result of the decrease in commercial waste services during the pandemic. 

"We also forecast a net operating loss of about $1.5 million for fiscal year 2020," Gayle stated.

GSWA expenses at the end of the budget year were projected at $19.95 million.

GSWA Comptroller Kathy Kakigi stated in early April that the agency could see a $1.8 million revenue loss by the end of this budget year, which is Sept. 30, with drops in commercial trash volume. However, she stated at that time the numbers were fluid.

GSWA offset some of the revenue shortfalls with spending reductions, Gayle said.

"(General Manager) Larry Gast and his team have been implementing cost-cutting measures but they haven’t been enough to offset the revenue shortfall," Gayle said. 

0
0
0
0
0

Recommended for you