By Gaynor-Dumat-ol Daleno
HAGATNA, Guam (Pacific Daily News, Feb. 5, 2008) – More container ships with more cargo flowing through the Port Authority of Guam resulted in the agency's $3.6 million increase in operating revenues in fiscal 2007 compared to the previous year, according to an audit report released yesterday.
The volume of cargo increased from 1.9 million tons to 2.1 million tons, according to the report.
Even with higher revenues, the port kept its overall operating expenses flat, at $27 million.
The port did add 11 people to its payroll, boosting it to 325 positions, and its payroll-related cost increased by $275,000 to $15.9 million, states the report, released by the Guam Office of the Public Auditor. The audit was conducted by Deloitte and Touche.
The port ended fiscal 2007 with a $1.6 million increase in net assets, the report states.
The audit did point out that the agency has been unable to obtain new gantry cranes to...