ASPA 1st quarter report: higher fuel price led to higher than expected revenues
The 1st quarter performance report for ASPA has revealed the authority did better than expected in earned revenue due to high fuel prices. The report was delivered to the Senate late Monday afternoon, and states that first quarter spending stands at just over $29 million while revenues are more than $32 million.
Prior to the start of yesterday’s Senate session, where the budget bill was approved, Sen. Laolagi F.S. Vaeao, chairman of the Senate Budget and Appropriations Committee, distributed to senators the 1st quarter performance report for their review.
After the session, Laolagi met with senators to give an overall briefing on the ASPA report, which was among the financial documents requested by the Fono Joint Budget Committees during a hearing on Monday. Other ASPA financial reports are expected to be submitted soon to the Fono.
In the meantime, both the Senate and House yesterday approved in final reading their respective versions of an administration bill seeking $86.59 million to fund the last nine months of the current fiscal year for the American Samoa Power Authority.
ASPA’s budget bill now goes through the required protocol for the Senate and House to approve each others identical versions of the bill, before one final version is sent to the governor for his signature. This must be done before 12midnight on Jan. 31, which is when ASPA’s approved budget for the first quarter of FY 2013 expires.
ASPA’s full budget for FY 2013 — which was proposed by the previous board of directors — stands at $115.45 million, according to a two-page budget summary of ASPA’s first quarter report.
The report states that total actual operating and grant revenue for the first quarter is $32.04 million, and this total consists of operating revenue of $31.57 million and grant funds of $727,887 with “a total variance of $3.44 million (or 11.9%) more than revenue projections and this is due to high fuel price.”
Of the total revenue, the report says electric division represents $14.26 million (44%); water $2.10 million (7%); Waste water $1.53 million (5%) and fuel division $13.42 million (41%), the report states.
First quarter expenses totaled $29.13 million with $28.40 million spent on operations and $727,887 spent on grant projects, according to the report.
Total expenditures includes electric division $14.03 million (48%); water division $2.06 million (7%); Wastewater $989,030 (3%); Solid waste $635,636 (2%) and fuel marketing $11.41 million (39%) - a variance of $272,580 or 1.2% over budget expense projections, the report states.
Of the total expenses, $2.49 million was for personnel; $21.48 million in materials & supplies; $14,670 for travel; $305,723 for contractual services; $862,410 in equipment; and $3.97 million in “all others” budget category, according to the report.
Total number of personnel for ASPA at the end of the first quarter stands at 467 with 419 full time employees; 35 contract workers; and 13 temporary workers.
ASPA’s budget summary as well as detailed activities and accomplishments during the first quarter will be included in the overall ASG first quarter performance report that is due to be submitted by the Executive Branch to the Fono by the middle of next month.