WASA’s financials heads to Auditor General
Thursday 29th July, 2010

The cabinet has agreed to send the audited financial statements of the Water and Sewerage Authority from 2003 to 2005 to the Auditor General.

Public Utilities Minister Emmanuel George says the decision was made as the operations of WASA need to be scrutinized.

Minister George says the audited records for WASA from 2003 to 2005 reveal the authority is in "a pretty bad financial state".

He says that the balance sheet at September 30th, 2005 showed that WASA was in a position of insolvency.

While the cabinet has agreed to lay the financial reports in the parliament, Mr George says further action is to be taken.

He says WASA's revenue deficit increased from $397.2 million in 2003 to $482.9 million in 2004 with a slight reduction in 2005.

He says this occurred as the operating expenditure of $809 million in 2003 increased to $1.1 billion in 2005.

He says the cabinet has now requested a further audit of WASA's accounts from 2005 to 2010.

As for the resignation of the WASA CEO, the Works and Transport Minister says this was a matter for the person holding that office.

Mr Warner defended the appointment of former Ganga Singh as the acting WASA CEO.

He says Mr Singh's previous experience as the Public Utilities Minister and as a lawyer would be an asset.