FEMA to reimburse CUC for all typhoon-related expenses
As of last Tuesday, the Commonwealth Utilities Corp.’s expenses for restoration in the aftermath of Super Typhoon Yutu has already reached $6.3 million.
In her presentation at the CUC board meeting last Wednesday, CUC acting chief financial officer Corina Magofña said that Yutu expenses for October totaled $327,386, but this leaped to $3,442,792 in November, and $2,570,347 in December.
Magofña said this brings Yutu restoration expenses for the three-month period to a total of $6,340,525.
She said the Federal Emergency Management Agency will reimburse all typhoon-related expenses.
CUC’s expenses were for labor, equipment rentals, fuel and diesel for vehicles, materials and supplies, repairs and maintenance, meals, generator for Tinian, submersible pump for Marianas Resort & Spa, other services, and for Guam Power Authority.
Magofña said the actual total expenses for power, water, sewer, and administration for the month ending Nov. 30 was $6,417,896.
She noted that, out of the $6.4 million expenses for the month of November, $4.7 million ($1.4 million for payroll and $3.3 million for operating expenses) will be reimbursed by FEMA.
On CUC’s budget overview, Magofña said the fiscal year 2019 overall budget is $122.2 million and for the month ending Nov. 30, there is a remaining balance of $107.8 million.