{"id":22751,"date":"2012-06-28T09:16:52","date_gmt":"2012-06-28T09:16:52","guid":{"rendered":"http:\/\/newspaper.ctsi-logistics.com\/?p=22751"},"modified":"2012-06-28T09:16:52","modified_gmt":"2012-06-28T09:16:52","slug":"central-govt-pss-chc-now-owe-cuc-9-2m","status":"publish","type":"post","link":"https:\/\/www.saipantribune.com\/index.php\/central-govt-pss-chc-now-owe-cuc-9-2m\/","title":{"rendered":"Central govt, PSS, CHC now owe CUC $9.2M"},"content":{"rendered":"
Arrears owed by the Commonwealth Utilities Corp.’s three biggest customers-the central government, the Public School System, and the Commonwealth Healthcare Corp.-have jumped to over $9 million, according to CUC chief financial officer Charles Warren.<\/div>\n

Based on its latest records, Warren said that CUC’s receivables from these three entities total $9.2 million.<\/p>\n

PSS owes the largest slice of the pie, amounting to $3.8 million as of May 31, 2012.<\/p>\n

CHC’s outstanding obligation totals $3 million.<\/p>\n

The central government, which includes its instrumentalities, owes CUC $2.5 million, while other autonomous departments owe $900,000.<\/p>\n

The Northern Marianas College is also $70,000 in debt to CUC as of May 31.<\/p>\n

According to Warren, CUC did receive three payments that were not factored yet in the May 31 records. He said the central government made payments since then of $728,000, while NMC paid its full arrears of $70,000. CHC, for its part, partially paid $216,000.<\/p>\n

According to Warren, CUC received its last payments from the central government on June 20, while the public hospital made a partial payment on June 8. Public schools, meantime, made its last utility payment on May 17.<\/p>\n

Adding these unpaid obligations to other receivables from the agency’s residential and commercial customers boosts CUC’s total receivables to $18.2 million as of end last month.<\/p>\n

Records show that residential customers owe the utilities firm $6.5 million while commercial patrons owe $2.5 million as of May 31.<\/p>\n

CUC is a nonprofit organization and its operation relies heavily on payments of power, water, and wastewater customers.<\/p>\n

Despite these unpaid monies, CUC describes its current cash flow as positive compared to the same period last fiscal year.<\/p>\n

Warren disclosed that for eight months ending May 31, the utilities firm had a positive cash flow of about $929,000, compared to the negative cash flow last fiscal year of $691,000. Fiscal year 2012 covers the period from Oct. 1, 2011, to Sept. 30, 2012.<\/p>\n

Warren said that CUC’s collection from October 2011 through May 31 totaled $60.7 million, and expects to collect about $91 million until end of the current fiscal year.<\/p>\n

Warren attributed the current positive cash flow to \u201cexpense control and improved collection.\u201d<\/p>\n

CUC is still under a state of emergency.<\/p>\n

By Moneth Deposa
\nReporter<\/p>\n","protected":false},"excerpt":{"rendered":"

Arrears owed by the Commonwealth Utilities Corp.’s three biggest customers-the central government, the Public School…<\/p>\n","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[243,91,49,244],"class_list":["post-22751","post","type-post","status-publish","format-standard","hentry","category-local-news","tag-charles-warren","tag-chc","tag-cuc","tag-utility"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/22751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=22751"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/22751\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=22751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=22751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=22751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}