{"id":300336,"date":"2019-05-28T06:06:58","date_gmt":"2019-05-27T20:06:58","guid":{"rendered":"https:\/\/www.saipantribune.com\/?p=300336"},"modified":"2019-05-28T06:06:58","modified_gmt":"2019-05-27T20:06:58","slug":"fema-delay-straining-cuc-cash-flow","status":"publish","type":"post","link":"https:\/\/www.saipantribune.com\/index.php\/fema-delay-straining-cuc-cash-flow\/","title":{"rendered":"\u2018FEMA delay straining CUC cash flow\u2019"},"content":{"rendered":"

The Commonwealth Utilities Corp.\u2019s revenue collection from power and water has been steadily growing every month, but the Federal Emergency Management Office\u2019s slow reimbursement of millions of dollars in expenses from recovery efforts following Super Typhoon Yutu is causing a major strain on CUC\u2019s cash flow, according to CUC chief financial officer Greg P. Cruz. <\/p>\n

During CUC\u2019s board meeting last Friday, Cruz reported that their revenue data on power and water sales shows that CUC is now very close to its pre-Super Typhoon Yutu level.<\/p>\n

\u201cSo, we are almost there,\u201d Cruz said.<\/p>\n

On the other hand, he lamented that reimbursements from FEMA \u201care very, very slow.\u201d<\/p>\n

He said CUC has already submitted a total of $8 million in reimbursement applications to the local FEMA office.<\/p>\n

He said this FEMA delay is putting a lot of strain on CUC\u2019s ability to pay its current operations. <\/p>\n

\"\"<\/a>
Greg P. Cruz<\/figcaption><\/figure>\n

CUC pays a 10-percent match for FEMA-funded projects.<\/p>\n

Cruz said the $8 million should already be in CUC\u2019s bank account but is being held up \u201cfor whatever reasons.\u201d<\/p>\n

He said they submitted everything that they are required to submit to FEMA for reimbursements.<\/p>\n

\u201cIt is always my understanding that money is already on island and it\u2019s only a matter of just turning in the documentation. But, apparently, there is something that I am not aware of,\u201d Cruz said. <\/p>\n

Cruz said the number of customers in their system has returned to the pre-Yutu level due to CUC\u2019s restoration effort.<\/p>\n

\u201cIt is really showing in the numbers. It is very positive from my prospective when I look at these numbers,\u201d he said. <\/p>\n","protected":false},"excerpt":{"rendered":"

The Commonwealth Utilities Corp.\u2019s revenue collection from power and water has been steadily growing every…<\/p>\n","protected":false},"author":23,"featured_media":300337,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[900],"tags":[49],"class_list":["post-300336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","tag-cuc"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/300336","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\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=300336"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/300336\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media\/300337"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=300336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=300336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=300336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}