by Linda Straker
Although the Grenada Ports Authority recorded an operating surplus of EC$191,172 from the St George’s Bus Terminus, it says that the collection of outstanding arrears of entry fees from bus operators continues to be a challenge.
The 2015 annual report of the Grenada Ports Authority, the entity which operates the bus terminus, states that as of December 2015, there were 739 buses registered to use the facility. “At the end of December 2015 outstanding arrears stood at EC$283,020. The authority will continue its efforts to influence changes to the Road Traffic Regulations that could facilitate the collection of arrears from bus operators,” said the report which recently became a public document when it was laid in the House of Representatives.
The report said that total operating revenue generated from operations of the Terminus in 2015 was EC$1,462,216. This is an increase of EC$70,126 or 5% over the EC$1,392,090 recorded in 2014.
“Entry fees from bus operators totalled EC$1,271,257 which exceeded the prior year by EC$55,229 or 4.5%. Suffice to note that earnings from entry fees accounted for 87% of revenue derived from activities at the Bus Terminus. Income obtained from the rental of booths also increased by 8.8% from EC$159,125 in 2014 to EC$173,200 by 2015,” said chairman of the Board Dr Wayne Sandiford in the performance review of the Authority.
Despite the operating revenue increase and the operating surplus, the Chairman’s report explained that depreciation and interest for the year amounted to EC$288,600 and EC$869,400 respectively, and as a result a net loss of EC$966,430 after depreciation and interest was incurred.
The report disclosed that as of the end of January 2016, the Authority’s arrangement with the Ministry of Works in respect of providing assistance to the Transport Board with the processing of documentation pertinent to applications for new as well as renewal of bus route stickers, will be reverted to that ministry.