by Linda Straker
Although St George’s Bus Terminus earned more revenue in 2014, the surplus did not result in a profit.
“Revenue generated from entry fees amounts to EC$1,216,028 in 2014 compared to EC$912,925 in 2013, an increase of 33.2%. Income from booth operators also increased from EC$131,867 in 2013 to EC$159,125 in 2014 due to higher occupancy of booths. Total operating income from activities at the Bus terminus in 2014 was EC$1,392,090 — an increase of EC$339,334 or 32.2% over the EC$1,052,090 generated the previous year,” said the 2014 annual report of the Grenada Ports Authority, which was recently tabled in the House of Representatives.
The Bus Terminus is managed by the GPA, and according to the report, total operating expenditure of EC$1,201,918 was 3.5% more than the EC$1,161,041 recorded in 2013. “This increase in operating expenditure was primarily due to higher expenses in respect of maintenance, uniforms and electricity,” the report explained.
Activities at the bus terminus in 2014 resulted in net operating income of EC$190,171 before provision for depreciation and interest, compared to a net operating loss of EC$108,285 in 2013. The report said that depreciation and interest for the year amounted to EC$288,600 and EC$869,400 respectively.
“A net loss of EC$967,829 after depreciation and interest was incurred on operation at the bus terminus in 2014,” said the report, which explained that collection of outstanding arrears from bus operators continues to be problematic. Outstanding arrears at the end of December 2014 was EC$319,770.
The records show that at the end of 2014 a total of 769 buses were registered to use the Terminus, but 69 of those buses had not been accessing the facility which is located on Melville Street.
The report which is signed by Chairman Dr Wayne Sandiford and Acting General Manager Ian Evans, explained that Government has granted approval for the Authority to operate and manage the Grenville Bus Terminus.
“The startup and effective management of that facility will be another challenge. Based on preliminary estimates of operational revenue and expenditure, the Authority is likely to incur annual net losses in the vicinity of EC$1,000,000 from activities at that facility,” the report said.
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