By Emmanuel T. Erediano
[email protected]
Variety News Staff
THE Commonwealth Utilities Corporation’s unaudited statement of cash flows for the year-to-date period that ended on April 30, 2026 indicates a $731,518 deficit.
It also reported that its net position for April 2026 was $443,295 lower than in the same month last year, according to an unaudited report.
In a June 11, 2026 report submitted to the Legislature, CUC Chief Financial Officer Betty Terlaje stated that for the year-to-date period ended April 30, 2026, CUC’s operating cash flows reflected a deficit of $731,518. Although CUC received a total of $46.6 million from customers, payments to suppliers for goods and services totaled $33.3 million, while payroll expenses amounted to more than $14 million.
The CFO’s report also disclosed $7.5 million in grants, which enabled CUC to acquire and pursue the construction of capital assets totaling more than $5.9 million, resulting in $1.6 million in net cash from capital and financing activities.
Because CUC had $47.8 million in cash and cash equivalents at the beginning of the year (Sept. 30, 2025), its cash and cash equivalents at the end of the period totaled $48.1 million.
Net position
The CFO’s report also indicated that CUC’s total assets stood at $226.9 million as of April 2026, an increase of $2 million compared to April 2025, when assets totaled $224.8 million.
However, CUC’s total liabilities as of April 2026 were $45.8 million, an increase of $2.4 million from April 2025, when liabilities totaled $43.4 million. These include $24.3 million in current liabilities as of April 2026, compared to $23.2 million in April 2025, and $21.5 million in noncurrent liabilities, compared to $20 million the previous year.
These changes resulted in a lower net position of $181 million as of April 2026, compared to $181.5 million in the same period of 2025.
The statement of revenues and expenses shows that CUC’s total operating expenses as of April 2026 were $63.4 million, an increase of $3 million from $60.4 million in April 2025.
CUC’s loss from operations as of April 2026 was $16.4 million, more than double the 116.1% increase over the April 2025 loss of $7.6 million. This was attributed to a $3.6 million provision for uncollectible accounts in April 2026, higher than the $3.1 million recorded in April 2025, as well as the increase in operating expenses.
On April 14, Super Typhoon Sinlaku struck Saipan and Tinian, causing widespread damage across the islands and to CUC infrastructure, with recovery efforts still ongoing.
Emmanuel “Arnold” Erediano has a bachelor of science degree in Journalism. He started his career as police beat reporter. Loves to cook. Eats death threats for breakfast.
