Notice to Financial Statement Viewers

These financial statements were prepared in accordance with a deadline imposed on the Guam Power Authority by Public Law 29-02 which requires financial statements to be prepared within 30 days of the end of a quarter.  GPA cautions that investors should not make any investment decisions based on the information depicted in these financial statements.  GPA’s most significant account is Sales of Electricity.  Therefore, GPA places a premium on reporting Sales information that is as accurate as possible.  Because, GPA reads meters throughout the month manually, and because of an extensive exception review process, the requirement to prepare financial statements on an expedited basis requires significant estimates to be made with regards to this critical account.  GPA is continually refining the accuracy of information obtained through the meter reading process.

Further, the expedited deadline does not allow GPA a sufficient period in which to properly receive and record expenses incurred during the year.  GPA believes its expenses for the year could be significantly different when an adequate accrual period is used. 

GPA expects to have its preliminary financial statements on its website under the section entitled “Rates” on or about April 15, 2008.  GPA requests that its investors or other interested parties defer any investment decisions related to GPA’s outstanding financial instruments until those financial statements are completed and posted. 

GPA Un-Audited Financials as of April 2008 Download 78 kB pdf

GPA Un-Audited Financials as of May 2008 Download 27 kB pdf