by Linda Straker
- Over 200 buses use the terminus in St George’s and Grenville
- St George’s Bus Terminus has operated at a loss since it began operating in 2005
- Operating costs have at times gone over EC$2 million
The St George’s Bus Terminus is a state-owned enterprise that has operated at a loss since it began operating in 2005 and for the period of 2015 to 2019, the records show that total income ranged between EC$1,485,052 and EC$1,455,243, while operating costs have at times gone over EC$2 million.
In 2019 operations at the Bus Terminus realised a total revenue of $1,455,243, a decrease of $27,197 or 1.8% compared to $1,482,440 generated in 2018. “This decrease in operating revenue was due primarily to lower earnings from bus entry fees and vendor booths collections, the main sources of revenue at the Bus Terminus,” said the 2019 report of the Grenada Ports Authority, the statutory body which manages the terminus.
“Income from bus entry fees fell from $1,283,791 in 2018 to EC$1,270,350 in 2019, a decrease of $13,441 or 1.05%. Total operating expenditure also increased from $1,583,121 in 2018 to $1,660,839 in 2019,” said the report which recently tabled in the Houses of Parliament.
“Employment costs, the main contributor to the cost of operation increased by $43,414 or 3.7% in 2019. An operating deficit of $205,596 was declared for 2019 as compared to $100,681 in 2018; it means net losses were realised for the last 3 consecutive financial years; 2017, 2018, and 2019.” The report admits that the operation presents several challenges, the major one being the low rates charged for the main services provided by such a costly investment. The report explained that the Authority accounts for entry fees at the Bus Terminus on an accrual basis.
In 2020, it is anticipated that the financial situation will be even worse because of the various measures taken by the Government to contain and control the spread of Covid-19 which included a lockdown of the country in the first quarter.
Over 200 buses use the services of the terminus in St George’s and Grenville.