Page 277 - PWA_2023_Annual_Report

Provincial Waterworks Authority Annual Report 2023 275

5.28 Long-term guarantee consisted of the following:

Unit : Million Baht
Financial statement-equity
method applied/
Separate financial statements

2023 2022

Water usage guarantee 1,850.87 1,843.06
Value adjustment of water usage guarantee
pending for investigation 0.02 0.08
Employee guarantee 27.52 27.70
Total 1,878.41 1,870.84

PWA has the criteria to manage water usage guarantee and its interests for benefit of water
users. According to the PWA regulations regarding “Water Usage Guarantee Fund Administration B.E. 2552
(2009), effective from 23 November 2009, there shall be a fund management committee to be responsible
for controlling the operation of the water usage guarantee fund and its interest. The cash reserve of not less
than 300.00 million baht shall be deposited in the account “Water Usage Guarantee Fund” for refunding of
water usage guarantee to customers. The reserve may be increased as appropriated. The remainder of the
water usage guarantee after the reserve has been made, it can be used as working capital of PWA.
In 2020, the Cabinet passed a resolution at the Meeting on 17 March 2020 regarding measures
to help people affected by the coronavirus disease (COVID-19) epidemic situation in order to alleviate
the suffering of people and reduce the burden of infrastructure costs. As for the water supply measures
proposed by the Ministry of Interior, PWA was required to refund the water usage guarantee to
residential users. Additionally, the PWA’s Board passed a resolution in its meeting No. 4/2020 on 24 March 2020
to approve PWA to refund water usage guarantee to residential water users according to the criteria
and procedures set by the PWA Governor. PWA has started refunding the water usage guarantee from
5 May 2020 onwards.

5.29 Equity consisted of the following:

Unit : Million Baht
Financial statements - equity method applied/
Separate financial statements
Increase
2023 2022 (Decrease)

Capital 2,204.44 2,204.44 -

Government subsidies 30,919.65 30,919.65 -
Total 33,124.09 33,124.09 -