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Water bosses face income fiasco Water bosses face money questions
(about 6 hours later)
Managers from Northern Ireland Water (NIW) are to face questions from assembly members over a multi-million pound shortfall in its accounts. Managers from Northern Ireland Water (NIW) have faced questions from assembly members over a multi-million pound shortfall in its accounts.
The regional development committee will ask how NIW made errors in the billing of business customers which led to a deficit of around £750,000. The company's chairman Chris Mellor said the shortfall in the finances for this year could be as high as £7m.
The company also anticipates a drop in income of around £3m this year. NIW said the loss was due to a downturn in demand.
Mr Mellor also said errors in the billing of business customers which led to a deficit of about £750,000 should have been identified earlier.
In July the Utility Regulator criticised NIW for its accounting procedures.In July the Utility Regulator criticised NIW for its accounting procedures.