Port of Edmonds Executive Director Bob McChesney provided expanded information on the Monday, Feb. 24, Port Commission meeting, which included senior staff reports on operations and financial results for 2013.
Marina operations and facilities demonstrated continued excellent performance with 95 percent financial occupancy for wet moorage, and 94 percent in dry storage. Fuel sales posted a year over year increase of 5 percent compared to 2012. The public launch was a highlight of the report. Historically operated in the red, in 2013 the Port’s public launch posted net income of $12,737 on total revenues of $123,529. Public launch activity increased 10 percent due to great fishing and special promotions. Guest moorage activity was up slightly.
Port Commission President Jim Orvis commented “Marina performance reflects the essential value the Port provides to our boating customers, the residents of the Port District, and the broader Edmonds and Woodway communities. The Port will continue to re-invest net income to maintain the quality of the marina into the future.”
The Port’s Harbor Square property shows improved leasing activity with 75 percent average occupancy for 2013, while revenues increased by 2.2 percent.
On the financial side, for 2013 the Port of Edmonds reports revenues of $7.7 million, stronger than expected revenues by 4 percent. Expenses were $6.7 million, 2 percent less than budgeted. Ending net position was up by $89,496 from the previous year and exceeded budget forecast for 2014 by $423,761. Port staff noted several factors contributed to the Port’s strong financial results, including staff training, much higher productivity and overall quality that continues to improve every year.
Commissioner Fred Gouge commended Port staff for their efforts to maintain quality while achieving excellent financial results.