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Portsmouth commission reviews unaudited March finances, drafts FY2026 budget
Summary
The Portsmouth Port and Industrial Commission received an unaudited March financial report showing cash and grant receivables, discussed a draft FY2026 budget with planned program placeholders and a proposed $500,000 threshold for a community grant program, and directed budget committee follow‑up on STARBASE funding and conference/outreach items.
The Portsmouth Port and Industrial Commission on April 22 received an unaudited financial report for the third quarter ending March 31, 2025, and reviewed a draft fiscal year 2026 budget that keeps several program placeholders while trimming some line items.
The finance presenter reported the commission ended the quarter with about $837,000 in cash and $856,000 in grants receivable and said the commission still carries two properties on the books valued at $332,000, producing a total net asset figure near $2,000,000. Liabilities were reported at about $1,100,000, including rent payables, accounts payable and a liability “due to the Commonwealth in 2029,” leaving an unrestricted net position of about $950,000, a decrease of roughly $7,400 from the prior year.
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