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Portland Fish Exchange adopts FY2026 budget despite projected deficit; board majority approves
Summary
The board approved the fish exchange budget for fiscal year 2026 with a 4‑yes, 1‑no, 1‑abstain vote; staff projected lower landings and a budgeted deficit and outlined cost drivers including utilities, insurance and IT support.
The Portland Fish Exchange’s management presented a fiscal 2026 budget that projects lower whole‑fish landings and a budgeted operating deficit; the board voted to approve the budget by 4 yes, 1 no and 1 abstention.
Robert (exchange management) summarized the budget: projected whole‑fish landings of 2,000,000 pounds (down from prior projections), contract unloads projected at about 200,000, pumping volume projected at roughly 1,200,000 pounds, and an overall gross shortfall in the budget. Robert said the draft budget showed a negative position of about $274,877 and that many line items had increased: utilities (electricity, natural gas, water, sewer, Internet and telephone) were budgeted at roughly $166,000 for FY2026, general insurance was budgeted at $95,000, and IT/services increased to an annual managed‑service estimate that the presenter said would be about $43,000 this year (the vendor moved the authority from hourly “break/fix” billing to a full‑service contract). Professional fees were reduced because the city will pick up the annual audit ($28,000), lowering the budgeted professional fees line.
Board members questioned staffing, revenue and contingency plans. Mary and others emphasized uncertainty in landing volumes due to potential changes in federal observer funding that could affect fishing effort midseason; Mary said observer funding uncertainty could depress landings during summer and that the board should be prepared for a midyear shortfall. Staff noted they were exploring both buyer recruitment (East Coast Seafood was returning as a contract buyer for monk) and administrative efficiencies to reduce costs.
After discussion, John moved to approve the FY2026 budget and the motion was seconded. The roll call recorded four yes votes, one no vote and one abstention; the chair confirmed the motion carried. The board asked staff to continue efforts to increase revenue and to monitor landings; staff noted they would report back if midyear adjustments were needed.
