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Harbor commission explains calendar-year accounting; BET requests calendar-year revenue/expense history
Summary
Harbor officials told the BET that timing differences between the commission's January-December fiscal year and the city's June 30 year-end produce apparent year-to-year revenue swings; commission asked BET for a 3-year calendar-year view of mooring revenue and forecast to clarify comparisons.
Norwalk Harbor Management Commission members and their treasurer told the Board of Estimate and Taxation on March 20 that the commission maintains its books on a calendar-year basis (Jan. 1–Dec. 31), which creates timing differences with the city—s fiscal year and can make year-to-year revenue comparisons appear volatile.
Treasurer Chris McDonnell explained that most harbor revenue comes from mooring fees—individuals paying annually and three yacht clubs that pay on behalf of their members—and that timing of…
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