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Harbor board reviews budget, approves enterprise plan; sets 2026 rate review
Summary
The Petersburg Borough Harbor Board reviewed its enterprise fund budget, confirmed roughly $3.5 million in enterprise revenues and approved the budget as written. Board members discussed rate timing, a deferred harbor skiff replacement and savings from recent dredging bids.
The Petersburg Borough Harbor Board reviewed its proposed enterprise fund budget and voted to approve the budget as presented.
Harbor staff told the board the enterprise fund shows approximately $3,500,000 in revenue set aside for harbor projects and that raw-fish tax revenue is placed into the enterprise fund by policy. The harbor master said the borough plans to hold permanent customer rates steady until a scheduled rate review in 2026 and expects to consider a larger rate adjustment in January 2026 rather than small annual increases.
"We have, 3,500,000.0 in our on our rev in enterprise fund," the harbor master said during the meeting. She said the board has set aside money for projects but is looking for outside partners and that a planned harbor-skiff replacement was deferred to reduce near-term expenditures.
Board members also discussed cost savings from a recent South Harbor dredge: the harbor master told the board the low bid for that work came in at about 51% of the original estimate, and the final cost was just under $3,000,000 compared with an earlier estimate of about $4.5 million. That result left more funds available for other projects, she said.
A motion to approve the budget as written carried on a roll-call vote. The harbor master asked the board to consider making a motion so the assembly would know the harbor board had reviewed and was engaged; the board moved and approved the budget during the meeting.
Board members were briefed on planned capital items and a feasibility study in progress; staff recommended potential partnerships (including PIA sponsorship) to reduce the borough's share of future project costs. The board asked staff to present details to the assembly as needed when projects move to the borough-level approval process.
The board's approval documents will be forwarded to the borough assembly as part of the routine budget process.
