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Ports commission hears FY‑end financials: $1.26M net position, audit pending
Summary
Finance staff reported fourth‑quarter and fiscal‑year results for the year ending June 30, 2025: about $892,000 cash, roughly $856,000 in grants receivable, total assets near $2.4 million and a net position of $1,260,000 (up about $305,000 year‑over‑year); staff cautioned figures may change pending audit.
Finance staff presented the fourth‑quarter and fiscal‑year financial reports ending June 30, 2025 and noted the figures are subject to change pending the ongoing audit.
Presenter Ray said the quarter closed with approximately $892,000 in cash and about $856,000 in grants receivable. He reported three properties with a combined reported value of roughly $685,000 and stated total assets at about $2.4 million. Liabilities were described in the meeting narrative as approximately $1.1 million, yielding a reported net position near $1,260,000, which Ray said represents an increase of about $305,000 from the prior year. He also reported operating revenues of about $400,000, expenses of about $25,000, $93,000 paid in grants and approximately $20,000 earned in interest income.
Ray prefaced the report by saying, "these numbers may change, as we are in the middle of the audit," and invited questions; none were raised during the meeting.
