Portsmouth EDA approves minutes, hears financial report showing $20.1M net position
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Summary
At its final meeting of the year the Portsmouth Economic Development Authority approved its Nov. 18 minutes and heard a financial report showing a net position of about $20.1 million as of Nov. 30, 2025. Staff also summarized operating revenues, expenses and grant activity.
The Portsmouth Economic Development Authority on the final meeting of the year approved its Nov. 18 minutes and received a financial report for the period ending Nov. 30, 2025.
A finance presenter told commissioners the authority had about $6,100,000 in cash and $1,700,000 in receivables, with land and hotel air rights valued at roughly $1,200,000. Total assets were presented as $22,100,000, liabilities about $382,000 and a total net position of approximately $20,100,000, a decline of roughly $104,000 compared with the prior year period. “We ended November with around 6,100,000.0 in cash,” the presenter said.
The presenter also laid out operating figures: roughly $68,000 in operating revenues, $122,000 in operating expenses, $107,000 paid out in grants year‑to‑date and about $57,000 in interest income. A small refund of $1,185 related to land purchase was reported.
The approval of the Nov. 18 minutes passed by roll‑call vote, 6–0. Commissioners asked staff for a follow‑up at a future meeting that walks new and recently seated members through the financial statement categories to enhance understanding of the authority’s fiscal reports.
Next steps: staff will include a more detailed walkthrough of categories at the next meeting to assist newer members and to clarify budget versus actual comparisons.