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Commission hears quarterly financial report showing positive net position
Summary
A finance presenter summarized EPIC's financial position as of Nov. 30, 2025, reporting property valuations, rent receivable and a reported net position; the presenter said operating expenses and interest income were modest and provided budget vs. actual figures.
A staff presenter provided the Portsmouth Industrial Commission with a quarterly financial report for EPIC as of Nov. 30, 2025, outlining assets, liabilities, revenues and expenses.
The presenter reported $1,600,000 in rent receivable and three properties valued at $685,000, with a total net asset value stated as $3,200,000. She said liabilities were approximately $1.9 million and that the entity’s net position stood at $1,300,000, which the presenter described as an increase of $4,600 from June 30. The presenter also referenced operating expenses and said total operating expenses for the year were reported as 2,536 (transcript numeric formatting unclear) and that the organization had received modest interest income ($91 reported as bank interest in the record).
The presenter walked commissioners through a budget‑versus‑actual summary, stating the organization had a net gain of roughly $4,655 year‑to‑date and described incoming community grant expectations. Commissioners had no questions at the time of the report.
The numbers above are reported as stated in the meeting transcript; some figures have limited precision in the record and may require verification in the formal financial statements.
