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Kitsap PFD treasurer reports mixed Q1 finances; board approves $26,000 conference-hosting contract
Summary
The board reviewed January–March financials (Jan–Feb revenues slightly above budget, March down 2.7% year-over-year), examined a preconstruction invoice-tracking sheet showing about $1.3M remaining across projects, and approved a $26,000 contract to host the Association of Washington State PFDs conference with one recorded abstention.
Director Draper, the PFD treasurer, presented the board with the first-quarter financial picture on April 27, reporting modest revenue variance and a cautious note on March sales-tax receipts.
“The 13,418…that’s all that’s revenues, and so we’re $13,418 over our budgeted revenue for those first two months of the year,” Director Draper said, and later staff showed March was down roughly 2.7% compared with the same month last year.
Draper and staff cautioned that March figures reflect earlier-month sales and that last year’s March rebate had been unusually large (+9.8%), which complicates simple year-over-year comparisons.
On project financing, staff introduced a revised 'Preconstruction Project Invoice Tracking Sheet' that isolates preconstruction invoices from construction-phase debt payments. Russ said the remaining balance across tracked projects was about $1,300,000 and that a large portion remains payable to the Port of Bremerton; he also noted Port Orchard still shows $129,375.63 remaining for preconstruction obligations.
“We’ve already paid off Port Gamble projects, so all we’ll have left will be the Port of Bremerton,” Russ said.
The board then discussed and approved a contract with the Kitsap Conference Center to host the 2026 Association of Washington State Public Facilities Districts conference. Staff requested authority to sign a $26,000 contract (estimated $4,000 facility fee and $22,000 for food). Director Draper moved approval; Pat seconded. The board approved the contract; the transcript records verbal approval and one abstention.
Staff said ticket pricing has not yet been posted but the plan assumes a $300 registration fee and an anticipated attendance of about 100 participants; staff reported $4,000 in sponsorships committed to offset costs. Staff also noted any net revenue from the event would go to the association, not to the host PFD.
Other business: staff reported the Port Gamble Heritage Park grand opening was postponed until after Memorial Day; the meeting adjourned at 6:15 p.m.
Next steps: staff will continue to monitor sales-tax rebates, present the June invoice and December principal/interest invoicing under the ILA, and finalize conference logistics and ticketing.
