Revenues and expenses are both down at the Port of Anacortes as a result of the ongoing COVID-19 pandemic. Port Director of Finance and Administration Jill Brownfield told the Board of Commissioners on May 6 that finances in the first quarter look about as expected.
Operating revenues were at just over $3 million, down from the almost $3.5 million in revenues in the first quarter of 2020 and from the $3.1 million budgeted this year. The biggest loss of revenue is from petroleum coke and sulfur exports, which are a bit lower than expected, Brownfield said.
All other operating areas are meeting or exceeding projections.
Expenses in the first quarter were at roughly $3.1 million, down from the $3.2 million in the first quarter of 2020 and down from the almost $3.3 million budgeted. Lower volumes means the port is spending less and also bringing in less revenue. Everything else, including cash on hand, is about where staff expected things to be at this point in the year, Brownfield said.