City Businesses suffer in 2009


The City Council Finance Committee will review the Comprehensive Annual Financial Report for the year ended Sept. 30, 2009. The City’s enterprises, its businesses – Utility, Sanitation, Port and Airport, had a very bad year. Before depreciation, the enterprises are down nearly $2 million. The biggest loser is the Airport, down $4.187 million but still showing a $2.9 million profit.

Utility Fund 2009: $9,324,332 2008: $10,956,762
Sanitation Fund 2009: ($855,948) 2008: ($186,789)
Port Fund 2009: ($408,885) 2008: $64,461
Airport Fund 2009: $2,953,689 2008: $7,141,221
Total 2009: $11,013,188 2009: $9,019,371

After depreciation, the picture is much worse. Total drop is $7.4 million. The airport actually loses almost $4 million. The total net income from all the businesses is only $1.57 million—it was $9 million in 2008.

After depreciation:
Utility Fund 2009: $8,191,805 2008: $9,831,472
Sanitation Fund 2009: ($1,147,321) 2008: ($429,939)
Port Fund 2009 ($1,517,794) 2008: ($1,049,384)
Airport Fund 2009 ($3,955,750) 2008: $677,222
Total 2009: $1,570,940 2008: $9,019,371

Look at the Sanitation Fund and ask yourself, isn’t time the City work a deal with ECUA to take this over?

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