Business Pensacola

City financial report shows Port of Pensacola struggling

December 19, 2017

In November, we reported on the financial problems at the Port of Pensacola. The unaudited financial statements that CFO Dick Barker gave the Pensacola City Council last week show a similar picture.

Port Fund
Revenues of $1,241,900 were below Port operating expenses of $1,963,300 by $721,400 at fiscal year end.

Net current assets, at the beginning of Fiscal Year 2017, were $1,320,800 and by fiscal year
end totaled $403,800 a decrease of $917,000. Total fund equity less bond reserves at the end of Fiscal Year 2017 were $11.4 million, a decrease of $1.5 million from beginning Fiscal Year 2017.

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  • Dale Parker December 22, 2017 at 12:42 pm

    This is because of the UNBELIEVABLE INEPTITUDE of those managing and marketing this Port. Everyone since De Luna has known that Pensacola has the best NATURAL Deep Water Port in the Northern Gulf. It has Rail and Interstate. The problem is that there has been a concerted effort to kill the port for years. It is the goal of the Foo Foo Set to have fine dining, shopping and condos there because it is their goal to put a serving Tray in everyone’s hands. God Forbid we have jobs in Pensacola paying a living wage right! No on wants that…. heck who would serve the rich then?

    It is a shame and a scam what is going on there.

    And George — you of ALL People should want REAL Opportunity. But really you have been nothing but a sell out to your community. Always with your hand out to support low go no where jobs. You should be ashamed of yourself.

    • George Hawthorne December 26, 2017 at 8:15 am

      Dale,

      The port has no ability to generate revenues from the new shipping economy of mega cargo carriers nor the equipment of depth to handle a true cargo ship operation. To continue to fund this losing enterprise is a waste of scarce city resources.

      However, a properly planned mixed-use project could attract major businesses in a “live, work,play” community. Additionally, I have always support inclusion and diversity in all economic opportunities in the area. The reality is there is very little support for programs or initiatives that seek to expand the pool of people making money from opportunities and the institutional discrimination that is pervasive throughout the public and private entities in the area.

  • NotaGOB December 20, 2017 at 3:11 pm

    You could tell the city was not interested in assisting the Port survive when it decided to make the 2 lanes each way of road leading into the facility into single lane both ways. They wanted to slow down traffic and create a pedestrian friendly environment without even considering it’s impact on port traffic. The result is making it very difficult for the large semi trucks to even get into the facility grounds without struggling to make the turn and bringing traffic on main street to a complete halt. The Port can be fixed and the trend reversed with serious leadership and a true clear business plan. A real business plan is something the Port has no had in decades and the result is obvious. The GOB’s will have there waterfront property soon enough.

  • ggh December 20, 2017 at 2:47 pm

    There is a hatchery that needs a home.

  • EPenn December 20, 2017 at 11:21 am

    Not everything can be mixed use and succeed… You do need some diversity in what is built… They have been trying to destroy the port for ages now limiting it to only a very niche of cargoes, well not even cargoes in most cases (let’s just say a noncargo, cargo port… which is a joke, but not really)… Believe it or not there are many companies which see having a port as an asset. My guess is if they close the port then GE is all but next to move out of the area. I’m sure doing in the remainder of the rail service will be next on the hit parade…

  • George Hawthorne December 20, 2017 at 10:34 am

    It’s time for the mayor to make some bald and decisive decisions and turn the port into a mixed use development project that will spur economic development and new housing opportunities downtown. Clearly, it is a waste of scarce resources to continue to fund this failing operation. The mayor needs to make some bold and decisive decisions and stop being frivolous with the taxpayers money and the port.