Posted in 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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