The Port takes a detailed look at its performance

By Bob McChesney, Executive Director, the Port of Edmonds | Mar 06, 2014
Bob McChesney

How is the Port of Edmonds doing?

Once a year we have an opportunity to see clearly the results of our efforts over the preceding 12 months. Our annual reports show in precise numbers how the Port compares to prior years and to our projections.

The Port of Edmonds is largely in the leasing business, with a smaller retail sales and service component. We lease moorage in our marina, and we lease office and warehouse space in our Harbor Square Business Campus.

The marina had excellent financial performance last year with a 95 percent occupancy rate for our in-water moorage and 94 percent for dry storage. Guest moorage activity was up slightly, as well. Fuel sales were up by 5 percent compared to 2012.

Our public launcher was a real high point of the report. It is normal for this service to operate in the red, meaning that other sectors of the Port are called upon to subsidize it. Not last year: in 2013 the Port’s public launch boasted a profit of over $12,000, largely due to a 10 percent increase in activity. The year had a spectacular fishing season, and we offered some attractive special promotions for repeat users.

Compared to other business and industrial parks, our Harbor Square Business Campus did quite well. Our 2013 average occupancy rate was 75 percent – similar to others in the area – but even on the heels of the recession our revenues increased by 2.2 percent.

Overall, the Port’s 2013 revenues were $7.7 million and our expenses were $6.7 million. The revenues were 4 percent stronger than expected and expenses were 2 percent less than we had budgeted. The Port’s ending net position was up by $89,000 from the previous year.

How did all this happen? Fundamentals actually. We improved our already high level of staff training, which produced much higher productivity and overall quality improvements.

As Port Commission president Jim Orvis put it, “Marina performance reflects the essential value that the Port provides to our constituents – our boating customers, the residents of the Port District, and the broader Edmonds and Woodway communities.

“The Commissioners and staff of the Port of Edmonds will continue to re-invest net income to maintain the quality of our facilities for future users,” he added.

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