In the recent Scuttlebutt article, Commissioner Swann, while giving a “Port Financial Update,” made the statement, “Fiscal stewardship in recent years has left the port with $ 1.6 million in the bank for a substantial contribution to the project.”
This is misleading, and factually inaccurate. In truth, the port’s fiscal stewardship has depleted the port’s reserve fund by 50 percent in the last six years; in addition, the 2017 Budget shows the Reserve Fund at $1.2 million, not $1.6 million.
The Poulsbo Boaters Association has become seriously worried for the future of the port and marina — so much so that the association recently began researching the financial history of the port over the last seven years. While early in the study, it appears clear that the port has developed a worrisome pattern of increased costs and decreasing revenues, primarily in its operational cost centers.
The association has expressed its concern to the commissioners that the port is proceeding with major financial and work plans more rapidly than necessary and without the very important cost information in hand; unfortunately, these concerns have fallen on deaf ears and the port commissioners continue their drive toward a financial cliff.
The Poulsbo Boaters Association may be contacted at PoulsboBoatersAssociation@gmail.com or on Facebook: Poulsbo Boaters Association.
Poulsbo Boaters Association