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If you would like to speak before the Canaveral Port Authority
Board of Commissioners during Public Comments on a topic relevant
tothe Canaveral Port Authority Commission Agenda for this meeting,
please complete a Public Comment Request card and give the cardto
the recording secretary. Public Comment Request cards are located
near the outside entry doors next to the agenda for thismeeting.
All persons speaking will follow conduct as set forth by Canaveral
Port Authority Policy POL-2016-001-EXE-3, PublicParticipation and
Conduct at Board Meetings.
1. Before approaching the podium, please remove hats and
sunglasses and turn all cell phones off or to vibrate. 2. Please
proceed to the podium when your name is called by the Commission
Chairman and state your name, business affiliation,
and city of residency for the recording secretary.3. You will
have THREE MINUTES to speak before the Board of Commissioners.4. Do
not make threats or rude comments, including the use of profanity,
to or about members of the Board or Canaveral. Port
Authority Employees.5. All statements are to be directed to the
Commission Chairman. You may not address or question Board members
or Port Staff
individually unlessdirected by the Chairman.6. Be respectful of
other people’s ideas or situation when you talk. Try not to judge
them or point fingers.7. Be patient when listening to others speak
and do not interrupt them.
No Board action will be taken on requests during Public Comments
unless determined by the Commission Chairman to be anemergency. Any
other requests for Board action may be placed on the agenda for a
subsequent meeting.
CANAVERAL PORT AUTHORITY BOARD OF COMMISSIONERS
June 24, 2020Commission Room
Port Canaveral, Florida 32920AGENDA
This meeting is open to the public.
9:00 AMCall to Order and Pledge of Allegiance
Approval of Agenda
Approval of Minutes
Consideration of approving the minutes of the May 20, 2020
Commission Meeting.05202020 Minutes.doc
Personal Appearances and Presentations
9:10 AM Time Certain: Presentation of the FY 2020 Mid-Year
Operating and CapitalBudget (Michael Poole)
FY2020 Midyear Operating Budget Narrative_06242020.pdfFY2020
BUDGET JUNE COMM MTG.pdfFINAL Midyear FY2020 Capital Narrative 6 16
20.pdfFINAL Midyear FY20 5 year capital budget and cash forecast 6
16 20.pdf
Reports
CEO Report (John Murray)
1
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Canaveral Port Authority Board of Commissioners Meeting - June
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Presentation of selected Financial Information Memo for May 2020
(Michael Poole)REPORTS_FIN_MEMO & STATEMENTS_06242020.pdf
Consideration for approval of the Financial Reports for May 2020
(Patricia Poston)A. Statistical Report B. Aging ReportC. List of
BillsD. List of Disposals - NoneE. Attorney FeesF. Commissioner
ExpensesREPORTS_FIN_STATISTICAL_06242020.pdfREPORTS_FIN_AGING_06242020.pdfREPORTS_FIN_LIST_OF_BILLS_06242020.pdfREPORTS_FIN_LEGAL
BILLS_06242020 Public.pdfREPORTS_FIN_COMMISSIONER MINOR
EXPENSES_06242020 Public.pdf
Capital Projects UpdateJUNE 2020 CAPITAL PROJECTS UPDATE.pdf
Public Comment on Consent Agenda
Consent Agenda
1. Engineering, Construction, and Facilities
1.A. Consideration of approving various project contract change
orders including:
Change Order #1 to PowerCore, Inc. for the Signal Coordination
of George KingBoulevard Project. Decrease PO P124106 by
($112,735.19) for ODP’s and unusedfunds. (Maureen Whitford/Bill
Crowe)
1A Cover Page.pdfENG_Backup_06242020_18-024 PowerCore CO1
190226.pdf
1.B. Consideration of approving Agreement(s) to utilize the
Florida Department ofEnvironmental Protection competitively bid
contracts to provide as-neededEmergency Response and Cleanup
Services to the Canaveral Port Authority withCliff Berry, Inc.
(LE809) and Alpha-Omega Training and Compliance, Inc. (LE808),with
a recommended response cap of $500,000 per incident, and
authorizing thePort Director/CEO to enter into contract(s). (Bob
Musser/Bill Crowe)1B Cover Page.pdfENG_Backup_06242020_Alpha Omega
Agreement to Piggyback Contract v 20200602 -Final Draft - Signed by
contractor.pdfENG_Backup_06242020_Clilff Berry Agreement to
Piggyback Contract 20200602 - FinalDraft - Signed by
contractor.pdf
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Canaveral Port Authority Board of Commissioners Meeting - June
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3
1.C. Consideration of approving an increase to purchase order to
Customs and BorderProtection (CBP) for the purchase, installation
and service of CBP owned andoperated security equipment in the new
Cruise Terminal-3 in an amount not toexceed $7,000.00 and a
$12,000.00 annual AT&T recurring costs. This willincrease the
purchase order to $641,907.00 and the recurring annual cost
to$43,428.00 (Bill Crowe/ Tom Foxhoven)1C Cover
Page.pdfENG_Backup_06242020_RMOA Canaveral CT3 LMR Costs 5 27
2020.pdfENG_Backup_06242020_CSO CNV005A v2.pdf
1.D. Consideration of approving a purchase order to the City of
Cocoa for the costassociated with the installation of a 6” water
meter at North Cargo Berth 8 in anamount not to exceed $142,694.88.
(Patrick Hammond/Bill Crowe)1D Cover
Page.pdfENG_Backup_06242020_2019-02-22 City of Cocoa Water Approval
Letter.pdf
1.E. Consideration of approving a purchase order to the City of
Cocoa for the costassociated with the impact fees of an 8” water
meter for berth, 2” meter forTerminal, 2inch meter for baggage
building and 2 inch meter for warehouse atCruise Terminal 3 in an
amount not to exceed $996,553.44. (Tom Foxhoven/BillCrowe)1E Cover
Page.pdfENG_Backup_ 06242020_CT3 City of Cocoa Water
Receipt.pdf
2. Human Resources
2.A. Consideration of approving revisions to the Employee
Classification Policy,POL-2014-006-HRO-32A Cover
Page.pdfPOL-2014-006-HRO-3 Employee Classification 06242020_CL (KJD
revisions)4821-9258-4639 1_Redline.pdfPOL-2014-006-HRO-3 Employee
Classification Rev 1 062420 Final Approved RM.pdfFOR-2020-001-HRO-2
Non-Employee Checklist Accessing Port Resources.pdf
3. Real Estate
3.A. Consideration of approving the First Amendment to GT USA
LLC’s LeaseAgreement for a portion of the Marlin Street Warehouse
to extend the term by 24months and transfer responsibility for the
site’s mobile trailer office to GT USA. This document has been
reviewed and approved by General Counsel and PortAttorney.
(Samantha Cornelius & Michael Zeiler)3A Cover Page.pdfRE_9003
Marlin St - First Amend - GT USA Signed 6-3-20.pdf
3.B. Consideration of approving a Temporary Construction
Easement Agreement withSpace Florida to permit the certain
intersection improvements at the intersection ofState Road (S.R.)
401 and Payne Way to facilitate the transport of space
relatedequipment from the Port heading east on S.R. 401, subject to
the terms andconditions of the Agreement and obtaining all
applicable permits and approvals.
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Canaveral Port Authority Board of Commissioners Meeting - June
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The document has been reviewed and approved by General Counsel.
(CraigLangley) 3B Cover Page.pdfRE_Temp Construction Easement_Space
Florida.pdf
3.C. Consideration of approving an Agreement Regarding Leases
consenting toleasehold mortgage refinancing, Assignment of Leases
and Rents, SecurityAgreement and Fixture Filing, by and between
Ambassador Services, Inc. (ASI)and Manufacturers and Traders Trust
Company (MTT), as well as approvingtermination of the Agreement
Regarding Leases with existing lender (BBT). Authorizing Port
Director/CEO to execute these documents. The documents havebeen
reviewed and approved by General Counsel. (Craig Langley)3C Cover
Page.pdfRE_ASI Agreement Regarding Leases.pdfRE_ASI Termination
Agreement.pdf
Public Comment
Commissioner Reports
Adjourn to next meeting scheduled Wednesday, August 26, 2020, at
9:00 am.
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Meeting Date
June 24, 2020
AGENDA ITEM REQUEST
Section:
Item Number:
Department: Commission
Requested Action: Consideration of approving the minutes of the
May 20, 2020 CommissionMeeting.
Summary Explanation & Background:
Financial Impact: No
Reviewed by General Counsel: No
Reviewed by Port Attorney: Yes
Financial Review:
Attachments:
05202020 Minutes.doc
5
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Reports – Minutes of the May 20, 2020 Commission MeetingMINUTES
OF A REGULAR COMMISSION MEETING OF THE CANAVERAL PORT AUTHORITY
HELD IN THE COMMISSIONERS’ MEETING ROOM OF THE CANAVERAL PORT
AUTHORITY OFFICE, 445 CHALLENGER ROAD, PORT CANAVERAL, FLORIDA, AND
VIRTUALLY ON-LINE DUE TO COVID 19 ON MAY 20, 2020.
The meeting was called to order by Chairman Micah Loyd at 9:02
a.m. CommissionerWayne Justice led the Pledge of Allegiance.
Those present in the Commission Room were Chairman Micah Loyd,
Commissioner Wayne Justice and Attorney Harold Bistline.
Commissioners Jerry Allender, Bob Harvey, and Robyn Hattaway joined
the meeting via GoToMeeting on-line, as did CEO Captain John
Murray, CFO Michael Poole, Vice President Engineering and
Construction Bill Crowe and Special Assistant/Liaison Melanie
Bradford.
APPROVAL OF AGENDA:
Commissioner Justice motioned to approve the agenda and
Commissioner Harveyseconded the motion. The motion passed 5/0.
APPROVAL OF MINUTES:
Commissioner Justice moved approval of the minutes from the
April 22, 2020 regular Commission meeting. The motion was seconded
by Commissioner Justice and passed 5/0.
PERSONAL APPEARANCE AND PRESENTATIONS:
Recognition of the Junior Ambassadors by Commissioner Robyn
Hattaway
COMMISSION DISCUSSION ITEM:
Consideration of approving Resolution RES-2020-007-EXE-3 in
support of Brevard County Public School's Department of Adult and
Community Education Career and Technical Education Center. (Robyn
Hattaway)
After a presentation by Jeff Arnott, Director of Adult &
Community Education for Brevard Public Schools, reading of the
resolution by Commissioner Robyn Hattaway and no public comment,
RES-2020-007-EXE-3 was motioned for approval by Jerry Allender and
seconded by Robyn Hattaway. The motion passed 5/0.
REPORTS:1. CEO Report
COVID 19: Adjusting Course: Phasing operations
Follows recommendations and guidance of federal and state phased
reopening plans
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Minutes of the Canaveral Port Authority May 20, 2020 Commission
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Some CPA employees continue to work on site, balance working
remotely and rotating in/out of Maritime Center Staff and guest
safety remain a top priority New daily health assessment through
SafetyTek implemented
Cove restaurants are open with limited indoor and outdoor dining
per Governor’s executive Orders
Over last 8 weeks staff completed projects that have increased
productivity Contactless payment at Jetty Park, website redesign,
SignNow, Netsuite
training materials, Tariff updates and review, launched new
electronic publications
Cruise Update: FY20 by the numbers (October 1 – April 30)
408 cruise ship calls 253 gaming vessel calls (no increase from
previous month) Multi-day cruise revenue – $42.1M
Current estimated return to service, subject to change Carnival
Cruise Line – August 1, 2020 Disney Cruise Line – July 28, 2020
Norwegian Cruise Line – June 30, 2020 Royal Caribbean Cruise Line –
June 12, 2020
Business Development team continues to work with all cruise
lines on the roadmap to recovery
Marella Cruise Line reconfirmed their planned US itinerary with
Marella Discovery Program Beginning May 2, 2021 with Port Canaveral
as homeport
In discussion with cruise lines not currently based at Port
Canaveral Collaborating with Cruise Line International Association
(CLIA), Florida Caribbean
Cruise Association (FCCA) in support of cruise resumption with
enhanced health and safety protocols
2021 will be a transition year for the cruise industry Roadmap
to recovery and resumption of cruise operations
Step One: Develop enhanced health and safety protocols
Government and CDC approval is key
Step Two: Address global port availability Moveable assets allow
for flexible itinerary planning
Step Three: Activate sales and marketing machine to stimulate
demand Focus on market to fill vs. discount to fill strategy
Step Four: Initiate gradual phased relaunch Expect 5-6 months
before full fleet mobilization
CPA task force developing “Cruise New Normal” objectives and
strategy Developing end-to-end strategy of the entire system in
collaboration with cruise lines
Terminal-by-terminal and line-by-line approach to achieve
curb-to-curb plan Social distancing may mean slower guest movements
Ships in port longer due to extended operations
New normal objectives Reduce congestion in terminals Reduce
lines outside of terminal Install protective measures Enhanced
facility measures
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Minutes of the Canaveral Port Authority May 20, 2020 Commission
Meeting
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Cargo Update: FY20 by the numbers (October 1 – April 30)
239 ship calls Cargo revenue – $6.2M Cargo tonnage – 3.1M
tons
Flora Schulte discharged lumber and wood pulp 1,000 units (1,965
l/t) of pulp discharged,
used in the manufacturing of paper products Could yield
approximately 8M rolls of toilet paper!
Mobile Harbor Crane leased for more than 275 hours in April
Hoegh Trader expected to arrive May 28 to discharge 597
vehicles
Recreation Update: Jetty Park Beach Phase 1 opened May 9th
7am – 8pm daily Annual passholders only 50% parking capacity
(230 cars)
Boat ramps open, truck and trailer parking open Focus remains
promoting safe environment for guests and staff
Signage reminders for 6 feet of social distancing No groups of
more than 10 people Staff wearing PPE
Focus on contactless payment systems at gate and store
Communications Update: Waypoint – A Port Canaveral
Newsletter
A digital, engaging and interactive publication released monthly
to Port subscribers
Positive engagement (likes, comments & shares) from readers
Subscribe on our website at portcanaveral.com
Adjusting Course: COVID-19 Special digital release to Port
subscribers A message to our Port partners, tenants, employees and
the Port’s extended
community Guidelines, practices and procedures for how the Port
will operate going
forward Social Media – taking our message online Overwhelming
enthusiasm for return to cruising
Almost 1.2 million reached Over 438 thousand total views More
than 88 thousand engagements (likes, comments and shares)
Government Relations Update: Staff continues to participate in
daily briefings, press conferences, and monitor federal
and state official advisories and guidance Brevard Legislative
Delegation and FDOT Secretary briefings
Florida received $8.3 Billion from CARES Act for state
stabilization Approx. $4B provided to 13 FL Counties, balance in
General Revenue
8
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Minutes of the Canaveral Port Authority May 20, 2020 Commission
Meeting
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Governor, Senate President and House Speaker have not relayed
how that money will be used
FDOT collecting “build the case” data from Ports FL
Congressional Members and Appropriations Committee briefings
Introducing legislation for seaports’ stimulus funding
Introducing legislation to make “port” an eligible local unit of
government
Engineering Update: Cruise Terminal 3
George King Blvd. widening, milling and overlay of existing road
completed May 8
Interior finishes continue to be installed HVAC undergoing
commissioning and is up and running Most furniture is on site,
stored in packing material until needed Targeting June 10 for
substantial completion
North Side Roadway Network New light fixtures being delivered by
end of May, installation by end of
August Flashing beacons for emergency vehicles crossing to be
completed mid-May
CT 8 Land Side Improvements Contractor started mobilization of
site office trailer Demolition of landscape and temporary fence
installation By end of month, contractor to start test piles at
existing plaza Relocation of DCL terminal personnel to Maritime
Center in progress
CT 8 Passenger Boarding Bridge Submittals approved, fabrication
continues Adelte working on schedule, will advise if delays
expected due to COVID-19
NCB 8 Pier Contractor completed first concrete pour for pile
cap structure Currently working on removing existing bulkhead
wall/cub at the tie-in
location to uplands Continuing to tie rebar and set formwork for
next section
of pile cap NCB 8 Uplands
Contractor completed paving of the berth and Snapper Road
Continuing to work on installation of CCTV and IT infrastructure
throughout
the project
Farewell: Fair winds and following seas to LCDR Jason Kling,
Supervisor of MSD Port
Canaveral as he leaves his post at Canaveral next weekArrived in
July 2017Led efforts to support LNG bunkering at Port
CanaveralParticipated in Port Canaveral Unified Command preparing
for and recovery following
hurricanesExpert leadership allowed quick response following the
storms; reopened within 24 hours
and allowed critical fuel supplies to be distributed throughout
Central Florida
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Minutes of the Canaveral Port Authority May 20, 2020 Commission
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Best wishes in his future role as Supervisor of the USCG Cruise
National Center of Expertise in Fort Lauderdale
2. Presentation of selected financial information memo for April
2020 (Michael Poole)
3. Consideration for approval of the Financial Reports for April
2020 (Patricia Poston)
After presentation of the financial information for April 2020
and the Financial Reportsfor April 2020 (#2 and #3), Commissioner
Allender motioned approval of the April 2020Financial Information
Memo, the Statistical Report, Aging Report, List of Bills, the
Attorney Fees and Commissioner Expenses. Commissioner Harvey
seconded themotion and the motion passed 5/0.
4. A capital projects update was given by Bill Crowe.
PUBLIC COMMENT ON CONSENT AGENDA: None
CONSENT AGENDA: Commissioner Justice motioned to approve items
1A and 2A. Commissioner Harvey seconded the motion and the motion
passed 5/0.
PUBLIC COMMENT:Public comments were received from Pam Hepp and
Luke Lowers.
COMMISSIONER REPORTS/DISCUSSION:
Commissioner Justice – May 11th was Captain Lanni’s 95th
birthday. Memorial Day and George Taylor’s death were recognized.
Looking forward towards reopening the Port.
Commissioner Harvey – Thank you to the staff and recognized
Memorial Day and the beginning of summer.
Commissioner Allender – Appreciative of the efforts of John
Murray and Staff.
Commissioner Hattaway – Recognized Leadership Brevard Grads.
Chairman Loyd – Glad things are reopening.
ADJOURMENT: The meeting was adjourned at 10:57 a.m. until the
next regularly scheduled meeting on Wednesday, June 24, 2020 which
will take place in the Commission Room practicing social
distancing.
CANAVERAL PORT AUTHORITY
____________________________________Micah Loyd, Chairman
ATTEST
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Minutes of the Canaveral Port Authority May 20, 2020 Commission
Meeting
6
__________________________________Jerry Allender,
Secretary/Treasurer
11
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Meeting Date
June 24, 2020
AGENDA ITEM REQUEST
Section:
Item Number:
Department: Finance
Requested Action: 9:10 AM Time Certain: Presentation of the FY
2020 Mid-Year Operatingand Capital Budget (Michael Poole)
Summary Explanation & Background: The proposed mid-year
revisions for the FY 2020 budget are based on recent economic
conditions.
We are proposing a net mid-year adjustment to the FY 2020
Operating budget of a decrease of $25,783,813.This consists of a
decrease in operating revenues of $48,562,220, a decrease in
operating expenses of$7,018,407, a decrease in depreciation of
$1,700,000, a decrease in non-operating revenues $120,000, an
increaseof non-operating expenses of $107,000 and an increase in
capital contributions of $14,287,000.
The revised cost for the capital projects budget for FY 2020 is
$110.8 million, with the total planned through FY2024 of $310
million. This reflects an overall reduction of ($40,330). The
largest component of this reduction isthe Master Plan for Cruise
and Cargo Projects.
Financial Impact: No
Reviewed by General Counsel: No
Reviewed by Port Attorney: No
Financial Review:
Attachments:
FY2020 Midyear Operating Budget Narrative_06242020.pdf
FY2020 BUDGET JUNE COMM MTG.pdf
FINAL Midyear FY2020 Capital Narrative 6 16 20.pdf
FINAL Midyear FY20 5 year capital budget and cash forecast 6 16
20.pdf
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Date: June 17, 2020 To: Commissioners of Port Canaveral Through:
John Murray, Chief Executive Officer From: Michael Poole, Chief
Financial Officer Subject: Proposed Mid-Year Revisions to FY2020
Operating Budget Enclosures: Detail schedule of proposed revisions
to the FY2020 Operating Budget
Operating Budget Revisions The proposed mid-year revisions for
the FY2020 budget are based on recent economic conditions. In
mid-March due to COVID-19, all four of our major Cruise Lines and
Victory Casino suspended cruise passenger activities at our Port.
Additionally, due to Government guidance, we closed Jetty Park and
Exploration Tower for a couple of months. Accordingly, Staff has
reduced operational expenses and deferred selected capital projects
to mitigate this reduction in activity. Operating Revenues Ship
Related We are forecasting Cruise Revenue to be $44,107,135 for FY
2020 which is below the original budget by $45,680,825 due to the
suspension of cruise. Victory has recently resumed its daily
sailings. Cargo revenue is estimated to be $9,483,355 for FY 2020.
This is $423,200 below the original budget and is mainly due to
less fuel consumption. As a result, the revised budget for Ship
Related revenues is $53,590,490 which is reflective of a budget
reduction of $46,104,025. Non-ship Related Non-ship related revenue
is projected to be $13,609,365 and is $2,458,195 below original
budget. Due to the temporary closure (and future uses being at
lower levels), Jetty Park revenue is being reduced by $1.2 m as
well as Exploration Tower by $221 k. Commercial Vehicle revenue is
being reduced by $641 k which is in relation to current Cruise
activity. Finally, we originally budgeted for additional tenants at
the Logistics Center and this has not occurred. Accordingly,
revised Lease revenue is estimated to be $181 k below the original
budget. Total Operating Revenues Total Operating Revenues are
projected to be $67,199,855 which results in a net decrease of
$48,562,220 being proposed.
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Operating Expenses Operating Expenses have been reduced by
$7,018,407 for FY2020. Budgeted Salaries and Benefits are being
reduced port wide by $1,207,017 which for the most part is due to
furloughed and unfilled positions for the year. A breakdown of the
major (non-salary) amendments by activity is as follows – Activity
Amount Service Contracts $2,077,845 Promotions & Advertising
$888,885 Utilities $831,095 Business Travel & Training $454,320
Maintenance & Supplies $414,590 Police Protection & Fire
Services $318,445 Computer Support & Training $236,605 Lease
Administration $217,775 Engineering $170,950 Office Expense
$142,185 Total Operating Expenses Before Depreciation and
Amortization After the proposed reduction, Total Operating Expenses
Before Depreciation projects to be $47,739,488. Operating Income
(Loss) Before Depreciation and Amortization After the amendments to
Operating Revenues and Expenses, it is estimated that there will be
an Operating Income Before Depreciation and Amortization of
$19,460,367. Depreciation and Amortization Depreciation is being
reduced by $1,700,000 for a revised annual amount of $43,300,000.
Operating Income (Loss) After the amendments to Operating Revenues
and Expenses and Depreciation, it is estimated that there will be
an Operating Loss of $24,415,633. Non-Operating Revenues
Non-Operating Revenues are estimated to be $2,425,300 and reflects
a decrease of $120,0000 due to lower forecasted investment interest
rates. Non-operating Expenses Non-Operating Expenses are estimated
to be $9,740,450 which is an increase of $106,800. Commissions and
fees are being increased for debt refinancing and new debt issuance
costs. Income (Loss) Before Capital Contributions After the
amendments to Operating and Non-Operating budget, it is estimated
that there will be a Loss Before Capital Contributions of
$31,730,983.
15
-
3
Capital Contributions The Authority is forecasted to receive
$14,287,000 in grants from the State and Federal government. Change
in Net Position When considering the above amendments, there will
be a decrease in Net Position of $17,443,983. Summary We are
proposing a net mid-year adjustment to the FY2020 budget of a
decrease of $25,783,813. This consists of a decrease in operating
revenues of $48,562,220, a decrease in operating expenses of
$7,018,407, a decrease in depreciation of $1,700,000, a decrease in
non-operating revenues $120,000, an increase of non-operating
expenses of $107,000 and an increase in capital contributions of
$14,287,000.
16
-
FinalOriginal ProposedFY2020 Proposed FY2020Budget Changes
Budget
Operating Revenues
Ship ActivityWharfage 67,397,780$ (35,079,335)$ 32,318,445$
Dockage 9,089,740 24,765 9,114,505 Parking 20,410,770 (11,036,380)
9,374,390 Line handling 1,350,845 (114,900) 1,235,945 Water
1,245,380 (239,880) 1,005,500 Cranes 200,000 341,705 541,705
Total Ship Activity 99,694,515 (46,104,025) 53,590,490
LeasingLeases 9,999,100 (180,605) 9,818,495
Total Leasing 9,999,100 (180,605) 9,818,495
Jetty ParkCamping 1,886,718 (745,523) 1,141,195 Recreational
parking 847,939 (335,059) 512,880 Camp store & laundry 120,405
(47,575) 72,830 Other recreational 158,802 (62,752) 96,050
Concessions 10,151 (4,011) 6,140
Total Jetty Park 3,024,015 (1,194,920) 1,829,095
Exploration TowerEntry fees & annual passes, net 185,430
(81,620) 103,810 Café & gift shop 121,123 (53,313) 67,810
Special event rentals 194,892 (85,787) 109,105
Total Exploration Tower 501,445 (220,720) 280,725
OtherFire training facility 300,000 (165,630) 134,370 Permits
& licenses 65,000 (5,145) 59,855 Badging 30,000 (2,375) 27,625
Commercial vehicle 1,550,000 (641,460) 908,540 Miscellaneous
598,000 (47,340) 550,660
Total Other 2,543,000 (861,950) 1,681,050
Total Operating Revenues 115,762,075$ (48,562,220)$
67,199,855$
Canaveral Port AuthorityProposed Operating Budget
For the year ending September 30, 2020
17
-
FinalOriginal ProposedFY2020 Proposed FY2020Budget Changes
Budget
Canaveral Port AuthorityProposed Operating Budget
For the year ending September 30, 2020
Operating Expenses
OperationsSalaries 3,504,920$ (601,100)$ 2,903,820$ Benefits
2,035,900 (297,317) 1,738,583 Service contracts 546,500 (158,150)
388,350 Utilities 46,000 (13,160) 32,840 Maintenance & supplies
175,500 (30,480) 145,020 Office expense 62,050 (12,090) 49,960
Trade development - - - Fuel 46,300 (36,200) 10,100 Contractual
obligations 2,850,000 (1,208,850) 1,641,150 Travel 23,400 (16,990)
6,410 Education & seminars 2,400 (2,315) 85 Other 32,900
(15,665) 17,235
Total Operations 9,325,870 (2,392,317) 6,933,553
FacilitiesSalaries 3,092,620 3,092,620 Benefits 1,763,920
1,763,920 Service contracts 2,198,900 (512,540) 1,686,360 Utilities
4,055,350 (745,050) 3,310,300 Maintenance & supplies 1,107,500
(302,400) 805,100 Office expense 23,550 3,070 26,620 Fuel 130,000
(42,000) 88,000 Travel 6,000 (4,600) 1,400 Education & seminars
3,500 (1,100) 2,400 Other 20,000 (9,000) 11,000
Total Facilities 12,401,340 (1,613,620) 10,787,720
Parks & RecreationSalaries 752,070 (148,175) 603,895
Benefits 469,420 (111,370) 358,050 Store merchandise 52,150
(19,750) 32,400 Service contracts 217,110 (680) 216,430 Utilities
243,200 (57,200) 186,000 Maintenance & supplies 15,500 5,200
20,700 Office expense 25,600 (7,020) 18,580 Advertising - 300 300
Travel 3,000 (2,760) 240 Education & seminars 3,000 (2,720) 280
Other 14,000 (5,500) 8,500
Total Parks & Recreation 1,795,050 (349,675) 1,445,375
Exploration TowerSalaries 310,770 (69,280) 241,490 Benefits
162,430 (55,520) 106,910 Store merchandise 74,500 (26,000) 48,500
Service contracts 27,300 (14,800) 12,500 Utilities 18,800 (4,600)
14,200 Exhibit fees 41,000 (27,500) 13,500 Maintenance &
supplies 1,200 840 2,040 Office expense 11,700 (7,150) 4,550
Promotions 8,300 (7,200) 1,100 Advertising 24,000 (8,000) 16,000
Trade development 4,000 (700) 3,300 Travel 2,500 (2,190) 310
Education & seminars 350 (350) - Other 750 (450) 300
Total Exploration Tower 687,600$ (222,900)$ 464,700$
18
-
FinalOriginal ProposedFY2020 Proposed FY2020Budget Changes
Budget
Canaveral Port AuthorityProposed Operating Budget
For the year ending September 30, 2020
Public SafetySalaries 495,060$ 495,060$ Benefits 158,110 158,110
Service contracts 4,000 (3,150) 850 Fire protection 2,469,985
(78,445) 2,391,540 Police protection 7,259,620 (240,000) 7,019,620
Maintenance & supplies 10,000 (7,400) 2,600 Computer support
& training - 1,600 1,600 Office expense 20,000 (16,320) 3,680
Communication services 13,000 (10,070) 2,930 Travel 32,000 (23,485)
8,515 Education & seminars 22,200 (21,410) 790 Other 8,000
(1,430) 6,570
Total Public Safety 10,491,975 (400,110) 10,091,865
Fire Training Facility
Service contracts 197,400 (13,100) 184,300 Utilities 33,900
(5,085) 28,815 Insurance 44,500 (6,675) 37,825 Maintenance &
supplies 84,250 (42,050) 42,200 Office expense 500 (75) 425
Accounting & auditing 1,000 (1,000) -
Total Fire Training Facility 361,550 (67,985) 293,565
CommissionSalaries - commissioners 54,020 54,020 Salaries -
administrative 64,010 64,010 Benefits 109,890 109,890 Legal 55,000
(10,000) 45,000 Maintenance & supplies - 10 10 Office expense
9,350 (3,320) 6,030 Promotions 7,500 (1,125) 6,375 Advertising
1,000 1,000 Travel-staff 1,500 200 1,700 Travel-commissioners
50,000 (39,550) 10,450 Education & seminars 2,200 (475)
1,725
Total Commission 354,470 (54,260) 300,210
ExecutiveSalaries 1,196,960 1,196,960 Benefits 389,430 389,430
Legal 206,000 (106,000) 100,000 Maintenance & supplies - 150
150 Office expense 172,150 24,000 196,150 Fraud hotline 2,700 2,700
Travel 26,000 (14,900) 11,100 Education & seminars 6,000
(2,785) 3,215 Engineering-general - 12,000 12,000
Total Executive 1,999,240 (87,535) 1,911,705
Finance & AccountingSalaries 1,054,420 1,054,420 Benefits
449,910 449,910 Service contracts 65,500 (35,000) 30,500 Office
expense 78,900 (27,075) 51,825 Computer support & training
1,200 (1,200) - Advertising 3,600 (2,600) 1,000 Travel 9,300
(8,270) 1,030 Education & seminars 11,400 (11,200) 200
Accounting 130,000 (5,000) 125,000
Total Finance & Accounting 1,804,230$ (90,345)$
1,713,885$
19
-
FinalOriginal ProposedFY2020 Proposed FY2020Budget Changes
Budget
Canaveral Port AuthorityProposed Operating Budget
For the year ending September 30, 2020
Administrative ServicesSalaries 2,237,100$ 15,700$ 2,252,800$
Benefits 885,150 19,220 904,370 Maintenance & supplies - 3,860
3,860 Service contracts 77,580 (18,145) 59,435 Legal 55,000 10,000
65,000 Insurance 3,025,000 53,275 3,078,275 Office expense 167,540
(37,485) 130,055 Personnel training & recruiting 142,000
(59,600) 82,400 Computer support & training 1,526,350 (238,675)
1,287,675 Advertising 4,000 (2,000) 2,000 Travel 22,650 (15,740)
6,910 Education & seminars 35,300 (14,065) 21,235
Total Administrative Services 8,177,670 (283,655) 7,894,015
Engineering & EnvironmentalSalaries 1,161,110 1,161,110
Benefits 478,190 478,190 Service contracts 95,000 (1,000) 94,000
Maintenance & supplies - 12,325 12,325 Office expense 32,120
(24,315) 7,805 Advertising 4,200 (2,500) 1,700 Travel 21,500
(19,940) 1,560 Education & seminars 19,050 (17,650) 1,400
Engineering - general 267,000 (14,000) 253,000 Engineering -
environmental 539,000 (167,950) 371,050
Total Engineering & Environmental 2,617,170 (235,030)
2,382,140
Business DevelopmentSalaries 700,330 89,325 789,655 Benefits
275,540 25,800 301,340 Maintenance & supplies - 22,905 22,905
Office expense 75,650 (17,970) 57,680 Promotions 800 (550) 250
Advertising 392,500 (226,120) 166,380 Trade development 389,600
(203,675) 185,925 Travel 145,000 (104,700) 40,300 Education &
seminars 100 (70) 30
Total Business Development 1,979,520 (415,055) 1,564,465
Tenant & Property Development Salaries 274,470 (69,825)
204,645 Benefits 82,300 (4,475) 77,825 Service contracts 300 820
1,120 Utilities 10,000 (6,000) 4,000 Maintenance & supplies -
450 450 Office expense 4,550 (2,365) 2,185 Land use planning 15,000
(2,250) 12,750 Lease administration & preparation 485,000
(217,775) 267,225 Promotions 1,000 (890) 110 Travel 3,000 (2,955)
45 Education & seminars 3,000 (3,000) -
Total Tenant & Property Dev. 878,620 (308,265) 570,355
Government & Strategic Communications Salaries 617,570
617,570 Benefits 193,220 193,220 Maintenance & supplies - 200
200 Office expense 21,600 (4,000) 17,600 Computer support &
training - 1,670 1,670 Planning and Studies 50,000 (44,700) 5,300
Promotions 262,500 (222,500) 40,000 Publications 125,000 (114,000)
11,000 Electronic media 175,000 1,260 176,260 Advertising 70,000
(43,585) 26,415 Sponsorships 110,000 (55,000) 55,000 Travel 30,000
(13,000) 17,000 Professional services 216,300 216,300 Education
& seminars 12,400 (4,000) 8,400
Total Government & Strategic Communications 1,883,590$
(497,655)$ 1,385,935$
20
-
FinalOriginal ProposedFY2020 Proposed FY2020Budget Changes
Budget
Canaveral Port AuthorityProposed Operating Budget
For the year ending September 30, 2020
Total Operating Expenses Before Amortization and Depreciation
54,757,895$ (7,018,407)$ 47,739,488$
Operating Income (Loss) Before Amortization and Depreciation
61,004,180 (41,543,813) 19,460,367
AmortizationMaintenance dredging 199,785 199,785
Computer software 205,920 205,920 Master plan 170,295 170,295
Total Amortization 576,000 - 576,000
Depreciation 45,000,000 (1,700,000) 43,300,000
Operating Income (Loss) 15,428,180$ (39,843,813)$
(24,415,633)$
Non-Operating RevenuesInterest income 1,650,000$ (120,000)$
1,530,000$ Income from grant administration 895,300 895,300
Non-Operating Revenues 2,545,300 (120,000) 2,425,300
Non-operating expensesAmortization of bond discounts 175,130$
175,130$ Commissions & fees 100,200 260,000 360,200 Interest
9,035,320 9,035,320 Grant administration fees 60,000 60,000
Litigation expense 263,000 (153,000) 110,000
Non-operating expenses 9,633,650 107,000 9,740,650
Income (Loss) Before Capital Contributions 8,339,830
(40,070,813) (31,730,983)
Capital Contributions - 14,287,000 14,287,000
Change in Net Position $ 8,339,830 $ (25,783,813) $
(17,443,983)
21
-
FinalOriginal ProposedFY2020 Proposed FY2020Budget Changes
Budget
Canaveral Port AuthorityProposed Operating Budget
For the year ending September 30, 2020
Ship related revenueCruise operations 89,787,960$ (45,680,825)$
44,107,135$ Cargo operations 9,906,555 (423,200) 9,483,355
Total ship related 99,694,515 (46,104,025) 53,590,490 Non-ship
related Leases 9,999,100 (180,605) 9,818,495 Park operations
3,024,015 (1,194,920) 1,829,095 Fire training facility 300,000
(165,630) 134,370 Exploration tower 501,445 (220,720) 280,725
Commercial vehicle 1,550,000 (641,460) 908,540 Badging, permits,
etc. 693,000 (54,860) 638,140
Total non-ship related 16,067,560 (2,458,195) 13,609,365
TOTAL OPERATING REVENUES 115,762,075 (48,562,220) 67,199,855
TOTAL OPERATING EXPENSES BEFORE AMORTIZATION AND DEPRECIATION
54,757,895 (7,018,407) 47,739,488
OPERATING INCOME (LOSS) BEFORE AMORTIZATION AND DEPRECIATION
61,004,180 (41,543,813) 19,460,367
AMORTIZATION AND DEPRECIATION 45,576,000 (1,700,000)
43,876,000
OPERATING INCOME (LOSS) 15,428,180 (39,843,813) (24,415,633)
TOTAL NON-OPERATING REVENUES 2,545,300 (120,000) 2,425,300
TOTAL NON-OPERATING EXPENSES 9,633,650 107,000 9,740,650
INCOME (LOSS) BEFORE CAPITAL CONTRIBUTIONS 8,339,830
(40,070,813) (31,730,983)
CAPITAL CONTRIBUTIONS - 14,287,000 14,287,000 CHANGE IN NET
POSITION 8,339,830$ (25,783,813)$ (17,443,983)$
22
-
June 17, 2020 To: Commissioners of Port Canaveral Through: John
Murray, Chief Executive Officer From: Patricia Poston, Sr. Director
of Finance Subj: Remarks on the Revised Proposed FY2020-FY2024
Capital Budget and
Cash Flow Projections
Enclosures Enclosed is a copy of the Revised - Proposed
FY2020-FY2024 Capital Budget and Cash Flow Projections. This
document has been updated to reflect changes in the FY20 Operating
Budget requested for the midyear revision, and revised capital
project costs. It is to be used as a tool to review the current
approved projects in place, and plan for future investments into
growing and improving the infrastructure of the Port. The revised
cost for capital projects considered for FY20 is $110.8 million,
with the total planned through FY24 of $310 million. This reflects
an overall reduction of ($40,330). The largest component of this
reduction is the Master Plan for Cruise and Cargo Projects with a
reduction of $30,000,000. The Unrestricted Cash for FY20 is now
estimated at $61 million, and remains steady at an annual average
of $63 million over the next 5 years. The Cash Flow and 5 Year Plan
is a fluid document, used as a tool for planning and management. We
monitor all components of the current economic changes while
comparing the change and effect on our financial standing and plan
accordingly.
Sincerely, Patricia G. Poston Patricia G. Poston Senior Director
of Finance
23
-
Description FY20 FY21 FY22 FY23 FY24 TOTAL Operating revenues
67,200 88,321 124,553 127,567 135,470 543,110
Operating expenses (91,615) (90,967) (93,459) (99,322) (106,778)
(482,141)
Net operating income (24,415) (2,646) 31,094 28,244 28,692
60,969Add Non-cash Items:Depreciation and amortization 43,876
43,876 48,324 49,290 50,276 235,641
Change in Assets/Liabilities 1,500 1,500 1,500 1,500 1,500 7,500
Net cash provided by operating activities 20,961 42,730 80,918
79,034 80,468 304,110
Non-Capital Grant Funding net of fees 300 300 300 300 300
1,500
Net cash provided by non-capital financing 300 300 300 300 300
1,500
Capital Grant Funding net of accrual 14,287 225 33,000 4,000
4,000 55,512Gain on sale/disposal assets 50 50 50 50 50 250Revenue
/Parity Bond Proceeds 100,901 18,000 0 118,901Line of Credit Draws
11,000 10,000 21,000Other 150 150 150 150 150 750Reduction pymt on
LOC 0 (11,000) (11,000) (11,000) (11,000) (44,000)Debt Service
Payments (27,002) (29,114) (29,395) (29,400) (29,400) (144,312)
Capital project requirements-net of capitalized items (110,771)
(19,841) (80,083) (50,005) (48,989) (309,688)
Net cash used in capital/related financing activity (11,385)
(41,530) (77,278) (86,205) (85,189) (301,587)Net Cash provided from
investing activities 1,650 1,500 1,500 1,500 1,500 7,650Net
increase (decrease) in cash 11,526 2,999 5,439 (5,371)
(2,921)Beginning cash 61,282 72,807 75,807 81,246 75,875
Ending Cash Available 72,807 75,807 81,246 75,875 72,955
Restricted Cash 12,295 12,295 12,295 12,295 12,295Unrestricted
Cash $60,512 $63,511 $68,951 $63,580 $60,660
Canaveral Port Authority
(In Thousands)
Proposed Revision
FY2020 Cash Flow & 5 Year Plan Estimates
Capital Budget and Cash Flow Projections FY20
24
-
Line No.
Proj # Project FY2020 FY2021 FY2022 FY2023 FY2024 TOTAL
1 1100 Road Improvements 1,491 50 2,575 300 300 4,7152 1180
Security Fencing/Lighting 65 0 964 65 65 1,1593 1340 Maintenance
Dredging 0 0 3,250 0 0 3,2504 1380 Other Computer Equipment 1,447
240 881 100 100 2,7685 1530 Park Upgrades 497 0 3,405 0 0 3,9026
1560 Improve Piers,Bldgs,Structures 614 0 5,542 500 0 6,6567 1580
Fire Equipment 93 46 342 48 574 1,1038 1582 Fire Training Equipment
25 0 25 25 25 1009 1590 Utilities and Improvements 110 0 0 0 0
110
10 1600 Minor Equipment 50 0 50 50 50 20011 1610 New/Replacement
Vehicles 627 0 1,304 552 361 2,84412 1622 Welcome Center 15 0 0
4,000 0 4,01513 1640 CT Furniture/Equipment 50 50 650 50 50 85014
1641 Terminal Mitigation 900 450 0 0 0 1,35015 1710 Stormwater
Improvements NPDES 0 80 875 250 0 1,20516 1711 Reuse Irrigation
System 0 65 0 0 0 6517 1842 North Cargo Pier 8 9,457 0 2,665 0 0
12,12218 1860 Financial System Upgrade 112 0 15 0 0 12719 2005 Cove
Roads Phase 2 24 0 0 0 0 2420 2010 Equipment 554 515 50 50 50
1,21921 2030 CT 5 Terminal Upgrades 380 0 2,000 0 0 2,38022 2042
CT10 Terminal Improvements 166 250 0 0 0 41623 2075 Maritime Ctr
Tenant Improvement 319 0 1,070 2,988 0 4,37724 2091 CT# 8
Renovations 17,513 18,000 10,000 0 0 45,51325 2126 Section 103
Project 0 0 0 545 0 54526 2128 WTB Channel Entrance Phase 2 6 0 0
3,147 0 3,15327 2217 PSGP FY2017 Projects 303 0 0 0 0 30328 2218
Public Safety Projects 594 0 0 0 0 59429 2219 PSGP 2019 Projects
4,950 0 1,306 0 0 6,25630 2230 CT1 Cruise Terminal 1 Imp. 14 0 0 0
0 1431 2240 North Cargo Berth 4 0 0 0 16,784 17,500 34,28432 2241
North Cargo Berth 3 125 0 36,269 0 0 36,39433 2266 Auto Terminal 61
0 0 0 0 6134 2271 Cruise Terminal 3 68,388 0 0 0 0 68,38835 2273
Contingency New Projects/Lease 0 0 500 500 500 1,50036 2274 NCP 3-A
Barge Berth 2 0 0 0 0 237 2275 North Cargo Power Project 64 0 0 0 0
6438 2276 Portwide Wayfinding 687 0 0 0 0 68739 2279 CT Pax Bridge
Renovation 352 0 696 0 0 1,04840 2280 Bollards at Terminals 4 0 35
0 0 3941 2285 Mobile Harbor Crane 32 0 0 0 0 3242 2286 Security
Items 639 0 0 0 0 63943 2287 Mobile Harbor Crane FY2020 2 0 0 0
9,363 9,36644 2289 LNG Fire Trainer Expansion 16 0 2,084 0 0
2,10045 2290 CBP Tech Upgrades 5 95 50 50 50 25046 2292 Westside
Infrastructure 19 0 3,481 0 0 3,500
47 0 0 0 20,000 15,000 35,001
48 0 0 0 5,000 5,000
Total 110,771 19,841 80,083 50,005 48,989 309,687
Master Plan - Cargo Projects
5-Year Capital Projects FY2020(In Thousands)
Proposed Revision
Master Plan - Cruise Terminal Projects
25
-
Line No. Master Project
FY2020 Carryfor
ward Balance on PO
Issued in
FY2020 NEW
Projects
FY2020 NEW
Projects Port
Revenues State
Grants Federal Grants
Port Financin
g TOTAL
FUNDING 1 1100 Road Improvements 1,339 151 1,491 991 500 1,491 2
1180 Security Fencing/Lighting - 65 65 65 65 3 1380 Other Computer
Equipment 176 1,271 1,447 1,447 1,447 4 1530 Park Upgrades 239 258
497 497 497 5 1560 Improve Piers,Bldgs,Structures 77 537 614 614
614 6 1580 Fire Equipment - 93 93 93 93 7 1582 Fire Training
Equipment - 25 25 25 25 8 1590 Utilities and Improvements 55 55 110
110 110 9 1600 Minor Equipment - 50 50 50 50
10 1610 New/Replacement Vehicles - 627 627 627 627 11 1622
Welcome Center 15 - 15 15 15 12 1640 CT Furniture/Equipment - 50 50
50 50 13 1641 Terminal Mitigation - 900 900 900 900 14 1842 North
Cargo Pier 8 3,855 5,603 9,457 3,393 6,064 9,457 15 1860 Financial
System Upgrade - 112 112 112 112 16 2005 Cove Roads Phase 2 24 - 24
24 24 17 2010 Equipment 197 357 554 401 153 554 18 2030 CT 5
Terminal Upgrades 206 174 380 380 380 19 2042 CT10 Terminal
Improvements 124 42 166 166 166 20 2075 Maritime Ctr Tenant
Improvement 56 262 319 319 319 21 2091 CT# 8 Renovations 1,942
15,571 17,513 - 17,513 17,513 23 2128 WTB Channel Entrance Phase 2
- 6 6 6 6 24 2217 PSGP FY2017 Projects 19 284 303 76 227 303 25
2218 Public Safety Projects 566 29 594 331 264 594 26 2219 PSGP
2019 Projects - 4,950 4,950 2,371 1,500 1,079 4,950 27 2230 CT#1
Cruise Terminal - 14 14 14 14 28 2241 North Cargo Berth 3 - 125 125
125 125 29 2266 Auto Terminal - 61 61 61 61 30 2271 Cruise Terminal
3 68,388 - 68,388 - 4,260 64,128 68,388 31 2274 NCP 3-A Barge Berth
- 2 2 2 2 32 2275 North Cargo Power Project 64 - 64 64 64 33 2276
Portwide Wayfinding 687 - 687 687 687 34 2279 CT Pax Bridge
Renovation 46 306 352 352 352 35 2280 Bollards at Terminals 4 - 4 4
4 36 2285 Mobile Harbor Crane 32 - 32 32 32 37 2286 Security Items
- 639 639 399 240 639 38 2287 Mobile Harbor Crane FY2020 2 - 2 2 -
2 39 2289 LNG Fire Trainer Expansion - 16 16 16 16 40 2290 CBP Tech
Upgrades - 5 5 5 5 41 2292 Westside Infrastructure - 19 19 19
19
-
Overall Total 78,113 32,658 110,771 14,843 12,564 1,723 81,641
110,771
Funding Sources
Canaveral Port AuthorityFY2020 Capital Budget with Funding
Sources
(In Thousands)
PROPOSED REVISED BUDGET
26
-
Meeting Date
June 24, 2020
AGENDA ITEM REQUEST
Section:
Item Number:
Department: Executive
Requested Action: CEO Report (John Murray)
Summary Explanation & Background:
Financial Impact: No
Reviewed by General Counsel: No
Reviewed by Port Attorney: No
Financial Review:
Attachments:
27
-
Meeting Date
June 24, 2020
AGENDA ITEM REQUEST
Section:
Item Number:
Department: Finance
Requested Action: Presentation of selected Financial Information
Memo for May 2020 (MichaelPoole)
Summary Explanation & Background:
Financial Impact: No
Reviewed by General Counsel: No
Reviewed by Port Attorney: No
Financial Review:
Attachments:
REPORTS_FIN_MEMO & STATEMENTS_06242020.pdf
28
https://legistarweb-production.s3.amazonaws.com/uploads/attachment/pdf/623767/REPORTS_FIN_MEMO___STATEMENTS_06242020.pdf
-
MEMORANDUM TO: John Murray, CEO FROM: Michael Poole, CFO DATE:
June 16, 2020 SUBJECT: Unaudited financial results – FY 2020
May
The following is a summary of the financial results for FY
2020:
REVENUES
Operating Revenues
In mid-March due to COVID-19, all four of our major Cruise Lines
and Victory Casino suspended cruise passenger activities at our
Port. Additionally, due to Government guidance, we also closed
Jetty Park and Exploration Tower. The financials presented
represent the reduction of activity for this time period. Victory
Casino has recently started their sailings again and Jetty Park and
Exploration Tower have reopened.
As previously noted, staff has reduced operational expenses
(contractual services, travel, utilities, supplies, staff, etc.)
and is performing cash management measures (including capital
project deferrals) to mitigate this reduction in activity. A
mid-year budget amendment is being presented at the June Board
meeting.
For the Year to Date, Operating Revenues are $59.7 m, which is a
decrease of $10.5 m when compared to the FY 2019 actual amount of
$70.2 m. The Operating Revenues are below the budgeted amount by
$17.7 m.
Cruise Revenue:
Total cruise (including parking) of $43.2 m is below FY 2019 by
$10.5 m. It is below budget by $16.8 m. We have had 2.3 m multi-day
passengers in FY 2020 as compared to 3.1 m multi-day passengers in
FY 2019.
Cargo Revenue: Cargo revenue of $6.9 m through May is $755 k
above prior year. Limestone, Granite, Lumber, Heavy Lift, Space and
Dockage are above prior year with Slag being below. As compared to
budget, Cargo was $369 k above budget mainly due to bulk
materials.
Non-ship Revenue: Total non-ship revenues of $9.5 m are $735 k k
below prior year and $1.3 m below budget. This is mainly due to the
reduction in Jetty Park and commercial vehicle fees.
29
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2
EXPENSES
Operating Expenses Before Depreciation:
Operating expenses are 10% or $3.5 m below budget with savings
in utilities, service contracts, maintenance, travel and
promotions. Operating expenses are above prior year mainly due to
contractual obligations.
Operating Income (Loss) Before Depreciation:
Operating Income Before Depreciation is $27.4 m and $12.9 m
below prior year while being $14.3 m below budget.
Depreciation:
Depreciation and Amortization are above prior year by nearly
$1.5 m due to several large capital projects being added to fixed
assets.
Operating Income (Loss):
The Operating Loss through May for Fiscal Year 2020 is $1.8
m.
Non-Operating Revenues:
Non-operating revenues consist of earnings on cash balances,
revenues from grant administration, and gain on equipment disposal.
Total revenues from this source for FY 2020 are $1.8 m and are
below prior year by $1 m due to decreased interest income relating
to the spend down of our bond/loan construction proceeds.
Non-Operating Expenses:
Non-operating expenses consists primarily of interest and debt
issuance costs on bonds and loans. For Fiscal Year 2020, this
amount is $6.6 m which is $121 k above budget due to issuance costs
related to refundings completed in December.
Income (Loss) Before Capital Contributions:
The Loss Before Capital Contributions through May for Fiscal
Year 2020 is $6.6 m.
Capital Contributions:
Capital Contributions are Federal and State grants received for
capital projects and are $5.7 m.
Change in Net Position:
Net Position has decreased by $1 m through May for Fiscal Year
2020.
Attachments –
Income Statement – May 2020
Statements of Net Position – May 2020
30
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Current Month Actual
Current Month Budget
Budget Variance
Prior Year Month Actual
Current YTD Actual
Current YTD Budget
Budget Variance
Prior Year Actual
REVENUESCruise 442,200 5,577,573 (5,135,373) 5,198,973
33,874,765 46,250,186 (12,375,421) 40,933,164 Cruise Parking 1,679
1,849,601 (1,847,922) 1,912,794 9,374,388 13,812,159 (4,437,771)
12,848,462 Cargo 765,455 825,547 (60,092) 821,769 6,973,341
6,604,376 368,965 6,218,249
1,209,334$ 8,252,721$ (7,043,387)$ 7,933,536$ 50,222,494$
66,666,721$ (16,444,227)$ 59,999,875
Leases 773,169$ 811,349$ (38,180)$ 802,863$ 6,499,856$
6,777,062$ (277,206)$ 6,035,633 Recreation 24,371 245,871 (221,500)
305,220 1,613,170 2,359,125 (745,955) 2,385,160 Miscellaneous
(22,467) 177,975 (200,442) 224,005 1,346,914 1,637,920 (291,006)
1,774,503
775,073$ 1,235,195$ (460,122)$ 1,332,088$ 9,459,941$ 10,774,107$
(1,314,167)$ 10,195,295
TOTAL OPERATING REVENUES 1,984,407$ 9,487,916$ (7,503,509)$
9,265,624$ 59,682,434$ 77,440,828$ (17,758,394)$ 70,195,170
EXPENSESOperations 357,764 742,316 (384,552) 511,043 5,581,055
6,289,193 (708,138) 4,259,184 Facilities 781,507 974,877 (193,370)
871,507 7,040,478 8,132,440 (1,091,962) 7,041,004 Parks and
Recreation 51,408 141,874 (90,466) 132,578 1,002,313 1,180,100
(177,787) 1,009,262 Exploration Tower 14,348 52,449 (38,101) 50,824
334,172 454,719 (120,547) 394,254 Public Safety 806,001 854,172
(48,171) 801,303 6,816,405 6,884,002 (67,597) 6,399,595 Fire
Training Facility 13,404 30,126 (16,722) 18,581 176,170 241,008
(64,838) 183,738 Commission 23,852 28,268 (4,416) 26,159 199,575
236,388 (36,813) 207,899 Executive 129,844 156,487 (26,643) 162,324
1,113,270 1,262,554 (149,284) 1,212,121 Finance & Accounting
153,825 126,420 27,405 116,151 1,114,088 1,175,058 (60,970)
1,121,862 Administrative Services 599,137 652,748 (53,611) 507,678
5,127,533 5,315,782 (188,249) 4,407,512 Engineering &
Environmental 214,657 207,322 7,335 162,779 1,526,981 1,585,471
(58,490) 1,297,602 Business Development 100,374 149,263 (48,889)
163,980 1,082,370 1,364,593 (282,223) 1,137,080 Tenant &
Property Development 41,254 64,435 (23,181) 57,584 435,902 590,664
(154,762) 427,574 Government & Strategic Comm. 67,027 150,620
(83,593) 108,466 765,842 1,065,135 (299,293) 732,914
OPERATING EXPENSES BEFORE DEPRECIATION 3,354,402 4,331,377
(976,975) 3,690,957 32,316,153 35,777,107 (3,460,954)
29,831,602
OPERATING INCOME (LOSS) BEFORE DEPRECIATION (1,369,995)
5,156,539 (6,526,534) 5,574,667 27,366,282 41,663,721 (14,297,439)
40,363,568 Depreciation 3,652,628 3,798,000 (145,372) 3,469,294
29,221,021 30,384,003 (1,162,982) 27,754,354
OPERATING INCOME (LOSS) (5,022,623) 1,358,539 (6,381,162)
2,105,373 (1,854,739) 11,279,718 (13,134,457) 12,609,214
NON-OPERATING REVENUES 172,325 137,500 34,825 392,779 1,832,801
1,547,650 285,151 2,891,874
NON-OPERATING EXPENSES 750,753 814,712 (63,959) 838,681
6,633,804 6,512,358 121,446 7,258,872
INCOME (LOSS) BEFORE CAPITAL CONTRIBUTIONS (5,601,050)$ 681,327$
(6,282,377)$ 1,659,471$ (6,655,742)$ 6,315,010$ (12,970,752)$
8,242,216$
Capital contributions - - - 4,875 5,654,863 - 5,654,863
5,732,869
CHANGE IN NET POSITION (5,601,050)$ 681,327$ (6,282,377)$
1,664,346$ (1,000,879)$ 6,315,010$ (7,315,889)$ 13,975,085$
Canaveral Port AuthorityIncome Statement YTD
May 2020
TOTAL SHIP RELATED OPERATING REVENUES
TOTAL NON-SHIP RELATED OPERATING REVENUES
31
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May 2020 May 2019ASSETS
CURRENT ASSETS
Cash and cash equivalents 81,201,366$ 46,706,361$ Cash and cash
equivalents - restricted 47,369,179 129,740,923 Investments 470,444
469,974 Accounts receivable, net 2,270,422 7,142,595 Prepaid
expenses 1,105,742 961,030 Due from other governmental units
3,566,170 5,270,147 Inventory 488,940 118,677 Other receivables,
current 73,022 155,060
TOTAL CURRENT ASSETS 136,545,285$ 190,564,766$
NONCURRENT ASSETS
Cash & cash equivalents - restricted 12,152,138 12,152,138
Other receivables, long term 507,333 536,661 Capital Assets, Net of
Accumulated Depreciation 699,359,358 607,825,736
TOTAL NONCURRENT ASSETS 712,018,829$ 620,514,534$
TOTAL ASSETS 848,564,114$ 811,079,301$
DEFERRED OUTFLOWS OF RESOURCES 511,712$ 548,092$
LIABILITIES AND NET POSITION
CURRENT LIABILITIES
Accounts payable and accrued expenses 10,281,256$ 4,314,018$
Accrued compensated balances 830 - Unearned Revenue 1,749,846
1,769,993 Payroll and sales tax payable (17,444) 181,561 Revenue
bonds payable, current - 10,295,350 Line of credit 14,949,729
15,985,543 Other liabilities, current 72,619 123,627 Payable from
restricted assets: Accrued interest payable - 4,762,991 Revenue
bonds payable, current - 250,000
TOTAL CURRENT LIABILITIES 27,036,836$ 37,683,081$
NONCURRENT LIABILITIES
Revenue bonds payable, less current portion 406,011,984$
383,745,721$ Line of credit 30,786,492 14,574,632 Other noncurrent
liabilities 3,584,865 3,534,954
TOTAL NONCURRENT LIABILITIES 440,383,341$ 401,855,307$
TOTAL LIABILITIES 467,420,177$ 439,538,388$
NET POSITION
Invested in capital assets, net of related debt 295,353,296$
313,263,505$ Restricted for future debt service 12,152,138
12,152,138 Unrestricted 73,871,507 46,673,362
TOTAL NET POSITION 381,376,941$ 372,089,005$
TOTAL LIABILITIES AND NET POSITION 849,075,826$ 811,627,393$
Canaveral Port AuthorityStatements of Net Position
May 2020
32
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Meeting Date
June 24, 2020
AGENDA ITEM REQUEST
Section:
Item Number:
Department: Finance
Requested Action: Consideration for approval of the Financial
Reports for May 2020 (PatriciaPoston)
A. Statistical Report
B. Aging Report
C. List of Bills
D. List of Disposals - None
E. Attorney Fees
F. Commissioner Expenses
Summary Explanation & Background:
Financial Impact: No
Reviewed by General Counsel: No
Reviewed by Port Attorney: No
Financial Review:
Attachments:
REPORTS_FIN_STATISTICAL_06242020.pdf
REPORTS_FIN_AGING_06242020.pdf
REPORTS_FIN_LIST_OF_BILLS_06242020.pdf
REPORTS_FIN_LEGAL BILLS_06242020 Public.pdf
REPORTS_FIN_COMMISSIONER MINOR EXPENSES_06242020 Public.pdf
33
https://legistarweb-production.s3.amazonaws.com/uploads/attachment/pdf/622677/REPORTS_FIN_STATISTICAL_06242020.pdfhttps://legistarweb-production.s3.amazonaws.com/uploads/attachment/pdf/622776/REPORTS_FIN_AGING_06242020.pdfhttps://legistarweb-production.s3.amazonaws.com/uploads/attachment/pdf/622678/REPORTS_FIN_LIST_OF_BILLS_06242020.pdfhttps://legistarweb-production.s3.amazonaws.com/uploads/attachment/pdf/622679/REPORTS_FIN_LEGAL_BILLS_06242020_Public.pdfhttps://legistarweb-production.s3.amazonaws.com/uploads/attachment/pdf/622681/REPORTS_FIN_COMMISSIONER_MINOR_EXPENSES_06242020_Public.pdf
-
34
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YTD FY2020 YTD FY2019 % May 2020 May 2019 % Cargo 266 248 7.26%
27 30 -10.00% Layberth / Other 39 23 69.57% 2 5 -60.00% Cruise
& Gaming 690.5 930.5 -25.79% 30.0 119 -74.79%
995.5 1,201.5 -17.15% 59.0 154 -61.69%3,304.5 1,601 106.40%
397.0 194 104.64%
Aggregate 659,920 643,202 2.60% 79,590 124,926 -36.29%Containers
4,842 4,054 19.44% 418 238 75.59%Dry Bulk Cargo 552,082 686,616
-19.59% 89,496 109,802 -18.49%General Misc / Break Bulk Cargo
20,577 12,241 68.10% 3,944 2821 39.82%Juice 1,572 3,266 -51.88% 0
1926 -100.00%Lumber ( 164,595 1000'sBF / 143,435 1000'sBF)242,391
212,796 13.91% 37,550 27,904 34.57%Machinery, Equipment (W/M) 3,092
910 239.67% 0 64 -100.00%Newsprint 41,916 42,034 -0.28% 5,022
-100.00%Petroleum 1,898,965 2,810,101 -32.42% 146,259 313,110
-53.29%Ro/Ro (3,246 / 6,406) 10,078 19,033 -47.05% 1,172 1,461
-19.74%
3,435,433 4,434,252 -22.53% 358,430 587,274 -38.97% 6,459,338$
5,981,041$ 8.00% 711,797$ 791,456$ -10.06%
514,002$ 237,209$ 116.69% 53,658$ 30,313$ 77.01%GRAND TOTAL
CARGO / OTHER REVENUE: 6,973,341$ 6,218,249$ 12.14% 765,455$
821,769$ -6.85%
CONTAINERS-# LOAD 349 TEU'S 359 363 TEU'S 370 29 TEU'S 29 20
TEU'S 20 CONTAINERS-# EMP'Y 841 TEU'S 842 378 TEU'S 380 67 TEU'S 68
17 TEU'S 17
CANAVERAL PORT AUTHORITYSTATISTICAL REPORT FOR May 2020
Updated: 6/14/20SHIP CALLS:
TOTAL SHIP CALLS:SHIP DAYS ON BERTH:
CARGO TONNAGE (short tons):
TOTAL CARGO TONNAGE:CARGO REVENUE:LAYBERTH/OTHER REVENUE:
35
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YTD FY2020 YTD FY2019 % May 2020 May 2019 %* Rev. Psgrs. = both
embarking and disembarking passengers
MULTI-DAY CRUISE PASS'GERS: PSGRS VOY'G PSGRS VOY'G * PSGRS
VOY'G PSGRS VOY'GCarnival Cruise Lines
Breeze - HP 180,993 27 286,781 33 -36.89% 34,839 4
-100.00%Elation - HP 163,180 38.5 18,260 4 793.65% 18,260 4
-100.00%Liberty - HP 319,003 51 477,252 69 -33.16% 62,872 9
-100.00%Magic - HP 3Sunshine - HP 206,394 31 -100.00% 17,676 3
-100.00%Victory - HP 1CCL Victory Dry Dock Support Vessels 3Aida
Diva (CCL Affiliate) - POC 1,988 1 1,994 1 -0.30%Aida Luna (CCL
Affiliate) - POC 6,813 3 6,906 3 -1.35%Aurora (CCL Affiliate) - POC
1,740 1 100.00%Queen Victoria (CCL Affiliate) - POC 1,859 1 1,850 1
0.49%Veendam (CCL Affiliate) - POC 1,037 1 983 1 5.49%Ventura (CCL
Affiliate) - POC 2,958 1 -100.00%Zaandam (CCL Affiliate) - POC
1,066 1 100.00%Zuiderdam (CCL Affiliate) - POC 1,659 1 -100.00%
Disney Cruise LinesDream - HP 353,545 59.5 533,717 70 -33.76%
4.0 67,129 9 -100.00%Fantasy - HP 173,178 31.5 251,573 34.5 -31.16%
1 27,545 4.0 -100.00%Magic - POC 5,106 11 7,820 3 -34.71% 1Wonder -
HP 29,751 6 -100.00%
Norwegian Cruise LinesBliss - POC 45,839 10 100.00%Breakaway -
HP 132,425 18 100.00% 1Dawn - POC 2 2,721 1 -100.00% 2 2,721 1
-100.00%Epic - HP 3,918 2 209,743 24 -98.13%Escape - POC 4,969 3
83,704 17 -94.06%Gem - POC 2,711 2 10,985 4 -75.32% 1Getaway - POC
2 9,738 2 -100.00% 2Jade - POC 2,915 1 -100.00%Pearl - POC 2,249 1
2,999 1 -25.01%Spirit - HP 1Sun - HP 134,428 40.5 59,783 15 124.86%
2 37,120 9 -100.00%Crystal Symphony (NCL Affiliate) - POC 668 1
-100.00%
Insignia (NCL Affiliate) 3 558 1 -100.00% 3Marina (NCL
Affiliate) - POC 1,000 1 -100.00%Seven Seas Explorer (NCL
Affiliate) - POC 1Seven Seas Navigator (NCL Affiliate) - POC 399 1
-100.00%
Other Cruise Lines - POC Amadea - POC 487 1 -100.00%Spirit of
Discovery - POC 512 1 100.00%
Royal Caribbean Int'lAdventure of the Sea - POC 2,823 1 2,786 1
1.33%Anthem of the Seas - POC 41,496 9 57,319 12 -27.61%Enchantment
of the Seas - HP 321,425 62 -100.00% 2,683 1 -100.00%Grandeur of
the Seas - POC 25,751 12.5 16,739 8 53.84%Harmony of the Seas - HP
292,727 32.5 55,456 5 427.85% 3.0 55,456 5 -100.00%Mariner of the
Seas - HP 353,520 49.5 57,742 8 512.24% 57,742 8 -100.00%Navigator
of the Seas - POC 2,134 1 -100.00%Oasis of the Seas - HP 2 316,942
26 -100.00% 2Rhapsody of the Seas - POC 3,152 1 -100.00%Symphony of
the Seas - POC 5,141 1 -100.00%Mein Schiff 1 (RCI Affiliate) - POC
8,555 3 100.00%Mein Schiff 6 (RCI Affiliate) - POC 7,342 3
-100.00%
2,261,431 429.5 3,059,776 456.5 -26.09% 0 22.0 384,043 57.0
-100.00%
Victory 1 91,973 261 171,966 474 -46.52% 1,849 8 22,770 62
-91.88% TOTAL GAMING VESSEL PASSENGERS: 91,973 261 171,966 474
-46.52% 1,849 8 22,770 62 -91.88% TOTAL CRUISE/GAMING PASSENGERS:
2,353,404 690.5 3,231,742 930.5 -27.18% 1,849 30.0 406,813 119.0
-99.55%
42,536,904$ 52,455,289$ -18.91% 428,821$ 6,935,533$ -93.82%
712,249$ 1,326,337$ -46.30% 15,057$ 176,235$ -91.46%
GRAND TOTAL CRUISE / GAMING REVENUE: 43,249,153$ 53,781,626$
-19.58% 443,879$ 7,111,767$ -93.76%
50,222,494$ 59,999,876$ -16.30% 1,209,334$ 7,933,536$
-84.76%GRAND TOTAL CARGO/CRUISE/GAMING REVENUE:
TOTAL MULTI-DAY PASS'GERS:
TOTAL MULTI-DAY CRUISE REVENUE:
GAMING VESSEL PASS'GERS:
TOTAL GAMING VESSEL REVENUE:
* CRUISE PASSENGERS
CANAVERAL PORT AUTHORITY
STATISTICAL REPORT FOR APRIL 2020
36
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INTERNAL MEMORANDUM TO: Commissioners of Canaveral Port
Authority John Murray, CEO FROM: Pat Poston, Senior Finance
Director DATE: June 17,2020 SUBJECT: Account Receivable Update
The following is a brief update of the Accounts Receivable
billing and collection process: Staff continues to work with our
customers to ensure collection and credit of accounts. Staff has
been working closely with our customer and business partners to
maintain a current billing and account balance status. Most of our
accounts are in line as evidenced by the 89% with balances in less
than 30 day. We are working with all others to bring accounts
current.
Attached is the aging report as of June 16, 2020. The Current
accounts are 89.4% of total Accounts Receivable of $2,266,961. We
will send any necessary collection notices for violations and
assess the applicable late fees. The updated aging results will be
provided at the meeting on June 24, 2020. The following accounts
are due to/have been sent notices of action and late fee
assessments. Abavision Supply Co. Flexboat USA Holdings Fillette
Green Shipping Glover Oil 888 Taxi LLC Inboard Marine Center, LLC
Cove Merchants Assoc. Pirates Best Marine, LLC
37
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Canaveral Port Authority 6/16/2020Company Name Current 31-60
61-90 >90 TotalCompany Name 0-30 31-60 61-90 90+ Total
888 Taxi LLC -$ 675.00$ 45,000.00$ 35,000.00$ 80,675.00$ 745
Holding Company, Inc. -$ -$ -$ 19.92$ 19.92$ Abavision Supply, Co
19,468.67$ 20,051.63$ 19,468.67$ -$ 58,988.97$ Ambassador Services,
INC 354,512.39$ -$ -$ -$ 354,512.39$ Ambassador Services, LLC
143,922.34$ -$ -$ -$ 143,922.34$ Beyel Brothers, Inc. 3,042.38$ -$
-$ -$ 3,042.38$ Canaveral Hospitality LLC -$ 33.01$ -$ -$ 33.01$
Canaveral Port Properties 978.42$ -$ -$ -$ 978.42$ Cape Concepts,
LLC -$ 71.78$ -$ -$ 71.78$ Civil and Marine, Inc. 18,064.91$ -$ -$
-$ 18,064.91$ Cove Merchants Assoc. 418.00$ 400.00$ 400.00$ -$
1,218.00$ Fillette Green Shipping Services (USA) Corp 67,691.49$
21,343.76$ -$ -$ 89,035.25$ Flexboat USA Holdings, LLC 4,948.99$
4,803.15$ 4,803.15$ 4,919.01$ 19,474.30$ Florida Biplanes 2,283.85$
-$ -$ -$ 2,283.85$ Ford Motor Company 78,408.00$ -$ -$ -$
78,408.00$ GAC Shipping (USA) Inc 15,353.43$ -$ -$ -$ 15,353.43$
Glover Oil Co. 701.10$ 137.25$ -$ -$ 838.35$ GT USA LLC 27,080.40$
27,982.17$ -$ (1,168.43)$ 53,894.14$ Inboard Marine Center LLC
2,748.81$ 2,668.05$ 1,168.05$ -$