The Port of Hueneme, on the US West Coast, says it realizes another strong year in FY2013 achieving a record revenue total of approximately $13.4 million in Gross Operating Revenue for a 10.4% increase over FY 2012.
The Port’s CEO, Kristin Decas and CFO, Andrew Palomares submitted the auditor’s report to the Port’s Board of Harbor Commissioners at its recent Commission Meeting.
Commissioner President, Jason Hodge, noted "The numbers tell a very positive story about the Port’s financial performance and show our commitment to fiscal responsibility. That is our top priority and our fundamental responsibility to the public we serve. We will remain steadfast in our commitment to adopt policies that ensure we continue to achieve the highest possible accounting standards."
The audit shows that the Port realized best year in volume since inception in 1937. The record year is in large part due to continued economic recovery at the national level. Growth is also attributed to business retention and a sustained customer base. The agricultural product market made strong returns in fiscal year 2013. The banana trade hit a peak year realizing an historic increase of 5.7%. Traditionally the banana business shows an inelastic response to economic trends, but this year showed unprecedented increases.
The Port’s Financial Year End Comprehensive Annual Financial Report is in final draft preparations and will be available on the Port of Hueneme’s website, http://www.portofhueneme.org