Thursday, July 25, 2019

City anticipating better results for Cow Bay Marina as summer moves forward

The financial returns from the Cow Bay Marina to May made for a question
from Councillor Gurvinder Randhawa Monday's Council session

With the summer tourism season now reaching the midway point, the City of Prince Rupert is anticipating some better financial results from the Cow Bay Marina, which has been delivering some reduced revenues from this time last year up to the month of May.

The topic of the city's Marina for boaters transiting the North Coast waters came up for review on Monday night  as part of the Chief Financial Officer's May Variance Report.

Following the presentation from CFO Corinne Bomben, Councillor Gurvinder Randhawa, inquired about an update on the facility so far this year, with Ms. Bomben noting that from her report the revenues were down from the year before, owing to what she stated was a coast long slowdown in the marina business.

"The revenues were down a little bit as of May, that was actually felt all the way throughout the province at many other marinas, Our Marina manager contacted everyone just to find out, it's a little bit of a lull time by this May, as compared to previous May. And now we are aware that things have been pretty much at occupancy for June and July, so May was a little bit off compared to the previous year. But our understanding is that these things kind of go in ebbs and flows and we're not the only one's that was experiencing that'

The report from Monday does show that the Cow Bay Marina is down close to 30,000 dollars in revenues from the year before, with revenues of $45,630 recorded to May of this year, compared to $74,469 from last year.

The May Financial Variance report
(click to enlarge)

The Marina's expenses are slightly down from a year ago, with the Marina's expenditures to date recorded at $121,091 down just over 3.000 dollars from this time last year when expenditures were listed at $124,283.

A quick look around at the Cow Bay facility today did show the docks as fairly full, with only a number of berthing spots empty on the day.

The Cow Bay Marina has a few spots open, but not many as the
summer boating season heads past the midway point

You can review the  Q & A on the Marina as part of Ms. Bomben's report which is available for viewing from the City's You Tube archive starting at the 22 minute mark.

For more items of note related to Monday's City Council Session see our Council Timeline Feature here,  further background on the Monday session is also available from our Archive here.

A wider overview of Council discussions can be explored through our Council Discussions archive.

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