Cow Bay Marina revenues slowed in August, leaving facility off anticipated pace for 2019

The Cow Bay marina saw fewer visitors this year than had been anticipated
prior to the start of the season

There would be no surge in arrivals for the City's Cow Bay Marina in August, with the facility realizing just under 50,000 dollars in revenues for the  month, a dip in the financial returns from the month before which had seen 80,000 dollars in revenue brought in.

As has been charted by the city through its Financial variance reports each month, the 2019 season has been a bit of a disappointment for the City, with the actual revenue streams still a fair ways off from the projections at the start of the year.

The August figures which were part of a report provided to City Council members on Monday night, show that as of the end of that month, the Cow Bay facility had brought in $208,111, which leaves but four more reporting periods for the city to realize its forecast of $291,000 in revenue for the year.

The City's expenses for the year so far at the Cow Bay Marina are listed at $160,544 which leaves $52,456 still available from the $213,000 budget.

The verbal report on the August Variances from the City's Financial Officer provided a short overview  of the Operating and Utilities Budget and Capital purchases and works, but made no mention of the Cow Bay notes.

Council members had no questions for the CFO following her review.

Back in June, Ms. Bomben had noted that the trend at that time for the tourism season was for lower revenues, with multiple marinas along the coast reporting to the city of a slower season to that point. 

More notes on the Cow Bay results from this year can be found here.

You can explore more on the Monday council session from our Council Timeline Feature here, while a wider overview of Council Discussion themes can be explored from our archive page here.


To return to the most recent blog posting of the day, click here.