Three Decades of Port of Oswego Revenues

Provided by Terrence M. Hammill, Chairman of the Board
OSWEGO, NY – The Port of Oswego Authority (POA) has examined three decades of revenues from its operations, starting from 1985. The fiscal year for the POA starts April 1, and ends on the following March 31.

Following each fiscal year, a professional audit is completed, submitted to the POA and recorded for public and New York State review.

A very interesting statistic in each audited report is the total revenues for the fiscal year.

Those revenues accrue from the fees charged for the docking of vessels, the handling and storage of a variety of commodities, and marina revenues.

The thirty-year period was examined on an annual fiscal year basis, and the total revenues for each year were recorded. The fiscal years were then grouped into five-year periods, e.g., 1985-90, 1990-95, etc., for ease of reporting.

For each five-year period, the average annual and the total amounts were listed in tabular form.

In addition, the results were displayed on a histogram.

The accompanying table lists in each column, a group of five fiscal years, the five-year average revenues, and the five-year total revenues.

Click here to view chart
During the 1985-90 years, each fiscal year averaged less than $1 million, and the total revenues were $4.61 million. The averages and totals increased gradually to $1.37 million and $6.84 million during the years, 1995-2000.

During the subsequent five-year period (2000-2005), both average and total revenues dropped to $1.23 million and $6.16 million.

The following two periods have seen a dramatic increase in both average and total annual revenues.

During the 2005-2010 periods, the average annual revenues were $2.65 million, and the total annual revenues were $13.23 million, more than double the previous period.

The final five-year period (2010-15) still has a year to go. During this period, the first annual revenue level of $3 million was reached and exceeded (during 2010-11) when the annual revenues were $3.61 million.

During FY 2012-13, the POA revenues reached $4.1 million. While the current fiscal year has a month to go, there is little doubt that this will be the POA’s second “$4 million year.”

During this four-year period (2010-14), the average and total revenues are projected to be $3.63 million and $14.51 million, respectively. And we have experienced two successive $4 million years.

Based upon contracts and economic expectations, the POA anticipates that the final fiscal year (2014-15) also will exceed $4 million of total revenues.

That amount would produce a five-year average of $3.7 million and a total revenue projection of over $18.5 million.

The final five-year projected total of $18.5 million for 2010-2015 is more than four times greater than the 1985-90 total of $4.61 million.

The POA has shown great growth during the past ten years; it has been most rapid during the past half dozen or so years since professional executive directors have been hired.