The Port of Olympia District, which should be named Port of Thurston County, has a long history of using inaccurate financial reporting to cover up its perpetual losses. We Port watchers are hoping the new Port Commission members, executive Director, and staff would start producing the "transparency" that they promised. This financial report misses the mark be a wide margin. We look forward to future reports being accurate.
Not only have the operating units lost money most years, but the Marine Terminal suffers big losses every year.
In addition to the Port's financial reports, it should reveal the additional costs of Port operations that don't appear on its books. This includes the airport control tower and Marine Terminal dredging provided by the federal government, and a half billion dollars of real estate provided by us, Thurston County residents (a subsidy worth 25 million dollars per year).
Bob Jacobs
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