Public Port Finance Survey.pub

Maritime Administration Public Port Finance Survey for FY 2006 December 2008 Cover: Ports of Los Angeles & Long Beach Maritime Administration file photo: West Coast Tour Photographer—Shannon M. Russell Public Port Finance Survey − FY 2006 December 2008 U.S. Department of Transportation Maritime Administration Office of Intermodal System Development Should you have questions or comments concerning this report, please contact: Maritime Administration Office of Intermodal System Development 1200 New Jersey Ave., SE (#W21-201, MAR-540) Washington, DC 20590 Phone: 202-366-2320 Fax: 202-366-6988 E-mail: ports.marad@dot.gov To learn more about the Maritime Administration or the maritime industry, visit our web site at www.marad.dot.gov. TABLE OF CONTENTS Page Introduction ............................................................................................................ 1 Participating Ports ................................................................................................. 2 Definitions of Terms .............................................................................................. 3 Operating Status ............................................................................................ 3 Port Type ........................................................................................................ 3 Ratios Used in Report..................................................................................... 4 FY 2006 Data Tables .............................................................................................. 5 North & South Atlantic ................................................................................... 6 Gulf ............................................................................................................... 10 North & South Pacific & Great Lakes (inc. Canada) .................................. 14 Appendix: FY 2006 AAPA Port Finance Survey Questionnaire ..................... A-1 INTRODUCTION This report is the result of a cooperative effort between the Maritime Administration and the American Association of Port Authorities (AAPA). It was prepared by the Maritime Administration, using financial information furnished by AAPA. This is the only report of its kind in the port industry that covers U.S. and Canadian ports. It has been compiled for 28 years, first by AAPA or a member port and now, for the ninth year, by the Maritime Administration. The survey data were obtained by AAPA from its U.S. and Canadian corporate membership. AAPA’s U.S. members represent virtually all the major U.S. deep-draft coastal and Great Lakes ports. Public port agencies own approximately one-third of the U.S. deep-draft marine terminal facilities. The report contains financial data on maritime activities at ports, including the income statement, balance sheet, outstanding bonds, debt service, sales offices, and cargo tonnage. Two additional sections cover data on ratio analyses and contributions, donations, and grants received in fiscal year 2006. It is important to note two characteristics about the data in this report − (A) they represent fiscal year (FY) data, and (B) ports have different fiscal years. (A fiscal year is defined as a 12-month period used to calculate annual financial reports. For example, a fiscal year ending June 30 extends from July 1 of one year to June 30 of the following year.) The table below shows the different fiscal years for the 38 ports in this report. Fiscal Year Port (12 months ending…) April 30 South Louisiana Massachusetts (Boston), Maryland (Baltimore), Philadelphia, Wilmington (DE), Richmond (VA), North Carolina, South June 30 Carolina, Virginia, Gulfport, New Orleans, Port Lavaca, St. Bernard, Portland (OR), Hueneme, Los Angeles, Redwood City, San Diego, Stockton July 31 Port Arthur Canaveral, Everglades, Miami, Alabama, Freeport, Orange September 30 (TX), Long Beach Greater Baton Rouge, Corpus Christi, Houston, Greater Lafourche, Lake Charles, Seattle, Vancouver USA, Cleveland December 31 // Halifax (CAN), St. John’s (CAN), Thunder Bay (CAN), Vancouver (CAN) A special appreciation is extended to FY 2006’s 39 contributing ports (of which 35 were U.S. and 4 were Canadian). The response rate for U.S. ports was 41 percent – namely, 35 responded out of a total of 85 AAPA U.S. members. The response rates for the last report, FYs 2004 & 2005 combined, were 36 percent and 38 percent, respectively. To put this report’s response rates in context, the 35 U.S. respondents represented – • • 18 out of the top 30 U.S. container ports in 2006, 17 out of the top 30 U.S. ports in 2006 handling foreign and domestic waterborne cargo. The report is available on the Maritime Administration’s website (link to 2006 port finance survey). For further information, contact the Maritime Administration; Office of Intermodal System Development; 1200 New Jersey Ave., SE (#W21-201, MAR-540); Washington, DC 20590; tel: 202-366-2320; fax: 202-366-6988; or email: ports.marad@dot.gov. 1 PUBLIC PORT FINANCE SURVEY FOR FY 2006 39 PARTICIPATING PORTS NORTH & SOUTH ATLANTIC Maryland Port Administration (Baltimore) Massachusetts Port Authority (Boston) Philadelphia Regional Port Authority (PA) Port of Richmond (VA) Port of Wilmington (DE) Canaveral Port Authority (FL) Port Everglades (FL) Port of Miami (FL) North Carolina State Ports Authority South Carolina State Ports Authority Virginia Port Authority NORTH & SOUTH PACIFIC & GREAT LAKES (includes Canada) Port of Portland (OR) Port of Seattle (WA) Port of Vancouver USA (WA) Port of Hueneme (CA) Port of Long Beach (CA) Port of Los Angeles (CA) Port of Redwood City (CA) San Diego Unified Port District (CA) Port of Stockton (CA) Cleveland-Cuyahoga County Port Authority (OH) Vancouver Port Authority, BC (CAN) Halifax Port Authority, NS (CAN) St. John’s Port Authority, NL (CAN) Thunder Bay Port Authority, Ont. (CAN) GULF Alabama State Port Authority Greater Baton Rouge Port Commission (LA) Port of Corpus Christi Authority (TX) Port of Freeport (TX) Port of Gulfport (Mississippi State Port Authority) Port of Houston (TX) Greater Lafourche Port Commission (LA) Lake Charles Harbor/Terminal District (LA) Port of New Orleans (LA) Orange County Navigation Port District (TX) Port of Port Arthur (TX) Port of Port Lavaca/Point Comfort (TX) Port of South Louisiana (LA) St. Bernard Port, Harbor & Terminal District (LA) 2 DEFINITIONS OF TERMS OPERATING STATUS Ports can be categorized by their type of operation: non-operating, operating, and limitedoperating ports. Non-Operating Ports Basically landlord ports with all port facilities generally [NONOP] leased or preferentially assigned with the lessee or assignee responsible for operating the facilities. Operating Ports Generally provide all port services except stevedoring [OP] with their own employees including, but not limited to, loading and unloading of rail cars and trucks and the operation of container terminals, grain elevators, and other bulk terminal operations. Limited-Operating Ports Lease facilities to others, but continue to operate one or [LTDOP] more facilities with port employees. These operated facilities may be specialized terminals, such as grain elevators, bulk terminals, container terminals, etc. PORT TYPE: U.S. vs. Canadian. U.S. U.S. public ports generally fall into the following categories: Bi-State Authority; State Department, Agency, or Authority; County Department or Authority; Municipal Agency; or Special Purpose Port/Navigation District or Authority. The classification of the ports into these categories is based on their current ownership and status. For the purpose of this report, special purpose port/navigation districts and authorities are separate local government organizations that generally are granted separate taxing authority with some statutory limitations. Canada The Canadian port industry experienced significant changes in FYs 1998 and 1999 with the passage of the Canada Marine Act (Act). Changing the relationship of ports with the Crown, the Act now requires the designated Canada Port Authorities (CPA) to pay annual stipends to the federal government and payments in lieu of taxes to local governments, in addition to becoming subject to greater public scrutiny and accountability. Unlike many of their U.S. counterparts, CPAs neither have taxing authority unto themselves nor do they have access to any federal funding. They are financially self-sufficient entities governed by a Board of Directors comprised of nominees from port user groups and the three levels of government (Municipal, Provincial, and Federal). CPAs operate port facilities as agents of the Crown for core business activities and are independent of the Crown for noncore activities. 3 RATIOS USED IN REPORT The ratios presented in this report are among the major categories of ratios used in financial statement analysis and measure operating performance, short-term liquidity, return on investment, capital structure, and asset utilization. Since there are no established benchmark industry standards, the ratios presented can best be interpreted by comparison with past ratios of the same port or comparison with other ports having the same characteristics of operation and financing. Ratios which measure operating performance include operating ratio, operating margin, net income to operating revenue (gross sales), and operating income to operating revenue (gross sales). Although not formally adopted as a benchmark in MARAD’s 1997 publication, An Analysis of U.S. Public Port Profitability and Self-Sufficiency (1985-1994), it was found that “...it appears that a port could at the present time maintain a profitable status if it could maintain an operating ratio of 85%, provided the interest from its debt load and other expenses did not exceed its operating income plus interest income.” Short-term liquidity ratios include the current ratio and two measures of the quality and liquidity of accounts receivable – (1) the percentage of accounts receivable reserved as bad debts and (2) the collection period for accounts receivable. Three ratios measure return on investment. They are return on total assets; return on net investment in plant, property, and equipment after depreciation; and return on investment in plant, property, and equipment before depreciation. Asset utilization is measured by the relationship of operating income to the net investment in plant, property, and equipment. Capital structure is measured by the relationship of long-term debt to total equity. 4 FY 2006 DATA TABLES 5 NORTH & SOUTH ATLANTIC 6 FY 2006 PUBLIC PORT FINANCE SURVEY (US$ 000s) MARYLAND MASSACHUSETTS PHILADELPHIA PORT PORT OF PORT AUTHORITY REGIONAL PORT ADMINISTRATION RICHMOND (VA) (BOSTON) AUTHORITY (PA) (BALTIMORE) Page 7 NORTH & SOUTH ATLANTIC PORT OF WILMINGTON (DE) CANAVERAL PORT PORT EVERGLADES AUTHORITY (FL) (FL) NORTH PORT OF MIAMI CAROLINA (FL) STATE PORTS AUTHORITY SOUTH CAROLINA STATE PORTS AUTHORITY VIRGINIA PORT AUTHORITY OPERATING STATUS PLANNING (Strategic/Marketing/Financial/Development) PORT TYPE INCOME STATEMENT OPERATING REVENUE Marine Other TOTAL OPERATING EXPENSES Operating & Maintenance Expenses Security Expenses Sales Promotion/Trade Development Expenses All Other Administration Expenses Depreciation Expense TOTAL OPERATING INCOME OTHER INCOME (EXPENSES) Interest Earned Bond Interest Expense Tax Levies Contributions Other Items TOTAL NET INCOME BALANCE SHEET ASSETS Cash & Investments Trade Accounts Receivable (gross) Less: Reserve for Bad Debts Net Trade Accounts Receivable Other Current Assets TOTAL CURRENT ASSETS INVESTMENT IN PLANT, PROPERTY, & EQUIPMENT (PP&E) Land Buildings Other Improvements Equipment GROSS INVESTMENT IN PP&E Accumulated Depreciation [ALWAYS NEGATIVE!] Contruction in Progress NET INVESTMENT IN PP&E Restricted Assets All Other Assets TOTAL ASSETS OP All State OP All State NONOP Strat/Fin/Dev State NONOP All Municipal OP All Spec Purpose NONOP All Spec Purpose NONOP All County OP Strat/Fin/Dev County OP All State OP All State LTDOP All State 62,797 22,778 85,575 41,058 5,530 46,588 5,506 5,506 807 250 1,057 7,226 23,754 30,979 44,015 5,436 49,451 83,942 22,347 106,289 54,421 27,692 82,114 36,305 4,375 40,681 154,016 154,016 222,831 6,177 229,007 59,460 7,173 3,098 15,850 31,970 117,552 (31,977) 36,304 4,143 681 3,230 11,160 55,518 (8,930) 4,957 310 1,652 5,798 8,638 21,355 (15,849) 72 49 482 977 1,580 (522) 23,127 901 447 3,590 4,687 32,753 (1,774) 9,866 6,067 1,538 5,739 9,426 32,637 16,814 45,191 16,466 2,063 5,398 20,352 89,469 16,820 11,893 18,408 1,824 29,085 16,132 77,342 4,772 19,435 1,865 1,475 7,429 8,352 38,556 2,125 60,130 3,881 2,204 9,965 24,465 100,645 53,371 155,997 6,564 7,626 19,661 34,348 224,196 4,812 (1,275) 380 (2,520) 13,233 11,627 22,719 6,870 156 551 (2,311) 15,710 396 14,346 12,573 1,634 (2,678) 79 (818) (1,784) 15,030 8,321 (15,651) 3,815 (23,938) 7,343 21,061 8,281 13,052 331 (294) 5,964 3,588 9,589 11,714 8,288 (5,547) 2,005 2,006 6,752 60,123 4,773 (18,904) 840 30,530 17,239 22,051 (9,841) (9,841) (41,818) (1,095) (2,370) (11,300) (1) 155 (368) (7,330) 9,489 160 16,277 592 15,685 6,308 22,153 273,236 254,567 279,193 120,555 927,551 (324,224) 85,705 689,033 887 1,466 1,466 430 2,784 3,950 136,042 2,629 33,321 175,942 (88,955) 6,066 93,052 9,223 1,320 106,379 3,885 110 110 3,995 157 3,460 15,123 2,720 21,460 (12,210) 275 9,525 4,161 3,095 48 3,046 1,307 8,515 25,504 83,849 59,456 30,523 199,333 (35,376) 582 164,539 7,132 27,282 3,449 3,449 6,428 37,158 4,603 11,128 245,871 13,014 274,616 (101,800) 32,454 205,270 8,511 250,940 141,919 6,879 113 6,766 5,543 154,228 207,898 207,511 181,799 128,628 725,836 (237,117) 16,798 505,517 39,023 3,272 702,040 11,395 12,778 5,363 7,415 4,817 23,627 152,506 351,172 217,719 15,136 736,532 (198,909) 162,827 700,451 32,933 51,338 808,349 10,209 6,125 6,125 1,214 17,549 57,525 73,302 142,032 40,599 313,458 (142,883) 31,591 202,165 7,495 683 227,892 87,180 19,395 1,990 17,405 13,714 118,299 166,731 269,764 161,593 103,792 701,880 (312,380) 58,949 448,449 6,209 90,173 663,130 30,852 21,459 1,050 20,410 32,859 84,120 97,626 75,132 372,309 300,216 845,282 (279,401) 90,207 656,088 107,770 6,733 854,712 419,556 711,186 419,556 13,520 180,185 IMPORTANT: TOTALS MAY NOT ADD UP DUE TO ROUNDING. FY 2006 PUBLIC PORT FINANCE SURVEY (US$ 000s) MARYLAND MASSACHUSETTS PHILADELPHIA PORT PORT OF PORT AUTHORITY REGIONAL PORT ADMINISTRATION RICHMOND (VA) (BOSTON) AUTHORITY (PA) (BALTIMORE) Page 8 NORTH & SOUTH ATLANTIC PORT OF WILMINGTON (DE) CANAVERAL PORT PORT EVERGLADES AUTHORITY (FL) (FL) NORTH PORT OF MIAMI CAROLINA (FL) STATE PORTS AUTHORITY SOUTH CAROLINA STATE PORTS AUTHORITY VIRGINIA PORT AUTHORITY LIABILITIES Current Liabilities Payable from Current Assets Current Liabilities Payable from Restricted Assets SUB-TOTAL CURRENT LIABILITIES Long-Term Debt TOTAL LIABILITIES EQUITY Contributed Capital - Net Retained Earnings - Restricted Retained Earnings - Unrestricted TOTAL EQUITY TOTAL LIABILITIES & EQUITY OUTSTANDING BONDS Revenue Bonds G. O. Bonds Commercial Paper Conduit Financing Debt Other Debt TOTAL DEBT SERVICE Principal Interest TOTAL CONTRIBUTIONS, DONATIONS, AND GRANTS RECEIVED IN FY 2006 Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose 17,641 17,641 17,641 693,545 4,993 2,463 7,456 51,164 58,620 41,526 6,500 (267) 47,759 106,379 51,164 49 49 49 9,525 3,946 13,471 13,520 13,599 13,599 36,399 49,997 116,708 7,132 6,348 130,188 180,185 8,865 2,004 10,869 60,471 71,340 142,849 6,016 30,735 179,600 250,940 64,455 12,609 13,712 26,321 254,329 280,650 12,831 32,933 45,764 552,043 597,807 183,185 23,901 3,456 210,542 808,349 67,555 142,215 8,179 893 9,072 50,390 59,461 154,132 14,299 168,430 227,892 40,795 12,150 12,946 25,096 150,279 175,375 315,232 6,229 166,294 487,755 663,130 136,660 37,216 22,774 59,990 427,531 487,522 243,872 70,265 53,053 367,190 854,712 392,337 693,545 711,186 33,473 387,916 421,389 702,040 264,906 5,000 51,164 2,897 6,944 9,841 Federal Grant 4,595 0 Port security 2,400 2,520 4,920 Federal Grant 1,168 0 Port security State Capital / ops 12,065 0 Infrastructure 47,831 47,831 8,054 2,311 10,365 State Grant 15,500 0 Capital improvement Federal Grant 210 0 Capital improvement 64,455 3,235 2,773 6,008 Federal DHS 723 80 Port security State DHS 55 1 FEMA hurricanes State DEP 50 50 Wet detention pond, inlet mgmt. plan, aquifer storage 269,906 12,011 13,421 25,433 State FPFC 3,225 1,286 Capital expenditures State FSTED 805 838 Capital expenditures Federal U.S. Army Corps of Engineers 348,710 558,480 9,900 23,087 32,987 Federal TSA 1,810 2,551 Security State FDOT 3,358 4,763 Dredging, road, yard imprvmnts 40,795 5,777 730 6,506 Federal TSA 5,964 0 Port security 2,972 139,632 3,507 5,721 9,228 State Land 1,041 0 Encourage trade Federal Grants 964 116 Security 46,715 439,052 42,184 18,904 61,088 Federal Grant 840 0 Homeland security State FSTED 1,083 1,445 Security & terminal improvements 379 0 Capital expenditures IMPORTANT: TOTALS MAY NOT ADD UP DUE TO ROUNDING. FY 2006 PUBLIC PORT FINANCE SURVEY (US$ 000s) MARYLAND MASSACHUSETTS PHILADELPHIA PORT PORT OF PORT AUTHORITY REGIONAL PORT ADMINISTRATION RICHMOND (VA) (BOSTON) AUTHORITY (PA) (BALTIMORE) Page 9 NORTH & SOUTH ATLANTIC PORT OF WILMINGTON (DE) CANAVERAL PORT PORT EVERGLADES AUTHORITY (FL) (FL) NORTH PORT OF MIAMI CAROLINA (FL) STATE PORTS AUTHORITY SOUTH CAROLINA STATE PORTS AUTHORITY VIRGINIA PORT AUTHORITY Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose Federal U.S. EPA 12 19 North/south cargo Capital piers, widen expenditures turning basin, dredging & jetty basin State DOT 1,685 1,685 Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose SALES OFFICES Foreign Offices Foreign Personnel Domestic Offices Domestic Personnel CARGO REPORT (actual numbers; in short tons) Breakbulk Automobiles Other RO/RO Containerized Dry Bulk Liquid Bulk TOTAL (actual short tons) RATIO ANALYSIS Op. Ratio (Op. Expenses / Op. Revenue) Op. Margin (Op. Income / Op. Revenue) Current Ratio (Curr. Ass. / Curr. Liabs. Pay. Curr. Ass.) Net Income / Op. Revenue (Net Income + Bond Int. Exp.) / Total Assets Net Income / Net PP&E (Op. Income + Deprec.) / Gross PP&E Op. Income / Net PP&E (Op. Income + Deprec.) / Op. Revenue Long-Term Debt / Total Equity Allow. for Bad Debts (Rsrv Bad Debts / Gross A/R) Avg # Days Sales Uncollected (Net A/R / (Op.Rev/360)) NOTES Local SJWMD 100 100 Aquifer storage & rec Local -157 0 Water recovery 5 5 2 272 751,000 248,000 384,000 3,411,000 129,000 4,923,000 137.4% -37.4% 125.6% -48.9% -5.9% -6.1% 0.0% -4.6% 0.0% 0.0% 3.6% 66 5 5 2 6 3,042,109 13,404 1,508,205 202,681 1,724,290 119.2% -19.2% N/A -24.3% -2.4% -2.7% N/A -2.1% 4.8% N/A N/A 0 Massport's financial statements consist of a consolidated balance sheet that includes all assets, liabilities, and equipment. The Maritime Department's assets, liabilities, and equity accounts cannot be reported separately. 2 1 3 746,000 187,000 1 5 308,642 18,499 1 15 376,535 94,882 57,667 5,688,442 2,954,310 17,566,394 26,738,230 84.2% 15.8% 1223.2% 8.9% 3.6% 1.9% 5.1% 3.3% 35.0% 60.4% 1.6% 23 15 5,000 144,522 46,311 8,458,541 2 2 2 10 1,611,327 3 0 3 14 3 8 6 26 429,003 53,368 15,863,368 2,101,923 693,148 5,837,180 387.8% -287.8% 55.8% 124.8% 8.8% 7.4% -4.1% -17.0% -131.0% 107.1% 0.0% 96 397,306 3,461 400,767 149.5% -49.4% 8153.1% -34.8% -2.7% -3.9% 2.1% -5.5% 43.0% 0.0% 0.0% 37 1,575,000 610,000 1,435,000 4,553,000 105.7% -5.7% 62.6% 40.6% 8.3% 7.6% 1.5% -1.1% 9.4% 28.0% 1.6% 35 2,867,039 1,359,576 4,553,756 66.0% 34.0% 419.2% 30.4% 7.1% 7.3% 9.6% 8.2% 53.1% 33.7% 0.0% 25 8,654,374 94.2% 5.8% 184.1% 15.9% 4.6% 1.9% 2.8% 0.7% 25.5% 262.2% 42.0% 33 955,371 1,888,768 1,304,206 5,759,672 94.8% 5.2% 214.6% 28.8% 5.3% 5.8% 3.3% 1.1% 25.8% 29.9% 0.0% 54 16,345,739 65.3% 97.9% 34.7% 2.1% 973.7% 226.0% 39.0% 9.6% 9.9% 4.8% 13.4% 3.4% 11.1% 4.6% 11.9% 0.7% 50.5% 17.1% 30.8% 116.4% 10.3% 4.9% 41 32 The SCSPA Covers statedoes not track owned cargo tonnage. terminals in Hampton Roads. IMPORTANT: TOTALS MAY NOT ADD UP DUE TO ROUNDING. GULF 10 FY 2006 PUBLIC PORT FINANCE SURVEY (US$ 000s) GULF ALABAMA STATE GREATER BATON PORT OF PORT OF PORT ROUGE PORT CORPUS CHRISTI FREEPORT (TX) AUTHORITY COMMISS. (LA) AUTHORITY (TX) PORT OF GULFPORT (MISSISSIPPI STATE PORT AUTH.) PORT OF HOUSTON (TX) GREATER LAKE CHARLES LAFOURCHE HARBOR & PORT TERMINAL COMMISSION (LA) DISTRICT (LA) PORT OF NEW ORLEANS (LA) ORANGE COUNTY NAVIGATION PORT DISTRICT (TX) PORT OF PORT ARTHUR (TX) Page 11 PORT OF ST. BERNARD PORT LAVACA / PORT OF SOUTH PORT, HARBOR & POINT COMFORT LOUISIANA (LA) TERMINAL (TX) DISTRICT (LA) OPERATING STATUS PLANNING (Strategic/Marketing/Financial/Development) PORT TYPE INCOME STATEMENT OPERATING REVENUE Marine Other TOTAL OPERATING EXPENSES Operating & Maintenance Expenses Security Expenses Sales Promotion/Trade Development Expenses All Other Administration Expenses Depreciation Expense TOTAL OPERATING INCOME OTHER INCOME (EXPENSES) Interest Earned Bond Interest Expense Tax Levies Contributions Other Items TOTAL NET INCOME BALANCE SHEET ASSETS Cash & Investments Trade Accounts Receivable (gross) Less: Reserve for Bad Debts Net Trade Accounts Receivable Other Current Assets TOTAL CURRENT ASSETS INVESTMENT IN PLANT, PROPERTY, & EQUIPMENT (PP&E) Land Buildings Other Improvements Equipment GROSS INVESTMENT IN PP&E Accumulated Depreciation [ALWAYS NEGATIVE!] Contruction in Progress NET INVESTMENT IN PP&E Restricted Assets All Other Assets TOTAL ASSETS LTDOP Strat/Dev State NONOP Strat/Mktg State LTDOP All Spec Purpose LTDOP All Spec Purpose OP All State LTDOP All Spec Purpose NONOP All Spec Purpose OP All State NONOP Financial State NONOP All Spec Purpose OP Strat/Dev Spec Purpose OP Development Spec Purpose LTDOP All Spec Purpose NONOP Mktg/Fin/Dev State 81,427 6,728 88,155 3,266 2,531 5,797 26,776 9,260 36,036 5,273 5,069 10,342 3,745 3,607 7,352 150,031 18,059 168,090 11,357 1,450 12,807 21,073 8,250 29,324 22,775 16,104 38,879 818 487 1,306 4,213 93 4,306 5,277 920 6,196 6,342 1,440 7,782 2,355 59 2,414 54,097 3,095 659 5,170 16,819 79,841 8,314 2,019 183 259 1,586 2,658 6,705 (908) 15,013 4,154 1,303 8,676 7,127 36,273 (237) 4,353 386 823 997 2,103 8,663 1,679 13,473 2,860 16,333 (8,981) 73,177 8,270 2,730 26,498 28,436 139,110 28,980 4,190 1,322 41 1,216 2,157 8,925 3,882 10,320 1,045 380 6,010 7,724 25,480 3,844 14,717 4,284 2,029 7,639 16,503 45,172 (6,293) 163 357 11 1,617 2,148 (842) 3,081 160 177 1,577 2,187 7,182 (2,876) 3,467 193 70 571 1,170 5,472 724 5,795 40 425 19 1,778 8,057 (275) 2,884 54 2,262 5,200 (2,786) 2,202 (9,663) 48,847 4,363 45,749 54,063 699 (380) 903 18 1,240 332 1,270 (648) 12,262 (106) 12,777 12,540 1,292 (628) 5,637 272 3,547 10,120 11,798 2,102 (412) 893 480 4,448 7,510 (1,471) 13,682 (10,951) 29,454 6,490 (4,825) 33,850 62,829 860 1,898 12,786 (9,678) 5,865 9,747 1,992 (168) 2,301 9,750 498 14,373 18,216 1,084 (4,500) 1,989 (963) (2,390) (8,683) 314 399 (787) (73) (916) 177 (1,505) 4,114 1,200 (415) 3,572 696 1,192 (983) 87 2,874 (2,581) 1,124 226 (357) 735 4,043 4,647 1,861 296 1,020 1,417 1,142 7,424 12,459 303 12,156 17,489 37,069 15,769 523 523 197 16,489 11,428 5,283 64 5,219 5,054 21,701 30,441 6,943 13 6,930 1,936 39,307 73,266 3,663 1,043 2,620 443 76,330 203,866 24,337 1,274 23,064 5,498 232,427 15,963 3,420 29 3,391 486 19,840 24,094 5,993 5,993 8,222 38,310 15,240 2,673 410 2,263 8,036 25,539 6,754 102 25 77 203 7,034 1,789 842 52 790 5,807 8,386 5,950 661 661 824 7,434 10,775 1,250 88 1,161 14 11,950 3,072 560 560 3,244 6,875 47,504 99,097 221,830 192,660 561,092 (261,170) 117,653 417,575 26,093 5,920 486,657 5,817 78,448 14,616 5,188 104,069 (51,719) 606 52,956 856 200 70,501 59,078 61,289 133,372 28,030 281,769 (105,771) 45,019 221,017 2,329 7,122 252,168 57,698 26,213 41,700 5,862 131,472 (21,719) 4,520 114,273 1,376 554 155,509 7,362 7,714 85,404 2,378 102,857 (36,135) 27,879 94,602 6,011 20 176,963 264,937 74,180 440,625 170,884 950,626 (383,038) 407,980 975,568 93,609 2,834 1,304,438 3,858 5,245 72,369 3,683 85,156 (19,833) 25,637 90,961 25,823 275,344 74,286 572,440 18,661 665,387 (254,913) 113,721 524,195 56,186 2,637 608,557 301,167 (108,529) 15,042 207,680 2,536 15,039 263,564 2,181 7,962 7,453 1,964 19,560 268 19,828 3,968 81,816 621 483 86,889 (19,607) 2,739 70,021 1,847 516 80,770 1,220 2,400 120,891 1,507 126,017 (1,840) 1,996 126,173 11,232 16,491 28,423 13,653 69,799 (14,705) 7,932 63,027 54,549 12,030 55,164 348 67,542 (9,894) 9,447 67,094 1,558 43 75,570 110,800 26,861 133,608 129,526 IMPORTANT: TOTALS MAY NOT ADD UP DUE TO ROUNDING. FY 2006 PUBLIC PORT FINANCE SURVEY (US$ 000s) GULF ALABAMA STATE GREATER BATON PORT OF PORT OF PORT ROUGE PORT CORPUS CHRISTI FREEPORT (TX) AUTHORITY COMMISS. (LA) AUTHORITY (TX) PORT OF GULFPORT (MISSISSIPPI STATE PORT AUTH.) PORT OF HOUSTON (TX) GREATER LAKE CHARLES LAFOURCHE HARBOR & PORT TERMINAL COMMISSION (LA) DISTRICT (LA) PORT OF NEW ORLEANS (LA) ORANGE COUNTY NAVIGATION PORT DISTRICT (TX) PORT OF PORT ARTHUR (TX) Page 12 PORT OF ST. BERNARD PORT LAVACA / PORT OF SOUTH PORT, HARBOR & POINT COMFORT LOUISIANA (LA) TERMINAL (TX) DISTRICT (LA) LIABILITIES Current Liabilities Payable from Current Assets Current Liabilities Payable from Restricted Assets SUB-TOTAL CURRENT LIABILITIES Long-Term Debt TOTAL LIABILITIES EQUITY Contributed Capital - Net Retained Earnings - Restricted Retained Earnings - Unrestricted TOTAL EQUITY TOTAL LIABILITIES & EQUITY OUTSTANDING BONDS Revenue Bonds G. O. Bonds Commercial Paper Conduit Financing Debt Other Debt TOTAL DEBT SERVICE Principal Interest TOTAL CONTRIBUTIONS,DONATIONS,AND GRANTS RECEIVED IN FY 2006 Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose 24,529 6,260 30,789 186,239 217,028 942 569 1,512 6,750 8,262 8,506 268 8,774 26,164 34,937 6,241 747 6,988 11,176 18,164 4,504 131 4,634 28,695 33,330 64,727 28,535 93,262 397,021 490,283 13,172 13,172 136 13,308 11,044 1,250 12,294 16,324 28,618 21,762 1,968 23,730 116,937 140,667 228 228 228 1,758 8,024 9,782 28,786 38,568 778 778 32,400 33,178 1,319 936 2,254 54,786 57,041 2,079 2,079 6,405 8,484 195,081 74,548 269,629 486,657 45,978 287 15,974 62,239 70,501 195,074 2,061 20,095 217,231 252,168 102,488 1,358 33,500 137,346 155,509 143,633 143,633 176,963 20,320 27,913 765,923 814,155 1,304,438 90,961 6,532 97,492 110,800 191,430 6,391 37,125 234,946 263,564 432,778 24,160 10,952 467,890 608,557 6,306 500 19,828 26,634 26,861 93,773 41,199 1,003 42,202 80,770 6,657 100,430 133,608 62,282 164 10,040 72,486 129,526 61,564 1,558 3,964 67,086 75,570 172,730 6,870 13,080 11,785 30,240 359,435 21,744 16,250 108,575 4,935 22,595 458,425 32,400 54,234 1,422 5,910 156,275 188,675 55,657 830 253 1,083 Federal Commerce State -- 20,801 193,531 7,109 10,861 17,970 State Appropriation 6,870 355 380 735 FEMA Expenses 13,080 1,040 632 1,672 Federal DHS 11,785 640 600 1,240 Federal DHS 30,240 1,610 1,509 3,119 Federal TSA 381,179 104,826 17,148 121,974 Federal TSA/ODP/TEET State DOTD 16,250 1,250 168 1,418 Federal -- 6,854 115,429 2,211 4,909 7,120 Federal Truman Hobbs Federal Grant 485,955 27,852 1,505 29,358 Federal DHS PSGP 5,910 984 984 357 357 24,275 0 Capital improvement / container Federal FTA 175 0 Hurricane Katrina 3,501 974 Security grant 493 0 Security grant 10 3 Port security 6,490 6,490 Security enhancement 3,782 6,539 Aviation maintenance & projects, port priority Private -- 529 0 Capital projects 1,057 74 Bridge construction 345 0 Security equipment 812 1,147 Port security grant rounds 2,3, &5 State TDPS 762 419 Rail spur 1,200 Dock / building construction Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose LSU Expenses Federal DOT Tenants State MS DOT State -- State FP&C Federal Security Federal -- 24,539 20% local Intermodal / public access 141 0 Hurricane Katrina 8,667 2,074 Water taxi, Joe Fulton trade corridor, Tule Lake Lift bridge rehab Federal U.S. Coast Guard 272 100 Capital improvements 470 0 Multi-modal port grant -- berth / RORO ramp 1,159 0 Repair litigation 9,221 0 197 0 388 0 FEMA pass through: emergency management 268 248 Security patrol vessel 2,718 Building coast. Capital projects Port priority funds Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose Federal TSA State - LA PCDPP Federal OHSEP State EDAP State DOTD 33 25% local Port security 27 3 Dock rehabilitation 0 84 Vessel traffic system 16 3 Buffer zone 700 0 State funds 94 94 Warehouse IMPORTANT: TOTALS MAY NOT ADD UP DUE TO ROUNDING. FY 2006 PUBLIC PORT FINANCE SURVEY (US$ 000s) GULF ALABAMA STATE GREATER BATON PORT OF PORT OF PORT ROUGE PORT CORPUS CHRISTI FREEPORT (TX) AUTHORITY COMMISS. (LA) AUTHORITY (TX) Federal DHS grant State DOT PORT OF GULFPORT (MISSISSIPPI STATE PORT AUTH.) PORT OF HOUSTON (TX) GREATER LAKE CHARLES LAFOURCHE HARBOR & PORT TERMINAL COMMISSION (LA) DISTRICT (LA) Federal FAA PORT OF NEW ORLEANS (LA) State LATPP ORANGE COUNTY NAVIGATION PORT DISTRICT (TX) PORT OF PORT ARTHUR (TX) Page 13 PORT OF ST. BERNARD PORT LAVACA / PORT OF SOUTH PORT, HARBOR & POINT COMFORT LOUISIANA (LA) TERMINAL (TX) DISTRICT (LA) Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose SALES OFFICES Foreign Offices Foreign Personnel Domestic Offices Domestic Personnel CARGO REPORT (actual numbers; in short tons) Breakbulk Automobiles Other RO/RO Containerized Dry Bulk Liquid Bulk TOTAL (actual short tons) RATIO ANALYSIS Op. Ratio (Op. Expenses / Op. Revenue) Op. Margin (Op. Income / Op. Revenue) Current Ratio (Curr. Ass. / Curr. Liabs. Pay. Curr. Ass.) Net Income / Op. Revenue (Net Income + Bond Int. Exp.) / Total Assets Net Income / Net PP&E (Op. Income + Deprec.) / Gross PP&E Op. Income / Net PP&E (Op. Income + Deprec.) / Op. Revenue Long-Term Debt / Total Equity Allow. for Bad Debts (Rsrv Bad Debts / Gross A/R) Avg # Days Sales Uncollected (Net A/R / (Op.Rev/360)) NOTES 557 0 Security enhancements Private Capital eq. 94 0 Tule Lake Lift bridge rehab 2,052 2,948 Aviation projects Federal NOAA 34 35 Coastal restoration Federal FEMA 35 0 State grant 3 0 Facility improvements 5,743 6,500 Hurricane repairs 1 4 3,226,984 1 1 114,280 1 8 208,351 48,346 1 4 341,143 1 2 63,817 685 345,489 1,303,748 85,174 1,798,913 222.2% -122.2% 1694.7% -20.0% -0.6% -1.6% -6.0% -9.5% -83.3% 20.0% 28.5% 128 2 15 7,449,630 95,719 16,111,132 6,991,990 9,788,170 40,436,641 82.8% 17.2% 359.1% 37.4% 5.7% 6.4% 6.0% 3.0% 34.2% 48.8% 5.2% 49 1 1 17,224,566 1 3 775,475 2 4 2 9 7,471,322 2,574 50,629 3,158,784 11,716,626 10,576,187 32,976,122 116.2% -16.2% 117.4% -22.3% -0.7% -1.7% 1.5% -1.2% 26.3% 25.0% 15.3% 21 1 1 1 929,910 4 60 9,000,947 422,545 19,705,756 1,235,534 24,590,819 90.6% 9.4% 151.1% 61.3% 13.1% 12.9% 4.5% 2.0% 28.5% 69.1% 2.4% 50 1,191,579 2,233,982 3,539,841 115.7% -15.7% 1750.4% 5.7% 1.0% 0.6% 1.7% -1.7% 30.2% 10.8% 0.0% 32 9,731,740 76,994,396 86,982,833 100.7% -0.7% 255.1% 34.8% 5.2% 5.7% 2.4% -0.1% 19.1% 12.0% 1.2% 52 644,161 598,013 1,583,317 83.8% 16.2% 629.8% 114.1% 8.0% 10.3% 2.9% 1.5% 36.6% 8.1% 0.2% 241 8,483,741 25,708,307 69.7% 30.3% 150.6% 76.1% 8.8% 10.7% 7.1% 4.3% 47.2% 0.1% 0.8% 95 4,624,246 3,276,106 8,675,827 86.9% 13.1% 346.9% 62.1% 7.0% 8.8% 3.8% 1.9% 39.4% 6.9% 0.0% 74 929,910 164.5% -64.5% 3085.1% -70.1% -3.4% -4.6% -4.3% -4.2% -64.5% 0.0% 24.5% 21 166.8% -66.8% 477.0% 16.2% 2.7% 1.0% -0.8% -4.1% -16.0% 68.2% 6.2% 66 4,226 4,013,004 4,017,230 88.3% 11.7% 955.5% 16.5% 1.5% 0.8% 1.5% 0.6% 30.6% 32.3% 0.0% 38 128,749,706 107,694,769 245,445,422 103.5% -3.5% 906.0% 14.7% 2.9% 1.8% 2.2% -0.4% 19.3% 75.6% 7.0% 54 3,789,652 3,789,652 215.4% -115.4% 330.7% 77.1% 2.9% 2.8% -0.8% -4.2% -21.7% 9.5% 0.0% 84 IMPORTANT: TOTALS MAY NOT ADD UP DUE TO ROUNDING. NORTH & SOUTH PACIFIC (inc. Western Canada) & GREAT LAKES (inc. Eastern Canada) 14 FY 2006 PUBLIC PORT FINANCE SURVEY (US$ 000s, unless otherwise specified) NORTH & SOUTH PACIFIC (inc. Western Canada) & GREAT LAKES (inc. Eastern Canada) OPERATING STATUS PLANNING (Strategic/Marketing/Financial/Development) PORT TYPE INCOME STATEMENT OPERATING REVENUE Marine Other TOTAL OPERATING EXPENSES Operating & Maintenance Expenses Security Expenses Sales Promotion/Trade Development Expenses All Other Administration Expenses Depreciation Expense TOTAL OPERATING INCOME OTHER INCOME (EXPENSES) Interest Earned Bond Interest Expense Tax Levies Contributions Other Items TOTAL NET INCOME BALANCE SHEET ASSETS Cash & Investments Trade Accounts Receivable (gross) Less: Reserve for Bad Debts Net Trade Accounts Receivable Other Current Assets TOTAL CURRENT ASSETS INVESTMENT IN PLANT, PROPERTY, & EQUIPMENT (PP&E) Land Buildings Other Improvements Equipment GROSS INVESTMENT IN PP&E Accumulated Depreciation [ALWAYS NEGATIVE!] Contruction in Progress NET INVESTMENT IN PP&E Restricted Assets All Other Assets TOTAL ASSETS LIABILITIES Current Liabilities Payable from Current Assets Current Liabilities Payable from Restricted Assets SUB-TOTAL CURRENT LIABILITIES Long-Term Debt PORT OF VANCOUVER, USA (WA) Page 15 PORT OF STOCKTON (CA) CLEVELANDCUYAHOGA COUNTY PORT AUTHORITY (OH) PORT OF PORTLAND (OR) PORT OF SEATTLE (WA) PORT OF PORT OF LONG PORT OF LOS HUENEME (CA) BEACH (CA) ANGELES (CA) PORT OF REDWOOD CITY (CA) SAN DIEGO UNIFIED PORT DISTRICT (CA) VANCOUVER PORT AUTHORITY, BC (CANADA) HALIFAX PORT AUTHORITY, NS (CANADA) ST. JOHN'S PORT AUTHORITY, NL (CANADA) THUNDER BAY PORT AUTHORITY, ONT. (CANADA) LTDOP OP All All Spec Purpose Spec Purpose LTDOP All Other NONOP Fin/Dev Spec Purpose NONOP All Municipal NONOP -Municipal NONOP Financial Other LTDOP OP All Fin/Dev Spec Purpose Spec Purpose NONOP Strategic Spec Purpose LTDOP All CPA NONOP All CPA OP Strat/Mktg/Fin OP Strat/Mktg/Fin CPA CPA 32,254 10,441 42,695 36,711 2,002 1,206 1,547 9,611 51,078 (8,384) 13,405 96,547 109,952 45,064 3,285 10,588 35,490 94,427 15,525 17,192 7,115 24,307 11,253 675 4,777 5,556 22,261 2,046 1,822 (1,395) 8,689 600 (15,512) (5,796) (3,751) 10,951 958 11,909 2,805 161 370 3,683 2,464 9,483 2,426 697 (1,905) 337,676 15,619 353,294 35,666 17,527 1,148 21,200 85,465 161,006 192,288 28,302 (54,110) 373,348 38,769 412,117 3,266 2,958 6,224 985 286 256 841 671 3,039 3,185 420 (552) 26 (613) (720) 2,465 19,267 15,366 34,633 16,346 3,509 624 6,648 8,095 35,222 (590) 15,629 14,696 30,325 13,283 1,720 1,250 7,099 3,922 27,274 3,051 675 (1,374) 677 (914) (935) 2,115 942 2,059 3,001 1,066 237 206 1,005 1,197 3,711 (710) 904 (974) 3,324 (957) 2,296 1,586 38,882 61,041 99,924 11,208 2,752 2,694 26,282 22,713 65,649 34,275 3,737 14,846 13,547 28,392 2,629 1,003 1,965 7,422 5,949 18,967 9,426 946 (1,022) 2,361 2,460 4,820 295 78 122 2,246 920 3,661 1,159 52 671 2,347 3,018 1,378 42 60 630 415 2,525 494 760 (387) 3,333 165,670 98,779 267,782 144,335 9,582 (37,787) (23,323) 61,518 (13,063) 25,131 (8,384) 40,656 523 (684) 1,742 (12,484) (38,293) 153,996 (23,563) (51,768) 92,567 596 596 6 See Notes below (9,165) (5,428) 28,847 (1,578) (1,655) 7,771 (268) (216) 943 170 543 1,037 89,652 11,843 943 10,901 12,702 113,255 522,053 619,796 351,903 126,945 1,620,698 (376,089) 91,050 1,335,659 37,026 2,050 2,050 1,624 40,700 33,128 36,999 113,336 13,426 196,889 (67,564) 4,917 134,241 1,849 56,103 232,894 8,424 8,424 87,867 12,510 1,767 30 1,737 758 15,005 13,189 29,353 45,752 1,133 89,427 (30,893) 1,261 59,796 10,598 2,913 88,312 2,581 2,140 4,721 33,225 563,904 47,784 6,020 41,764 4,466 610,133 848,904 1,782,557 288,959 16,684 2,937,103 (878,038) 145,554 2,204,620 313,266 94,757 3,222,776 86,058 56,081 142,139 1,098,491 447,836 108,916 70,350 38,566 14,932 501,334 955,824 1,661,073 656,696 62,203 3,335,796 (931,313) 328,221 2,732,704 12,136 58,136 3,304,310 273,021 273,021 829,982 12,987 765 24 741 385 14,112 2,574 3,209 16,646 850 23,279 (10,834) 21,256 33,701 1,483 575 49,870 5,265 237 5,503 9,896 134,368 12,559 359 12,201 2,999 149,568 171,851 442,880 91,361 36,843 742,936 (333,227) 23,767 433,476 47,599 3,697 634,341 25,072 18,689 43,761 101,927 5,447 3,611 3,611 1,267 10,324 22,655 79,263 5,815 16,759 124,492 (50,160) 15,206 89,539 15,497 1,319 116,678 7,727 7,727 39,841 9,280 1,095 1,095 3,563 13,938 19,823 33,639 758 54,220 (10,600) 39 43,659 6,083 973 64,653 5,034 88 5,122 13,804 89,017 13,711 27 13,684 5,803 108,505 118,292 156,051 383,874 54,669 712,886 (254,689) 27,102 485,298 22,514 5,706 186 5,520 28,034 30,287 43,694 108,424 23,373 205,778 (92,746) 3,697 116,729 2,181 697 21 676 2,857 6,961 8,375 28,706 841 44,883 (19,131) 327 26,078 16,035 391 45 346 224 16,605 410 11,982 18,695 1,117 32,203 (13,236) 18,967 4,449 1,453,362 28,051 621,854 38,449 38,449 1,721 326 145,089 16,358 16,358 5,800 28,936 5,544 5,544 298 35,572 580 580 IMPORTANT: TOTALS MAY NOT ADD UP DUE TO ROUNDING. FY 2006 PUBLIC PORT FINANCE SURVEY (US$ 000s, unless otherwise specified) NORTH & SOUTH PACIFIC (inc. Western Canada) & GREAT LAKES (inc. Eastern Canada) TOTAL LIABILITIES EQUITY Contributed Capital - Net Retained Earnings - Restricted Retained Earnings - Unrestricted TOTAL EQUITY TOTAL LIABILITIES & EQUITY OUTSTANDING BONDS Revenue Bonds G. O. Bonds Commercial Paper Conduit Financing Debt Other Debt TOTAL DEBT SERVICE Principal Interest TOTAL CONTRIBUTIONS, DONATIONS, AND GRANTS RECEIVED IN FY 2006 Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose PORT OF VANCOUVER, USA (WA) Page 16 PORT OF STOCKTON (CA) CLEVELANDCUYAHOGA COUNTY PORT AUTHORITY (OH) PORT OF PORTLAND (OR) PORT OF SEATTLE (WA) PORT OF PORT OF LONG PORT OF LOS HUENEME (CA) BEACH (CA) ANGELES (CA) PORT OF REDWOOD CITY (CA) SAN DIEGO UNIFIED PORT DISTRICT (CA) VANCOUVER PORT AUTHORITY, BC (CANADA) HALIFAX PORT AUTHORITY, NS (CANADA) ST. JOHN'S PORT AUTHORITY, NL (CANADA) THUNDER BAY PORT AUTHORITY, ONT. (CANADA) 96,291 104,273 817 31,512 136,602 232,894 172,447 416,645 56,555 28,255 37,946 8,915 41,451 50,366 88,312 34,560 1,240,630 0 1,397,337 584,809 1,982,146 3,222,776 1,031,815 60,150 1,103,003 1,844,939 63,917 292,451 2,201,307 3,304,310 770,099 113,561 4,105 887,765 24,711 37,787 62,498 Federal/State Various 15,399 145,688 47,568 4,922 60,253 3,936 69,110 116,678 28,697 4,789 18,926 30,670 5,696 9,361 45,726 64,653 12,541 40,170 150,259 431,426 581,684 621,854 22,158 50,857 72,074 122,931 145,089 5,843 18,422 4,671 23,093 28,936 580 18,239 16,754 34,992 35,572 1,246 33,226 34,471 49,870 9,815 405,365 83,288 488,653 634,341 48,405 645,647 79,949 29,668 109,617 Federal TSA/OSC/ODP 36,000 64,255 2,100 1,294 3,394 State Dept. of Ecology 34,560 1,160 1,924 3,084 Federal DHS/TSA 1,091,965 34,990 55,558 90,548 Federal DHS 652 10,467 233 552 785 DHS TSA 48,405 33,486 1,549 1,711 3,261 Federal U.S. Navy 448 12,989 2,431 974 3,405 26,600 1,470 28,070 858 268 1,126 Transport Canada 2,139 2,139 Federal DHS Security Funds 48,412 10,280 Security 600 600 Reimbursable portion of port's Environ. Remedial Cleanup 222 44 Security improvements 1,694 305 Port security 3,860 0 Security infrastructure 26 0 Security 1,378 14 Port security projects 576 0 Environmental remediation 92 0 Marine security program Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose Federal EPA State Urban Area Security Federal TSA 335 390 Environmental Federal DOT 604 139 Security enhancement State -- 31 11 Homeland security State (CALTRANS) DOT 13,449 2,333 Grade and trail work State DOE 2,298 444 CALTRANS infrastructure program 70 18 Bridge replacement Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose Source Type State PADP 5,682 5,647 Environmental State City of Seattle 16,824 8,749 Street improvements 1,340 0 Grade separation State PSCAA IMPORTANT: TOTALS MAY NOT ADD UP DUE TO ROUNDING. FY 2006 PUBLIC PORT FINANCE SURVEY (US$ 000s, unless otherwise specified) NORTH & SOUTH PACIFIC (inc. Western Canada) & GREAT LAKES (inc. Eastern Canada) Amount ($ 000s) Matching Funds ($ 000s or %) Purpose Source Type Amount ($ 000s) Matching Funds ($ 000s or %) Purpose SALES OFFICES Foreign Offices Foreign Personnel Domestic Offices Domestic Personnel CARGO REPORT (actual numbers; in short tons) Breakbulk Automobiles Other RO/RO Containerized Dry Bulk Liquid Bulk TOTAL (actual short tons) RATIO ANALYSIS Op. Ratio (Op. Expenses / Op. Revenue) Op. Margin (Op. Income / Op. Revenue) Current Ratio (Curr. Ass. / Curr. Liabs. Pay. Curr. Ass.) Net Income / Op. Revenue (Net Income + Bond Int. Exp.) / Total Assets Net Income / Net PP&E (Op. Income + Deprec.) / Gross PP&E Op. Income / Net PP&E (Op. Income + Deprec.) / Op. Revenue Long-Term Debt / Total Equity Allow. for Bad Debts (Rsrv Bad Debts / Gross A/R) Avg # Days Sales Uncollected (Net A/R / (Op.Rev/360)) NOTES PORT OF VANCOUVER, USA (WA) Page 17 PORT OF STOCKTON (CA) CLEVELANDCUYAHOGA COUNTY PORT AUTHORITY (OH) PORT OF PORTLAND (OR) PORT OF SEATTLE (WA) PORT OF PORT OF LONG PORT OF LOS HUENEME (CA) BEACH (CA) ANGELES (CA) PORT OF REDWOOD CITY (CA) SAN DIEGO UNIFIED PORT DISTRICT (CA) VANCOUVER PORT AUTHORITY, BC (CANADA) HALIFAX PORT AUTHORITY, NS (CANADA) ST. JOHN'S PORT AUTHORITY, NL (CANADA) THUNDER BAY PORT AUTHORITY, ONT. (CANADA) 30 0 Retrofit cargo ship State ALEA 290 295 Pier improvement 4 4 0 6 992,135 564,036 1,780,208 8,436,487 15,228 11,788,094 119.6% -19.6% N/A -19.6% N/A N/A N/A N/A 2.9% N/A N/A 0 Port did not report on Balance Sheet, Outstanding Bonds, and Debt Service Payments as they do not segregate Marine operations from other General Fund operations supporting aviation. 4 4 1 1 145,487 1 1 798,557 73,018 2,606 4,170,343 681,104 5,725,628 91.6% 8.4% 483.1% -15.4% -1.0% -2.8% 3.9% 1.5% 31.3% 64.3% 0.0% 30 Type of Governmental Agency: Other (State Municipal Corp). 1 1 See Notes below 1 5 4,970,170 638,533 42,800,693 10,444,340 35,122,284 93,976,020 45.6% 54.4% 709.0% 43.6% 6.5% 7.0% 9.5% 8.7% 78.6% 55.4% 12.6% 43 10 10 2 2 See Notes below 0 0 1 1 2,020,559 1 12 463,500 458,900 670,246 1,291,111 137,900 3,021,657 101.7% -1.7% 596.6% 0.0% 0.0% 0.0% 1.0% -0.1% 21.7% 20.9% 2.9% 127 San Diego uses a consolidated balance sheet for all operations, including maritime and real estate. 0 0 1 2 472,566 1 1 585,100 2 3 1 160 3,522,730 0 0 1 8 150,360 112,447 125,686 5,039,789 4,160,112 5,490,990 15,079,384 66.8% 33.2% 171.4% 27.4% 5.4% 6.7% 7.5% 8.1% 54.2% 4.7% 3.3% 70 Currency is in CDN $. 1 14 3,440 31,867 114,927 565,245 10,555 9,712 735,747 76.0% 24.0% 51.5% 19.6% 3.3% 3.6% 4.6% 4.4% 43.1% 1.3% 3.0% 50 Currency is in CDN $. 904,526 299,527 47,018 155,255,000 62,146 15,116,767 6,505,644 1,126,153 22,894,051 85.9% 14.1% N/A 37.0% 4.4% 3.0% 3.1% 1.2% 46.4% N/A 8.0% 36 Liabilities and equity information not available for Seaport Division -- that data is available only on a portwide (consolidated) basis. 148,599 1,399,670 79.6% 20.4% 581.4% 14.6% 4.1% 2.9% 5.5% 4.1% 41.1% 66.0% 1.7% 53 Cargo tonnage is in REVENUE tons. 3,583,000 22,797,000 181,635,000 65.0% 35.0% 183.6% 22.5% 3.9% 3.4% 7.3% 5.3% 59.0% 37.7% 64.6% 34 Cargo tonnage is in METRIC REVENUE tons. 2,020,559 48.8% 51.2% 268.0% 39.6% 6.0% 7.3% 16.6% 9.5% 62.0% 28.7% 3.1% 43 2,635,322 676,329 3,784,217 89.9% 10.1% 133.6% 7.0% 3.0% 2.4% 5.6% 3.4% 23.0% 57.6% 0.0% 43 4,021,900 4,607,000 123.7% -23.7% 276.9% 52.8% 4.0% 3.6% 0.9% -1.6% 16.2% 30.2% 0.0% 131 19,458,317 55,439,718 9,354,734 87,775,499 65.7% 34.3% 282.2% 28.9% 4.6% 5.9% 8.0% 7.1% 57.0% 0.3% 0.2% 49 Currency is in CDN $. 9,054,915 215,613 9,332,674 83.7% 16.4% 2862.9% 34.4% 2.9% 5.5% 2.8% 2.6% 30.1% 0.0% 11.5% 41 Currency is in CDN $. IMPORTANT: TOTALS MAY NOT ADD UP DUE TO ROUNDING. APPENDIX FY 2006 AAPA Port Finance Survey Questionnaire FY 2006 AAPA Finance Survey [Office Use Only] Region: 1 2 3 4 5 6 Page 1 of 4 FY 2006 AAPA PORT FINANCE SURVEY QUESTIONNAIRE (Please report only information relative to your port's MARINE operations) Port: ____________________________________________________________________________________ City/State: ___________________________________________________ Prepared by: ________________________________ Phone: ____________________________________ Title: ______________________________________ Fax: ______________________________________ Email: __________________________________________________________________________________ For the fiscal year ended: ___________________________ , 2006 NOTES: [NO LATER THAN 12/31/2006] a) Return NLT , 2007, to AAPA [fax: 703-684-6321]. b) [U.S. ports] Put currency in ACTUAL US $, rounded to nearest dollar. [Canadian ports] Put currency in ACTUAL CANADIAN $, rounded to nearest dollar STATEMENT OF EARNINGS (FY 2006) (U.S. ports: Actual US$; Canadian ports: Actual CAN$) Line Description 1 Operating Revenue: 2 Marine Terminals (Pier Leases, Tariff Charges) 3 Other Marine Terminal Revenue (Warehouse, Land & Bldg. Rentals, etc.) 4 Total Operating Revenue [2+3] Actual US/CAN $ $0.00 Line 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 $0.00 5 Operating Expenses (Marine Related): 6 Operating and Maintenance 7 Security 8 Sales Promotion/Trade Development 9 All Other Administration 10 Depreciation 11 12 Total Operating Expenses [sum (6..10)] Operating Income [4-11] $0.00 $0.00 $0.00 13 Other Income (Expenses) 14 Interest Earned 15 Bond Interest Expense (see section 2, p.3) 16 Tax Levies 17 Contributions (total from section 3, p. 3) 18 Other Items (Specify): 19 __________________________ 20 __________________________ 21 __________________________ 22 __________________________ 23 __________________________ 24 __________________________ 25 26 Total Other Income (Expense) [sum (14..24)] NET INCOME [12+25] $0.00 $0.00 $0.00 25 26 A-1 FY 2006 AAPA Finance Survey [Office Use Only] Region: 1 2 3 4 5 6 Page 2 of 4 BALANCE SHEET (FY 2006) (U.S. ports: Actual US$; Canadian ports: Actual CAN$) Line Description ASSETS Actual US/CAN $ Line 27 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 28 Current Assets: 29 Cash and Investments 30 Trade Accounts Receivable (Gross) 31 Less: Reserve for Bad Debts 32 Net Trade Accounts Receivable [30-31] 33 Other Current Assets 34 Total Current Assets [29+32+33] $0.00 $0.00 $0.00 $0.00 35 Investment in Plant, Property and Equipment: 36 Land 37 Buildings 38 Other Improvements 39 Equipment 40 Total [sum(36..39)] 41 Less: Accumulated Depreciation 42 Construction in Progress 43 Net Investment in Plant, Prop. & Equip. [sum (40..42)] 44 Restricted Assets 45 All Other Assets 46 47 TOTAL ASSETS [34+43+44+45] LIABILITIES Total Current Liabilities Payable from Current Assets Total Current Liabilities Payable from Restricted Assets Total Current Liabilities [48+49] Long-Term Liabilities Total Liabilities [50+51] EQUITY $0.00 $0.00 $0.00 $0.00 46 47 48 49 50 51 52 53 $0.00 48 49 50 51 52 53 $0.00 54 55 56 57 58 $0.00 $0.00 54 Contributed Capital - Net 55 Retained Earnings - Restricted 56 Retained Earnings - Unrestricted 57 58 Total Equity [54+55+56] TOTAL LIABILITIES AND EQUITY [52+57] $0.00 $0.00 A-2 FY 2006 AAPA Finance Survey [Office Use Only] Region: 1 2 3 4 5 6 Page 3 of 4 Section 1: OUTSTANDING BONDS (List types and amounts of bonds outstanding as of the end of FY 2006) (U.S. ports: Actual US$; Canadian ports: Actual CAN$) Line 1 2 3 4 5 6 7 8 Types of Bonds Revenue Bonds G. O. Bonds Commercial Paper Conduit Financing Debt Other Debt (Specify): _______________________ Amount Outstanding (Actual US/CAN $) Total [sum (1..7)] Line 1 2 3 4 5 6 7 $0.00 8 $0.00 Section 2: DEBT SERVICE PAYMENTS (for FY 2006 ONLY) (In most cases, BUT NOT ALL, the interest section below should equal line 15) (U.S. ports: Actual US$; Canadian ports: Actual CAN$) Types of Bonds Revenue Bonds G. O. Bonds Commercial Paper Conduit Financing Other Debt Total Section 3: Principal (US/CAN $) Interest (Actual US/CAN $) $0.00 $0.00 $0.00 $0.00 Total (Actual US/CAN $) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 CONTRIBUTIONS, DONATIONS AND GRANTS RECEIVED IN FY 2006 Please show sources (federal, state, local, foundations, etc.), and types (ISTEA, EDA, etc.) -Purpose, amount, and matching funds required, too (U.S. ports: Actual US$; Canadian ports: Actual CAN$) Source Type Purpose Amount $0.00 Matching Funds $0.00 Total Section 4: $0.00 $0.00 CARGO REPORT [FY 2006 Cargo Handled (in SHORT TONS of 2,000 Lbs.)] Line Type of Cargo General Breakbulk Autos (in Short Tons) Other Ro/Ro (in Short Tons) Containerized (in Short Tons Dry Bulk Liquid Bulk Total Short Tons [sum (1..6)] Actual Tonnage (Short Tons) 0 ST 1 2 3 4 5 6 7 0 ST A-3 FY 2006 AAPA Finance Survey [Office Use Only] Region: 1 2 3 4 5 6 Page 4 of 4 SALES OFFICES (Number of sales promotion/trade development field offices and personnel, including those in the port city) Foreign Offices Personnnel (number) Domestic Offices Personnel (number) _________ _________ _________ _________ TYPE OF OPERATION (Please check only one) Non-operating [NONOP] Operating [OP] Limited Operating (combination) [LTDOP] _________ _________ _________ TYPE OF GOVERNMENTAL AGENCY (Please check only one) (1) Bi-state Authority [Bi-state] (2) State Department, Authority or Agency [State] (3) County Department, Authority or Agency [County] (4) Municipal Agency [Municipal] (5) Special Purpose Port/Navigation District or Authority [Spec Purpose] (6) Canada Port Authority [CPA] (7) Other (be specific) [Other]:____________________________ _________ _________ _________ _________ _________ _________ _________ EXTENT OF PLANNING (Please check all applicable and indicate year plan was adopted and/or last modified) Type of Plan Strategic Plan Marketing Plan Financial Plan Development Plan (for facilities, etc.) Yes No Year adopted or last revised A-4