MANAGEMENT’S DISCUSSION AND ANALYSIS Financial Statements (Continued) Revenues, Expenses and Changes in Net Position: The following table illustrates the history of revenues, expenses and changes in net position for the past three years ending June 30, 2019, 2018, and 2017, respectively. 2019 2018 Operating revenues: Container cargo General cargo Liquid and dry bulk Operating revenues Operating expenses: Operation and maintenance of facilities General administration Depreciation Operating expenses Operating income Non-operating income (expense) Investment income Interest expense Noncapital contributions Noncapital port development expense Capital contributions repaid to the State Gain (loss) on sale/impairment of capital assets Other Non-operating expense, net Capital contributions Extraordinary item: Loss Due to Hurricane Matthew Change in net position Total net position, beginning of year Total net position, end of year $ $ 410,006 58,752 4,861 473,619 195,891 68,509 61,148 325,548 148,071 7,224 - 274 (380) (7,198) 38,583 (10,395) 28,108 21,151 - 197,330 1,498,836 1,696,166 $ $ 364,504 54,410 7,468 426,382 168,008 65,171 58,784 291,963 134,419 3,864 (30) 710 (60) (4,735) (5,585) (2,567) (8,403) 4,921 - 130,937 1,367,899 1,498,836 $ $ 2017 311,193 51,708 10,082 372,983 149,457 54,894 55,336 259,687 113,296 1,463 (280) 13,404 (12,903) (4,508) (208) (4,994) (8,026) 9,911 (850) 114,331 1,253,568 1,367,899 Total fiscal year 2019 operating revenues of the Authority were a record $473,619 or 11.1% greater than the fiscal year 2018 revenue of $426,382. Fiscal year 2018 operating revenues were 14.3% greater than fiscal year 2017 revenue of $372,983. The revenue increases over fiscal year 2017 were primarily attributable to increases in container volumes over the two fiscal years. 10
