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, 2020, 2019, and 2018, respectively. 2020 2019 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) income, net Capital contributions Change in net position Total net position, beginning of year, as restated Total net position, end of year $ $ 415,726 61,014 4,988 481,728 200,532 75,786 67,005 343,323 138,405 4,706 - 27,767 (26,011) (5,472) 422 (8,972) (7,560) 5,774 136,619 1,696,166 1,832,785 $ $ 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 $ $ 2018 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 Total fiscal year 2020 operating revenues of the Authority were a record $481,728 or 1.7% greater than the fiscal year 2019 revenue of $473,619. Fiscal year 2019 operating revenues were 11.1% greater than fiscal year 2018 revenue of $426,382. The revenue increases over fiscal year 2018 were primarily attributable to increases in container volumes over the two fiscal years. 10
