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Corporation poised to break even

Recently gazetted financials -- the latest results available are for the fiscal year ended March 31, 1995 -- show the corporation with a fund deficit of only $66,615 compared to $372,772 a year earlier. Fund deficit at start of fiscal 1994 was $401,971.

Total revenue for the fiscal year ended March 31, 1995 was $1.9 million compared to $1.3 million for the prior fiscal year period.

On the revenue side, goods wharfage rose substantially to just over $1 million from $518,977. Port dues as well as Government grants were also up while rents from properties were unchanged. Taxes declined to $234,596 from $245,936.

On the expenditure side, costs rose to $1.6 million from $1.3 million.

Administrative and office salaries, the largest portion of costs, rose to $521,134 from $413,295. Street maintenance tripled to $266,131. Office expenses as well as employee's pensions and insurance were also up.

Sanitary service maintenance and operating costs were down, as were bad debt expenses.

Excess of revenue over expenditure was $306,157 compared to $29,199. Assets were $580,959 minus liabilities of $647,574 result in the $66,615 deficit.