[0:04] All right. Good morning, everyone. Welcome to the

[0:10] the NAMB report authority board of your commissioners meeting. I ask everybody to stand.

[0:17] I'm going to lead a minister of care to leaders in a pledge.

[0:21] I pledge allegiance to the flag of the United States of America and to the Republic of

[0:28] the British hands, one nation under God, and to the people in the liberty of God, to

[0:33] our honor.

[0:44] At this time, I'd like to recognize the port ambassadors that are here, so when I call

[0:50] your name, if you would please stand so that we could see who you are.

[0:55] Mike Mervis,

[1:02] Bob Sox,

[1:06] Janice Scott,

[1:13] Robbie Roberts,

[1:19] Bob Sox,

[1:23] and Mike Grittal.

[1:27] Thank you.

[1:29] We appreciate everything that you ambassadors do for the Port Authority.

[1:35] First item on the agenda is approval of the agenda today.

[1:40] So moved, Mr. Chairman.

[1:42] Second.

[1:42] And moved in seconded discussion on favor say aye.

[1:46] Aye.

[1:47] Okay.

[1:47] Motion approved.

[1:48] The agenda.

[1:50] And next item on the agenda is approval of the minutes of our workshop on March 24th,

[1:56] 2026.

[1:59] So moved.

[2:00] Second.

[2:02] Discussion on favor say aye.

[2:05] Next is approval of the commission meeting on March 25th, 2026.

[2:12] So moved.

[2:13] Second.

[2:13] Second discussion.

[2:15] On the paper say aye.

[2:17] Aye.

[2:17] Okay.

[2:18] These minutes are approved.

[2:20] Next item is personal appearances and presentations.

[2:26] Presenting the helm students, Raquel Mooney.

[2:31] Okay, thanks for being with us.

[2:35] Good morning, Captain Marion, commissioners.

[2:39] My name is Rick Helmlandy, I'm the Human Resource Manager here at the port, and I'm happy to introduce the Rockledge High School Helm Program instructor, Anthony Garcia.

[2:47] He's brought along three students with them, they will go over a presentation regarding their Helm experience in their program at their high school.

[2:54] I just wanted to touch on that the poor has been supportive of the home program along

[2:59] at the propellor hub and the local affiliates here at the port.

[3:03] Without further ado, and then if you could come up to the podium, please.

[3:12] Okay, good morning, and thank you for having us today.

[3:15] Ladies and gentlemen of the Port Commission, esteemed guest and colleagues.

[3:18] I'm Anthony Garcia-Sanchez, and it is truly an honor to stand before you and

[3:22] to share the work of our students in the maritime program.

[3:25] This program represents not only technical learning, but also the relationships, mentorship, and real-world experience that helps shape our students into future professionals.

[3:34] Over the last three to four years, these students have dedicated themselves to learning about an industry that is vital to our community and our economy.

[3:41] Through hands-on experiences, partnerships, and guidance from professionals like many of you in this room, they have developed both knowledge and a strong sense of purpose.

[3:49] I've only been with these students for a short few months, but I was surprised to see how many of them are truly dedicated and excited to join the maritime industry.

[3:56] I feel very inspired by them and the work they are putting in for their futures.

[4:00] I wanted to shout out Rich Grimisson from the propeller club education committee who has helped me tremendously with running the program, coordinating guest speakers, and teaching students how to use the ship's

[4:08] classroom. I would not have been able to be a successful maritime teacher without

[4:13] his help. The students you are about to hear from have committed years to this program.

[4:18] They have challenged themselves, grown in confidence, and begun to define their paths within

[4:22] the maritime industry and beyond. At this time, I would like to introduce our home seniors

[4:26] who have completed at least three years in the program and are now preparing to take their next steps.

[4:33] Good

[4:39] morning. I'm Aubrey Burry. I will be attending main maritime academy.

[4:43] Okay, good

[4:49] morning. My name is Adam Loyek. I will be working part-time at the board while attending EFSC.

[5:00] Good morning, everybody. My name is Richard Harris, and I will be trying to weld for the port one day, hopefully, you know. Thank you.

[5:18] Okay, so this is our maritime one students. There are taking the boat tours. Just seen all the cars or cargo and cruise terminals. And I went on this one, and I had a lot of fun with this one, especially with on the boat. It felt so good. And then I'm just really proud to be in this. Thank you.

[5:37] So

[5:54] in this picture, we see it on the left-hand side.

[5:58] Those are our helm students with Rich Grimerson,

[6:02] how to use a ship simulator in the classroom.

[6:05] Having a simulator is honestly a lot of fun.

[6:07] We have a lot of fun seeing how a ship operates

[6:11] with the proper controls and the screen

[6:14] and displays and all that.

[6:16] And on the right, that's us actually on a cruise ship

[6:19] like learning how everything works

[6:20] and the captain explaining how the controls work

[6:24] and how they communicate with the engineering.

[6:28] And yeah, thank you.

[6:33] All right, so I want to say some things about our program.

[6:37] It started here originally in 2015, so you know, a few years ago.

[6:41] It's the only school in Provard to offer the program,

[6:45] which is pretty cool.

[6:47] There are currently 107 students enrolled in the program

[6:50] with 36 enrolled in three and four.

[6:54] 14 students had passed their CLA and CLT, and earned their certificates in shipping and logistics.

[7:01] Five students will be joining Maritime Related Fields after graduation.

[7:05] One student attending the Massachusetts Maritime Academy.

[7:09] One student attending the main Maritime Academy.

[7:13] And two students joining the US Navy, and two students are pursuing a degree in Maritime Related Fields.

[7:25] The topics we covered in our program are the bridge resource management

[7:28] simulators. I really like that one. When I went and visited my school up in Maine,

[7:34] I told them about our program and they were really surprised to even hear that

[7:38] we had the simulator at all. Create skills, we have resumes, interviews, and then

[7:46] cover letters, and then for maritime terminology and basic skills, which is like

[7:54] Navigation, safety security practices, and the not tying, which I did that my freshman year, and I really liked it.

[8:02] Our history in the maritime industry, maritime related post-secondary opportunities,

[8:07] ocean engineering, port and terminal operations, ship security, marine biology, cruise industries,

[8:15] sea perch underwater, ROVs, did that my freshman year for super fun. We had a whole race about it

[8:21] in our pool at the school.

[8:24] We did a Coast Guard.

[8:25] I know we did a few field trips to the Coast Guard base.

[8:29] And then motor safety course.

[8:31] I know we did that last year.

[8:33] And then career mentoring, job shadowing,

[8:36] which hopefully gets to be able to do

[8:39] job shadowing with Rich.

[8:41] And then field trips and then on the job training

[8:44] and guest speakers.

[8:51] So if you all were here very recently,

[8:54] You know that we were at the port authority career panel. It was really fun

[8:59] We learned a whole lot of stuff like we learned about the different instantaries like construction and

[9:05] all the different all the different industries that we have at the port

[9:10] We were very lucky to have

[9:12] Different people from the port authority come speak to us and we learned a lot and

[9:20] Yeah,

[9:24] thank you guys so much for having us

[9:25] Well

[9:37] thank you guys for going and sharing with us and Anthony, thank you for bringing them in.

[9:43] Hopefully you will continue with the program Anthony and all of y'all in a maritime field will do everything that you want to.

[9:51] Good experience. Thank you very much.

[10:09] An item that I would like to discuss at this time, we've heard the success of the helm program

[10:17] and how well it's been since it was started in 2015. We also have had in the past the junior

[10:25] ambassador program. Last year, there were 12 students from 17, seven high schools in one

[10:35] at home school that we're involved in our junior ambassador program.

[10:42] In that program all the

[10:44] commissioners did have an opportunity to speak to the ambassadors talking about the port and what

[10:49] all goes on at the port and even more important besides commissioners being involved.

[11:04] Many

[11:04] port ambassadors. The focus included military coast guard, harbor masters, which Jim

[11:14] Agrimson was very busy doing all that environment, recreation cargo. The board shares

[11:21] apartment dogs for our rescue, commercial fishing, space construction, engineering, hospitality

[11:28] the cruise and maybe along the way there was some welding demonstration that you thought

[11:35] maybe you would like to do some welding at the port.

[11:39] And the ambassadors, Jessica Maxwell and Bob Socks, our ambassadors were very well assisted,

[11:47] great being at the program.

[11:49] The matter has been discussed, I would like to entertain a motion that we continue the

[11:58] junior ambassador's program for the 26th, 27th school year.

[12:04] So moved.

[12:06] Sorry.

[12:06] Any discussion?

[12:10] I'll in favor say aye.

[12:11] Aye.

[12:12] All right.

[12:13] Thank you.

[12:16] It is a great program outreach to the community and the student setting up of our county.

[12:24] Moving on down reports, CEO report, Captain Murray.

[12:36] Good morning.

[12:37] Good morning.

[12:38] I'm going to be brief today because we want to get out of here early, there's a Falcon

[12:42] heavy launch at 1013.

[12:44] I was still on to this morning with two boosters coming back to land so one of those exciting

[12:51] launches.

[12:52] So I don't want to be the one who holds it up for everyone.

[12:54] Okay, jump it right in, numbers have been good, 602 calls, so this is through March 31st, 4.9 million multi-day passengers were ahead of where we were last year, so everything's tracking well.

[13:07] Seasonal ship changes the seashore return from dry dock in April 19th, the Carnival glory return on April 24th from dry dock as well.

[13:14] Caribbean Princess arrives to the summer seasons starting on May 11th, and the Carnival Venetias final call is May 17th.

[13:21] that was a seasonal winter ship for Carnival.

[13:24] We attended the C-Trade Cruise Global event on April 13th of the 16th.

[13:29] We had, that's a photo of our booth in the background.

[13:31] It was a great event.

[13:32] A lot of discussion with the cruise lines.

[13:35] And everybody wants two or three more bursts of port Canaveral.

[13:39] So it's an exciting time in the industry, I have to say.

[13:43] So it was a good event, good meetings.

[13:46] On the cargo side, 379 through March,

[13:49] 379 ship calls, 3 million tons.

[13:52] Space component recoveries with SpaceX 39 boosters, 84 fairings.

[13:56] Blue Origin, one booster.

[13:58] Remember this is due March 31st, the second one has arrived since then.

[14:01] We also had a state of Florida trade mission to Brazil with the April 14th and 17th.

[14:08] Samantha Cornelius and George Eroger did that trip for us, represented the port with the state.

[14:14] I joined 18 delegates from State of Florida and other industry and port partners.

[14:21] Instructure also, our port partner here in Port Canaveral was also in attendance.

[14:26] Business meetings with Department of Commerce, Consulate General, others in Brazil.

[14:30] But the big thing for us is following up with Ember Air who has a operation in Melbourne.

[14:36] It's their manufacturing facility in the US and we've been trying to work with them on their foreign trade zone activation discussions.

[14:43] And there was some good conversation there and subsequent meetings coming up as a result of that trip.

[14:48] So it was a successful mission.

[14:51] In communications, we had a lot of meeting engagement on NASA's Artemis II launch in April 1st at 15 local and national.

[15:00] International media accommodated at Jetty Park. Live coverage, segment reporting before, during

[15:05] and after the event, 327 media mentions 78 million total impressions and on-site media

[15:11] included international BBC, which is great ITV, both British television, we have CNN,

[15:17] all the other standards, and of course, our nine local affiliates. So it was a great, great

[15:21] event, successful launch. On a government relations update, we've got the US of Space

[15:28] Baseco's EDC Roundtable discussion March 20th that was led by Senator Mayfield for UDC regarding prior discussion to status of regional advance wastewater treatment facility that's up on the Space Force, DASA and issues and that's been bubbling up on

[15:45] waste water disposal up in the space force area.

[15:51] We also did select Florida Gateways Advisory Council Board March 25th.

[15:56] Select Florida is one of the promotional agencies of the Department of Commerce and

[16:00] State of Florida.

[16:00] Now I'm going to be a part of that in those discussions.

[16:03] They did the legislative wrap up as well.

[16:05] We had a joint military act as shape program as we've been doing this for years of March 30th.

[16:10] 55 military officers come through the port.

[16:14] We also had Florida Transportation Commissioners tour in briefing, March 31st, as the Governor

[16:19] appointing commissioners with stops at Canaveral and Space Florida, Transportation Commission

[16:23] is set for, sets, transportation policy at the executive office level, Florida.

[16:30] We also had an introductory report briefing for new CDP port director in Orlando, April

[16:36] Second, he came here, but he's the area port director that controls Port Canaveral.

[16:41] We had the SLD-45 command briefing in Port Tour on April 7th.

[16:46] Colonel Chapman, Commander, was here with his leadership team.

[16:49] We did a port briefing, discussion topics of the request of Colonel Chapman.

[16:54] And the role of the port plays a military national security partner, linkages, how we have BCSO, Coast Guard, no two SLD-45, and how we all interact with one another at various times.

[17:04] times.

[17:05] We also talked about counter-responsibilities for drones, response, disaster-response security

[17:12] operations.

[17:12] This is a good discussion.

[17:14] We were going to do a port tour, but the weather was too bad, so we get to spend an extra

[17:17] hour in conference room, which was well-used time.

[17:21] We also attended a public safety roundtable hosted by Sheriff Wayne Ivey and Congressman

[17:26] Byron Donalds on April 7th.

[17:28] We participated in the discussion highlighted unauthorized drone flights over Florida.

[17:37] We have no restrictions anywhere in the United States on drones flying over sea ports, which is designated critical infrastructure, but it's something controlled by the Federal Aviation Authority.

[17:49] They've been charged with writing rules since 2016 regulation.

[17:53] They haven't done it, but they're starting to get there now, and we're very active in pursuing whatever means we can to segregate seaports as a strategic location that should not have drones flying over without any sort of prior authorization, so we'll be having more on that in subsequent meeting.

[18:12] A recreation event, JD Park Campground, 95% pretty good for this time of year.

[18:17] Theical count, I-22, total count, 16,000 for the month, we're open for five of eight launches.

[18:23] And the day park capacity was reached twice, obviously,

[18:25] the archivist contributed to that.

[18:27] Supported events, we had St. Patrick's Day, employee appreciation, food truck,

[18:31] an employee appreciation, and a family fishing event.

[18:35] In community engagement, we've done quite a few things.

[18:38] We've got the Rockledge High Helm Program,

[18:40] and we have the students here today,

[18:42] just some items that they toured the cargo ops,

[18:46] the crews, boat rides, visited the cruise ship Maritime Center.

[18:50] It was a great season for them, great year,

[18:53] and I think it was great to hear from them this morning.

[18:56] On the environmental stewardship side,

[18:57] we've got keep of our beautiful trash bash

[19:00] was on the 11th.

[19:01] We are the port primary sponsor of four events,

[19:04] 100,000 pounds of debris collected by 900 bottles

[19:07] here is across 40 locations.

[19:08] We also had the C-Total Preservation Society shell operation fundraiser on March 21st.

[19:13] The port sponsored that.

[19:15] There were 298 attendees and they raised $35,000 for conservation and education programs.

[19:21] Also, we had port sponsorships for the Canal of the World,

[19:25] Canal Report Ministry Gala on March 5th, the event raised $177,000 supporting $120,000 C-Ferres.

[19:32] It's an annual event, so that was pretty good take for them this year.

[19:35] We had lead Brevard 4 on the 40 Gail on February 13th, that event raised $118,000 to Spallant Scholarships.

[19:44] Commissioner Lloyd presented the Leadership Icon Award at the Biennale Company.

[19:49] And we had the Brevard Corporate 5K on April 9th, that's held every year at the Melbourne Orlando Airport.

[19:56] 25 CPA employees and numbers increasing every year participated to raise funds.

[20:00] Thank you all for running zone charity, and our team placed 10th in their category. Thank you. How many entries? 10 is good, bad. I don't know. I see some head shaking up there. Okay. We're going to dwell on that. Okay. And that's my report. I got one more thing. I want to say is that Amanda, who's been running our HR department, Brillsburg Arena, Urbina is going to be retiring next week. She's not here today, but I did want to call her out. I believe she is going to be about three weeks shy of

[20:29] ten years here at the port. So she's been a very integral part of everything we've done

[20:34] in the last ten years and building a new team here at the port and just want to say thank

[20:39] you publicly to her and everything she's done. And we as commissioners think her for the job

[20:46] that she's done as part of the team making board, but what it is today and all of you.

[20:53] Thank you. I appreciate everything she's done and if you start to notice people are starting

[20:57] to where their lapel pins would take how many years they've been here. So that's a new feature

[21:02] at the port. You didn't have too much of that when I first got here. So we're happy with the way

[21:07] things have gone over the years. So thank you, Amanda, and any questions? Can we give one of those lapel

[21:13] pins for Jerry? You know, we have one being made that gold is at a high price right now, so waiting

[21:20] for the price to adjust a little bit before we say yes on the order. And they'll give it to me just

[21:27] I just want to leave and I want to have the reason to wear it again, so I'd like to get it ahead of time.

[21:37] Next, consideration

[21:42] of proving the financial memo, Jeff Long, CFO is going to tell us how wonderful the finances are.

[21:52] Good morning commissioners, Mr. Bislon and Captain Murray.

[21:55] I am pleased to review our six month results for fiscal year 26, so we have completed and closed out through our second quarter through March.

[22:06] So let's get right into the numbers.

[22:09] The first slide I'm going to show here is a year-to-date slide that shows our revenues, expenses, and operating income compared to our budget for the six months.

[22:21] So as you can see, our operating revenues came in at 128.5 million, which was about

[22:29] $4.3 million ahead of our budget for the six months.

[22:34] So we were up a little over 3% favorable variance to budget.

[22:39] Now the majority, in fact, all of that increase that favorable variance is related to our increased

[22:47] increased accrued activity as compared to budget, partially offset by a little bit of

[22:53] softening in our cargo area. So we're doing very well from a revenue perspective.

[22:59] From an operating expense perspective, we're also doing very well. For the six months,

[23:07] we actually are under budget by about $4.3 million or about 5%, but I will say that I estimate

[23:15] This variance is entirely related to timing, meaning the second half of the year will start to have some of the timing normalize, and I do expect us to be over budget on the second half of the year, but we will continue and we always manage to our full year budget for operating expenses.

[23:35] So, the result of our operating revenues and operating expenses and the variances result

[23:41] in our operating income of nearly 53 million for the six months.

[23:46] So, very impressive numbers, again 8.6 million favorable as compared to budget, which

[23:54] half of that obviously is from operating revenue exceeding budget and the other half because

[23:59] operating expenses came in under budget.

[24:02] But what I want to also point out is how strong our margins have been through the first six months of the year.

[24:10] So our operating margin, the way we calculate that, we take our operating income divided by operating revenue.

[24:18] And it's a great indication of how efficient we are with our revenue and how we are managing our expenses.

[24:25] And as you can see compared to budget, we are doing quite well from a margin perspective.

[24:31] So, better than budget because of those favorable variances.

[24:35] Now the next slide I'm going to show you takes a look at our six months actual results

[24:41] compared to where we were this time last year.

[24:44] So compared to through March of fiscal year 25.

[24:48] And what we see from an operating standpoint is very impressive.

[24:52] that we are actually up 15% or 16.8 million dollars.

[25:00] Ahead of where we were just one year ago, so very impressive growth. And as you can predict,

[25:07] that growth is related to our increased cruise activity, cruise calls, and passengers that we've

[25:14] moved here through the port. From an operating expense standpoint, through March, our operating

[25:22] expenses are actually about $8.7 million compared to where we were last year.

[25:29] But this was absolutely planned.

[25:32] If you recall when I presented the physical year 26 budget back in August, I mentioned

[25:38] that we were going to be investing in our people, in our facilities, and in our operational

[25:44] capabilities.

[25:45] And that's exactly what has happened.

[25:46] So of that variance of 8.7 million, about 38% of that variance is related to investments

[25:54] we've made in our people.

[25:56] About 20% of that variance relates to investments we've made in our facility operations.

[26:03] And then another 20% of that variance relates to the operational capabilities that we have

[26:10] across the port that we've invested in.

[26:11] And then finally, the other 20% is an increase in depreciation because of the capital

[26:17] assets and the infrastructure investments that we've made.

[26:20] So although that variance is we're up 10%, that's deliberate, and it is definitely planned.

[26:27] From an operating income perspective, we're up about $8.1 million over where we were

[26:32] this time last year. So again, being very efficient with the revenues and managing the expenses

[26:39] that we have. Operating margin, which is something we pay very close attention to, as you can see,

[26:46] has actually improved 40.1% this time last year, and now we're at 41.1%. So what that means

[26:54] for every dollar of revenue that we bring in after expenses, we have 41 cents to invest in infrastructure

[27:04] here at the port and to help us continue paying off our long-term debt in bonds.

[27:12] This past chart shows our operating revenues and just the breakout and as you can see,

[27:18] the top three lines represent our crews.

[27:22] In crews is a big part, obviously, of our operating revenue.

[27:25] In fact, it's 86% of our operating revenue through Mars, through the six months.

[27:30] Cargo, very important, very significant for us here as well.

[27:34] Well, that's nearly 10% of our revenue, and then the other 5% of our revenue is broken

[27:39] out in other leases that we have outside of cargo leases, our recreation jetty part,

[27:45] and also ground transportation.

[27:49] The next couple of slides are cruise statistics.

[27:52] So as you can see, we moved about 4.9 million passengers through the port for the six months.

[27:58] That was up about 54,000 cruise passenger movements over this time, as compared to budget,

[28:06] I should say, as we compared the movements to where we were this time last year, we're

[28:11] up about 10 percent, so very impressive revenue cruise passenger movements.

[28:18] Our cruise calls, 603 for the six months, up 11 percent over where we were through the

[28:23] first six months of fiscal year 25.

[28:27] Take a look at our cruise calls by our cruise line partners.

[28:31] You can see that Royal Caribbean and Carnival are nearly about 25% each, so in total about

[28:37] half a little over half of our cruise calls, Disney is a significant as well.

[28:42] So the three of those represent about three-quarters of our cruise calls from our cruise partners

[28:47] followed by MSC and CL and then other which would represent celebrity and princess lines.

[28:55] Take a look at our cruise passengers.

[28:57] This is a chart that I show each month, the first line represents per month, how many

[29:04] cruise passenger movements we had in fiscal year 25.

[29:08] So you can see the chart there, and then the next line is our budget for fiscal year 26.

[29:15] And as you can see, we, for the first several months of the year, we budget for greater than

[29:21] and what we had as far as movements compared to last year.

[29:25] March and April, as I've mentioned here before,

[29:28] we actually have two ships that have been on dry dock

[29:32] for refurbishment.

[29:34] The Carnival Glory and the MSc C-Short.

[29:39] So that is why we have budgeted lower cruise passenger movements

[29:45] in March and also we'll see that in April.

[29:48] Both of those ships are back here at the port, so it was just for March and April.

[29:53] Then this next line is the actual cruise passenger movements that we've had, and you can see

[30:00] So, I think that it is right on the budget line where actually about 50,000 revenue cruise passengers above where our budget would have us be at this time. So, thanks to Pat Poston, she works hard with our cruise business development team and projecting the passengers that we have based on the cruise schedules, et cetera. And we've got several years of data. And obviously with the cruise schedules, we budgeted that very, very tightly.

[30:29] We are on track to do probably 9.1 million passenger movements.

[30:36] Our budget is for 9 million.

[30:38] Of course, we did 8.6 million in fiscal year 25, which made us the busiest port in

[30:43] the world, cruise port.

[30:46] The next couple of slides discuss cargo statistics.

[30:50] You can see that through six months, we've moved about 3 million tons of cargo.

[30:55] This is exactly where we were this time last year.

[30:57] We've had 141 cargo calls, 102 space calls for the six months, and 136 other cargo calls.

[31:07] From a revenue perspective for the six months, we're at 11.8 million.

[31:12] That's broken down between cargo fees, docket, warfage, etc.

[31:17] And also the land leases that we have with our cargo partner.

[31:21] So we're about 11.8 million, about four, 500,000 below budget.

[31:26] I'll get into the more detailed numbers later in the slides.

[31:30] But cargo is doing very well for us.

[31:32] We're slightly below budget.

[31:34] But we are hopeful that we can make that up in the next six months.

[31:39] We've moved three million tons, which I've mentioned before.

[31:41] The majority over half is fuel followed by forest products.

[31:48] Other operating revenues.

[31:49] I've mentioned this before.

[31:50] This is all our other obviously revenue besides cruise and cargo, so we've got $6.2 million in other revenues.

[32:01] We're slightly above budget and slightly ahead of where we were this time last year.

[32:08] So the first item leases, the lane leases outside of those cargo leases are $2.4 million for the six months.

[32:14] and you can see the green bar represents our actual compared to our budget, the blue bar,

[32:20] we are right on budget, actually a little bit ahead of budget, recreation, jetty par, campground,

[32:26] et cetera, 2.2 million. That is right on budget as well, slightly ahead. And then miscellaneous ground

[32:34] transportation is the majority of this, and we are right on budget with miscellaneous revenue for

[32:39] six months. Real quick month of March we came in very close to our operating revenue budget

[32:48] for the month. We were actually down about 100,000 of course were favorable 4.3 million for the

[32:54] year so right on budget basically operating expenses slightly below budget but very close to budget

[33:01] the result is we had operating income for the month of March of 10 and a half million which was

[33:07] slightly above budget, so very close to budget for the month of March.

[33:12] Crew statistics and cargo statistics for March in line with what we obviously expected,

[33:20] less calls because of those two ships being refurbished that I mentioned before, as well

[33:26] as less passengers than this time last year for the month of March.

[33:30] Cargo, we had 74 cargo calls and moved 436,000 tons.

[33:34] So, looking at the detail for operating revenues, just for the month of March, you can see

[33:39] our total operating revenues came in 23.2 million, which was very close .6 of 1% within budget.

[33:49] The driver of the unfavorable variance is a little bit of a softening in the cargo revenue

[33:54] line offset by the cruise activity that was strong for the month.

[33:59] Taking a look at the monthly operating expenses, you can see that we came in at $12.7 million, which was about $300,000 favorable to budget.

[34:10] Again, we're favorable for the full year, but that is timing related, I think will be very close to our full year budget on operating expenses.

[34:19] For the six months, as I've mentioned before, our total revenues came in at $128.5 million, which is $4.3 million ahead of budget.

[34:28] Driven, as you can see from the top three lawns, crews, activity, partially offset by cargo.

[34:36] So very, very solid, very impressive operating revenue numbers, operating expenses, below budget,

[34:42] as I've mentioned before, by $4.3 million. We are managing to the full year number and I do believe

[34:50] that most of that, if not all of it, is timing related that we'll see normalize in the second half

[34:55] of our fiscal year.

[34:58] After we consider none.

[35:00] Operating revenues and non-operating expenses. And considering our operating income, our addition

[35:06] to net positions. So this is our bottom line that we used to invest back into the port,

[35:10] into the infrastructure of the port, and also to pay our debt payments, 51.9 million in

[35:18] just six months. And then finally, I haven't shown this slide in a couple of months, but

[35:24] But now that we're at a quarter end, I wanted to bring this back and highlight the improvement

[35:30] of the margins that I've mentioned before.

[35:32] So on the far left is where we were for a full year, fiscal year, 19, the last full year

[35:38] before COVID.

[35:39] And you can see our operating revenues were just slightly ahead of 50 million for the six

[35:44] months.

[35:45] After operating expenses, we made $9 million of operating incomes, so a margin of 17%.

[35:51] So in other words, for every dollar we brought in, we would make 17 cents of profit after our expenses.

[35:58] In fiscal year 24, you can see after a full year in us giving our stride back after the pandemic,

[36:05] nearly at 100 million and had operating income of 39 million, which was very impressive in and of

[36:12] itself, margin of 40.2%. We improved those numbers, had a record breaking year last year,

[36:18] revenues for the six months in fiscal year 25 were almost 112 million very solid strong margins of 40% and we made 44.8 million but look at where we are in fiscal year 26.

[36:34] Just for the six months we're already nearly at 130 million and we've made nearly 53 million dollars of operating income and our margins have actually improved over the last couple of years.

[36:46] and significantly improved, more than double, as we looked back several years ago to fiscal

[36:53] year 19.

[36:55] So we're having a solid year.

[36:57] We will continue to manage to our budget, to our numbers, and continue to make wise

[37:02] strategic decisions here from a financial perspective.

[37:07] So any questions before I want to recognize a staff member of ours?

[37:13] Any questions on them?

[37:14] Jeff, a glorying and financial report, I mean, how can it get any better?

[37:22] Well, we're trying.

[37:23] We're going to get it better.

[37:26] Captain Murray and the team have done a great job year after year after year, where we

[37:31] are.

[37:32] Yeah, and I've mentioned this before.

[37:33] This is years in the plane.

[37:34] These are contracts with our cruise partners, our cargo partners, leases that are real estate

[37:40] 18 Craig and Mark Millisons do from years ago, and we're seeing these numbers play out

[37:47] exactly like we strategically designed them over the years.

[37:55] The last few months, a couple of the commissioners have mentioned how great the aging has

[38:01] been.

[38:01] So it's our accounts receivable, aging, it shows what accounts are in the current category,

[38:07] what accounts are, 30 days past due, 60 days past due, 90 days past due, and we work

[38:12] We're very hard trying to improve those numbers because the better we collect our receivables,

[38:16] the more cash we have to invest, et cetera.

[38:19] So I would like to highlight the fact that we've done very, very well with this aging

[38:26] report over the last several months.

[38:27] In fact, it's been 100% in current, which is pretty amazing.

[38:32] This past month, we actually had a dip of only 99.8% in current.

[38:40] So we've put Nerissa long on a performance improvement plan so get it back to 100% but Nerissa do you want to sting it up?

[38:48] Let's give her a hand. She works very hard on this.

[38:54] Thank you, Nerissa.

[38:56] She's working with Sheriff Fabio on that same

[39:01] I'm not going to say

[39:06] Any questions about the finances?

[39:10] Chair would entertain a motion to accept the financial report that's been given by Jeff.

[39:18] So moved, Mr. Chairwoman.

[39:20] Second.

[39:21] Moved in seconded discussion on favor say aye.

[39:25] Aye.

[39:26] Motion passed.

[39:29] Next, Chair would entertain a motion to approve or accept the statistical reports, the aging.

[39:36] I mean, I'm going to leave that up to you, Mr. Secretary.

[39:40] You want to try to do those?

[39:43] Well, yeah, actually, our treasurer is not here today, but I'll make the motion.

[39:47] You have to approve the Statistical Report, Agent Report, List of Bills, as well as the list of the Sposals,

[39:53] Legal Bills and Commissioner Minor Expenses for March of 2026.

[40:02] Okay.

[40:08] Thank you.

[40:12] Pressure. I feel it. I know exactly. So, I'll be very brief. I want to highlight a couple of projects. Good morning, Mr. Chairman and commissioners. I'm going to start with highlighting item one. See, this is crucial 10 expansion. So, obviously, we have a lot going on as far as infrastructure and building.

[40:35] This is the initial step, the initial phase for CT10 expansion with PCL.

[40:41] And it is an initial purchase order of $6.3 million added to the $60,000 pre-construction contract that we have already underway with them.

[40:52] And I provide a brief breakdown here of the items that we are going to be including in this $6.3 million.

[40:58] And a lot of them are up front early enabling projects, general requirements, temporary facilities

[41:04] that need to be set up, general conditions cost which covers the contractor staff.

[41:09] The largest item is replacement of a very deteriorated water side trench drain and certain

[41:16] utilities, electrical allowance for shaping of circuits as we demo certain parts of the

[41:21] building.

[41:21] We need to reconnect areas.

[41:24] That's what this represents, bonds insurance, a contingency, and then the contractor's fee at 4.75%.

[41:31] Now, as we kick off one small piece, I want to show you what the overall picture is shaping up to be.

[41:38] And so we have this color coded cost graphic that really shows where the overall budget is going to be spent.

[41:44] And we have a couple of options that total in a $72 or a $79 million budget.

[41:50] This $7 million Western expansion is one of the items that we're still considering if that is truly needed.

[41:57] We were able to accommodate all of the luggage lay down needs identified by the program in the Eastern expansion,

[42:04] so it brings into question what we need to do in this area.

[42:07] I also want to highlight that facilities, Steve Shelton and his group, they are replacing the CT-8 and CT-10 Chiller,

[42:17] So it's going to be a combined chiller that services both campuses and currently I think the estimate is about 15 million

[42:24] But I believe I believe you guys have a meeting today at like 11 with trains

[42:28] So more to come on that combined chiller, but that is included in the overall budget

[42:32] And the only other caveat I would say here is just from the customs and border protection CBP

[42:38] We did include minimal

[42:40] improvements in the existing CBP area

[42:43] But we are just starting to have those conversations with CBP, so there could be federal requirements

[42:49] that come out of those discussions that go beyond the budget numbers and the programs

[42:54] that I have represented here today.

[42:57] Doors open for the expansion.

[42:59] There's still October of 2027 to welcome the World Atlantic, I believe, the World Atlantic,

[43:06] from MSC.

[43:09] We're entering on the outside, very attractive terminal, very modern facade, and then on the

[43:15] inside as well.

[43:20] The other project I want to highlight is related to the future planned expansion of crucial

[43:25] number two.

[43:26] We have two sub-Aquist crossings, one is a calm duct line for the Air Force.

[43:31] The other is Chesapeake utilities, Florida City gas owned eight-inch gas main that goes under

[43:37] the harbor as well.

[43:38] So we've reached an agreement with Florida City Gas.

[43:41] This is a not to exceed $2.8 million allowance to redesign and relocate IEDPA, that eight-inch

[43:48] gas main from the south side of the port to the north side of the port.

[43:51] So this will continue to enable that future post 2030 development and expansion of CT2.

[43:59] The current depth is about 70 feet.

[44:02] As you see, represented by this orange line here, and we're going to be deepening both the

[44:07] The conduct and the gas line took about 150 feet, and that requires us to revert back

[44:13] to the south and the north for the board pit, entry and exit pit as well, so be much

[44:18] deeper.

[44:21] Those are the projects that I wanted to highlight.

[44:23] Bob Muster sent me a text just to give a shout out to Mike Ziler, our Assistant General

[44:28] Council.

[44:29] He was the team anchor for the corporate 5K placing 39 out of 1,600 people.

[44:37] 39.

[44:37] So the

[44:42] overall corporate team placed 20th out of 70 corporate teams and we placed 10th out

[44:48] of 25 teams of a similar size, I think 100 to 1000 is roughly that gauge.

[44:55] So congrats to the team, Captain Bipalmusser and co-captain by Leslie.

[45:00] I believe as well, and so congrats to my ex-owner and everybody. Thank you very much. Good coach. Any questions for Bill before he sets down?

[45:12] Okay, thank you.

[45:18] There's no public comment filed for the consent agenda, so next we'll consider the consent agenda starting with Commissioner Craig, do you have any consent items that you wish to pull?

[45:33] I do not.

[45:36] one D, one D, Mr. Lloyd.

[45:41] I have no industry.

[45:42] Okay.

[45:44] In the chair, we'll entertain a motion to approve consent items 1A, 1B, 1C, 1E, 1F, 1G, 2A, 3A,

[46:06] 3A and 3B, 4A, 4B, 4C, 4D, and 4E.

[46:13] So moved.

[46:14] Second?

[46:15] Move to the second discussion.

[46:17] On the favor say aye.

[46:18] Aye.

[46:19] Okay, approved.

[46:21] Okay, item 1D.

[46:26] Yeah, Mr. Chairman, there's no reason for

[46:29] build to go over this, but to me somebody will have to make the motion for

[46:34] this is just a little bit too rich for me personally. So I'll be a navy vote. So that's

[46:39] all I have to say on this. I

[46:44] think I can make a motion. I'll make a motion to approve

[46:46] a consent item 1D. Second, move to the second discussion. All in favor say aye.

[46:55] I approve.

[47:01] Moving right along to public comment.

[47:06] First person for public comment, is Janice Scott.

[47:20] After that report, I think Captain Murray needs to address the county and the municipalities

[47:27] in a workshop about how to run this budget.

[47:30] That's great.

[47:32] So, thank you very much for giving me the opportunity to speak.

[47:37] Often, you know, when you hear a despicable comment, you cannot dignify it with any response.

[47:45] And sometimes to be silent is the deemed as approval.

[47:51] So I want, you know, and I know many of us here are former employees, employees of Disney

[47:58] and shareholders. So Disney's met an icon in Florida, in Brevard, and part of our community

[48:07] for over 55 years, and has sailed from the port with the Disney Cruise Line since 1998.

[48:15] Many of us were taxed to build this port, and we really love it. It's beautiful. No complaints

[48:24] about that at all. But you should know that Disney also owns ABC media. And last year Kimmel was

[48:35] suspended for his skirless remarks concerning Charlie Kirk's murder. Why is he still on the air

[48:44] and bring the debt a president of the United States wife as I quote Mrs. Trump

[48:54] you have a globe like an expectant widow how awful is that that is passes the

[49:02] pale of human decency it's morbid it's not humor many please do not be silent

[49:12] Call CEO Josh Demaro and tell him that political violence cannot be disguised as comedy.

[49:20] His number is 818-560-1000, thank you.

[49:29] Next is Theresa Mayows,

[49:34] but

[49:39] you signed a card, you said you have to say something.

[49:41] I guess I have to say something.

[49:42] Okay.

[49:42] I want to thank you all for voting no on the LNG.

[49:47] I know it's been a month, but it feels like months since I've seen you last, I'm sorry,

[49:53] but it was really nice and peaceful afterwards and I just thank you for voting no and I know

[49:58] so there will be pressure.

[50:00] To come from others to take that land again or to lease it, but we really are still going to be like keeping our eyes open and hoping that you'll resist that pressure to do that and just keep it safe. It's your last, like you said, wonderful, big asset that you have and we want it safe. The other thing is because of all this that's happened. My neighbors voted me unanimously, the president of our homeowner association, even though I said no, like seven times, they just wrote my name there.

[50:29] So so now that's happened. So I just wanted you to stand strong and I know you said you want to see us here

[50:36] So that's why I'm here. I don't know if you really meant it, but here I am and I'm learning a lot

[50:40] I just learned what a call was so you said you had 603 of them. I had to Google it

[50:46] But now I'm learning things. So thank you. Love you guys. You wait up forward to seeing you in the future. Okay, madam chair

[50:53] Thank you.

[50:55] That concludes the consent

[50:59] I had a public discussion, commissioner reports, commissioner Lloyd.

[51:06] Many of you have heard that I have joined the race for county commission, so stay tuned.

[51:13] I'm sure I'll be asking for campaign donations from the nation, but that's all.

[51:21] Wait, were you part of the 5K race with the DIA team, Bill?

[51:25] No, I'm not going to be there, I'm going to be there.

[51:30] Real quick, Mr. Chairman, the April 3rd, I had the pleasure of joining the junior ambassadors for a tour of the wish.

[51:38] It was a great group, and I'm glad that we are continuing the program.

[51:42] Thank you.

[51:43] Okay.

[51:44] Mr. Craig.

[51:45] Nothing at this time.

[51:49] Each year we've

[51:53] attended the AAPA annual meeting, this year the annual meeting for the American

[52:03] Association of Port Authority is going to be meeting in New Orleans.

[52:08] In each year we've approved the commissioners of legal counsel, I hope, by starting to attend.

[52:15] So, I would entertain a motion to authorize Harold Beisline to be, I have the authority to attend the AAPA annual meeting representing us at the October meeting.

[52:33] So, move, Mr. Chair.

[52:36] Second.

[52:37] Discussion.

[52:37] All in favor say aye.

[52:40] All right.

[52:41] Okay.

[52:44] The meeting is going to be adjourned.

[52:46] Our next meeting is Wednesday June 3rd.

[52:49] Meeting adjourned.

Commission Meeting, April 29, 2026 - Apr 29th, 2026

Transcript