BOARD OF DIRECTORS MEETING September 23, 2021 …

NORTH CAROLINA STATE PORTS AUTHORITY BOARD OF DIRECTORS MEETING WILMINGTON, NORTH CAROLINA
September 23, 2021
1. Call to Order
a. Pledge of Allegiance b. Ethics Reminder c. Safety Brief ing d. Roll Call e. Introduction of Guests f . Approval of August Meeting Minutes g. Secretary Comments
2. Executive Director Update 3. Safety Update: Mr. John Dittmar (10 minutes) 4. Commercial Update: Mr. Hans Bean (15 minutes) 5. Operations Update: Mr. Doug Vogt (15 minutes) 6. IT Update Mr. Doug Vogt (15 minutes) 7. Financial Results: Mr. Alherd Kazura (15 minutes) 8. Closed Session, pursuant to NC General Statute 143-318.11(a)(3) 9. Comments by the Chairman
NORTH CAROLINA STATE PORTS AUTHORITY 2202 Burnett Boulevard P.O. Box 9002 Wilmington, NC 28402 www.ncports.com
ETHICS AWARENESS AND CONFLICT OF INTEREST REMINDER
(To be read by the Chairman or his designee at the beginning of each meeting)
In accordance with the State Ethics Act, N.C.G.S. §138A-1, et seq., as applicable, and N.C.G.S. §136-14, it is the duty of every Board member to avoid both conflicts of interest and appearances of conflict. Does any Board member have any known conflict of interest or appearance of conflict with respect to any matters coming before the Board today? If so, please identify the conflict or appearance of conflict and refrain from any undue participation in the particular matter involved.
North Carolina State Ports Authority Board of Directors Meeting Wilmington, North Carolina August 26, 2021 Page 1
NORTH CAROLINA STATE PORTS AUTHORITY MINUTES OF THE BOARD OF DIRECTORS MEETING
Wilmington, NC Thursday, August 26, 2021
The meeting of the North Carolina State Ports Authority Board of Directors was held at the Port of Wilmington, Wilmington, NC on Thursday, August 26, 2021. Chairman Robert A. Wicker presided. Chairman Wicker called the meeting to order at 9:00 a.m. Attendance: Roll Call: Mr. Robert A. Wicker, Chairman, Mr. Robbie Hill, Vice Chairman, via video conference, Mr. Jerry Cook, Mr. Adair Graham, Mr. Patrick Joyce, via video conference, Mr. Patrick Molamphy, via video conference, Ms. Maureen Clark, via video conference, Mr. Tom Adams, via video conference, Mr. Rajan Shamdasani, Secretary Eric Boyette, via video conference. Management and Staff: Mr. Brian Clark, Ms. Laura Blair, Mr. Alherd Kazura, Mr. Hans Bean, Mr. John Dittmar, Mr. Doug Vogt, via video conference, Mr. Daniel Johnson, General Counsel, via video conference, Ms. Kacy Hunt with NCDOT, Ms. Ann Dishong with NCDOT, via video conference, Ms. Stephanie Ayers, and Mr. Bob Blackburn. Pledge of Allegiance: Chairman Wicker led all in the Pledge of Allegiance. Ethics Reminder: Ms. Blair read the Ethics and Conflict of Interest Statement reminding Board Members to abstain from participating in matters in which they have, or appear to have, a conflict of interest. She continued, reminding members that in accordance with NC General Assembly Session Law 2020-3, the meeting was being conducted by simultaneous communication and as such, members were advised that all chats, instant messages, texts, or other written communications between the members of the public body regarding the transaction of the public business during the meeting are deemed a public record. Ethics Training: The Chairman called on Mr. Daniel Johnson, General Counsel to provide Ethics Training. Mr. Johnson presented Ethics Training to Board members to comply with statutory requirements. The training covered how each fulfills their role and responsibility as a member of the Board, how to complete all ethic requirements governed by law and policy and execute the statutory authority applicable to their respective Board duty.
Mr. Shamdasani stated he has previously shared his company supplies NC Ports Authority Police departments uniforms. Mr. Johnson thanked the Chairman and the Chairman thanked him for his update. Safety Briefing: Mr. Dittmar provided a modified safety briefing to the group to include official CDC guidance regarding COVID-19.
Chairman Wicker stated that Mr. Coley has resigned from the NC State Ports Authority Board of Directors. Mr. Coley was serving a one-year term for Mr. Keady which he has fulfilled. Chairman Wicker stated today is Mr. Adams last Board meeting. Chairman Wicker stated he would like recognize Mr. Adams in person and thank him for his service to NC Ports as soon as time permits.
Introduction of Guests:
Ms. Blair introduced guests in attendance, Ms. Rachel McIntyre from the Wilmington Metropolitan Planning Organization, Ms. Christina Haley O’Neal from Greater Wilmington Business Journal, Ms. Cheryl Hannah, Ms. Ramona McGhee with Southern Environmental Law Center, Mr. Dan Gurley with NC Speaker of the House office, Ms. Hannah Nelson, and Mr. Greg Moninger with Anchor QEA of NC. Minutes: Chairman Wicker presented for consideration the June 24, 2021 meeting minutes. Mr. Shamdasani made a motion to approve as presented. Mr. Cook seconded the motion. Secretary Update: Secretary Boyette reported NCDOT is continuing to see strong financial results. There are less expenditures going out for contracting industries and his team is working with contractors to assist with labor issues. Secretary Boyette applauded the team of NC Ports Authority. Secretary Boyette stated he is proud and happy to support to NC Ports Authority. Secretary Boyette stated the Transportation Summit will be held January 19 and 20 and will address transportation and infrastructure. Secretary Boyette thanked the Chairman and the Chairman thanked him for his remarks. Chairman Wicker called on Mr. Gurley to provide an update. Mr. Gurley stated the budget process is ongoing. Mr. Gurley also stated the budget includes the reoccurring capital improvements appropriation of $45 million as well as $5 million for environmental studies associated with the potential development and site readiness of Radio Island at the Port of Morehead City. Mr. Gurley thanked the Chairman and the Chairman thanked him for his remarks.
Executive Director Update: The Chairman called on Mr. Clark for an update. Mr. Clark thanked Secretary Boyette for his ongoing support. Mr. Clark reported NC Ports is about 25 percent under budget for containers but ahead of overall budget for the first month. Mr. Kazura will report further detail. Mr. Clark reported the team is committed to finding new volume and services. There have been a series of positive customer meetings. Mr. Clark reported CSX’s Carolina Connecter, also known as CCX will open October 7. NC Ports has been given schedules and rates to move cargo from the Port of Wilmington to CCX and then to inland points. The rates are very favorable. CSX has invited three east coast ports to also submit volume commitments. Mr. Clark reported NC Ports has been engaged in the State’s efforts to attract an offshore wind related project to the State. NC Ports is part of the Governor’s Offshore Wind Task Force. NC Ports team members were in Virginia this week for the International Partnering Forum Conference, the largest offshore energy conference in North America. Mr. Clark reported NC Ports hosted Representative David Rouzer last Friday. Rep. Rouzer reaffirmed his support of the Wilmington Harbor Navigation Improvement Project. Mr. Clark thanked the Chairman and the Chairman thanked him for his remarks. Safety Update: The Chairman called on Mr. Dittmar to provide a safety update. Mr. Dittmar reported the number of accidents, near misses and injuries at all facilities as of July 31, 2021. The lost time injury rate is .9 for Fiscal Year 21 which meets goal. Mr. Dittmar reported the Ports Safety Index for Fiscal Year 2021 was 1.23 which was below goal of 1.5. Mr. Dittmar reported Shane Davis, the Ports’ Environmental Health and Safety Officer, attended the NC Department of Labor Safety Awards in Wilmington. The Port of Wilmington received the Gold Award and the Charlotte Inland Port received its 18th consecutive Gold Award. The Gold Award is based on the days away, restricted, transferred (DART) rate, which includes cases of days away from work, restricted activity or job transfer. Mr. Dittmar thanked the Chairman and the Chairman thanked him for his remarks. Commercial Update: The Chairman recognized Mr. Bean to update the Board on recent commercial activities. Mr. Bean reported there was a strong finish to Fiscal Year 2021 while July had mixed volume performance across ports and segments.
Mr. Bean reported General Cargo performance is positive year-to-date performance with 11 percent positive-to-plan. Mr. Bean reported container segment is below plan with a strong demand versus congestion and transpacific schedule challenge impacts. The first quarter of Fiscal Year 2022 projected volume finish remains near plan for both segments. Mr. Bean reported on market volatility and the path forward. Mr. Bean provided examples of disruption and demand, congestion, delay and risks, rates and capacity outlook and development focus and opportunities. Mr. Bean reported on future developments and key initiatives. Mr. Bean thanked the Chairman and the Chairman thanked him for his remarks. Operations and IT Update: The Chairman then recognized Mr. Vogt for an Operations and IT update. Mr. Vogt reported on the Operational Key Performance Indicators. Mr. Vogt reported NC Ports met or exceeded seven out of eight targets for Fiscal Year 2021. Mr. Vogt reported July Key Performance Indicators for July and provided new Fiscal Year 2022 targets. Mr. Vogt reported an update on the Terminal Operating System, Gate Operating System and the Customer Access Portal. The new system went live on August 1 with no major issues or disruptions to the customers. Phase 2 will be the transition of the system to the new Southgate Container Complex. Mr. Vogt reported all operating ports are now on the same system of Navis N4. The container segment and general cargo can now link to the CFS (container freight system). The goal with the new system is to touch the new container as few times as possible and make sure cargo is not being rehandled as well as gain efficiently and use resources in real time. Mr. Vogt reported a Capital Projects update. Mr. Vogt reported the T-4 Chiller Facility was completed mid-July. Full scale mixing operations will occur within the next few weeks. Mr. Vogt reported Area F East upgrades and paving is occurring with an expected completion date by the end of January 2022. This space is approximately 6.5 acres. Area F West, which is about the same size, will be upgraded in Fiscal Year 2023. These upgrades will allow NC Ports to double capacity in these areas. Mr. Vogt reported Reefer Yard Phase 2 is currently in design with expected construction in the second half of Fiscal Year 2022. This project will mirror Phase 1 except for stacking containers four high versus current three high. This project should be complete by the end of calendar year 2022. Mr. Vogt reported an arial photo of the South Gate Container Office which is complete and ready to move into within the next few weeks. Work is being completed at the new gate and will be ready for testing in September. The goal is to transition to the new gate by the end of October. Mr. Vogt thanked the Chairman and the Chairman thanked Mr. Vogt for his remarks.
Financial Update: The Chairman then recognized Mr. Kazura for a Financial update. Mr. Kazura reported a Fiscal Year 2021 summary. NC Ports achieved $3 million ordinary net income which was $2.5 million over budget. Mr. Kazura stated the annual audit by the North Carolina Office of the State Auditor is underway. Mr. Kazura reported the balance sheet is in a strong position. Mr. Kazura reported the Fiscal Year 2022 growth budget is challenging. The operating targets are $64.4 million in revenue, $3.2M in ordinary net income and $21.2 million in EBIDA. The Covid-19 economic uncertainly is a continued factor. Mr. Kazura reported July is off to a good start. The cash on hand and State Capital Appropriation will cover the net near term capital and debt payments. Mr. Kazura thanked the Chairman and the Chairman thanked him for his remarks. Mr. Cook made a motion at 11:20 am that the Board enter closed session pursuant to NC General Statute 143-318.11(a)(4) and 143-318.11(a)(6) to discuss location and expansion as well as a personnel matter. Mr. Shamdasani seconded the motion, and all voted in favor. The board returned to public session at 12:45 pm and the Chairman advised during closed session, no votes were taken. Action Item #1 Mr. Cook made a motion to approve the land lease to Cold Summit Wilmington 1 Joint Venture, LLC for the purpose of building and operating one or more cold storage warehouses. Mr. Shamdasani seconded the Motion. All voted in favor. Mr. Wicker stated the Board of Directors will meet in Wilmington for the September meeting. Mr. Shamdasani made a motion to adjourn and Mr. Cook seconded the motion. All voted in favor. The meeting adjourned. Approved this ____ day of _____________, 2021 ______________________________ ________________________ Robert A. Wicker Laura G. Blair Chairman, Board of Directors Secretary
Board of Directors Meeting September 23, 2021
Safety Update
Safety Incident Reporting Port of Morehead City
Near Misses Incidents Injuries July 1 5 1 (port employee) August 0 5 1 (port employee)
3 September 2021 Board of Directors Meeting
Safety Incident Reporting Port of Wilmington
Near Misses Incidents Injuries July 4 14 2 (1 port, 1 non-port) August 1 24 1 (non-port)
Lost Time Injury (LTI) Rate Lost Time Injury rate follows a formula to indicate safety performance. Divide the total number of lost time injuries in a certain time period by the total number of hours worked in that period, then multiply by 200,000 to get the LTI Rate.
200,000 is the generally accepted baseline of LTI established by OSHA; it represents 100 employees working 50 weeks or approximately one year.
Lost Time Injury Rate is compared to Bureau of Labor and Statistics for general safety trends in similar industries.
OSHA and Bureau of Labor and Statistics provide a national standard of safety trends and performance that is commonly referenced and accepted.
NC Ports falls under State of North Carolina OSHA (Department of Labor) most other tenants at our terminals fall under Federal Occupational Health and Safety Administration (Federal OSHA).
Bureau of Labor and Statistics 2019 Incident rates of nonfatal occupational injuries and illness by industry and case types
TABLE 1. Incidence rates(1)of nonfatal occupational injuries and i llnesses by industry and case types, 2019
Industry(2) NAICS code(3) Tota l recordable cases
Cases with days away from work, job restriction, or transfer
Other recordable casesTota l Cases with days away
from work(4) Cases with days of job transfer or restriction
All industries including private, state and local government(5)
3.0 1.6 0.9 0.7 1.4
Transportation and warehousing(10) 48-49 4.4 3.2 2.0 1.2 1.2
Support activities for rail transportation 4882 2.1 1.7 1.2 0.5 0.4
Support activities for water transportation 4883 4.6 3.1 2.6 0.4 1.5
Marine cargo handling 48832 5.2 3.5 3.1 0.4 1.6
NC Ports Lost Time Injury Rate FY22 Number of lost time injuries = 0 Employee hours worked in FY22 = 71,030 Temp employee hours worked in FY22 = 2,658 Total employee hours worked in FY22 = 73,688
FY 2022 LTI = 0 FY 2022 goal = not to exceed .9 FY 2021 LTI = .9 FY 2020 LTI = .9 FY 2019 LTI = 1.4 (number of lost time injuries) x 200,000
---------------------------------------------------- = Lost Time Injury rate (total hours worked)
Port Employee Safety Index
Port of Wilmington July August
-Very Minor 6 13
Port of Morehead City July August
-Very Minor 2 4
Incident Average Month 1.29 July 1.24 August
Port Safety Index Average = 1.26 FY 2022 Safety Goal is Port Employee Safety Index not to exceed 1.3 FY 2021 Employee Safety Index = 1.23 FY 2020 Employee Safety Index = 1.6 FY 2019 Employee Safety Index = 1.8
Crane 16 Severe Weather Incident
• Incident occurred August 20th at approximately 10:34 pm.
• Crane was not operating; boom was positioned up.
• Rapid change in weather.
• Heavy rain/wind: sustained winds exceeded 45 mph, gusts of 69 mph.
• Crane traveled down crane rails at 7 mph.
• Safety mechanisms and safety stops worked as designed.
Crane 16 Severe Weather Incident
Crane 16 Corrective Actions
• Conducted comprehensive post-incident review process.
• Identified three corrective actions using employee input.
• Crane inspected and tested by crane engineering specialists.
• Crane repaired and returned to full operational capability.
Commercial Update
September 2021 Board of Directors Meeting
Commercial Update – September OVERVIEW - All Segments • AUG mixed volume performance • General Cargo positive YTD performance at +18% to plan • Containers below plan - strong demand vs. congestion & transpacific schedule challenge impacts • 1qFY22 and 1hFY22 projected above plan for general cargo and slightly below plan for containers
General Cargo • Solid start with performance across both spot shipments and regular programs • August performance 20% over budget; primary drivers Chemicals and Wood Pellets (3x vessel calls) • SEP outlook positive to plan for both POW and MHC – playing to strengths • 1qFY22 GC projected +23% to plan
Containers • August’s performance was 11% under budget exclusively due to the transpacific services
– 1 unrealized Transpacific sailing (blank or void) and significant schedule bunching • September projected to be +2% of plan; progress 2qFY22 with 1hFY22 finishing 2-5% below plan • Expect continued significant TP scheduling difficulties to impact volumes
Future Development – Key Initiatives • New Customer Program Expansion – progress updates • Cold Chain Capability & Programs Expansion • Rail, Intermodal & Inland Ports Progress – CCX advancing • Economic Development Progress – Game plan & Progress Update
Sept 2021 Board of Directors Meeting 16
GC Performance & Outlook: • AUG YTD tracking 18% above budget (excl. Nutrien)
• POW: Strong start to fiscal year in Chemicals, Forest Products, Steel segments • MHC: Nucor inputs and Organic Grain strong start
• SEP/Q1 Outlook • POW: SEP 20% over monthly budget • MHC: SEP 30% over monthly budget (excl. Nutrien) • Q1 Combined 23% over budget
Highlights: • Warehouses/storage capacity tight
• Locations at high utilization levels (NC and E. Coast port range); opportunities and challenges • Breakbulk freight rates approaching record highs
Commercial Update - General Cargo YTD % YTD YTD % YTD
North Carolina State Ports Authority YTD Prior vs. vs vs. vs. FY21 Vessel Tonnage vs. FY21 Budget AUG YTD Budget YTD Budget Budget Prior YTD Prior YTD
POW BB and Bulk Total (S/T) 288,372 505,475 423,248 327,271 82,227 19% 178,204 54%
MHC BB and Bulk Total (S/T) 83,163 192,367 166,334 144,207 26,033 16% 48,160 33%
TOTAL 371,535 697,482 589,582 471,479 108,260 18% 226,364 48%
BHF and RADIO ISLAND Bulk (S/T) 0 34,827 25,000 38,292 9,827 39% (3,465) -9% GRAND TOTAL TONNAGE PORTWIDE 371,535 732,670 614,582 509,771 118,088 19% 222,899 44%
Commercial update - Containers North Carolina State Ports Authority YTD % % YTD YTD % YTD Container (Moves) vs. FY22 Budget August YTD Prior vs vs vs vs vs
August Budget YTD Budget YTD Budget August Budget Budget Prior YTD Prior YTD THE Alliance - EC2 3,810 5,100 7,246 11,350 9,678 (4,104) -25% -36% (2,432) -25% 2M/ZIM - ZCP 2,617 4,575 5,208 8,235 7,104 (3,027) -43% -37% (1,896) -27% ICL 4,445 3,450 8,621 7,875 7,008 746 29% 9% 1,613 23% Maersk/Sealand - SAE 911 1,000 2,025 2,325 1,679 (300) -9% -13% 346 21% Maersk/Sealand - NAE 388 200 677 400 0 277 94% 69% 677 - Crowley 1,830 1,575 3,079 2,825 1,271 254 16% 9% 1,808 142% Other 331 200 441 450 680 (9) 66% -2% (239) -35% TOTAL 14,332 16,100 27,297 33,460 27,420 (6,163) -11% -18% (123) 0%
Asia 6,427 9,675 12,454 19,585 16,782 (7,131) -34% -36% (4,328) -26% Europe 4,445 3,450 8,621 7,875 7,008 746 29% 9% 1,613 23% Central & South America 3,129 2,775 5,781 5,550 2,950 231 13% 4% 2,831 96% Other 331 200 441 450 680 (9) 66% -2% (239) -35%
August Performance & September Outlook • August was 11% below plan
• Transpacific: August volumes significantly below budget. 4 of 5 x 2M+Z vessels realized THEA and 2M+Z underperformed due to severe vessel bunching
• Europe: August volumes significantly above budget. Strong market to continue. • Central America: Volumes are above budget
• September forecast + 2% to plan • Transpacific: Volumes projected to be at plan even with scheduling difficulties • Europe: Volumes to be above budget • Central America: Volumes to be above budget
Sept 2021 Board of Directors Meeting
18
Economic Development Update NC Ports ED Game Plan & Progress • Regional Priorities - Awareness and Alignment
• Industry Vertical Focus • Capacity and Sites • NC Ports Support
• Marketing Awareness and Alignment • Updated Marketing Storyline and outreach plans • Regional team intros and alignments
• Business Development and Economic Development Path • Relationship building • Introductory sessions and education • NC Ports Vertical and Segment leads • Capacity and site availability (State and Port)
• Engagement and Alignment • Regional Industry Priorities • NC Ports Value proposition to the Region • Pipeline Management/Visibility • Marketing Cooperation & Function Sponsorships
Program & Project Updates • Priority introductions / engagement
• Dept. of Commerce, EDPNC, Duke Power, Regional and County Economic Development Leadership
• Cadence Development • Quarterly Regional Economic Development Board meetings • Monthly Local County Economic Development Board meetings
• Building Joint DNA • Memberships:
• 12 active joint projects : renewables (offshore wind), food processing, advanced textiles, manufacturing, refrigerated warehouse
Sept 2021 Board of Directors Meeting
Economic Development Update
• NCEDA
• Chambers
• Counties
• Associations
• …And More
Targeted Regional Growth &
Economic Development Partners
Legacy & Targeted Growth Areas
Supply Chain/Logistics E-Commerce
Targeted Growth
Cold Chain Food Processing & Manufacturing Grocery Sector Bio Life Science & Medical
Automotive / EV – Current NCP Study Aviation & Aerospace Energy – Renewables - OSW, Solar, Biomass
Industrial Industrial & Machinery Chemicals & Plastics
Priority Segments & Industry Verticals
Operations & IT Update
Truck Turn Times Container
Single Move 24.5 24.5 19.0 Double Move 35.7 35.6 31.0
General Cargo Wilmington
Steel 82.4 70.4 70.0 Lumber 56.6 53.6 70.0
Morehead City Dimensional Lumber 88.4 89.3 70.0 Rubber 30.6 40.5 50.0
September 2021 Board of Directors Meeting 25
Sheet1
Aug-21
FY22
Targets
Terminal Operating System Update
Phase 1 - Now in week 8 of utilizing the new systems. (TOS/GOS/CAP)
Continuing to focus on the following areas to fully utilize the system as designed. EDI transmission accuracy to our external customers and partners. Reporting/Data visibility needs both for internal and external use. Billing accuracy and transition of any manual billing into the system. Inventory accuracy by specific yard location. Planning activity in advance to push work instructions out to the team
through the system for Vessel, Rail and Yard activity rather than manually. Timely visibility of work completed with daily reconciliation of vessel, gate,
rail, yard and CFS activity. Culture change to capture all activity accurately and in real-time.
26
Terminal Operating System Update Phase 2 – Finalizing configuration and development in TOS/GOS/CAP
Phase 2 will be focused on the following areas: Transition of Container Operations employees to the new Container Office. Transition of all truck activity to the new Southgate complex. Launch Pre-advice functionality in the CAP to minimize Trouble transactions
and streamline truck turn-times. Capture more data granularity on Trucker turn-times and utilize to measure
improvement within each stage of the trucker process. Integrate Chassis Yard Gate into the new TOS/GOS system as the official
stop/start location for any chassis usage/billing. M&R vendor system integration for visibility of work completed on terminal.
(Reefer Monitoring, Plug/Unplug, Pre-tripping & Container and Chassis Repair)
27
New Southgate Container Complex Final Striping and
Paving underway
RPM Certification (next week)
week of Oct)
28
Ongoing Projects Area F East paving continues with scheduled completion in January.
Design work underway for Reefer Yard Phase 2 with construction to begin in 3rd Qtr. of this FY.
Scoular grain transfer facility in construction phase with operations scheduled to begin in October.
POW Chassis Yard Improvements underway to transition to a managed yard with chassis being interchanged, inspected and inventoried upon entry/exit.
MHC Berth 4/5 improvements in design. Construction scheduled to start in FY22 with completion in FY23.
Freight Handling Equipment Purchases in progress. 2 Reach Stackers 4 Terminal Tractors 8 Fork-lifts
29
(Volume in Thousands) Aug ‘21 Budget Aug ’20 Bud PY Container Moves 27.3 33.3 27.4 (6.0) (0.1) General Cargo Tons 697.8 589.6 471.5 108.3 226.4
(Financials in Millions)
Operating Revenue $10.1 $10.9 $9.6 ($0.8) $0.5 Operating Expense 8.8 9.8 8.7 1.0 (0.1) Operating Income $1.3 $1.1 $0.9 0.2 0.4 Non-Operating Items (0.1) (0.2) (0.4) 0.1 0.3 Ordinary Net Income $1.2 $0.9 $0.5 $0.3 $0.7
Variance
31
Sheet1
Variance
$17.9
$17.4
$16.2
$0.5
$1.7
(Financials in Millions) Aug ‘21 Budget Aug ’20 Bud PY Ordinary Net Income $1.2 $0.9 $0.5 $0.3 $0.7
Gain (Loss) on Disposal $0.0 $0.0 $0.0 $0.0 $0.0 Asset Impairments 0.0 0.0 0.0 0.0 0.0 Capital Appropriation 11.3 0.0 0.0 11.3 11.3 Extraordinary Rev (Loss) (0.1) (0.1) (0.1) 0.0 0.0 Other Expense (0.5) 0.0 0.2 (0.5) (0.7) Subtotal 10.7 (0.1) 0.1 10.8 10.6 Change in Net Position $11.9 $0.8 $0.6 $11.1 $11.3
Variance
32
Sheet1
Variance
T ho
us an
33
27.4
0
10
20
30
40
0
5
10
15
20
Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun YTDM ov
es (
0
50
100
150
0
25
50
75
100
125
Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun YTD
To ns
(t ho
us an
262.1
321.2
34
$1,104.4
$132.9
$- $1.0 $2.0 $3.0 $4.0 $5.0 $6.0
M ill
io ns
Operating Revenue
35
$2.35
$1.69
$1.0
$2.0
$3.0
$4.0
M illi
on s
Adj. EBIDA (FY21 excludes DEP net reimbursement) FY22 Budget FY21
Capital Spending Overview
Summary of Cash Flows Cash and Cash Equivalents at July 1, 2021 $82.2
Total Cash Provided From Operating Activities ($0.8)
Total Cash Provided From (Used For) Investing Activities (2.9)
Total Cash Provided From (Used For) Financial Activities 11.5
Net Increase (Decrease) in Cash and Cash Equivalents $7.7
Cash and Cash Equivalents at August 31, 2021 $89.9
Operating Cash $22.7
36
Expansion $4,655 $5,146 $492 $25,018 $26,381 $1,364
Core $1,335 $1,502 $167 $12,989 $13,047 $59
Total $5,990 $6,648 $659 $38,006 $39,429 $1,422
Year to Date Full Year
Sheet1
$82.2
($0.8)
(2.9)
11.5
$7.7
$89.9
Sheet1
37
Summary
• Positive start to FY22 provides cushion through continued Covid-19 economic uncertainty • Expense savings timing primary driver of positive YTD results • Transition to N4 billing continues
• FY21 Financial Audit underway • Could be finalized in October
• Cash on Hand and quarterly State Capital Appropriation will cover near term capital and debt payments
Board Book Cover 09 23 2021
09 23 2021 Agenda
08 26 2021 Approved Minutes
09 23 2021 Power Point Presentation
Board of Directors Meeting
Safety Incident ReportingPort of Wilmington
Lost Time Injury (LTI) Rate
Bureau of Labor and Statistics
NC Ports Lost Time Injury Rate FY22
North Carolina Ports Employee Incident Classification SystemPort of Wilmington
North Carolina Ports Employee Incident Classification SystemPort of Morehead City
Crane 16 Corrective Actions
Legacy & Targeted Growth Areas
Change in Net Position After Extraordinary Items
YTD Budget to Actual

Documents

BOARD OF DIRECTORS MEETING September 23, 2021 …