Portland Fish Pier Authority

PORTLAND FISH PIER AUTHORITY BOARD OF DIRECTORS April 16, 2026, 3:00 PM Remote Meeting Format on the Zoom Platform PFPA Board Members Class A Directors: Groundfish Harvester or Representative Mary Hudson, MCFA Tracy Pearce, Vice President Class B Directors: Groundfish Buyers Vacant Vacant Class C Directors: Representing the seafood industry of the State of Maine Rob Odlin, Representing the Lobster Industry, President Matthew Moretti, Representing the Aquaculture Industry Class D Director: Representing the Public at Large John Arnold, Secretary Class E Director: Representing the City Council Wesley Pelletier, District 2 Ex-Officio Members of the Board of Directors: Representing the Commissioner of the Maine DOT Chris Mayo Representing the Commissioner of Maine DMR Meredith Mendelson Representing the Portland City Manager Brendan O'Connell, Finance Director, Treasurer *******Meeting Link******* Please click the link below to join the webinar: https://portlandmaine-gov.zoom.us/j/89608141108?pwd=qD1JdeWOLjSQj17QNvP1UrSQ8HQYiK.1 Panelists will receive their own unique link via email on the day of the meeting. To submit written public comment on an agenda item, email edd@portlandmaine.gov. Submissions must be received by 12:00 pm the day before the Portland Fish Pier Authority meeting to guarantee their inclusion in the agenda packet. All submissions must include the commenter's name and legal address. To help ensure your comment is submitted for the correct item, please include the name of the agenda item (see below). 1. Approval of March 19, 2026 Meeting Minutes a. See attached Meeting Minutes from March 19, 2026 Action Item - Pubic Comment 2. Financial Update - Kaela Gonzalez, Program Coordinator a. See attached Financial Update for April 2026 3. Facilities Update - Phil DiPierro, Project Manager. a. See attached Facilities Report for April 2026 Page 1 4. Finance Subcommittee Update - Brendan O'Connell a. Review and vote to accept the Portland Fish Exchange FY2027 Proposed Budget Action Item - Pubic Comment Portland Fish Exchange Subcommittee Update - Chair of Subcommittee, Tracy 5. Pearce a. See attached Portland Fish Exchange Report presented to the Subcommittee on April 9, 2026 Discussion and vote to move forward with the Solar Installation Project for the 6. Portland Fish Exchange utilizing SEA Maine Grant Program Funds if awarded. a. On April 9, 2026, Energy Maine Experts presented the Fish Exchange Subcommittee with options for a solar panel installation on the Fish Exchange roof. Action Item - Pubic Comment 7. Other items not on the agenda. 8. Next Regular Meeting Date: May 21, 2026 9. Adjournment Page 2  Agenda Item #1a DRAFT Meeting Minutes PORTLAND FISH PIER AUTHORITY BOARD OF DIRECTORS SPECIAL MEETING March 19, 2026, 3:00 PM Remote Meeting Format on the Zoom Platform PFPA Board Members Present Class A Directors: Groundfish Harvester or Representative ​ ​ ​ Mary Hudson ​ Tracy Pearce Class C Directors: Representing the seafood industry of the State of Maine ​ Rob Odlin, Representing the Lobster Industry ​ ​ ​ Matthew Morretti, Representing the Aquaculture Industry Class E Director: Representing the City Council ​ ​ ​ Wesley Pelletier, District 2 Ex-Officio Members of the Board of Directors: ​ ​ ​ Representing the Commissioner of the Maine DOT ​ ​ ​ Chris Mayo ​ Representing the Commissioner of Maine DMR ​ ​ ​ Meredith Mendelson ​ PFPA Board Members Unable to Attend Class B Directors: Both positions are vacant Class D Director: John Arnold Ex-Officio Members: Brendan O’Connell, representing the Portland City Manager Staff Present ​ ​ Philip DiPierro, Facilities Manager Avery Novak, Associate Corporation Counsel ​ ​ Kaela Gonzalez, Program Coordinator ​ ​ Heather Moretti, Waterfront Coordinator Public​ ​ There were approximately four (4) members of the public present. 1. Approval of February 23, 2026 Meeting Minutes Motion to approve Meeting Minutes from February 23, 2026. Pelletier, 2nd Mendelson No Public Comment Page 3  Agenda Item #1a Approved 6-0 2. Salary Reimbursement Request for funding a portion of the Waterfront Coordinator Position for the 2027 Fiscal Year. Kaela Gonzalez, Program Coordinator Gonzalez presented the Board with a request to fund 30% of the Waterfront Coordinator position, amounting to $32,844, which includes benefits. This is the seventh annual such request. Motion to approve reimbursement of 30% of the Waterfront Coordinator position for the 2027 Fiscal Year. Mendelson, 2nd Mayo No Public Comment Approved 6-0-1 (Matt Moretti abstained, and Mayo joined after item #1 was taken up) 3. Financial Update. Kaela Gonzalez, Program Coordinator Gonzalez gave an overview of the Financial Update that was provided in the materials. The report now reflects an accurate FY26 vs FY25 comparison. The Finance Subcommittee plans to meet on April 1, 2026. 4. Facilities Update. Phil DiPierro, Project Manager DiPierro verbally presented the Facilities Update that was included in the meeting materials. The Shore Power Upgrade Project is scheduled to begin in April. TEC Associates completed their inspection for Service Piers 1 and 3. Dredging around the Fish Pier has been completed. The Mavodones Landing floats will remain at a temporary site. 5. Review and vote to accept and forward the Draft Annual Report for FY2026 to the Corporator (City Council) as a communication. Kaela Gonzalez, Program Coordinator This item was taken up after item #2. Gonzalez provided a brief overview of the Draft Annual Report for FY2026 which will be presented to the City Council on April 27, 2026. Motion to accept and forward the Draft Annual Report for FY2026 to the Corporator. Mendelson, 2nd Mayo No Public Comment Approved 7-0 6. PFPA Bylaws Update. Avery Novak, Associate Corporation Counsel Novak is going to start reviewing the bylaws and will work with Odlin, Mendelson, and City staff to update and reflect current practices. 7. Portland Fish Exchange Subcommittee Update. Chair of Subcommittee, Tracy Pearce Page 4  Agenda Item #1a Pearce provided an update on the Subcommittee Meeting from March 12, 2026, which included an overview of the Fish Exchange Manager’s Report and items discussed. There will be 3 interviews scheduled for the USM summer intern. The Exchange will start conducting scallop counts. Heather Moretti submitted the grant applications for Service Piers 1 and 3. Awards should be announced in early summer. 8. Other items not on the agenda. SEA Maine Grant funding opportunities will continue to be reviewed by the PFEX Subcommittee. Heather Moretti plans to meet with the new General Manager at Cozy Harbor. 9. Next Regular Meeting Date: May 21, 2026 at 3:00 p.m. 10. Adjournment. Remaining members approved adjourning by consensus (Hudson and Mendelson left the meeting before adjournment) The meeting was adjourned at approximately 4:20 p.m. Attachments included in the meeting packet: Draft Meeting Minutes from February 23, 2026 Waterfront Coordinator Compensation Reimbursement Request Portland Fish Pier Authority March Financial Update March Facilities Update March Portland Fish Exchange Update Draft FY26 Annual Report Page 5  PFPA 4.16.2026 Fish Pier Authority Agenda Item#2a FY26 Budget Status As of April 10 2026 FY26 vs. FY26 Budget YTD Balance % FY25YTD FY25 % Revenue: Miscellaneous 5,275 13,776 (8,501) 261.2% 3,880 9,895 255.0% Berthing 6,888 24,598 (17,710) 357.1% 23,180 1,418 6.1% Parking 518,637 440,925 77,712 85.0% 411,643 29,282 7.1% Ground Rent (Leases) 243,556 191,221 52,335 78.5% 200,636 (9,415) -4.7% Interest Income 67,470 (67,470) -100.0% Total Revenue 774,356 670,520 103,836 86.6% 706,809 (36,289) -5.1% Expenditures: Admin. and Maint. Servio 93,117 70,806 22,311 76.0% 83,923 (13,117) -15.6% Travel/Training/Meetings 1,500 0 1,500 0.0% 0 0 #DIV/0! Contractual Services 30,263 5,613 24,650 18.5% 3,623 1,990 54.9% Engineering Services 26,000 5,963 20,037 22.9% 6,954 (991) -14.3% Printing/Copying 1,200 1,246 (46) 103.8% 880 366 41.6% Equipment Repair 12,000 7,030 4,970 58.6% 4,250 2,780 65.4% Land/Pier/Building RepaiJ 200,000 30,018 169,982 15.0% 48,996 (18,978) -38.7% Insurance 15,120 15,750 (630) 104.2% 0 15,750 #DIV/0! Supplies 13,500 2,402 11,098 17.8% 1,492 910 61.0% Electricity 15,000 14,068 932 93.8% 15,598 (1,530) -9.8% Gas Service 6,176 #DIV/0! 987 5,189 525.5% Debt Service 9,822 9,822 0 100.0% 10,273 (451) -4.4% Contributions 250,000 (250,000) 100.0% Total Expenditures 417,522 418,893 4,805 100.3% 0 224,839 150.1% Net Revenues Over(Under) ExpE 356,834 251,627 105,207 404,821 (172,841) -42.7% Page 6  PFPA 4.16.2026 Agenda Item # 3a Public Buildings & Waterfront Division Director Robert Kierstead To: Portland Fish Pier Authority Board From: Philip DiPierro, Facilities Project Manager Date: April 10, 2026 RE: Facilities Update CC: Rob Kierstead, Director Please find below a listing of the monthly improvements to the Portland Fish Pier by the Public Buildings and Waterfront Division: Updates March 2026 ● The Shore Power Upgrade Project is under construction. The project is expected to be completed by the end of June. ● The fiber optics line for the security system is in the process of being installed. As soon as a PO is issued, Consollidated Communications is expected to complete the work. Camera installations will follow later this year. ● Fender system maintenance is ongoing. City staff will continue to develop a plan, and a scope of work for completing this project. ● General site maintenance continues throughout the facility. The City’s Parks Department has started Spring grounds maintenance for the season. Updates February 2026 ● The Shore Power Upgrade Project is scheduled to begin in April. Submittals are being reviewed and materials have been ordered. ● TEC Associates completed an inspection for Service Piers 1 and 3. The report has been revised and updated, and it will be used as the basis for a grant application for funding to replace the piers. ● Dredging around the Fish Pier has been completed. The Mavodones Landing floats will remain at their temporarily offsite location until they are reinstalled at the seasonal Mavodones Landing site by Sail Maine. ● The fiber optics line for the security system is in the process of being installed. As soon as a PO is issued, Consollidated Communications is expected to complete the work. Camera installations will follow later this year. ● Fender system maintenance is ongoing. City staff will continue to develop a plan, and a scope of work for completing this project. ● General site maintenance and grounds maintenance continues throughout the facility. Updates November 2025 thru January 2026 ● The City executed a contract with Northern Electric, Inc. for the shore power upgrade project. Materials have been ordered and work will begin when materials are received. ● TEC Associates completed an inspection and is updating the condition report for Service Piers 1 and 3. ● Dredging around the Fish Pier is scheduled for 2/18 thru 2/28. The Mavodones Landing floats and fishing boats will be temporarily relocated during the dredging. Public Buildings & Waterfront Administrative Offices 212 Canco Road, Suite C, Portland, Maine 04103 (207) 808-5400 Page 7  ● City staff has reviewed options for installing fiber optics at the Fish Pier site, and connecting security cameras to the City’s network. The fiber optics line is in the process of being installed. Camera installations will follow later this year. ● The City of Portland Water Resources west parking lot stormwater/sewer project is scheduled to start in July of 2026, and be completed by Memorial Day of 2027. Water Resources can provide an update at the Board’s request. ● Fender system maintenance is ongoing. City staff will continue to develop a plan, and a scope of work for completing this project. ● The sinkholes at Look’s Lobster’s site, and adjacent to the home fleet berthing area have been filled and paved. ● General site maintenance and grounds maintenance continues throughout the facility. Updates October 2025 ● The City received two bids for the shore power upgrade project. I am working with the City’s Purchasing Department to finalize a contract so that the project can start. ● City staff has reviewed options for installing fiber optics at the Fish Pier site, and connecting security cameras to the City’s network. The project will need to be funded before it can move forward. ● The City of Portland Water Resources west parking lot stormwater/sewer project is scheduled to start in July of 2026, and be completed by Memorial Day of 2027. Water Resources will provide an update during the winter, or earlier if needed. ● Fender system maintenance is ongoing. City staff will continue to develop a plan, and a scope of work for completing this project. ● New parking signage around the Fish Exchange site has been installed. ● The parking areas in front of the exchange, and the loading docks have been restriped. ● The sinkholes at Look’s Lobster’s site have been assessed. City staff is working with Look’s to determine a schedule for completing the work. A contractor has been hired to complete the work. ● The Mavodones Landing floats have been relocated to sorting pier 1 for the winter. They will be moved back to the Maodones Landing site in the spring, for the summer and fall seasons. ● General site maintenance and grounds maintenance continues throughout the facility. Updates September 2025 ● The pre-bid meeting for the shore power upgrade project was held on October 15’th. Bids are due by October 29’th. ● City staff is in the process of reviewing options for installing security cameras throughout the Fish Pier complex. The IT Department is pricing options for cameras and equipment to figure out the most cost-effective way to deploy the system i.e. standalone system vs connecting to the network. ● City of Portland Water Resources west parking lot stormwater/sewer project update to follow. ● Fender system maintenance is ongoing. City staff will continue to develop a plan, and a scope of work for completing this project. ● City staff is working with the Fish Exchange to update and reinstall new parking signage around the Fish Exchange site. New signs have been made and will be installed within the next month. ● City staff is working with the Fish Exchange to re-stripe the parking areas in front of the exchange, and to re-stripe the loading docks. A striping company has been hired and work is expected to be completed the weekend of the 18’th. ● The sinkholes at Look’s Lobster’s site have been assessed. City staff is working with Look’s to determine a schedule for completing the work. Public Buildings & Waterfront Administrative Offices 212 Canco Road, Suite C, Portland, Maine 04103 (207) 808-5400 Page 8  ● General site maintenance and grounds maintenance continues throughout the facility. Updates August 2025 ● The bid package for the shore power upgrade project has been sent to the City’s Purchasing Department for review. It is currently in the queue for review. Once approved, it will be advertised for bidding. ● City staff met a second time with a vendor to look at a portion of the Fish Pier site for the installation of security cameras. A revised proposal has been received and it is currently under review by City staff. ● City staff has inspected the fender system of all the piers to assess maintenance needs. Several piles need to be either pulled and rebolted, or replaced. There are also several chocks and walers that need to be either repaired or replaced. City staff will develop a plan and scope of work for completing this project. ● City staff is working with the Fish Exchange to update and reinstall new parking signage around the Fish Exchange site. Several signs are missing and faded and need to be replaced. ● City staff is working with the Fish Exchange to re-stripe the parking areas in front of the exchange, and to re-stripe the loading docks. ● General site maintenance and grounds maintenance continues throughout the facility. Updates July 2025 ● A bid package for the shore power upgrade project has been sent to the City’s Purchasing Department for review. Once approved, it will be advertised for bidding. ● City staff met with a vendor to look at a portion of the Fish Pier site for the installation of security cameras. A proposal has been received and it is currently under review by City staff. ● City staff has inspected the fender system of all the piers to assess maintenance needs. Several piles need to be either pulled and rebolted, or replaced. There are also several chocks and walers that need to be either repaired or replaced. City staff will develop a plan and scope of work for completing this project. ● The parking lot striping project on the west side (next to GMRI) of the Fish Pier site has been completed. ● Grounds maintenance for the season is ongoing. ● General site maintenance continues throughout the facility. Updates May through June 2025 ● Engineering and plans have been completed for the shore power upgrade project in the net yard and sorting pier one. The project is ready for bidding upon securing financing. ● A local contractor has been hired to complete the restriping and numbering of the parking lot on the west side (next to GMRI) of the Fish Pier site. The work is expected to take place within the next month. ● Several camels throughout the facility have been cleaned of marine growth and several camel chains and weights have been replaced due to corrosion and wear. ● Grounds maintenance for the season is ongoing. ● Ongoing maintenance continues throughout the facility. Updates March through April 2025 ● Engineering and plans have been completed for the shore power upgrade project in the net yard and sorting pier one. City staff has reviewed it with the Fish Pier Board and Fish Pier staff, and a bid package has been prepared. The project is ready for bidding upon securing financing. ● City staff met with an engineer/representative of TRC Companies, an engineering firm involved with the dredge operation in the harbor, to discuss the next phase of dredging. Dredging is Public Buildings & Waterfront Administrative Offices 212 Canco Road, Suite C, Portland, Maine 04103 (207) 808-5400 Page 9  expected to take place between November 2025 through March 2026. The next phase will involve dredging in the area of the Fish Pier. ● Grounds maintenance for the season is ongoing. ● Ongoing maintenance continues throughout the facility. Public Buildings & Waterfront Administrative Offices 212 Canco Road, Suite C, Portland, Maine 04103 (207) 808-5400 Page 10  PFPA 4.16.2026 Agenda Item# 4a PFE FY2027 BUDGET July August September October NovemberDecember January February March April May June Total YTD Groundfish Lbs. on auction 2,000,000 225,000 225,000 250,000 225,000 225,000 150,000 150,000 175,000 100,000 75,000 75,000 125,000 2,000,000 Groundfish Lbs. off-auction 75,000 20,000 20,000 15,000 15,000 5,000 0 0 0 0 0 0 25,000 75,000 Total 2,075,000 2,075,000 July August September October NovemberDecember January February March April May June Total YTD Monthly Percentage 12% 12% 12% 12% 11% 7% 7% 8% 5% 4% 4% 7% 100% 0.12 0.12 0.12 0.12 0.11 0.07 0.07 0.08 0.05 0.04 0.04 0.07 1 Pumping 1,500,000 500,000 500,000 500,000 0 0 0 0 0 0 0 0 0 1,500,000 3,750 3,750 3,750 0 0 0 0 0 0 0 0 0 11,250 REVENUE July August September October NovemberDecember January February March April May June Total YTD Fish Fees 300,000 36,000 36,000 36,000 36,000 30,000 21,000 21,000 24,000 15,000 12,000 12,000 21,000 300,000 Fee Income 600,000 72,000 72,000 72,000 72,000 60,000 42,000 42,000 48,000 30,000 24,000 24,000 42,000 600,000 Boxes 16,000 1,920 1,920 1,920 1,920 1,600 1,120 1,120 1,280 800 640 640 1,120 16,000 Berthing 57,000 6,840 6,840 6,840 6,840 5,700 3,990 3,990 4,560 2,850 2,280 2,280 3,990 57,000 Rental Income 260,000 31,200 31,200 31,200 31,200 26,000 18,200 18,200 20,800 13,000 10,400 10,400 18,200 260,000 Utility Reimbursement 8,500 1,020 1,020 1,020 1,020 850 595 595 680 425 340 340 595 8,500 Subtotal 1,241,500 148,980 148,980 148,980 148,980 124,150 86,905 86,905 99,320 62,075 49,660 49,660 86,905 1,241,500 Misc. Income (auction discrepancy -1,200 -144 -144 -144 -144 -120 -84 -84 -96 -60 -48 -48 -84 -1,200 Berthing Rebates -1,891 -227 -227 -227 -227 -189 -132 -132 -151 -95 -76 -76 -132 -1,891 Total -3,091 -371 -371 -371 -371 -309 -216 -216 -247 -155 -124 -124 -216 -3,091 Net Revenue 1,235,318 148,238 148,238 148,238 148,238 123,532 86,472 86,472 98,825 61,766 49,413 49,413 86,472 1,235,318 COST OF GOODS SOLD July August September October NovemberDecember January February March April May June Total YTD Boxes/Cartons 40,859 4,903 4,903 4,903 4,903 4,086 2,860 2,860 3,269 2,043 1,634 1,634 2,860 40,859 Total 40,859 4,903 4,903 4,903 4,903 4,086 2,860 2,860 3,269 2,043 1,634 1,634 2,860 40,859 Net Revenue 1,194,459 143,335 143,335 143,335 143,335 119,446 83,612 83,612 95,557 59,723 47,778 47,778 83,612 1,194,459 Operations July August September October NovemberDecember January February March April May June Total YTD Labor 557,164 66,860 66,860 66,860 66,860 55,716 39,001 39,001 44,573 27,858 22,287 22,287 39,001 557,164 Safety/Medical 4,500 540 540 540 540 450 315 315 360 225 180 180 315 4,500 Direct Supplies 64,200 7,704 7,704 7,704 7,704 6,420 4,494 4,494 5,136 3,210 2,568 2,568 4,494 64,200 Uniforms 9,600 1,152 1,152 1,152 1,152 960 672 672 768 480 384 384 672 9,600 Repairs & Maintenance 54,000 6,480 6,480 6,480 6,480 5,400 3,780 3,780 4,320 2,700 2,160 2,160 3,780 54,000 Total Operations Expense 689,464 82,736 82,736 82,736 82,736 68,946 48,262 48,262 55,157 34,473 27,579 27,579 48,262 689,464 Admin & Management July August September October NovemberDecember January February March April May June Total YTD Page 11 Administrative Pay 286,365 34,364 34,364 34,364 34,364 28,637 20,046 20,046 22,909 14,318 11,455 11,455 20,046 286,365 Dues & Licenses 1,500 180 180 180 180 150 105 105 120 75 60 60 105 1,500 Security System 2,500 300 300 300 300 250 175 175 200 125 100 100 175 2,500 Utilities 173,160 20,779 20,779 20,779 20,779 17,316 12,121 12,121 13,853 8,658 6,926 6,926 12,121 173,160 Gen Ins Coverage 95,230 11,428 11,428 11,428 11,428 9,523 6,666 6,666 7,618 4,762 3,809 3,809 6,666 95,230 Interest Expense 5,000 600 600 600 600 500 350 350 400 250 200 200 350 5,000 Office Expense 5,000 600 600 600 600 500 350 350 400 250 200 200 350 5,000 IT Services 43,500 5,220 5,220 5,220 5,220 4,350 3,045 3,045 3,480 2,175 1,740 1,740 3,045 43,500 Office Equip Repair 1,000 120 120 120 120 100 70 70 80 50 40 40 70 1,000 Hardware 5,000 600 600 600 600 500 350 350 400 250 200 200 350 5,000 Software Licensing 2,500 300 300 300 300 250 175 175 200 125 100 100 175 2,500 Legal and Accounting 35,000 4,200 4,200 4,200 4,200 3,500 2,450 2,450 2,800 1,750 1,400 1,400 2,450 35,000 Banking Fees 2,500 300 300 300 300 250 175 175 200 125 100 100 175 2,500 Fringe Benefits 5,000 600 600 600 600 500 350 350 400 250 200 200 350 5,000 Travel & Meals 3,000 360 360 360 360 300 210 210 240 150 120 120 210 3,000 Total 666,255 79,951 79,951 79,951 79,951 66,626 46,638 46,638 53,300 33,313 26,650 26,650 46,638 666,255 July August September October NovemberDecember January February March April May June Total YTD Revenue 1,241,500 148,980 148,980 148,980 148,980 124,150 86,905 86,905 99,320 62,075 49,660 49,660 86,905 1,241,500 Sales Adjustments -3,091 -371 -371 -371 -371 -309 -216 -216 -247 -155 -124 -124 -216 -3,091 Net Sales 1,238,409 148,609 148,609 148,609 148,609 123,841 86,689 86,689 99,073 61,920 49,536 49,536 86,689 1,238,409 COG Sold 40,859 4,903 4,903 4,903 4,903 4,086 2,860 2,860 3,269 2,043 1,634 1,634 2,860 40,859 Gross Profit 1,197,550 143,706 143,706 143,706 143,706 119,755 83,829 83,829 95,804 59,878 47,902 47,902 83,829 1,197,550 Total Expenses 1,355,719 162,686 162,686 162,686 162,686 135,572 94,900 94,900 108,458 67,786 54,229 54,229 94,900 1,355,719 Gross Income -158,169 -18,980 -18,980 -18,980 -18,980 -15,817 -11,072 -11,072 -12,654 -7,908 -6,327 -6,327 -11,072 -158,169 Net Income -158,169 -18,980 -18,980 -18,980 -18,980 -15,817 -11,072 -11,072 -12,654 -7,908 -6,327 -6,327 -11,072 -158,169 Page 12  PFPA 4.16.2026 Agenda Item# 5a PORTLAND FISH EXCHANGE Management/Financial Report for April, 2026 GF Landings - Auction Actual Budgeted Variance March 2026-7 135K 75K 60K GF Landings - Auction Actual Budgeted Variance March 2025 - 7 85K 225K (140K) Contract Unloads - GF Actual Budgeted Variance March 2026 31K 0 31K Total GF Land/Unloads Actual Budgeted Variance March 2026 166K 75K 91K Pumuing Actual Budgeted Variance 2026 YTD 650K 1.2M (480K) Financial Reuort Net Income Budgeted Variance March 2026 $ ($17,855) $ Financial Notes • $70K of $250K LOC currently in use. • $SOK Cash Reserve available • Current receivables are $1 l 4K consisting of rent, buyer fees, berthing, net yard use, bait storage, barrel storage & warehousing • Current checkbook is at $84K before payments to vendors, fleet, and payroll • High checking balance for the month was $1J0K, a low of $21k, and an average of $85k. Page 13 March Auction Sales • Of the 134,843 pounds landed at the Exchange for the month of March, 85,605 pounds were sold during the normal bidding process to one of our Exchange buyers - seat holders. • 30,505 pounds were scratched or not bid on, but still sold through the auction as After Auction Sales. • 21,669 pounds were refused by the seller to be sold on the Exchange auction platform. All scratch and or no bid fees are applied and the fish is given back to the seller to do with as they will. As stated in the Exchange rules and regulations, 'Refused or No Bid fish remains the property of the seller and may be removed or left for the next auction.' • 64 pounds were left on the floor for the next auction. Operations Notes • Several vessels in the fleet are currently scalloping. The Eleanor J, Josephine L, and DD Mae II are actively fishing for the Exchange • The F/V Eleanor J has completed two redfish contract unloads for Tri-State totaling over 55,000 lbs., generating more than $11,000 in revenue for the Exchange. An additional trip is expected this week. • The Operations Manager and team have established routine projects for the spring slow season. Some of these efforts include scraping interior and exterior surfaces for paint touch-ups, pressure washing equipment, buildings, and dock shelters, cleaning roofs and gutters, and repairing or replacing damaged or worn polyethylene plastic sheeting for offload chutes. • To improve efficiency for the upcoming fishing season, an additional offload station will be reactivated across from the existing station on the east side of the extension pier. This will eliminate vessel repositioning delays and provide operational redundancy. Facility Report • The new control system installation is nearing completion. This week, crews began wiring the compressors, condensers, and evaporators to the new panel, marking the final phase of the installation. Page 14 Staff Report • The recently hired part-time employee for the fish crew has accepted a different employment opportunity and will not be continuing with us at the Exchange. We wish him well in his future endeavors. • Thomas Bailey joined the team on Monday, April 6, as a part-time Office Administrator. A Maine native recently returned to the state, Thomas is pursuing a business degree through evening classes at SMCC and brings prior IT experience to the role. He will be working closely with our Office Manager to learn daily tasks and provide added support for office operations. New/Returning Vessels • Nothing to report New / Returning Buyers • Nothing to report Page 15