In an executive committee meeting held last week Dave Reggiani, the president of PSWAC, reported that revenue projections for fiscal year 2008 could wind up close to $1.5 million.
Reggiani reported that an increase in salmon prices and sales during egg take, coupled with an already budgeted surplus and a decrease in expenses, accounted for the sizeable surplus. Reggiani also stated that PWSAC met its $11 million contingency goal for cash reserves last year.
Collectively, the hatcheries project came in under budget for expenses.
Reggiani complimented the visiting regional hatchery managers for "doing a great job out there keeping an eye on the budget."
Committee member Steve Smith inquired about a plan for expending the projected surplus.
"That's one of the big things that the finance committee is eager to jump into and talk about," Reggiani said.
Salmon project contributes to $1.5 million revenue surplus
US - A bountiful return of hatchery salmon stocks in 2007 proved to be a boon for both the Prince William Sound commercial fishing fleet and the Prince William Sound Aquaculture Corporation (PWSAC).