Port Commission discusses possible rate increases, vessel insurance requirement
February 8, 2023
Thanks to its aging infrastructure and pricey upcoming projects, Port and Harbors is the least financially sustainable of all the borough’s enterprise funds. Last Thursday, the Port Commission met with Finance Director Mason Villarma and Susan Erickson of P-W Insurance to come up with a plan to improve the fund’s finances while minimizing the impacts on cash-strapped Wrangell residents.
One major takeaway from the 2021 audit, Villarma explained, was that many of the borough’s self-supporting funds — particularly the Port and Harbors account — are not bringing in enough money to k...
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