FALMOUTH – To allow the public to learn more about the possible rate adjustments and challenges facing the Steamship Authority next year, officials have scheduled two public information sessions on the proposed 2021 operating budget.
Communications Director Sean Driscoll said that the operating budget is forecast to have a net loss of $1.3 million dollars due to anticipated lingering effects of the global COVID-19 pandemic.
The proposed rate adjustments would help bring in an additional $8.7 million in revenue, leading to a net margin of about $7 million dollars for the Authority.
“It’s very challenging right now, especially trying to forecast what COVID is going to do to everybody in 2021. We’re expected that we’re going to be hit most in passenger traffic, but that vehicle traffic and truck traffic will remain fairly steady, which has been our experience here in the late summer into the fall,” said Driscoll.
The Steamship Authority secured a commitment from the state in the supplemental budget bill that the Commonwealth would cover any operational deficit that the Authority incurs in 2020, but Driscoll said that they do not know if that will happen in 2021.
“To be responsible, we have to go into ’21 assuming we’re going to be on our own again,” said Driscoll.
Both sessions will begin with a brief presentation, followed by answering questions from participants.
They are expected to run at least 30 minutes, depending on the number of participants and questions.
“We know nobody likes a rate increase, we don’t like to have to do it, and it’s an unfortunate fact of life, especially this year. It’s going to be larger than we would prefer,” said Driscoll.
“We’re being actually relatively optimistic in our projections for passengers that we’re expecting with 90% of what we have in a normal year. It will certainly be less than that, so we need to be able to absorb those fluctuations.”
The video-conferences will be held via Zoom at 5 pm Wednesday, November 4 and 10 am Thursday, November 5, and can be accessed using the meeting ID 858 4410 7729.
Participants can also call (929) 436-2866, (301) 715-8592, (312) 626-6799, (669) 900-6833, (253) 215-8782, or (346) 248-7799.
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