The Ogden Point Breakwater was closed to the public on March 24 to help limit the spread of COVID-19 but reopened on May 20 as the province began to phase out a reopening plan. (Nina Grossman/News Staff)

Greater Victoria Harbour Authority works towards recovery, growth in next fiscal year

Annual report states GVHA concludes fiscal year with an operating revenue of $16.3 million

The Greater Victoria Harbour Authority is still in good shape despite dealing with the pandemic that halted cruise ship travel earlier this year.

GVHA released its annual report, which pointed to “strong revenues and prudent fiscal management” as the reason the organization came out with $3.6 million in cash from its operations, – $700,000 better than budgeted – and concluded the fiscal year with operating revenues of $16.3 million.

A press release from the GVHA states all surplus cash is reinvested in facilities, aiming to advance the organization’s mandate of stewardship and sustainable growth to the capital’s working harbour.

Throughout the fiscal year, GVHA invested $7.3 million back into its capital assets, which included completing the 58-metre extension to the mooring dolphin at the Victoria Cruise Terminal at the Breakwater District, extending the life of the deep-water terminal.

READ ALSO: Harbour authority CEO charts course for return of cruise ships to post-pandemic Victoria

In an effort to slow the spread of the coronavirus, cruise season was postponed to July 1 and then pushed back to Oct. 31, which the GVHA has said will “severely” impact revenues in the coming fiscal year.

Revenues from cruise ship arrivals help maintain the infrastructure at places such as Ogden Point Breakwater, Ship Point and the Inner Harbour Lower Causeway, which are funded through multi-year capital project planning.

READ ALSO: Victoria cruise ship cancellations will have ‘significant economic impacts,’ GVHA says

CEO Ian Robertson issued a statement calling the year a “mix of milestone moments and major projects,” adding that “dedicated members of our organization will be what helps us navigate our way through this unexpected and challenging time toward recovery and future growth.”

During the fiscal year, the GVHA unveiled the new brand and visual identity at the Breakwater District; saw the arrival of the Royal Caribbean Ovation of the Seas, the largest ship to ever sail to the region; and completed the full-scale emissions inventory for the Victoria Cruise Terminal, which will provide baseline data for greenhouse gas emissions to begin looking at the feasibility and business case for shore power.

To read the full report visit gvha.ca/about-gvha/reports-statements.


 

Do you have a story tip? Email: vnc.editorial@blackpress.ca.

Follow us on Twitter and Instagram, and like us on Facebook.

Inner Harbour

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

The Skeena Queen, serving the Swartz Bay-Fulford Harbour route has been out of action since early Wednesday morning, forcing BC Ferries to cancel eight sailings connecting the Saanich Peninsula and Salt Spring Island. It is not clear when service will resume. (Don Descoteau/News Staff)
BC Ferries cancels sailings between Greater Victoria and Salt Spring Island

With repairs to Skeena Queen underway, it is not clear when service will resume

Victoria police ticketed and impounded the vehicles of two drivers after they were caught speeding through a school zone. (Black Press Media file photo)
Two drivers caught doing nearly triple the speed limit in Victoria school zone

Almost $1,000 in fines, vehicle impounded for each motorist

Michael Arthor Leighton is wanted by the Saanich Police Department for assault. (Greater Victoria Crime Stoppers/Twitter)
Police seek man wanted for assault in Saanich, multiple charges in other jurisdictions

Michael Arthor Leighton is known to travel around the Island, Saanich police say

Lookout Lake water levels are low as the dam undergoes upgrades. (Aaron Guillen/News Staff)
Colwood dam upgrades projected to be under budget

Province designates Lookout Brook as a high consequence dam should it fail

The Turkey Head Walkway. (Travis Paterson/News Staff)
Oak Bay community sees untapped potential in Turkey Head

Part 3 of a closer look at Oak Bay Marina and Turkey Head

FILE – People wait in line at a COVID-19 testing facility in Burnaby, B.C., on Thursday, August 13, 2020. THE CANADIAN PRESS/Darryl Dyck
167 new COVID-19 cases, 1 death recorded as B.C. enters 2nd wave

Three new healthcare outbreaks also announced

Advance polls are open from Oct. 15 to 21 with election day on Oct. 24. (Black Press Media file photo)
Brody Peterson said he intends to dispute tickets issued by Grand Forks RCMP at his backyard “house warming” Saturday, Oct. 10. Photo: Laurie Tritschler
Brody Peterson told The Gazette he intends to dispute tickets issued by Grand Forks RCMP at his backyard “house warming” Saturday, Oct. 10. Photo: Laurie Tritschler
Grand Forks RCMP recommend criminal charges after weekend party

Homeowner Brody Peterson said he’ll dispute tickets for refusing police instructions, alleged COVID violations

A glimpse of some of the 480 (approx) cars written off as a result of the acid spills along the Trail highway in 2018. Photo: Trail Times
Kootenay Ford dealer’s frustration grows with ICBC

Trail AM Ford owner Dan Ashman says he just wants fair compensation from ICBC

Mail-in ballot from Elections BC (Katya Slepian/Black Press Media)
At least 26% of eligible voters have already cast their ballot, Elections BC says

Voters can cast a ballot until 8 p.m PST on Election Day

A 2018 decision to fly a rainbow flag ended up costing the City of Langley $62,000 in legal fees (Langley Advance Times file)
Human rights win in rainbow flag fight cost B.C. city $62,000

“Lengthy and involved” process provoked by complaint

Spawning salmon have returned to local streams. (The Canadian Press)
TOP 5: Suggestions for your week ahead

This week – storytime, politics and wildlife

Prime Minister Justin Trudeau is seen during a news conference Tuesday October 20, 2020 in Ottawa. THE CANADIAN PRESS/Adrian Wyld
Trudeau and his family decide against trick-or-treating this year due to COVID

Adhering to local health authorities, Trudeau urges Canadians to do their part in following those guidelines

Surrey RCMP cruisers outside a Newton townhouse Tuesday night. (Photo: Shane MacKichan)
Toddler in hospital, woman dead following stabbings at Surrey townhouse

Police say two-year-old was among victims found at townhouse complex in the 12700-block of 66 Avenue

Most Read