GORE BAY—Gore Bay Mayor Ron Lane said based on the financial figures provided for the 2025 boating season, it again proves how valuable the marina is to the town.

“The forecast for our 2025 budget had been for a contribution of $123,979 from marina operations to general revenue. But actually, from marina operations we are looking at a net profit of about $130,000,” said Gore Bay Mayor Ron Lane at a town council meeting last week. “This amount will go into the general operations for the town.”

“For those who do not think the marina is of value to the town, with about $130,000 going back into the town this year should answer any questions we receive as to why we have a marina,” stated Mayor Lane. “It is the only thing that makes money for the town except for taxes. It is important for the general public to know and understand this.”

Town Treasurer Michael Lalonde explained that financially, 2025 operations at the marina resulted in a modestly higher surplus than budgeted. While revenues were lower than anticipated in several categories, including fuel sales, other services and the loss of most Canadian Yacht Charters (CYC) revenue, these decreases were offset by reduced expenditures such as fuel purchases, bank fees and related operating costs. He explained in 2025, the marina also invested $18,512 in capital improvements, including $12,500 toward finalizing the design for phase two of the marina project and $6,012 for enhanced internet services.
“The marina capital reserve fund will continue to increase from $56,159 to approximately $82,000,” said Mr. Lalonde. “The 2025 budget had forecasted a contribution of $123,979 from marina operations to general revenue; however, based on year-end results, this figure is expected to increase by approximately $10,000.”

Council accepted the report.