TX - Port of Galveston to consider budget cuts today
The Galveston Wharves Board of Trustees today will for the first time consider adjusting its budget to reflect the economic downturn caused by the COVID-19 crisis.
Exactly how much the port will adjust its financial picture will still be up for debate, however. How deep the cuts go largely will depend on when cruise ships resume operating from the Port of Galveston.
Trustees will review three scenarios forecasting port revenues for the remainder of the fiscal year, which ends Dec. 31.
The scenarios project what the port's revenues would look like if cruising returned July 21, Oct.1 or if cruises don't resume at all in 2020.