Plant Materials Center Update
Here are 5 things that you should know about the PMC for March 9, 2023:
Financials
Lori McLaughlin completed the financial reports for February. One thing that stands out is that the Net Income has turned from negative to positive, a positive $94,090. That number combines both Executive and PMC revenue and expenses. It is the first time in 9 or 10 months that it is positive due to the seasonal nature of the PMC’s revenue and expenses. Now that a significant quantity of plants has been shipped and paid for revenue is exceeding expenses. That will continue for the next couple of months and hopefully in a significant way since revenue will decline, net income will go back to being negative and it will be months before revenue picks up again.
The PMC Income statement shows a continuation of the trend all year of increased revenue and expenses. Total revenue received fiscal year to date was $1,102,282 as of February 28th and it was $834,869 at the same time last year. That increase of over a quarter million dollars is a combination of increased sales and increased shipping earlier in the season which will cause that net increase to balance out some later in the season.
Expenses continue to exceed last year’s by almost $150,000 with Federal Income Tax and wages leading the list of expenses that are over last year.
Sales
There is not a new sales report this week but it can be said that sales continue to exceed last year’s by over $100,000. Sales have been good and it looks like that trend will continue into the coming year.
Harvest Continues
Last week’s PMC Update predicted the completion of harvest soon. That day has not yet arrived but it is very close. By this time next week, the 2022-23 harvest season will be history and none too soon. Some of the crew will be going to their spring and summer jobs but fortunately, most have remained to help finish the job. I think I can speak for everyone in saying that it feels like it has been a demanding season and it tells.
Shipping Continues
The end of harvest does not portend the end of shipping. The cooler will remain on until early April and shipping will continue at a high rate for at least another month.
What’s Ahead
When the last plant runs down the processing line the crew will turn its attention to field cleanup and then transplanting season. After 3 ½ months in the packing shed it will be nice to get back outside growing plants.
I hope this helps. Please let me know if you have any questions. You can find older posts about the Plant Materials Center at https://wadistricts.us/topics/wacd/pmc/
Jim Brown
Director of Nursery Operations