The Caddo-Bossier Port Commission has ended its fiscal year with nearly $92 million in cash and an $8.2 million increase in net position. This growth is attributed to a combination of factors, including a significant increase in lease rental income, oil and gas royalty income, ad valorem taxes, and port operations.
Financial Highlights
The audit by Heard, McElroy & Vestal LLC Certified Public Accountants revealed that the port’s overall net position increased from $195.3 million to $203.5 million, a 4.2% gain. The Louisiana Department of Transportation and Development was the largest grantor of contributed capital last year.
The port generates revenue from property taxes collected based on assessed value, or ad valorem, which increased by nearly 11%, from $8.03 million to $8.90 million. Its cash position grew to $91.6 million, while debt dipped from $95.5 million to $91.6 million.
Future Plans
The audit also mentions that the port has plans for various projects in 2026, with a projected cost of $20.4 million. These projects include road construction and repair, rail service lines, general cargo dock and concrete rehab, bridge construction, fire station improvements, and the purchase of a fire truck and front-end loader.
Original reporting: KTBS 3 (Shreveport) — read the source article.
