The Lake Charles Harbor and Terminal District reported mixed financial results for November 2023 during their regular meeting on December 18, 2023. The district generated revenues of $3.5 million, falling short of expectations by $300,000, primarily due to timing issues with Bayride operations. On the expense side, total costs reached $3 million, also unfavorable by $300,000, driven by ongoing legal expenses, increased insurance costs, and higher employee medical expenses. However, the district anticipates receiving a reimbursement related to its insurance policy.

Non-operating revenues and expenses were similarly unfavorable, totaling $100,000, largely attributed to asset write-offs typically conducted at year-end. The district reported an EBITDA of $400,000 and generated cash flow of $1 million.

On the balance sheet, the district noted significant changes due to hurricane recovery efforts and adjustments related to GASB 87. A notable highlight was a substantial increase in fixed assets, which rose by approximately $40.7 million year-over-year. This increase is largely due to the completion of rehabilitation projects for parts 2 and 3, which have now transitioned from construction progress to fixed assets.

The meeting concluded with an invitation for questions regarding the financials, indicating a commitment to transparency and stakeholder engagement as the district navigates its financial landscape.