July financial briefing: port reports $4.3 million revenue, Warehouse 300 capitalized; $7.5M state check reissue pending

At its Aug. 28 meeting the Lake Charles Harbor and Terminal District received its July 2025 financial briefing, in which staff reported $4.3 million in revenues for July and $1.7 million in cash flow for the month. Finance staff said July revenues were $400,000 unfavorable to budget, driven by lower petroleum coke volumes; operating expenses were about $200,000 favorable due to the same lower tonnage. Depreciation was described as favorable because of timing related to project completions. Staff reported that fixed assets increased by about $34.3 million because several large projects were capitalized, citing Warehouse 300 as a recently completed project moved from construction in progress into fixed assets. Construction-in-progress balances were down $5 million from prior months for the same reason. On nonoperating items, staff said interest expense was lower than prior reports due to favorable terms on interim financing and that nonoperating revenues were about $100,000 favorable. Finance staff also reported an issue with a $7.5 million check issued by the state agency (identified in the transcript as Gosep). Staff said the check had not been received, was cancelled, and the state confirmed cancellation and began reissuing the payment; staff said they expected the reissued check to arrive soon and that they would report back next month. Why it matters: Revenues, capitalizations and large intergovernmental payments affect cash flow, debt servicing and the port’s balance sheet. Capitalization of Warehouse 300 moves project costs onto the balance sheet as fixed assets rather than construction-in-progress. Details and limitations: Staff provided dollar figures for July revenue, cash flow, fixed-asset increases and construction-in-progress adjustments. The transcript does not include comprehensive monthly financial statements, line-item budgets or the final text of the state payment transaction; staff indicated they will report back next month on the reissued $7.5 million check.