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Finance briefing: January revenues ahead, FEMA GOSEP projects increase, executive director expense report filed
Summary
Staff reported January 2025 revenues of about $3.8 million, favorable by roughly $100,000; expenses were about $2.4 million; cash flow was reported at $1.8 million. FEMA GOSEP project totals increased and the executive director filed $7,700 in expenses for Oct–Dec 2024. The board also received an annual disadvantaged business enterprise update.
Finance staff presented January 2025 financial results and routine reports on FEMA GOSEP activity, the executive director's travel and expenses, and the port's disadvantaged business enterprise goals.
Cameron, the finance presenter, reported January revenues of approximately $3,800,000, about $100,000 favorable to budget, noting a few leases started earlier than anticipated and that petcoke volumes were up. Operating expenses for the month were about $2,400,000, roughly $500,000 favorable to budget. Cash flow for January was reported at about $1,800,000; year‑to‑date cash on the balance sheet was down about $3,600,000 as projects moved cash into construction-in-progress, which increased about $6,400,000.
On FEMA GOSEP matters, Cameron said project totals increased by approximately $3,300,000 as projects moved through FEMA review and reconciliation; staff noted two large projects related to cranes accounted for the fluctuation. The presenter said the port received about $280,000 in FEMA-related reimbursements in the reporting period.
Executive director travel and expenses for Oct.–Dec. 2024 were submitted at $7,700, which staff said included attendance at several Louisiana Ports and Waterways Investment Commission meetings, the AAP convention, and other events.
On disadvantaged business enterprise (DBE) goals, staff said the port adopted a DBE policy in February 2008 and provided an annual update. The briefing noted that reconstruction of Shed 7 was awarded to a DBE contractor, which staff said helped the port meet its goals.
Commissioners asked routine clarifying questions. No board action was taken on these reports.
