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Port Authority of Evansville accepts May minutes and approves April financial report
Summary
At its June 2 meeting the Port Authority of Evansville approved the May 12 meeting minutes and accepted the April 2025 financial report; staff reported a $49,002.38 net for April and noted a $96,250 transfer from the parks fund.
The Port Authority of Evansville on June 2 approved the meeting memorandum for May 12, 2025, and accepted its April 2025 financial report after a staff presentation and voice votes.
The authority’s financial presenter, Mister Gunter, a Port Authority staff member, told the meeting that April receipts included a $96,250 transfer from the parks fund that supplements Port Authority operations because the authority lacks a steady revenue source. He reported total revenue of $97,008.75, total expenditures of $48,006.37 and a net of $49,002.38 for April 2025. Cash on hand was $102,008.73 and investments totaled $76,890, for combined cash and investments of $179,007.64; encumbrances were $94,008.36.
Gunter said liability insurance costs were increased by 10% across all funds. He also reported electric-service expenses rose by roughly $17,300 compared with the prior year; of that increase, $14,760 related to the 2023 accounting period. The staff presentation noted that 2025 figures are on a cash basis while 2024 figures are on a modified-accrual basis and that the authority plans to complete its 2024 audit and move prior-year expenses into the correct year.
At the start of the meeting the presiding officer asked for a motion to approve the May 12 meeting memorandum; the motion was seconded and carried by voice vote. Later, after Gunter’s presentation, a board member moved to approve the April financial report; the motion was seconded and carried by voice vote.
No old business or new business items were raised during the meeting. The authority did not specify additional follow-up dates or reporting requirements during the session; staff indicated the 2024 audit process will trigger accounting adjustments once complete.
