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Port Authority of Evansville adopts capital assets policy, accepts financial report and pays routine vouchers
Summary
At its Oct. 7 meeting, the Port Authority of Evansville approved a board-reviewed capital assets policy, accepted a financial report showing lower revenue versus last year and authorized payment of listed vendor invoices; no contested votes were recorded and the meeting adjourned the same day.
The Port Authority of Evansville on Oct. 7 approved a capital assets policy, accepted a financial report showing revenues down from a year earlier, and authorized payment of routine vendor invoices before adjourning.
The presiding officer called the meeting to order and the board first approved the meeting memorandum dated Sept. 9, 2024, by voice vote. The board then moved to consider a capital assets policy that the board had previously reviewed; after a motion and second the presiding officer said the motion carried and the policy was accepted.
Mr. Gunter presented the financial report comparing results as of Sept. 30 with the prior year. "Total revenue is $102,000, compared to $282,000 last year," he said, and noted that a $200,000 reimbursement from the casino last year — earmarked for a dredging project — was not available this year. Mr. Gunter reported a month-end cash balance of $71,741.94 and said the port authority uses transfers from the parks fund when it needs cash to pay bills.
Board members asked about retainage for the dredging work and outstanding billings; Mr. Gunter and another speaker said one more billing remained and confirmed that the parks fund had been budgeted to reimburse the port authority $145,000 per year. After discussion, the board moved to accept the financial report; a motion and second were recorded and the presiding officer announced the motion carried.
The presiding officer then read the accounts payable voucher register. Listed invoices included BFI Waste Services of Indiana, $375 for monthly trash service; two City of Evansville entries, $18,343.75 for a fourth-quarter liability insurance invoice and $500 for legal services; Evansville Water Works, $980.79 for service at 610 NW Riverside Drive; and Southern Indiana Gas and Electric Company, $3,545.63 and $125.91 for utility service at two locations. A motion to accept the vouchers as read was seconded and approved by voice vote.
The presiding officer asked for a motion to adjourn; the motion was seconded, approved by voice vote and the meeting was declared adjourned.
What this means: the board made routine approvals on policy, finances and vendor payments; the financial report highlighted lower revenues compared with the prior year and reliance on a parks fund transfer to cover cash needs. No contested or roll-call votes were recorded in the transcript.
Next steps: no future action items or hearings were announced on the record at this meeting. The board adjourned at the close of its Oct. 7 agenda.
