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Port of Lake Charles board adopts 2025 budget and $156 million capital program
Summary
The Port of Lake Charles board approved the port’s 2025 operating, non‑operating and capital budget, including roughly $156 million in capital projects for 2025 and a port-funded portion of about $73 million; staff said the budget projects a modest net income and healthy cash flow.
The Port of Lake Charles Harbor & Terminal District approved its 2025 operating, non‑operating and capital budget at its Dec. 16 meeting, adopting a capital program that staff said will total roughly $156 million in projects in 2025 and about $580 million through 2029.
Cameron Kelly, the port finance presenter, told commissioners the budget projects a slight increase in tonnage to about 17.9 million in 2025, a roughly $2.2 million change related to rental and other revenue shifts, and an expected operating expense decrease of about $700,000. "We do expect a positive net income, almost a million dollars in positive net income, and a very healthy cash flow of around 16,300,000," Kelly said.
Kelly outlined the capital program and funding profile: the port expects to spend approximately $156 million on capital projects in 2025, with the port’s own share at about $73,000,000. He said ongoing projects already accounted for $195 million in prior‑year spending and that future years (2026–2029) add up to roughly $225 million. Kelly also noted depreciation costs will rise as projects are completed and put into service.
The board approved the budget by motion following the presentation. Commissioners also approved a related cash‑management action earlier in the meeting to move $10,000,000 from a restricted claim‑settlement fund to the unrestricted fund; staff said the transfer was intended to avoid near‑term borrowing and interest costs and would leave about $3.1 million restricted.
Kelly and other staff highlighted recent FEMA reimbursements tied to hurricane recovery and capital work. Kelly reported the port had received $5.5 million since the last meeting and another $5.7 million afterward, totaling more than $11 million in recent weeks, which staff said supports the capital program and cash flow outlook.
The budget adoption was recorded as approved in the meeting record; the transcript shows one voiced "objection" but closes with the chair announcing the item will pass. The board did not record a roll‑call vote or individual tallies in the transcript.
The port staff said next steps include continuing capital project execution and monitoring short‑term borrowing needs. The budget documents and individual project pages were included in the board packet for commissioners.
