The budget includes operating revenues of about $1.24 million and operating expenditures of about $5.83 million for the fiscal year, which began July 1 and will end June 30, 2012.
However, after adding in other revenues of $4.96 million and depreciation totals, the port will end the year with about a $1.11 million balance.
The port’s primary revenue is generated from leasing its facility, which will bring in about $1.12 million during the upcoming year. The funds come from leases with InterMoor, the U.S. Coast Guard and Cenac Offshore.
Its primary expenditures are projected to be in capital outlay improvements, which are forecast to be about $2.43 million. It also projects another $785,000 in equipment expenses and $650,000 in other capital outlay expenditures that will be used to install another National Oceanic and Atmospheric Administration meteorology station and other port improvements.
Projected funding for capital improvements this year, though, actually are down approximately $3.11 million from this past year, while other unspecified capital outlay expenditures are up $647,563.
Its other revenues include $1.3 million in property tax collections, about $1.6 million in Port Priority Funding, $1.2 million in Economic Development Administration Funding and $737,284 in Port Security Grant funding.
The 2011-12 budget has $77,680 more in operating revenues than the 2010-11 budget, while the 2010-11 expenditures were about $1.21 million more than they are expected for this year.
Among the other changes from 2011 to 2012 include a $70,561 increase in charges for the facility’s monthly lease, $129,565 less in property tax collections and $672,884 more in funding from various sources.