Positive Port Audit
POSITIVE PORT AUDIT
The Port of Lewiston Commission recently approved the June 30, 2014 fiscal audit. Commissioners are pleased to report the Port had a positive bottom line with a strong boost in net position of $2.1 million or +10%. Net position is the difference between assets and liabilities and an indicator of the long-term financial health of the Port.
Each year the Port invests in local economic development. In FY-14, the Port invested $3.5 million which includes $466,000 from property tax revenue. The average Lewiston homeowner pays approximately $16.00 annually in property taxes to the Port for economic development activities. This year funding supported a broad range of economic development activities including completion of the dock extension, business and industrial parks development and beginning work on the fiber optic project.
Port investments create a clear $1.00 = $8.80 return on investment in Nez Perce County: growing the tax base and diversifying the local economy. For example, over 1,800 direct jobs are associated with properties owned or developed by the Port of Lewiston.
While in the short-term, management/labor issues at the Port of Portland are negatively impacting container volume at the Port of Lewiston, we are working hard to diversify cargos, improve container on rail options and expand the customer base. The long-term forecast looks strong.
The FY-14 audit is posted on the Port’s web site at: www.portoflewiston.com >About Us > Budgets/Audits. We encourage taxpayers, citizens and customers to review the audit report for a thorough picture of the Port’s financial position.
Port Commission President
Port of Lewiston
1626 6th Ave. N.
Lewiston, ID 83501