(The Center Square) – The Caddo-Bossier Port Commission ended its fiscal year with nearly $92 million in cash and an $8.2 million increase in net position, then received another $8 million from state lawmakers to buy additional land according to an audit.
It remains unclear where the port intends to purchase the land. The organization’s executive director, Eric England, did not return The Center Square’s telephone call seeking comment.
The organization is a public port authority and political subdivision of the state that oversees facilities in Caddo and Bossier parishes, created to promote commerce, economic development, transportation and industrial growth, a state document said.
According to the Louisiana Legislative audit, the port’s equity increased by $8.2 million from contributed capital of $2.6 million and an increase in net income of $5.6 million. The port’s overall net position increased from $195.3 million to $203.5 million, a 4.2% gain.
The Louisiana Department of Transportation and Development was the largest grantor of contributed capital last year.
The audit said that net income was driven by four revenue source increases: lease rental income was up $3.9 million; oil and gas royalty income $1.8 million; ad valorem taxes $872,000; and port operations $525,000.
Both lease rental and oil and gas income more than doubled.
The Port generates revenue from property taxes collected based on assessed value, or ad valorem, which increased by nearly 11%, from $8.03 million to $8.90 million. Its cash position grew to $91.6 million, while debt dipped from 95.5 million to 91.6 million.
The audit also says the port has plans for various projects in 2026, with a projected cost of $20.4 million: road construction and road repair, rail service lines, general cargo dock and concrete rehab, bridge construction, fire station improvements, purchase of fire truck, purchase of front-end loader, master plan update and GIS mapping.
