Audit gives good marks to port

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News,Business

LAKE CHARLES, La. (AP) — The Port of Lake Charles ' financial statements have received a clean audit for 2013 by a private accounting firm.

The American Press reported (http://bit.ly/1eOXZNb) the findings were presented this past week to the port's audit committee.

A representative of auditors McElroy, Quirk and Burch says the port received the highest opinion possible.

The audit found assets of the district exceeded its liabilities as of the end of 2013 by $306.1 million.

According to the report, the port achieved operating revenue of $33.2 million during 2013, a drop of $400,000, or 1 percent, from 2012.

Operating expenses were $34.3 million, up $3.6 million, or 12 percent, from a year earlier.

Citgo and Pinnacle were the Port's biggest customers in 2013 based on revenue.

Port director of administration and finance Richert Self said the audit reflects the port's sound financial condition.

The audit will be presented to the full port board when it meets on June 30.

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Information from: American Press, http://www.americanpress.com

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