Port gets clean audit report; assets increase
West St. Mary Port commissioners received a clean, unqualified 2011 audit opinion Tuesday.
Alan Taylor, CPA with Kolder, Champagne, Slaven & Co., presented a brief audit report to the commission.
Taylor demonstrated that the port’s total net assets of $15.02 million continues a steady increase over the years in port assets.
That number was $14.63 million in 2010, $14.44 million in 2009 and $11.98 million in 2008.
Also Tuesday, the commission authorized Executive Director David Allain and legal counsel Eric Duplantis to work out terms with Marine Turbine Technologies regarding the “escalating clause” of the company’s lease.
Every five years, the firm’s lease increases by a certain percentage, resulting in an approximately $1,200 increase per month this time around.
But MTT has recently completed some $300,000 to $400,000 in improvements to the property they lease from the port and asked for relief from that clause.
The commission also voted to expand its agenda and approved a resolution of support for a certain option regarding construction of the overpass at La. 318 and U.S. 90 at Sorrell.
The commission voted to support “Alternative B” which would be the overpass on U.S. 90 over La. 318. “Alternative D” was a proposal to raise La. 318 over U.S. 90.