Capital Improvement Program

The Port’s Capital Improvement Program is essentially a forecasted plan for capital expenditures to be incurred in the upcoming fiscal year. These expenditures are broken out into individual projects. Each project specifies the project’s budgeted cost, a description and justification for the project, and a project
timeline.

All Capital Improvement projects are funded through tax levy revenues. See more information on the financial page. There are also times when projects are funded partially from state and/or federal grants. In 2009, the Port will receive approximately $2,187,000 in tax levy revenue. $850,000 of this revenue goes towards paying off bond debt. The remainder of the revenue is used for capital improvement projects. It is common for the Port to not spend all tax levy revenues received during that fiscal year. Those monies are then set into an Unrestricted Reserve account to be used in future years for capital improvement projects.

Below is a trend chart demonstrating tax levy revenues the Port has received over the last ten years.

Tax Levy Revenue – 10 Year Trend

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