Friday, November 17, 2017

Vancouver USA Adopts 2018 Budget

By Karen Robes Meeks

Harbor leaders for the Port of Vancouver USA this week adopted a $68.5 million fiscal plan for the upcoming year.

The 2018 budget is $16.7 million less than last year’s budget due to completion of much of the major parts of the West Vancouver Freight Access and Centennial Industrial Building projects.

About 22 percent of the port’s 2018 capital budget will go toward the completion of the West Vancouver Freight Access project, while nearly 36 percent is slated for port infrastructure and IT systems maintenance, and the remainder going toward waterfront, facility and terminal improvements.

The new budget also shows $38.22 million in operating revenues (a 3 percent increase from 2017), 70 percent of which is from marine, terminal and rail operations. The balance came from industrial property leases, rail and facilities, according to the port.