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Posted on Sep 9, 2017

Port of Quincy gets thumbs-up in financial audit

The Port of Quincy has passed an audit by the state of Washington covering 2016, a year in which the port reversed a decline in operating revenue from the previous year.
Darci Kleyn, the port’s comptroller, said the port got “a clean audit opinion,” meaning, no issues came up in the report from the Office of the Washington State Auditor.
All three port commissioners were present at the meeting of the board on Aug. 23. Commissioners voted unanimously in favor of selling 5.8 acres in Industrial Park 5 to Ancient Lake Wine Co., a growing business in the park, which is a development by the Port of Quincy in George. A price and terms of the sale were not determined.
The meeting was to be continued the next day to award a contract for construction of a road in Industrial Park 5, which is between State Route 281 and Beverly Burke Road N. The road is planned to extend into the park from Beverly Burke Road N. The contract went to Total Site Services LLC, of Richland.
Commissioners also discussed progress in preparing for negotiations with the city of Quincy for a deal to transfer the city’s industrial wastewater system to the port. Some early discussions with city officials were outlined, covering potential terms, costs and legal considerations of a deal.
Nick Parker, project manager for the port, reported on progress on preliminary development concepts for a sporting clays course on the Bishop property. Parker said a visiting consultant liked what he saw of the property, which is along Ancient Lake Road NW, near the Columbia River. The consultant was brought in to help develop ideas for the design of the course.
Parker said there is a chance of getting a grant to build the clays course, but it could take three years to get the money through the grant program in mind.
In other port business, commissioners approved the purchase of a trailer to haul equipment. Before the vote, Commissioner Curt Morris asked whether the trailer were a purchase that could be put off, but others said that the trailer identified has been needed for a long time – it could have been used a dozen times this year already, Parker said.
Commissioners also approved paying for three courses of professional education for the port staff.
The port passed the latest audit by the state, giving the public assurance that the port is reporting financial information correctly.
Every year, a financial audit is done, and the latest one, for 2016, appeared in an Aug. 21 report by the State Auditor’s Office. Kleyn said the port has received clean audit opinions for the past several years.
The Aug. 21 report shows the Port of Quincy’s capital assets rose from 2015, and so did its long-term liabilities.
Also seen in the report:
• “The Port is well under its authorized debt capacity and is current on all debt. Risk, in regard to financial condition, is being managed accordingly.”
• “The Port’s overall operating revenues increased by $41,926 for 2016 compared to a decrease of $553,995 for 2015.”

By Dave Burgess, qvpreditor@gmail.com

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