Grandview Port commissioners approve $1.2 million budget
October 02, 2012
GRANDVIEW - The Port of Grandview is ready for 2013, as last night, Monday, port commissioners approved a budget for next year totalling $1.2 million.
Only $152,200 of that is for day-to-day operating expenses in 2013, a drop of nearly 30 percent from the $210,350 budgeted for 2012.
Jim Sewell is one of three port commissioners, and he said the reduction in operating expenses is primarily due to fewer costs associated with engineering. That line-item will drop from $92,000 budgeted in 2012 to $50,000 for next year.
The rest of the overall figure is related to the port's capital budget, which is set for $1.05 million next year.
In related news last night, Port of Grandview commissioners agreed to a 1 percent increase in property tax levies for 2013, as authorized under state law. The move will net the port nearly $3,000 in additional revenues next year.
Also during last night's meeting, commissioners received a pleasant surprise when they learned the port's credit rating was given a AA- by Standard and Poor's. The port had anticipated an A- rating.
The improved standing means the Port of Grandview will have to pay less interest - probably around 2 or 3 percent - on a $900,000 bond it is preparing to replenish funds it used to purchase 18 acres near the corner of Stover and Wallace roads. The plan is to eventually sell the land for development.
The bond funds will also pay off the port's SIED loan that is being paid at just over 7 percent.
At its next meeting, Nov. 6, the Port of Grandview commissioners' agenda will include action on a policy regarding port use of cell phones and other electronic devices.