Port of Vancouver USA sets $83.2 million budget for 2007

Port of Vancouver USA sets $83.2 million budget for 2007 The Port of Vancouver, USA, board of commissioners have approved a $83.2 million budget for 2007 which includes $26.6 million to provide for expansion projects including new rail lines.
   In the 2007 final budget, projected revenue at the Washington port includes $23.3 million from operations, $14.3 million from the issuance of general obligation bonds, $8.9 million from the tax levy and $7.6 million in other non-operating revenue. The budget also includes a beginning cash balance of $29.1 million.
   The port's operating expenses are projected at $17.5 million, payment of debt service at $4.3 million, capital projects at $26.6 million, and $6.1 million in non-operating expenses and environmental remediation costs. The budget includes a projected ending cash balance of $28.7 million including designated and restricted funds and reserves.
   More than 70 percent of the 5 million metric tons of cargo that moves through the port each year is transported by rail, and the capital improvements include design plans and the initial phase of construction for new rail lines accessing the port from the BNSF railway.
   Additional funds have been allocated for completion of an addition to the port's administrative office building, annual maintenance projects, continuing environmental clean up projects and security improvements.