U.S. Vancouver port receives clean bill of financial health
The Washington State Auditor's Office has given the Port of Vancouver a clean bill of health.
The audit, required annually under state law, examined the port's financial areas, legal compliance and internal controls before issuing two reports that found the port to be in full compliance with state laws and the port's own internal policies.
The review of the port's finances examined revenues, expenditures, long-term debt, and cash and investments, as well as the overall presentation of the port's financial statements. Auditors also evaluated the port's accountability for managing public resources in the areas of lease/property revenues, billings and account receivables, payroll benefits, and travel.
Port officials reported $41.7 million in revenue for fiscal 2006, with $40.1 million in expenses. Total assets increased to $136 million, up 1.3 percent over the 2005 fiscal year.
U.S. Vancouver port receives clean bill of financial health
