The Port of Beaumont Board of Commissioners today voted unanimously to approve the port’s FY2013 budget.

The budget includes projected revenues of approximately $11.8 million, with expenditures of approximately $6.8 million planned for the operation of the port for the fiscal year, leaving a surplus of $5,045,782. Following payments on the port’s bonded indebtedness; the estimated surplus will total $3.2 million, which will be placed in a fund for future capital improvements. 

The budget also includes a two-percent increase for port staff.

The board voted to approve a 2012 property tax rate of $0.0708 per $100 valuation.  The rate reflects a 0.7 percent reduction from the 2011 tax rate of $0.0713204 per $100 valuation.

“The port has reduced the tax rate in 11 out of the last 12 years, since the year 2000, and cumutavely that reduction represents a reduction of 28.3 percent,” Port Director Chris Fisher said. Listen

The board voted to approve a seven-year extension of the lease of a grain elevator with Louis Dreyfus Corporation – LD Commodities Beaumont Export Elevator LLC.  The lease, which was set to expire in 2018, will now continue through 2025.

The board voted to approve a flat rate contribution of 14 percent for the 2013 calendar year for the Texas County and District Retirement System for the port’s employees.

All items were approved.  All votes were unanimous with all members present.  Agenda