budget-chartsRevenues at the Port of Vancouver USA are climbing, so you can imagine how surprised we’ve been to hear rumors that we’re on a financial downslide. It’s simply not true, and for many more reasons than our expectation that we’ll have one of the best revenue years in our 103-year history. Here are three more excellent indications of our financial health.

  • Our profit margin – the amount of revenue we have left after paying our bills – is excellent, averaging about 30 percent. Simply put, we make a profit. And we reinvest those profits in roads, bridges, rail, docks, industrial property, and other projects that benefit our community.

  • We have clean financial audits from the state. Each year, the Washington State Auditor’s Office audits all public ports in Washington. They look at our internal controls, financial statements and grants. No issues of concern have been identified. For more on this, please review our most recent Accountability Audit Report and Financial Statements and Federal Single Audit Report.

  • Our credit ratings from Standard & Poor’s and Moody’s are excellent. These ratings reflect the ability of a corporation or government agency to meet its financial obligations in full and on time. S&P’s rates us at AA-, meaning that the port has a “very strong capacity to meet financial commitments.” Moody’s rates us at Aa3, meaning that our “obligations are judged to be of high quality and subject to very low risk.” 

Ports are critical to the economic health of communities and regions, and we take that responsibility very seriously. More than 2,300 people come to work on Port of Vancouver property every day. Each year, the port generates approximately $82 million in state and local taxes to support public services such as police, fire and schools. Being good financial stewards is both fundamental to how we do business and key to our long-term viability as an economic engine in Southwest Washington. 

We want to assure you that all is well here at the Port of Vancouver USA, and we look forward to another prosperous year in 2015.