Finance: Houston
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Houston Port Commission Approves 2016 Port Authority Budget
The Port of Houston Authority’s fiscal year 2016 operating and capital budget was approved Tuesday, November 17, during a special meeting of the port commission.
Solid financial performance is expected to continue in 2016 with projections by the port authority of revenue growth after a very strong fiscal 2015 in terms of cargo tonnage. Total revenues are projected to increase by 2 percent next year to nearly $301.5 million.
Cash flow generated in 2016 will help support a capital improvement program of $314 million that includes strategic projects to support new growth opportunities, along with recapitalization projects and channel projects to benefit the entire Houston Ship Channel.
The Port of Houston Authority’s fiscal year 2016 operating and capital budget was approved Tuesday, November 17, during a special meeting of the port commission.
Solid financial performance is expected to continue in 2016 with projections by the port authority of revenue growth after a very strong fiscal 2015 in terms of cargo tonnage. Total revenues are projected to increase by 2 percent next year to nearly $301.5 million.
Cash flow generated in 2016 will help support a capital improvement program of $314 million that includes strategic projects to support new growth opportunities, along with recapitalization projects and channel projects to benefit the entire Houston Ship Channel.
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