Business

Port of Kennewick's net assets increase

The Port of Kennewick's net assets increased by more than $1.6 million in 2009, bringing up the value of total net assets to about $46.8 million.

That was one of the highlights of the port's annual financial report presented Tuesday to the commission.

The port's overall operating revenues decreased by a little more than $87,000, or 8 percent, from 2008 and expenditures increased by $532,000, or about 21 percent, in 2009. The increase stemmed from depreciation expense, the purchase of several properties and the rising cost of health care and insurance.

The total noncapital expenses were 4 percent under budget because of cost controls, officials said.

For more information, call the port's director of finance/auditor at 586-7978.

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