Rick Nance

The board meeting included the approval of the March financial report. Additionally, the commission adopted Resolution No. 5 of 2026, which recognizes National Maritime Day. The Port Director provided updates on operational activities, projects, capital outlay payments, and potential adjustments to the management of capital reserve and economic development reserve bank accounts.

The committee reviewed the 2025 draft audit and the Agreed-Upon Procedures report presented by the audit firm. The audit yielded a clean, unmodified opinion with no material weaknesses, significant deficiencies, or non-compliance noted. Discussions focused on the Port's strengthened financial position, including increased net position and operating revenues, as well as capital infrastructure investments and debt management. The audit findings and reports were approved to be placed on the upcoming board agenda for formal adoption.

The board meeting agenda includes the review of the 2025 audit and agreed-upon procedures prepared by Heard, McElroy, & Vestal. Additionally, the commission will conduct the selection of its 2026 official journal and receive the Port Director's report.

The Board approved the financial report for February 2026. Legislative and procedural actions included the adoption of an ordinance to levy an ad valorem tax for 2026 and the approval of a resolution to amend a prior bond resolution to utilize excess funds for a railroad project. The Commission also authorized the replacement of a trustee for the Sports South project taxable revenue bonds and declared specific stevedoring equipment and supplies as surplus property. Additionally, the Port Director provided updates on recent activities and legislative committee meetings.

The board reviewed and approved the financial report for January 2026. The Port Director provided updates on several initiatives, including the preparation of the 2025 audit, the current legislative session, the rescheduling of the 2026 Port Night, and an upcoming after-action meeting with the City of Shreveport regarding recent water pressure concerns.