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Report finds problems with Port of Longview’s financial tracking

The Columbian
Published: August 19, 2015, 5:00pm

Longview — A new report commissioned by the Port of Longview found glaring problems with how the port manages and tracks its finances, the Longview Daily News reported.

The 35-page report found that the port uses inefficient, antiquated methods of managing its finances; lacks sufficient financial leadership and communication among departments; and that port staff themselves do not trust the port’s current financial management system. The report doesn’t imply that the port lost money, but that its accounting controls are insufficient, the Daily News reported. The port commissioned the report as part of CEO Geir-Eilif Kalhagen’s effort to reshape the port since he started there three years ago.

Chicago-based Government Finance Officers Association conducted the study, interviewing current employees and comparing the port to industry standards and best practices.

Staff will work with consultants to create a system for tracking purchases, revise the port’s chart of accounts and improve monitoring of the life cycle of its assets, Kalhagen said. He also hopes to generate an annual report to better communicate the port’s finances and operations with the public, the newspaper said.

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