Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting when they
become a demand on currently available financial resources. The Port’s summary of significant
accounting policies is presented in Note 1 in the basic financial statements.
Note 1 – Summary of Significant Accounting Policies
Reporting entity – The Oregon International Port of Coos Bay (Port) is organized under the laws
pertaining to port districts in the State of Oregon and Oregon Senate Bill 962, which became effective
January 1, 1988. The Port has a five-person Board of Commissioners with the members being appointed
by the Governor of the State of Oregon. The Governor also designates the President of the Commission
who is the presiding officer. The President in turn designates the officers of the Commission.
The Port is involved in a wide variety of transportation-related activities in southwestern Oregon. The Port
owns and operates the Charleston Marina Complex – Marina & Launch Ramp, RV Park, and Shipyard –
which serves the commercial fishing and seafood processing industry, as well as the recreational boating,
fishing, and coastal tourism sector. Additionally, the Port owns the Coos Bay rail line and related rail
infrastructure in three southwestern Oregon Counties: Coos, western Douglas, and western Lane. The
line was operated by an experienced private-sector short line railroad operating company under contract
with the Port until October 31, 2018. As of May 23, 2018, the Port created Coos Bay Rail Line, Inc., and
they took over operations of the line as of November 1, 2018. The Port owns and is involved in the
long-term development of industrial and marine industrial property in the North Bay Marine Industrial Park
on the North Spit of lower Coos Bay, and maintains ownership of property in upper Coos Bay on the
North Bend and Coos Bay waterfronts. The Port also serves as the non-federal local sponsor of the
federally-authorized navigation system serving Charleston and the Coos Bay harbor.
The accompanying financial statements include the Port and its component unit, collectively referred to as
the financial reporting entity. In accordance with Governmental Accounting Standards Board (GASB)
Statement Number 14, as amended by GASB Statement 39, GASB Statement 61, and GASB
Statement 80, the component unit discussed below has been included in the Port’s reporting entity
because of the significance of their operational or financial relationship with the Port.
De Minimis Rate Used: N
Rate Explanation: The Port has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity
of all federal grant activity of the Port under programs of the federal government for the year ended
June 30, 2024. The information in this schedule is presented in accordance with the requirements of
Uniform Guidance. Because the Schedule presents only a selected portion of the operation of the
Port, it is not intended to and does not present the financial position, changes in net position, or cash
flows of the Port. The Port received federal awards directly from federal agencies.
Title: Summary of significant accounting policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting when they
become a demand on currently available financial resources. The Port’s summary of significant
accounting policies is presented in Note 1 in the basic financial statements.
Note 1 – Summary of Significant Accounting Policies
Reporting entity – The Oregon International Port of Coos Bay (Port) is organized under the laws
pertaining to port districts in the State of Oregon and Oregon Senate Bill 962, which became effective
January 1, 1988. The Port has a five-person Board of Commissioners with the members being appointed
by the Governor of the State of Oregon. The Governor also designates the President of the Commission
who is the presiding officer. The President in turn designates the officers of the Commission.
The Port is involved in a wide variety of transportation-related activities in southwestern Oregon. The Port
owns and operates the Charleston Marina Complex – Marina & Launch Ramp, RV Park, and Shipyard –
which serves the commercial fishing and seafood processing industry, as well as the recreational boating,
fishing, and coastal tourism sector. Additionally, the Port owns the Coos Bay rail line and related rail
infrastructure in three southwestern Oregon Counties: Coos, western Douglas, and western Lane. The
line was operated by an experienced private-sector short line railroad operating company under contract
with the Port until October 31, 2018. As of May 23, 2018, the Port created Coos Bay Rail Line, Inc., and
they took over operations of the line as of November 1, 2018. The Port owns and is involved in the
long-term development of industrial and marine industrial property in the North Bay Marine Industrial Park
on the North Spit of lower Coos Bay, and maintains ownership of property in upper Coos Bay on the
North Bend and Coos Bay waterfronts. The Port also serves as the non-federal local sponsor of the
federally-authorized navigation system serving Charleston and the Coos Bay harbor.
The accompanying financial statements include the Port and its component unit, collectively referred to as
the financial reporting entity. In accordance with Governmental Accounting Standards Board (GASB)
Statement Number 14, as amended by GASB Statement 39, GASB Statement 61, and GASB
Statement 80, the component unit discussed below has been included in the Port’s reporting entity
because of the significance of their operational or financial relationship with the Port.
De Minimis Rate Used: N
Rate Explanation: The Port has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting when they
become a demand on currently available financial resources. The Port’s summary of significant
accounting policies is presented in Note 1 in the basic financial statements.
Title: Indirect cost rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting when they
become a demand on currently available financial resources. The Port’s summary of significant
accounting policies is presented in Note 1 in the basic financial statements.
Note 1 – Summary of Significant Accounting Policies
Reporting entity – The Oregon International Port of Coos Bay (Port) is organized under the laws
pertaining to port districts in the State of Oregon and Oregon Senate Bill 962, which became effective
January 1, 1988. The Port has a five-person Board of Commissioners with the members being appointed
by the Governor of the State of Oregon. The Governor also designates the President of the Commission
who is the presiding officer. The President in turn designates the officers of the Commission.
The Port is involved in a wide variety of transportation-related activities in southwestern Oregon. The Port
owns and operates the Charleston Marina Complex – Marina & Launch Ramp, RV Park, and Shipyard –
which serves the commercial fishing and seafood processing industry, as well as the recreational boating,
fishing, and coastal tourism sector. Additionally, the Port owns the Coos Bay rail line and related rail
infrastructure in three southwestern Oregon Counties: Coos, western Douglas, and western Lane. The
line was operated by an experienced private-sector short line railroad operating company under contract
with the Port until October 31, 2018. As of May 23, 2018, the Port created Coos Bay Rail Line, Inc., and
they took over operations of the line as of November 1, 2018. The Port owns and is involved in the
long-term development of industrial and marine industrial property in the North Bay Marine Industrial Park
on the North Spit of lower Coos Bay, and maintains ownership of property in upper Coos Bay on the
North Bend and Coos Bay waterfronts. The Port also serves as the non-federal local sponsor of the
federally-authorized navigation system serving Charleston and the Coos Bay harbor.
The accompanying financial statements include the Port and its component unit, collectively referred to as
the financial reporting entity. In accordance with Governmental Accounting Standards Board (GASB)
Statement Number 14, as amended by GASB Statement 39, GASB Statement 61, and GASB
Statement 80, the component unit discussed below has been included in the Port’s reporting entity
because of the significance of their operational or financial relationship with the Port.
De Minimis Rate Used: N
Rate Explanation: The Port has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The Port has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.