The budget
includes $34 million in total operating revenues, including $13.7 million in
marine operations. It also includes $19.3 million in non-operating revenues,
such as nearly $10 million in property taxes and $9.2 million in grant funding.
In all, the port estimates total revenue of $53.4 million, a
nine percent increase from this year’s expected $49 million.
Also projected for the year is $32.2 million in total
expenses. Of that $32 million, an estimated $25.2 million is earmarked for
operating expenses, including $5 million for facilities and between $1 million
and $2 million each for administrative costs, rail projects and security.
Non-operating expenses make up nearly $7 million of the
budget, including $5.6 million for debt service and about $924,000 for
environmental remediation.
Also during the meeting, the three-member commission voted
unanimously to not implement its annual one percent increase in the port’s
regular property tax levy, just as it did in 2012. The lack of an increase
means that an owner of a property with an assessed value of $250,000 can
continue to pay about $103 annually for the port’s share of property tax
collections.
According to the port, there are about 300,000 property
taxpayers within the 111-square-mile district.
