Port of Skagit Approves 2015 Budget
- Business & Finance
The Port of Skagit will focus next year on economic development initiatives aimed at bringing good jobs to the Skagit Valley while investing in infrastructure improvements on its own properties, as outlined in the 2015 operating and capital budgets approved by the port commissioners on November 18.
The 2015 operating budget foresees operating revenues growing 2.92 percent from 2014, to $5.26 million, and expenses growing 2.9 percent, to $4.8 million.
As in 2014, the port plans slight increases in moorage rates at the La Conner Marina and rental rates at Skagit Regional Airport to keep up with current market conditions. In addition, strong occupancy rates at the port’s facilities will contribute to the improved revenues.
“Keeping revenue ahead of expenses is a good thing,” said Commissioner Steven Omdal, president of the port commission. “We are making money and using it to do good work.”
The port’s 2014 capital budget totals $6.595 million, nearly double last year’s total. Major projects include grading the Runway Safety Area at the west end of Runway 11-29 at Skagit Regional Airport and dredging the La Conner Marina’s south boat basin.