December 31, 2021August 1, 2026

Annual comprehensive financial report: Port Of Seattle, as of December 31, 2021 and 2020, and for the years ended December 31, 2021, 2020, and 2019

The Port of Seattle's 2021 Annual Comprehensive Financial Report covers the port's financial activity as of and for the years ending December 31, 2021, 2020, and 2019. Prepared by the Port's Accounting and Financial Reporting Department, it includes audited financial statements, management's discussion and analysis, and supplementary pension and benefits information. While this report focuses on overall port finances rather than noise policy specifically, it provides financial context for Port operations including Seattle-Tacoma International Airport.

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The Port of Seattle’s Annual Comprehensive Financial Report covering fiscal years 2021, 2020, and 2019. The report includes financial statements for the Enterprise Fund and Warehousemen’s Pension Trust Fund, along with required supplementary information on pension liabilities, OPEB, and investment returns. It was prepared by the Port’s Accounting and Financial Reporting Department.

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As the source for federal transportation grants, the Puget Sound Regional Council was charged with developing a system to meet the growing need for commercial aviation. When the search for a second airport failed, they authorized the Port of Seattle to build the Third Runway, with a mandate to develop a noise abatement and mitigation program. In their effort to stop the Third Runway, the ACC argued over every detail of the Port's efforts--including property buyouts and sound insulation. The dispute was meant to be settled by a three member Expert Arbitration Panel. This is their final report. It finds 2-1, that the Port's program was insufficient in several respects. Despite that, funding for the Third Runway was approved by the PSRC, and the 'Port Package' program, proceeded largely unchanged. Expert Arbitration Panel's final decision finding that the Port of Seattle had not shown sufficient reduction in real on-the-ground noise impacts to satisfy noise reduction conditions required for approval of a third runway at Sea-Tac International Airport. The majority decision concluded the Port's noise abatement programs were insufficient despite being impressive in scope.

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