Q4 2021 Report Master File

Prudent budgeting and careful cost management has positioned the Port well for 2021 despite the major disruption caused by the pandemic. Federal relief funds have improved the financial outlook of the airport and allowed the Port to reduce concessions billings and airlines rates and charges. While the revenue from most lines of businesses came in below budget, both Public Parking and Rental Cars performed well above budget. Through collaboration with the cruise lines, health officials, and timely congressional action, the Port successfully and safely hosted 82 cruise ship calls with approximately 229,000 revenue passengers between July and October which was higher than expected. Grain volumes also exceeded budget due to increased demand for corn, soybeans, and sorghum. Resumption of activity in fishing and commercial operations increased revenue which was offset by lower revenues in Conference & Event Centers due to event cancellations. The Port received a $57.7M state Pension Credit, which drives the operating expenses significantly under budget. Without the Pension Credit, which is non-cash, operating expenses were just $1.0M under budget. PORTWIDE FINANCIAL SUMMARY

Open full document

Upcoming Events

PSCAA Advisory Council Meeting Agenda
Add to CalendarMWednesday Mar 11, 9:00am - 11:35am
1904 3rd Avenue, Suite 105, Seattle, WA 98101
Call to order – Roll Call – Quorum Established – Land Acknowledgement We would like to acknowledge that our Agency operates in four present-day counties, which are the traditional lands of the Coast Salish people, past and present. This acknowledgement does not take the place of authentic relationships with indigenous communities in our jurisdiction and [...]