TagBudget(119)
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2024-11-19Port Of Seattle Commission Passes 2025 Budget
The Port of Seattle Commission approved its 2025 budget and five-year Capital Improvement Plan on November 19, 2024, outlining $1.1 billion in operating revenues and $678 million in operating expenses, alongside a $5.6 billion capital investment plan through 2029. The plan prioritizes infrastructure upgrades at Seattle-Tacoma International Airport (SEA), maritime facilities, and sustainability initiatives including waterfront electrification and alternative fuels. Additional commitments include community equity programs, workforce development, and efforts to reduce environmental impacts on surrounding communities. -
2024-11-19Port Of Seattle Commission passes 2025 budget
The Port of Seattle Commission approved its 2025 budget on November 19, 2024, featuring $1.1 billion in operating revenues and a five-year, $5.6 billion capital improvement plan focused on airport and maritime infrastructure. The budget prioritizes investments in SEA Airport facilities, workforce development, sustainability initiatives such as waterfront electrification and alternative fuels, and community equity programs including an expanded South King County Community Impact Fund. While the document centers on broad Port operations and capital planning, it reflects the Port's commitment to reducing environmental impacts on surrounding communities amid record passenger growth at Seattle-Tacoma International Airport. -
2024-11-12Port Of Seattle Environment & Sustainability Center of Expertise 2025 Budget Overview — Slide 171 (November 12, 2024 RM Packet)
A budget overview slide showing the Port's Environment and Sustainability Center of Expertise 2025 budget totaling $22.7M, broken down by category including Permitting/Compliance/Habitat (39%), Climate & Sustainability (23%), Stormwater (16%), Aviation Noise (14%), and Maritime Remediation (8%), with separate breakdowns for Maritime E&S and Aviation E&S divisions. Aviation E&S includes a Noise budget line of $3.3M, relevant to Sea-Tac Airport noise policy. -
2024-10-22Tax Levy Use Forecast 2025–2029 — Stacked Bar Chart of Levy Uses (Page 12)
A budget presentation slide titled 'Tax Levy Use Forecast 2025-2029' showing a stacked bar chart of levy uses totaling approximately $566 million, broken down into G.O. Debt Service ($238M), Environmental Liability Expenses ($199M), Community Programs ($73M), Transportation & Infrastructure ($28M), Capital ($25M), and Public Expense ($3M). The slide notes no surplus tax levy funds are expected over the next five years and that $127M in new G.O. bonds will fund capital investments, with significant additional environmental expenses expected beyond 2029. -
2024-10-22Port Of Seattle 2025 Community Program Budget Breakdown — $20.7M by Activity Area (Page 33)
A presentation slide showing the 2025 Port of Seattle Community Program budget of $20.7M broken down by four activity areas: Economic Development ($7.4M, 35.7%), Equity, Diversity & Inclusion ($6.5M, 31.4%), Workforce Development ($5.4M, 26.1%), and SeaTac Community Relief ($1.4M, 6.8%). The slide itemizes sub-programs including Tourism Marketing Support, Diversity in Contracting, South King County Community Impact Fund (SKCCIF), OEDI Department, and Duwamish Community Equity Program (DVCEP), among others. -
2024-10-22Port Of Seattle 2025 Community Programs Budget Table — Draft Plan of Finance Property Tax Levy (Page 34)
A budget table from the Port of Seattle presenting 2025 Community Programs funding as of September 2024, showing 19 line-item programs with budgets from 2022–2025. The Grand Total proposed 2025 budget is $19,621,000, with $12,334,000 (63%) funded by the levy; programs include the South King County Community Impact Fund, Duwamish Valley Community Equity Program, Workforce Development, and others related to Sea-Tac Airport operations. -
2024-10-22Port Of Seattle 2025–2029 Tax Levy Fund Sources and Uses Summary — Page 32
A budget presentation slide detailing the Port of Seattle's 2025-2029 Tax Levy Fund sources ($496.6 million total, including $38.2 million prior year balance and $458.4 million projected collection) and uses ($495.7 million total, including G.O. bond debt service, environmental remediation liability, and community programs), with a projected ending 2029 levy fund balance of $0.9 million. Key assumptions include maintaining the levy at 75% of maximum allowable and using existing and new G.O. bonds to fund approximately $312 million in Seaport capital investments. -
2024-10-22Draft Plan of Finance 2025-2029 and Tax Levy Briefing
The Port of Seattle Commission reviewed a briefing on its proposed 2025 tax levy and five-year financial plan for 2025–2029. The 2025 property tax levy is proposed at $88.39 million, a 2% increase over the 2024 levy of $86.66 million, set at 75% of the maximum allowed under Washington State law. The Draft Plan of Finance outlines how the Port will fund capital investments across its Airport, Maritime, and Economic Development divisions over the coming five years. -
2024-10-08Sea-Tac Airport Aviation and Marina Budget Cash Flow Forecast 2025–2029
A financial forecast table for Seattle-Tacoma International Airport covering budget year 2025 and forecast years 2026–2029, showing aeronautical and non-aeronautical revenues, operating expenses, debt service, and net cash flow figures in thousands of dollars. Key notes indicate the aeronautical revenue methodology is based on the Signatory Lease Operating Agreement (SLOA) IV expiring 12/31/2024, and average annual net debt service is projected to grow by 20% due to capital expenditure growth. -
2024-10-082025 Aviation Division operating and CIP budgets briefing
On October 8, 2024, the Port of Seattle Commission held a special study session at Seattle-Tacoma International Airport to review the Aviation Division's preliminary 2025 operating and capital budgets, presented by Aviation Managing Director Lance Lyttle and Finance Director Hiedi Popochock. The briefing was part of a series of budget discussions that began in June 2024, with formal Commission approval of the 2025 budget planned for November. The session also included a review of the Maritime Division's operating and capital budgets.