PROPOSED BUDGET

Transcription

1 PROPOSED BUDGET Possibility. In every direction.

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3 PORT OF PORTLAND BUDGET TABLE OF CONTENTS Page BUDGET SUMMARY EXECUTIVE DIRECTOR S MESSAGE...1 BUDGET OVERVIEW...2 PORT OF PORTLAND COMMISSIONERS/DIRECTORS...5 A LOOK AT THE PORT...6 HOW TO TRACE PORT DOLLARS...8 SUMMARY OF RESOURCES AND REQUIREMENTS...9 SUMMARY HIGHLIGHTS (BUDGET BASIS)...11 STATUTORY & OPERATING BUDGET CHARTS...13 FUND APPROPRIATIONS...15 BUDGETED CAPITAL SUMMARY YEAR FORECAST BY PROGRAM...17 SUMMARY OF OPERATING BUDGET BY DIVISION...19 GENERAL PORT OPERATIONS...20 GENERAL FUND...21 RESOURCES...22 REQUIREMENTS...24 MARINE & INDUSTRIAL DEVELOPMENT...25 REQUIREMENTS SUMMARY...28 PERSONAL SERVICES...29 MATERIALS AND SERVICES/REIMBURSEMENTS...31 GENERAL AVIATION...32 REQUIREMENTS SUMMARY...34 PERSONAL SERVICES...35 MATERIALS AND SERVICES/REIMBURSEMENTS...36 ENGINEERING...37 REQUIREMENTS SUMMARY...39 PERSONAL SERVICES...40 MATERIALS AND SERVICES/REIMBURSEMENTS...41 NAVIGATION...42 REQUIREMENTS SUMMARY...43 PERSONAL SERVICES...44 MATERIALS AND SERVICES/REIMBURSEMENTS...45 CORPORATE ADMINISTRATION...46 REQUIREMENTS SUMMARY...47 PERSONAL SERVICES...48 MATERIALS AND SERVICES/REIMBURSEMENTS...50 BOND CONSTRUCTION FUND...51 RESOURCES AND REQUIREMENTS...52 CAPITAL OUTLAY SUMMARY...53 CAPITAL OUTLAY BY PROJECT...54 Page AVIATION AIRPORT REVENUE FUND RESOURCES REQUIREMENTS REQUIREMENTS SUMMARY PERSONAL SERVICES MATERIALS AND SERVICES/REIMBURSEMENTS AIRPORT CONSTRUCTION FUND RESOURCES AND REQUIREMENTS CAPITAL OUTLAY SUMMARY CAPITAL OUTLAY BY PROJECT PFC (PASSENGER FACILITY CHARGE) FUND RESOURCES AND REQUIREMENTS AIRPORT REVENUE BOND FUND RESOURCES AND REQUIREMENTS DEBT SERVICE REQUIREMENTS PFC (PASSENGER FACILITY CHARGE) BOND FUND...81 RESOURCES AND REQUIREMENTS DEBT SERVICE REQUIREMENTS LOCAL BUDGET FORMS LOCAL BUDGET FORM 1 (Financial Summary- All Funds) LOCAL BUDGET FORM 2 (Funds Not Requiring A Property Tax To Be Levied) LOCAL BUDGET FORM 3 (Funds Requiring A Property Tax To Be Levied) APPENDIX INCOME STATEMENT HISTORY PROPERTY TAX LEVY AND COLLECTION ESTIMATES OTHER PAYROLL EXPENSE ESTIMATES PERSONAL SERVICES BUDGET GRADE COMPARISON INTERFUND TRANSFERS STATEMENT OF INDEBTEDNESS (Port of Portland Obligation) STATEMENT OF INDEBTEDNESS (Industrial Development Revenue Bond) PERSONAL SERVICES SUMMARY RISK MANAGEMENT INSURANCE PLAN GLOSSARY OF TERMS

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5 BUDGET SUMMARY

6 EXECUTIVE DIRECTOR S MESSAGE The Port of Portland's mission is to provide competitive cargo and passenger access to regional, national, and international markets while enhancing the region's economy and quality of life. In support of this mission, the Port annually undertakes budget and business planning to identify areas of focus and actions needed to address them. This budget document reflects how the Port will allocate resources in order to meet this vital mission. Specifically, this budget reflects ongoing investments in aviation, marine, rail, and industrial development necessary to provide competitive cargo and passenger access and takes the Port s recent successes and ongoing projects into account. For example: The budget demonstrates our continued investment in major infrastructure at our marine terminals, as well as in various other transportation infrastructures to increase freight mobility needs in the region. The next phases of the Columbia River Channel deepening project and various rail yard improvements will help local shippers and businesses remain competitive in a global environment. The budget also reflects our historic role in helping our region maintain a supply of land for industrial development. In the coming year we will not only move forward with development activities at the Troutdale Reynolds Industrial Park, but will also continue our work finding other sites that are appropriate for development to help meet the region s shipping and logistics needs. Finally, the budget reflects continued growth at Portland International Airport (PDX), specifically record high passenger levels resulting from additional domestic and international flights. In the coming year, construction will continue on the largest multi-year capital expansion program ever undertaken at PDX. This program includes such projects as: in-line baggage screening improvements which will replace the temporary screening process implemented in the ticket lobby after 9/11; a second parking garage with a new consolidated headquarters building on top, the first year of the north runway extension program the environmental assessment and final design, and the completion of the three year project to rehabilitate Taxiway T and the terminal apron. In addition, we will invest in our vital regional airports, such as Hillsboro and Troutdale Airports, to ensure that they continue to serve our region safely and efficiently. The allocation of resources in the Fiscal Year Budget will allow the Port to continue to facilitate a major portion of the region s air passenger and marine cargo movement, and thus meet its mission to support and sustain the region s economy, through current programs and the pursuit of new opportunities. All of this work will be accomplished through the hard work of a staff and Commission committed to the highest standards of customer service, environmental stewardship, and civic engagement. Bill Wyatt Executive Director 1

7 BUDGET OVERVIEW The Budget for Fiscal Year (FY) allocates resources to improve the long term competitive position of the Port of Portland and to promote the economic health of the region. This past year saw continued growth at Portland International Airport (PDX) and resulted in record high passenger levels. PDX was also recognized by Conde Nast Traveler magazine as the Best Airport in the U.S. for the second year in a row. With the new non-stop flights to Boston, Orlando, JFK New York, Mexico City, and Amsterdam, passenger growth at PDX is expected to continue in FY FY will also see the continuation of a multi-year process to update the Master Plan for PDX and opportunities to engage the public, airport users and other interested parties in the future of a facility that is a cornerstone of the region s economy. In addition, construction of a new parking garage, the new Port headquarters building, and the in-line baggage screening improvement process are all underway. These improvements will improve capacity, safety, and customer satisfaction. The budget for FY also reflects continued investment in our marine infrastructure to support the growing demands on our facilities, including Terminal 5 berth dock rehabilitation, improvements to the Ramsey Rail Yard, as well as rail expansion in South Rivergate. The rail improvements will help improve the flow of rail cars in and out of the busy industrial area, improving the competitiveness of businesses in the district. In addition, the President s budget includes a substantial increase in funding for the Columbia Improvement Project. For the next federal fiscal year, 36 million will be allocated to the deepening project. With this additional funding, the Army Corp of Engineers estimates the project will be completed by 2009, one year earlier than originally projected. Purchase of the Troutdale Reynolds Industrial Park provides the region and the Port with needed industrial land capacity. The Port is actively marketing the site and anticipates the closure of a large land sale in FY and another potential land sale in FY Major Assumptions Primary volume assumptions for FY compared to current year projections are as follows: PDX: Passenger volume growth expected to slow in FY to million passengers, up 2.5% from the current year projection of 14.8 million passengers The number of aircraft operations (takeoffs and landings) increasing by 0.5% to 266,325 Cargo volume increasing by 0.2% to 278,000 short tons Marine: Container volumes decreasing slightly from a projected 149,500 boxes to 144,100 boxes Automobile volumes decreasing from 460,000 units to 410,000 Breakbulk volumes increasing 2.5% to 1.1 million short tons Grain volumes increasing 13% to 4.2 million short tons Mineral Bulk increasing 17% to 5.9 million short tons 2

8 Capital Investments The Port s total capital expenditure program (including staff time) is estimated at 294 million; approximately 246 million is for improvements at PDX, while 48 million is targeted for Marine and Industrial Development, General Aviation, Navigation and other divisions. These amounts include projects which have been scoped and for which project plans have begun. Currently there are about 11 million of projects in the Airport Construction Fund and 24 million of projects in the Bond Construction Fund that have not been scoped nor formal project plans developed. Highlights of the primary capital expenditures at PDX include: million for the PDX parking garage expansion program (P2) and the new Port headquarters building 60.4 million for the first year of the PDX in-line bag screening improvement program This program will bring the EDS equipment in-line with the baggage system behind the ticket counters 15.2 million for the completion of the three year project to rehabilitate Taxiways and apron rehabilitation program 13 million Airport Way rehabilitation and widening 8.7 million north runway extension environmental assessment and construction 5.7 million PDX deicing system enhancements and long-term solution 2.4 million purchase of shuttle buses 1.5 million PDX parking lot landscaping 1.1 million PDX Terminal fire, life, safety system upgrades 1.0 million PDX terminal flight information and paging systems upgrade Proposed capital expenditures for the Port s Bond Construction Fund in FY include: 11.8 million for Troutdale Reynolds Industrial Park (TRIP) improvements 8.0 million for improvements to Ramsey Rail Yard 5.6 million for T5 berth dock rehabilitation 3.0 million for Hillsboro Airport runway improvements 3.1 million for the widening of North Lombard 3.0 million for GIS upgrade and enhancement 1.4 million for Troutdale Airport taxi-way improvements Operating Highlights Marine revenues are projected to increase 2.4% over the FY Adopted Budget. Increased volumes and associated vessel calls in Mineral bulk, Breakbulk, and Grain bulk are forecast to increase revenues 14%. The increase in other Marine business lines is projected to offset the FY forecast decrease in Marine Container revenue as a result of the departure of Zim American Integrated Shipping Services Company. Revenue from land sales is forecast to decrease from 16.3 million budgeted in FY , to 5.1 million in FY The FY revenue projection is based on the potential sale of smaller parcels in the Troutdale Reynolds Industrial Park. Overall General Fund revenues (less land sales) are expected to increase from the FY Adopted Budget of 62.8 million to 64.1 million in FY

9 General Fund Operating Expenditures (Personal Services and Materials and Services) are anticipated to decrease by 2.8% from million to million. The majority of the decrease is due to revised project timing for long-term environmental expenditures. General and Bond Construction Fund balances will need to be maintained at fairly high levels for a number of years to provide adequate resources for continued operations, the long term capital expenditures anticipated for Marine and rail infrastructure, and to meet the Port s obligations related to the clean up of Willamette Harbor in Portland. Portland International Airport is anticipating an increase of 4%, or 7.5 million, in operating revenue from the FY Adopted Budget compared to the FY Proposed Budget primarily due to an anticipated increase in parking, rental car, and concession revenues. PDX operating expenditures (Personal Services and Materials and Services) are anticipated to increase 7%, or 3.7 million, from Adopted Budget for FY to the FY Proposed Budget. Overall FTEs (Full Time Equivalents a measure of workforce size) are expected to increase from the FY Adopted Budget of 792 to 829 in FY primarily reflecting operational requirements and volume growth. Accounting Basis This Budget document illustrates the expected financial performance of the Port of Portland for the coming fiscal year if assumptions materialize as stated. In conformance with Oregon Revised Statutes, the Budget shows operations of the Port on a fund basis (Resources and Requirements). All Port Funds are budgeted for on an accrual basis except for certain accrued expenses including some environmental expenses which are budgeted on a working capital basis. The Port maintains, and continuously seeks to improve, a system of financial controls and processes which are in place to ensure the public of informed decision-making and fiscal accountability. Steven Schreiber Chief Financial Officer and Budget Officer 4

10 PORT OF PORTLAND COMMISSION Port of Portland Commissioners are appointed by the Governor of the State of Oregon and serve a four-year term. Judi Johansen President Mary Olson Vice President Steve Corey Secretary Bill Thorndike, Jr. Treasurer Ken Allen Commissioner Peter Bragdon Commissioner Diana Daggett Commissioner Bruce Holte Commissioner Paul Rosenbaum Commissioner PORT OF PORTLAND SENIOR MANAGEMENT The Port s senior management structure is shown below. Working in concert with, and under the policy direction of, the Board of Commissioners, the Port is a unique blend of government and private enterprise. Executive Director Bill Wyatt Executive Assistant Pam Thompson General Counsel Carla Kelley Operation Services Director and CFO Steven Schreiber Marine & Industrial Development Director Sam Ruda Aviation Director Mary Maxwell Human Resources Director Gail Woodworth Public Affairs Director Tom Imeson 5

11 A LOOK AT THE PORT OF PORTLAND Located in Portland, Oregon, the Port of Portland is the bridge that connects Oregon to the world. The Port manages marine and airport facilities that link to intermodal transportation systems connecting relatively isolated local markets with each other, the nation, and beyond. History The Port of Portland was created by the Oregon Legislature in 1891 to dredge a shipping channel from Portland 100 miles to the sea. Today, the Port is charged with promoting aviation, maritime, commercial and industrial interests within Clackamas, Multnomah, and Washington counties (including the City of Portland). The scope of Port services extends beyond this immediate metropolitan area to include farmers and other industries from inland regions of the Northwest. The Port is directed by a nine-member commission, whose members are appointed by the Governor of the State of Oregon and confirmed by the Oregon Senate. The Port s location at the confluence of two navigable rivers, two transcontinental railroads, and two interstate freeways has been a factor in the development of facilities and the commodities we ship. Portland s population size and economic history have dictated our export dominance in trade. It has also influenced the development of distribution facilities that serve markets beyond our geographic boundaries. Facilities and Services The Port owns four marine terminals, Oregon s primary commercial airport, three general aviation airports (Hillsboro, Troutdale and Mulino), and has developed seven commercial/industrial parks. It also owns and operates the dredge OREGON to help maintain the shipping channel on the lower Columbia River. Operating an award-winning, world-class airport allows cargo and passenger air carriers and a host of vendors to be successful in their businesses, and in turn, millions of passengers and tons of air cargo have ready access to destinations around the globe. Streamlined marine terminals and prime industrial properties offer shippers, ocean carriers and about 1,000 area businesses an opportunity to compete in international markets. The Port plays a major role in the region s economy. Based on the calendar year 2006 economic impact study update by the Port: More than 30,000 jobs, 1.75 billion in wages, salaries, and consumption impacts, and nearly 180 million in state and local taxes were generated by activities at the Port s marine and aviation facilities. More than 4 billion of business revenue was received by firms providing goods and services to support the activities at the marine terminals and airports. The Port generates nearly 8 in tax revenue for every 1 it collects in property taxes. Visitor industry impacts at Portland International add an additional 40,000 jobs, 1 million in personal income, and 1.7 billion in business revenue. 6

12 The Port s industrial and business parks are home to more than 300 firms, which generate 35,000 jobs and 180 million in state and local tax revenue across the region. 7

13 HOW TO TRACE PORT DOLLARS The financial structure of the Port is defined by certain dedicated funds that are restricted to certain purposes and/or supported by specific business activities. The Marine & Industrial, Navigation, Engineering and all Corporate Administration Divisions are accounted for in the General and Bond Construction Funds. The Aviation Division consists of Commercial (Portland International Airport) and General Aviation (Hillsboro, Troutdale and Mulino). General Aviation is accounted for in the General and Bond Construction Funds, while Commercial Aviation is accounted for entirely in the Airport Revenue, Airport Revenue Bond, Airport Construction and Passenger Facility Charge Funds. OPERATING DIVISIONS MARINE & INDUSTRIAL DEVELOPMENT NAVIGATION BUSINESS ENTERPRISES Marine Terminals & Industrial Parks Dredge Oregon OPERATING FUNDS General Bond Construction AVIATION General Aviation Portland International Airport Airport Funds: Revenue Construction Revenue Bond PFC (Passenger Facility Charge) Funds: PFC Fund PFC Bond Fund 8

14 SUMMARY OF RESOURCES AND REQUIREMENTS BY FUND OPERATING FUNDS BUDGET * TOTAL AIRPORT ALL FUNDS GENERAL REVENUE RESOURCES BEGINNING BALANCE 261,744,403 83,757,804 15,000,000 OPERATING REVENUE 267,033,506 85,316, ,716,659 GRANTS/INTEREST INCOME/OTHER 55,315,200 5,028,000 1,704,000 TAXES 8,615,578 8,615,578 0 BOND ISSUES 72,800, SUBTOTAL-RESOURCES 665,508, ,718, ,420,659 TRANSFER FROM OTHER FUNDS 205,889,455 36,893,374 1,994,439 TOTAL RESOURCES 871,398, ,611, ,415,098 REQUIREMENTS FTE's OPERATING EXPENDITURES MARINE & INDUSTRIAL DEVELOPMENT ,607,687 57,607,687 0 GENERAL AVIATION 8.0 2,200,523 2,200,523 0 ENGINEERING ,028,791 10,028,791 0 NAVIGATION ,109,794 10,109,794 0 CORPORATE ADMINISTRATION ,446,855 31,446,855 0 COMMERCIAL AVIATION ,746, ,746,340 SUBTOTAL-OPERATING EXPENDITURES ,139, ,393,650 79,746,340 CAPITAL EXPENDITURES MARINE & INDUSTRIAL DEVELOPMENT 37,059, GENERAL AVIATION 5,964, NAVIGATION 200, CORPORATE ADMINISTRATION 5,234, COMMERCIAL AVIATION 245,853, CAPITALIZED LABOR (17,168,881) 0 0 SUBTOTAL-CAPITAL EXPENDITURES 277,142, TRANSFER TO OTHER FUNDS 205,889,455 40,671, ,663,758 OTHER ENVIRONMENTAL 1,461,054 1,461,054 0 OTHER 10,000 5,000 5,000 DEBT SERVICE PAYMENTS 62,013,245 6,130,970 0 CONTINGENCY 117,965,743 59,949,380 15,000,000 UNAPPROPRIATED BALANCE 15,775, TOTAL REQUIREMENTS 871,398, ,611, ,415,098 * INCLUDES ONLY ACTIVE FUNDS 9

15 SUMMARY OF RESOURCES AND REQUIREMENTS BY FUND (CONTINUED) CONSTRUCTION FUNDS DEBT SERVICE FUNDS BOND AIRPORT PFC AIRPORT PFC BOND CONSTRUCTION CONSTRUCTION FUND REVENUE BOND FUND 10,000, ,514,070 16,696,554 5,005,000 10,770, ,337,000 13,420,200 31,808, , , ,800, ,337, ,734,270 48,504,554 5,324,000 11,469,975 46,120,859 66,016, ,794,275 10,070,000 58,457, ,750,778 48,504,554 50,118,275 21,539, ,059, ,964, , ,234, ,853, (8,427,521) (8,741,360) ,030, ,112, ,427,521 8,741,360 42,385, ,113,275 10,769,000 10,000,000 26,897,076 6,119, ,005,000 10,770,975 58,457, ,750,778 48,504,554 50,118,275 21,539,975 10

16 SUMMARY HIGHLIGHTS (BUDGET BASIS) ADOPTED PROPOSED SUMMARY OF RESOURCES - ALL FUNDS BUDGET PROJECTED BUDGET PERCENT CHANGE BEGINNING BALANCE 303,286, ,240, ,744,403 (14%) OPERATING REVENUE 265,691, ,335, ,033,506 1% GRANTS/INTEREST INCOME/OTHER 79,962,789 61,862,361 55,315,200 (31%) TAXES 8,178,250 8,178,250 8,615,578 5% BOND SALE / SWAP PROCEEDS 100,000, ,000,000 72,800,000 (27%) SUBTOTAL 757,119, ,616, ,508,687 (12%) TRANSFERS 194,440, ,705, ,889,455 6% TOTAL RESOURCES 951,560,226 1,072,321, ,398,141 (8%) SUMMARY OF REQUIREMENTS - ALL FUNDS EXPENDITURES GENERAL FUND 111,242, ,302, ,393,650 0% AIRPORT REVENUE FUND 76,002,169 76,435,484 79,746,340 5% BOND CONSTRUCTION FUND 79,306,698 79,878,020 40,030,338 (50%) AIRPORT CONSTRUCTION FUND 119,108, ,673, ,112,342 99% SUBTOTAL 385,659, ,289, ,282,670 21% TRANSFERS 194,440, ,705, ,889,455 6% SYSTEM DEVEL CHARGES / OTHER 10, ,000 0% OTHER ENVIRONMENTAL 4,965,421 4,728,740 1,461,054 (71%) DEBT SERVICE PAYMENTS 55,434, ,929,115 55,882,275 1% LONG - TERM DEBT PAYMENTS 5,925,369 5,925,369 6,130,970 3% CONTINGENCY 294,348, ,968, ,965,743 (60%) UNAPPROPRIATED BALANCE 10,775,975 15,775,975 15,775,975 46% TOTAL REQUIREMENTS 951,560,226 1,072,321, ,398,141 (8%) PERCENT CHANGE compares PROPOSED BUDGET to ADOPTED BUDGET FY SUMMARY OF OPERATING AND CAPITAL REQUIREMENTS BY FUND: OPERATING CAPITAL EXPENDITURES EXPENDITURES TOTAL GENERAL FUND 111,393, ,393,650 AIRPORT REVENUE FUND 79,746, ,746,340 BOND CONSTRUCTION FUND 0 40,030,338 40,030,338 AIRPORT CONSTRUCTION FUND 0 237,112, ,112,342 TOTAL PORT 191,139, ,142, ,282,670 11

17 SUMMARY HIGHLIGHTS (BUDGET BASIS) ADOPTED OPERATING CONTRIBUTIONS ACTUAL ACTUAL BUDGET PROJECTED BY DIVISION PROPOSED BUDGET MARINE & INDUSTRIAL DEVELOPMENT * 7,313,945 14,594,982 12,808,395 23,218,430 NAVIGATION DIVISION 1,194,413 3,187,975 1,510,913 1,657,221 ADMINISTRATIVE DIVISIONS 244, , , ,083 COMMERCIAL AVIATION 97,735,466 97,974,278 98,236,536 98,832,580 GENERAL AVIATION 1,162,487 1,370,592 1,022,234 1,047,735 ADMINISTRATION (28,783,773) (30,556,434) (35,361,065) (36,311,916) TOTAL 78,866,627 86,851,782 78,447,013 88,597,133 11,548,303 2,307, , ,970,319 1,242,824 (41,475,646) 75,893,516 ADOPTED ADMINISTRATIVE OPERATING EXPENDITURES ACTUAL ACTUAL BUDGET PROJECTED BY DIVISION PROPOSED BUDGET ENGINEERING 8,200,790 8,397,837 9,040,828 9,045,323 CORPORATE ADMINISTRATION * 20,582,984 22,158,597 26,320,237 27,266,593 TOTAL ADMINISTRATIVE 28,783,773 30,556,434 35,361,065 36,311,916 * IN FY , BUSINESS DEVELOPMENT AND PROPERTY & DEVELOPMENT SERVICES TRANSFERRED FROM CORPORATE ADMINISTRATION TO THE MARINE & INDUSTRIAL DEVELOPMENT DIVISION. THE FY FINANCIAL HISTORY HAS BEEN RESTATED TO REFLECT THIS ORGANIZATIONAL CHANGE. 10,028,791 31,446,855 41,475,646 12

18 Statutory Budget FY (s in Millions) Budget Resources Chart Title (s in Millions) Transfers GRANTS/INTEREST INCOME/OTHE Grants/Interest Income/Other 55.3 BEGINNING BALANCE Beginning Balance TAXES Taxes 24% OPERATING REVENUE Operating Revenue BOND ISSUES Bond Issues 6% 72.8 TRANSFER FROM OTHER Bond FUNDS Issues Transfers % Grants/Interest Income/Other TOTAL RESOURCES Beginning Balance % Operating Revenue % Taxes 8.6 1% Budget Requirements Chart Title (s in Millions) OTHER ENVIRONMENTAL Other Environmental OTHER+CONTINGENCY+UNAPPROContingency/ Unappropriated & Other SUBTOTAL-OPERATING EXPENDITOperating Expenditures 24% SUBTOTAL-CAPITAL EXPENDITURECapital Expenditures % DEBT SERVICE PAYMENTS Debt Service 62.0 TRANSFER TO OTHER FUNDS Transfers Debt Service TOTAL REQUIREMENTS % Transfers Other Environmental Contingency/ Unappropriated & Other % Capital Expenditures % Operating Expenditures % 13

19 Operating Budget FY (s in Millions) Sources of Operating Revenue Navigation Chart Title (s in Millions) % TOTAL NAVIGATION Navigation 12.4 TOTAL MARINE & INDUMarine & Industrial Development 69.2 TOTAL GENERAL AVIATION TOTAL ADMINISTRATION General Aviation & Other 3.7 TOTAL OPERATING REVENUE PDX OPERATING REVENUE PDX % Marine & Industrial Development % General Aviation & Other 3.7 1% Operating Uses of Operating Revenue Chart Title (s in Millions) TOTAL EXPENDITURESTOTAL Income EXPENDITURESTOTAL 9.2 EXPENDITURES Operating Expenses % Cost of Property Sold 5.1 Depreciation 77.9 Operating Income SUBTOTAL-OPERATING EXPENDITURES Operating Expenses % Depreciation % Cost of Property Sold 5.1 2% 14

20 FUND APPROPRIATIONS ADOPTED ACTUAL ACTUAL BUDGET PROJECTED RESOURCES & REQUIREMENTS OPERATING FUNDS GENERAL FUND 248,137, ,275, ,175, ,340,119 AIRPORT REVENUE FUND 167,754, ,870, ,840, ,679,993 SUBTOTAL OPERATING FUNDS 415,892, ,145, ,015, ,020,113 PROPOSED BUDGET ,611, ,415, ,026,700 CONSTRUCTION FUNDS BOND CONSTRUCTION FUND 37,304,489 48,082,757 96,862,810 97,424,072 PFC FUND 37,163,056 38,263,679 39,636,002 43,279,296 AIRPORT CONSTRUCTION FUND 194,686, ,672, ,835, ,893,258 SUBTOTAL CONSTRUCTION FUNDS 269,154, ,018, ,334, ,596,627 58,457,859 48,504, ,750, ,713,191 PORT DEBT SERVICE FUNDS AIRPORT REVENUE BOND FUND 49,172,400 47,713,381 44,669, ,164,115 PFC BOND FUND 21,774,697 21,546,600 21,540,975 21,540,975 SUBTOTAL DEBT SERVICE FUNDS 70,947,097 69,259,982 66,210, ,705,090 50,118,275 21,539,975 71,658,250 TOTAL* 755,993, ,424, ,560,226 1,072,321, ,398,141 * RESOURCES = REQUIREMENTS FOR ACCOUNTING PURPOSES, ALL PORT FUNDS ARE ACCOUNTED FOR ON AN ACCRUAL BASIS. FOR BUDGETARY PURPOSES, ALL PORT FUNDS ARE BUDGETED ON AN ACCRUAL BASIS, EXCEPT SOME ENVIRONMENTAL EXPENSES. 15

21 BUDGETED CAPITAL SUMMARY TOTAL PORT CAPITAL (LND) (LIM) (BDA) (MEQ) LAND LAND BUILDINGS MACHINERY IMPROVE & EQUIP & EQUIP TOTAL (O) BOND CONSTRUCTION FUND - OPEN PROJECTS 0 35,216,717 6,488,000 6,208,142 47,912,859 (C) BOND CONSTRUCTION FUND - CANDIDATE PROJECTS , ,000 TOTAL BOND CONSTRUCTION FUND 0 35,216,717 6,488,000 6,753,142 48,457,859 (O) AIRPORT CONSTRUCTION FUND - OPEN PROJECTS 500,000 46,419, ,142,000 75,692, ,753,402 (C) AIRPORT CONSTRUCTION FUND - CANDIDATE PROJECTS 0 897, , ,000 2,100,300 TOTAL AIRPORT CONSTRUCTION FUND 500,000 47,316, ,129,800 75,907, ,853,702 (O) TOTAL ALL FUNDS - OPEN PROJECTS 500,000 81,635, ,630,000 81,900, ,666,261 (C) TOTAL ALL FUNDS - CANDIDATE PROJECTS 0 897, , ,000 2,645,300 TOTAL ALL PORT 500,000 82,533, ,617,800 82,660, ,311,561 Budgeted Capital by TSCC Code 150,000, ,617, ,000,000 82,533,262 82,660,499 CANDIDATE PROJECTS OPEN PROJECTS 50,000, ,000 (LND) (LIM) (BDA) (MEQ) (LND) (LIM) (BDA) (MEQ) OPEN PROJECTS 500,000 81,635, ,630,000 81,900,499 CANDIDATE PROJECTS 0 897, , ,000 Budgeted Capital by Fund 250,000, ,853, ,000, ,000, ,000,000 50,000,000 48,457,859 CANDIDATE PROJECTS OPEN PROJECTS 0 BOND AIRPORT BOND CONSTRUCTION AIRPORT CONSTRUCTION FUND FUND OPEN PROJECTS 47,912, ,753,402 CANDIDATE PROJECTS 545,000 2,100,300 16

22 PORT OF PORTLAND - CAPITAL FORECAST BY PROGRAM Fiscal Year Ending June 30 Proposed* Projected Budget Forecast Forecast Forecast Forecast Department/Program Total General Aviation: Portland Hillsboro Airport 11,832,366 6,398,300 7,261,000 9,200,000 5,699,000 13,982,000 54,372,666 Portland Mulino Airport 500,000 1,380,000 1,048,000 1,251, ,179,000 Portland Troutdale Airport 1,229,562 2,586,000 7,671,476 5,251, ,193 5,304,751 22,758,109 Subtotal General Aviation 13,561,928 10,364,300 15,980,476 15,702,127 6,414,193 19,286,751 81,309,775 PDX: Administration 262, , ,000 Air Trans Demo/Grading 251, ,010 Air Trans Drain/Utility/Streets , , ,000 Air Trans Ramps/Taxiways 700,000 6,000,000-2,700,000 5,300,000-14,700,000 Airfield Improvements/Expansions 23,224,099 18,974,000 55,960,000 76,786,000 52,588,000 20,747, ,279,099 Airport Rescue & Fire Fighters 1,152,540 1,280,000 75, ,000 1,010,000 1,320,000 5,227,540 Airside Improvements 4,343,519 9,835,945 3,950,194 9,636,552 13,398,061 5,722,655 46,886,926 Environmental 95,000 65,000 65,000 20,000 65,000 65, ,000 Ground Transportation 426,214 1,015, , , ,000-2,981,214 Low Visibility 510, ,000 3,400,000-4,510,350 Maintenance 2,108, , ,000 1,365,000 3,482, ,000 8,261,513 Noise Abatement 1,121, , ,000 2,500,000 2,500,000 2,500,000 10,071,170 Operations 11,428 60,000-60,000-60, ,428 Parking System 35,976, ,848,700 82,820,000 1,684,400 9,885,000 64,314, ,529,054 Police 372,620 61, , ,000 65,000 1,357,620 Portland International Center - 636, , ,000-1,519,600 Safety & Security 16,694,143 60,659,357 50,731,674 10,657,977 35,000 1,330, ,108,151 Shuttle Bus System 1,020,000 2,919, ,000 1,900, ,000 6,439,000 Southwest Quadrant 50, ,000 3,950,000 3,500,000 7,000,000-15,000,000 Systems & Services 1,733, , , , ,000 3,675,000 7,933,814 Terminal Concessions 2,530, ,000 4,000,000 5,700,000 9,580,000 9,000,000 30,945,587 Terminal Improvements 19,828,350 11,749,837-21,623,161 46,405,292 55,111, ,718,140 Transportation Improvement Plan 26,415,209 20,303,900 3,600,000 14,900,000 62,500,000 7,208, ,927,109 Subtotal PDX: 138,826, ,274, ,955, ,079, ,951, ,368,752 1,151,455, Total Aviation: 152,388, ,638, ,935, ,781, ,365, ,655,503 1,232,765,100

23 PORT OF PORTLAND - CAPITAL FORECAST BY PROGRAM Fiscal Year Ending June 30 Proposed* Projected Budget Forecast Forecast Forecast Forecast Department/Program Total Marine by Line of Business: Autos 3,040,991 1,554,000 1,400,000 2,383, ,000 1,000,000 9,777,991 Break Bulk 81, , , ,631,529 Containers 18,270,524 4,159,892 5,193,077 2,658,682 5,088,424 3,263,255 38,633,854 Grain Bulk - 2,000,000 6,010, ,010,000 Mineral Bulk 3,589,135 11,815,000 5,990,000 3,400, , ,000 24,994,135 Marine Property Management 2,773,755 13,611,500 15,597,780 1,497,363 1,531,785 3,007,238 38,019,421 Marine Support & Maintenance 16,922,819 2,076,600 2,790,000 4,550,000 4,000,000-30,339,419 Subtotal Marine: 44,678,753 35,916,992 37,830,857 14,489,045 11,120,209 7,370, ,406,349 Industrial Dev & Land Use Planning: East County Property Program 17,701,696 12,367,522 6,736,151 8,546,914 9,145,199-54,497,482 Other 335,927 4,746, , ,499,622 Subtotal Industrial Dev & Land Use: 18,037,623 17,113,572 7,153,796 8,546,914 9,145,199-59,997, Navigation: Replace Dredge Oregon ,000,000 9,000,000 10,000,000 Other 3,886,415 1,150,000 2,650,000 3,850,000 1,150, ,000 13,436,415 Subtotal Navigation: 3,886,415 1,150,000 2,650,000 3,850,000 2,150,000 9,750,000 23,436,415 Engineering and Administration: 10,629,486 8,488,610 5,575,000 1,825,000 2,625,000 1,075,000 30,218,096 Total Bond Construction Fund: 77,232,277 62,669,174 53,209,653 28,710,959 25,040,408 18,195, ,057,964 (less General Aviation) Total Port of Portland: 229,620, ,307, ,145, ,492, ,406, ,850,996 1,497,823,064 *Capital forecast by program includes all Open, Candidate Yes and Candidate No projects. Budgetary appropriations do not include candidate no projects.

24 Port of Portland Operating Budget: PROPOSED BUDGET Summary of Operating Revenues, Personal Services and Material & Services Expenditures by Division (Total Port, not divided by Fund structure) Materials & Services Total Operating Expenditures Management & Travel Other Equip Rents, Repair & Fuel Insurance Materials & Supplies Utilities Contracts & Prof. Svcs. Longshore Labor Personal Services Operating Revenues Operating Divisions PDX 181,716,659 36,826, ,900,438 5,812,487 1,768,734 1,647,572 1,346, ,819 79,746,340 General Aviation 3,443, , ,406 69, , ,750 57,518 33, ,502 2,200,523 Marine & Industrial Development 69,155,990 12,827,586 27,788,943 9,370,548 1,375,507 2,310,635 1,099, ,649 1,043, ,480 57,607,687 Navigation 12,417,760 4,431, ,109 1,048,660 38,214 3,499, ,400 27,500 36,000 10,109,794 Subtotal: Operating Divisions 266,733,756 54,858,076 27,788,943 39,542,501 5,193,223 8,500,636 6,532,869 2,951,139 2,451,156 1,845, ,664,344 Corporate Administration Executive Administration 0 641, , , , , ,217,367 Public Affairs 0 4,046, ,224,605 9,915 1,800 7, ,036 15,740 5,639,748 Human Resources 0 1,813, ,673 8, , , ,040 3,582,626 Legal 0 1,905, ,000 5,600 5, ,500 1,100 2,160,634 Finance & Administration 299,750 11,466, ,619, , , ,690 20, ,042 3,008,049 18,846,480 Subtotal: Corporate Administration 299,750 19,874, ,884, , , , ,864 1,271,764 3,613,379 31,446,855 Other Divisions Other Environmental ,461, ,461,054 Engineering 9,542, ,597 55,900 2,700 32, ,650 62,570 10,028, Subtotal: Other Divisions 0 9,542, ,584,651 55,900 2,700 32, ,650 62,570 11,489,845 Total: Operating Budget 267,033,506 84,275,237 27,788,943 46,011,449 5,542,147 9,027,836 7,109,109 3,393,003 3,931,570 5,521, ,601,044 (1) Expenditures exclude interdepartmental transfers, allocated support services, capitalized costs, depreciation and costs of property sold. (2) Revenue within Finance & Administration is primarily derived from employee parking charges, administration building space rental and contributions from other local governments participating in the Port's DBE/Mentor program. (3) "Other Environmental" includes costs which are not directly attributable to specific Port facilities or which pertain to discontinued operations. (4) "Other" expenses include rent, software and hardware, PDX drainage fees and post-retirement benefits.

25 GENERAL PORT OPERATIONS From a financial perspective, the Budget document has two primary divisions, General Port Operations and Aviation. The distinction is a financial one rather than operational, but it serves to help explain the Port s Budget and financial information. General Port Operations include the following: Marine & Industrial Development, Navigation, Engineering, and the Administrative Divisions. The primary resources for General Port Operations are from Marine & Industrial Development operating revenues, property sales and leases, and the Port s property tax levy. Aviation is comprised of Portland International Airport (PDX) and three General Aviation reliever airports located at Hillsboro, Troutdale, and Mulino. The General Aviation reliever system is included in the Port s General Fund. PDX resources cannot be commingled with any other resources of the Port, and are restricted for use at Aviation facilities in accordance with FAA regulations and Airport Revenue Bond Ordinances. PDX resources can be used to fund the General Aviation reliever system in certain circumstances and a transfer of resources is made from the Airport Revenue Fund to the Port s Bond Construction Fund for that purpose. 20

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27 GENERAL FUND The General Fund is used to account for the general operations of the Port. Subject to the restrictions of local budget law, its assets may be transferred to another fund for any authorized Port purpose. The following summary shows the principal resources and requirements for the General Fund. It also includes information on specific Port operations as well as a property tax levy used for Port improvements. The Port manages all General Fund activities as a portfolio designed to fulfill the mission while balancing financial resources and requirements. While the Port s General Aviation airports are part of the General Fund, from a financial perspective, the Airport Revenue Fund subsidizes General Aviation activities that are not funded through General Aviation operations or FAA grants. This funding is accomplished by a transfer from the Airport Revenue Fund to the Bond Construction Fund. The General Fund summary is followed by specific information on Marine & Industrial Development, General Aviation, Engineering, Navigation, and Corporate Administration. Capital requirements for these areas are shown in the Bond Construction Fund. General Fund Revenues are primarily generated in the Marine & Industrial Development Division. The forecast for General Fund operating revenue is based on assumptions of transactions closing as well as the timing of those transactions; changes in either set of assumptions can have a material impact on the actual financial results accomplished. 21

28 GENERAL FUND ADOPTED ACTUAL ACTUAL BUDGET PROJECTED RESOURCES & REQUIREMENTS PROPOSED BUDGET RESOURCES BEGINNING WORKING CAPITAL 130,803, ,336, ,183, ,677,066 83,757,804 OPERATING REVENUE GENERAL AVIATION OPERATING REVENUE 989,202 1,027,976 1,058,740 1,086,739 SERVICE REVENUE 27,756 24,681 25,329 25,329 RENTAL & CONCESSIONS/OTHER REVENUE 2,195,971 2,349,379 2,260,116 2,262,116 TOTAL GENERAL AVIATION 3,212,929 3,402,035 3,344,185 3,374,184 1,047,004 34,332 2,362,011 3,443,347 MARINE & INDUSTRIAL DEVELOPMENT * OPERATING REVENUE 8,438,984 10,106,228 9,812,383 9,812,383 SERVICE REVENUE 2,308,451 3,736,841 3,067,004 3,067,004 CONTAINER REVENUE 24,245,424 35,199,199 37,432,739 37,432,738 RENTAL & CONCESSIONS 13,108,402 12,357,333 12,094,174 12,094,174 LAND SALE PROCEEDS 1,000 1,340,435 16,335,000 16,335,000 OTHER REVENUE 246, , , ,698 TOTAL MARINE & INDUSTRIAL DEVELOPMENT 48,348,799 62,946,428 79,135,998 79,135,997 11,161,780 2,735,883 37,065,565 12,564,306 5,096, ,997 69,155,990 NAVIGATION OPERATING REVENUE 5,020,166 9,406,603 8,742,791 10,403,905 OTHER REVENUE (45,704) 1,170, TOTAL NAVIGATION 4,974,462 10,576,915 8,742,791 10,403,905 12,417, ,417,760 CORPORATE ADMINISTRATION * RENTAL INCOME 0 27,204 25,000 14,583 REVENUE BOND FEES OTHER REVENUE 244, , , ,500 TOTAL ADMINISTRATION 244, , , , , ,750 TOTAL OPERATING REVENUE 56,780,280 77,205,766 91,452,974 93,067,169 * IN FY , BUSINESS DEVELOPMENT AND PROPERTY & DEVELOPMENT SERVICES TRANSFERRED FROM CORPORATE ADMINISTRATION TO THE MARINE & INDUSTRIAL DEVELOPMENT DIVISION. THE FY FINANCIAL HISTORY HAS BEEN RESTATED TO REFLECT THIS ORGANIZATIONAL CHANGE. 85,316,847 22

29 GENERAL FUND ADOPTED ACTUAL ACTUAL BUDGET PROJECTED RESOURCES & REQUIREMENTS RESOURCES (CONTINUED) PROPOSED BUDGET OTHER RESOURCES FIXED ASSET SALES/OTHER 824,653 (2,886,475) 1,606,783 0 INTEREST ON INVESTMENTS 5,819,373 8,724,078 6,732,000 7,315,300 BOND SALE PROCEEDS FEDERAL/STATE GRANTS/OTHER TOTAL OTHER 6,644,026 5,837,604 8,338,783 7,315, ,028, ,028,000 INTERFUND REIMBURSEMENTS-FROM AIRPORT REVENUE FUND 13,299,582 13,312,426 15,691,172 16,758,670 BOND CONSTRUCTION FUND 4,665,129 5,343,153 7,465,112 7,433,052 AIRPORT CONSTRUCTION FUND 6,400,576 6,324,836 6,467,155 6,512,271 TOTAL INTERFUND REIMBURSEMENTS 24,365,287 24,980,415 29,623,439 30,703,993 18,700,748 8,318,321 7,370,810 34,389,879 CASH TRANSFERS FROM OTHER FUNDS: AIRPORT REVENUE FUND 2,009,173 2,966,569 2,398,341 2,398,341 TOTAL CASH TRANSFERS FROM OTHER FUNDS 2,009,173 2,966,569 2,398,341 2,398,341 LIMITED TAX PENSION BONDS 20,012, ,503,495 2,503,495 0 TAXES TAXES WITHIN PERMANENT RATE LIMIT 0 0 8,178,250 8,178,250 PROPERTY TAXES 7,501,470 7,921, INTEREST ON TAXES 22,359 26, TOTAL TAXES 7,523,829 7,947,945 8,178,250 8,178,250 8,615, ,615,578 TOTAL RESOURCES 248,137, ,275, ,175, ,340, ,611,602 23

30 GENERAL FUND ADOPTED PROPOSED ACTUAL ACTUAL BUDGET PROJECTED BUDGET REQUIREMENTS EXPENDITURES BY DIVISION MARINE & INDUSTRIAL DEVELOPMENT * 41,034,854 48,351,447 66,327,603 55,917,567 57,607,687 NAVIGATION 3,780,049 7,388,940 7,231,878 8,746,684 10,109,794 GENERAL AVIATION 2,050,442 2,031,443 2,321,951 2,326,449 2,200,523 ENGINEERING 8,200,790 8,397,837 9,040,828 9,045,323 10,028,791 CORPORATE ADMINISTRATION * 20,582,984 22,158,597 26,320,237 27,266,593 31,446,855 TOTAL EXPENDITURES 75,649,119 88,328, ,242, ,302, ,393,650 INTERFUND REIMBURSEMENTS-TO AIRPORT REVENUE FUND 101, ,536 71, ,829 54,689 TOTAL INTERFUND REIMBURSEMENTS 101, ,536 71, ,829 54,689 TOTAL EXPENDITURES & REIMBURSEMENTS 75,750,342 88,536, ,313, ,408, ,448,339 OTHER REQUIREMENTS OTHER ENVIRONMENTAL 5,276,354 5,545,058 4,965,421 4,728,740 1,461,054 LONG-TERM DEBT PAYMENTS (1) 5,243,182 5,711,212 5,925,369 5,925,369 6,130,970 ADVANCED PAYMENTS TO PERS 20,012, SYSTEM DEVEL CHARGES / OTHER 139, , ,000 TOTAL OTHER REQUIREMENTS 30,670,570 11,256,270 10,895,790 10,654,109 7,597,024 CASH TRANSFERS TO OTHER FUNDS BOND CONSTRUCTION FUND 17,000,000 15,000,000 49,177,589 71,344,762 40,156,859 AIRPORT REVENUE FUND 379, , , ,000 TOTAL CASH TRANSFERS TO OTHER FUNDS 17,379,914 15,805,158 49,177,589 71,519,762 40,616,859 TOTAL OTHER REQ & CASH TRANSFERS 48,050,484 27,061,428 60,073,379 82,173,871 48,213,883 CONTINGENCY ,788,651 83,757,804 59,949,380 ENDING FUND BALANCE 124,336, ,677,066 TOTAL REQUIREMENTS 248,137, ,275, ,175, ,340, ,611,602 (1) LONG -TERM DEBT PAYMENTS CITY OF PORTLAND L.I.D. 846, , , , ,702 LIMITED TAX PENSION BONDS 4,396,627 4,863,468 5,075,369 5,075,369 5,302,268 TOTAL LONG-TERM DEBT PAYMENTS 5,243,182 5,711,212 5,925,369 5,925,369 6,130,970 * IN FY , BUSINESS DEVELOPMENT AND PROPERTY & DEVELOPMENT SERVICES TRANSFERRED FROM CORPORATE ADMINISTRATION TO THE MARINE & INDUSTRIAL DEVELOPMENT DIVISION. THE FY FINANCIAL HISTORY HAS BEEN RESTATED TO REFLECT THIS ORGANIZATIONAL CHANGE. 24

31 MARINE AND INDUSTRIAL DEVELOPMENT The Port owns four marine terminals which handle a diverse mix of cargo, including grain, mineral bulk, breakbulk, liquid bulk, automobiles, project cargo, and containers. All four terminals lay in close proximity to major rail, highway, and inland barge connections, offering world-class intermodal transportation flexibility. The Port is the largest developer of industrial and business parks in the Portland metropolitan area. Within its 10,000 acres of property holdings, the Port oversees five business and industrial parks: Rivergate Industrial Park, Portland International Center, Swan Island Industrial Park including Mocks Landing and Port Center, Troutdale Reynolds Industrial Park, and Brookwood Corporate Park. Business Plan Initiatives Container Business Line Increase Terminal 6 container throughput by expanding service by current directcall Portland carriers and by attracting service by new carriers. Establish a long-term operating model for Terminal 6 that improves and sustains international market access for local and regional shippers, increases intermodal volumes, secures private capital investment, and stabilizes Port financial performance. Improve the operational and financial performance of the Terminal 6 through the implementation of new technology. Non-Container Marine Business Line Develop new business at Terminal 2 and Terminal 4, including project cargos, liquid bulks, and dry bulks. Work with tenants to improve the utilization of the Port's three automobile terminals and develop areas for terminal expansion where needed. Rehabilitate and extend the life of the Berth 503, which is used for the export of potash. Real Estate Market Port properties to potential import cargo warehousing and distribution accounts in support of Terminal 6 container operations. Market Lots 1 and 3 in the Troutdale Reynolds Industrial Park. Assess real estate marketing opportunities and schedule for Troutdale Reynolds Industrial Park Phase 2 development. 25

32 Infrastructure Development Deepen the Columbia River channel to 43 feet to allow the passage of deeperdraft bulk and container ships. Work with the U.S. Army Corps of Engineers to complete an updated dredged material management plan for the Willamette River. Expand the South Rivergate Yard to improve the efficiency of rail service to Rivergate Industrial District marine terminals and shippers. Construct a second lead and a new yard to facilitate dual unit train movement between North and South Rivergate and to increase efficient manifest and auto train movement for Rivergate area and Terminal 4 businesses. Widen North Lombard Street in Rivergate to accommodate vehicle traffic generated through the build-out of the Rivergate Industrial District. Design and construct an overcrossing extension of the current Leadbetter Road cul-de-sac in Rivergate to provide 24-hour access to Columbia Sportswear, Oregon Transfer, and other Leadbetter Road businesses. Begin Phase I development of the Troutdale Reynolds Industrial Park. Development activities include grading, utilities, streets, and traffic improvements. Facility and Land Use Planning Complete permitting and approval processes for Troutdale Reynolds Industrial Park Phase I development. Begin analysis of development alternatives for subsequent phases of TRIP development. As part of the City of Portland's planning for Hayden Island and the Columbia Crossing project, work to annex and designate the west side of Hayden Island for marine industrial uses and natural resource lands. Complete a facility plan for the Pier 1 area of Terminal 4. Continue work with the City of Portland to develop a new Greenway code and overall river plan which addresses industrial operations and development, trail locations, and mitigation opportunities. Security Prepare for and implement the federal Transportation Worker Identification Credential (TWIC) program. Deploy an 800MHz security communication system and continue implementation of the ISO Security Management System. 26

33 Marine Business Assumptions Budget Business Line Budget Projected Forecast Containers (Boxes) 149, , ,100 Automobiles 460, , ,000 Bulk Minerals (Short Tons) 5,087,000 5,087,000 5,951,000 Bulk Grain (Short Tons) 3,705,000 3,705,000 4,188,000 Breakbulk (Short Tons) 1,104,000 1,104,000 1,132,000 27

34 MARINE & INDUSTRIAL DEVELOPMENT DIVISION * ADOPTED FUND: GENERAL ACTUAL ACTUAL BUDGET PROJECTED PROPOSED BUDGET REQUIREMENTS SUMMARY: PERSONAL SERVICES 10,881,844 11,670,611 12,282,277 12,263,121 MATERIALS AND SERVICES 30,153,010 36,680,836 54,045,326 43,654,446 12,827,586 44,780,101 TOTAL EXPENDITURES 41,034,854 48,351,447 66,327,603 55,917,567 57,607,687 INTERFUND REIMBURSEMENTS 8,203 77, ,163 0 TOTAL EXPENDITURES & REIMBURSEMENTS 41,043,057 48,429,081 66,327,603 55,954,730 * IN FY , BUSINESS DEVELOPMENT AND PROPERTY & DEVELOPMENT SERVICES TRANSFERRED FROM CORPORATE ADMINISTRATION TO THE MARINE & INDUSTRIAL DEVELOPMENT DIVISION. THE FY FINANCIAL HISTORY HAS BEEN RESTATED TO REFLECT THIS ORGANIZATIONAL CHANGE. 57,607,687 28

35 PERSONAL SERVICES FULL TIME FULL TIME EQUIV ADOPTED EQUIV PROPOSED POSITION ACTUAL ACTUAL POSITIONS BUDGET POSITIONS BUDGET GRADE TITLE MARINE ADMINISTRATION 1,325,615 1,610, ,853, ,511, ADMIN PROFESSIONAL/TECH 1,112,411 1,100, ,186, ,718, ADMIN SUPPORT STAFF 149, , , , INTERNS 22,652 19, , , BOILERMAKERS/MACHINIST 174, , , , CARPENTERS 116, , , , ELECTRICAL FOREMAN 130, , , , ELECTRICIANS 527, , , , LABORERS 330, , , , OPERATING ENGINEERS 105, , , , PAINTERS 125, , , , PLUMBERS 230, , , , SECURITY 825, , ,108, ,196,963 SUBTOTAL MARINE 5,177,194 5,875, ,602, ,893,699 TOTAL OVERTIME 731, , , ,614 ACCRUED LABOR 50,686 37, , ,963 FRINGE BENEFITS 2,188,083 2,480, ,673, ,865,478 TOTAL MARINE 8,147,091 9,124, ,948, ,562,754 INDUSTRIAL DEVELOPMENT ADMINISTRATION 229, , , , ADMIN PROFESSIONAL/TECH 606, , , , ADMIN SUPPORT STAFF 39,744 38, , LANDSCAPE GARDENERS 266, , , ,777 SUBTOTAL INDUSTRIAL DEVELOPMENT 1,141,738 1,163, ,311, ,191,752 TOTAL OVERTIME ACCRUED LABOR 10,636 (11,459) -- 5, ,894 FRINGE BENEFITS 409, , , ,954 TOTAL INDUSTRIAL DEVELOPMENT 1,562,434 1,541, ,740, ,645,901 29