In its biweekly meeting last week, the Port of Chehalis adopted its 2023 budget following multiple public meetings featuring discussions and suggestions by the port commissioners.
Ultimately, the port decided to go with the net zero budget proposal.
The port’s operating budget will have $337,193.20 of total operating cash inflow and $832,425.66 of cash outflow. Cash inflow from port taxes and debts will amount to $495,232.46 leaving a net increase of zero in operating cash. The capital budget will be $82,000.
“The majority of that ($82,000 capital budget) we expect to be offset by future grants,” Port of Chehalis CEO Lindsey Senter said at the Oct. 27 meeting.
In a Port of Centralia meeting that had been postponed to Oct. 24, a 2023 preliminary budget was proposed and made available to the public.
The port’s revenues were projected to total $20,439,949 with $8,115,300 coming from grants and loans, $11,429,339 from non-operating revenues and $895,310 from operating revenues.
Expenses for the Port of Centralia in 2023 were projected to total $15,434,213, which included $403,969 for port staff salaries and $12,300,000 in capital expenditures.
Port Executive Director Kyle Heaton explained that port staff were still waiting for more updated tax information before finalizing the budget.
“We’re waiting on the final tax numbers from the assessor’s office, it’s still early. Hopefully we’ll have better numbers, and we typically do by the third week in November,” Heaton said.
The next hearing for the Port of Centralia’s budget will be held at the Nov. 16 port meeting.