Financial Information

With one of eight natural deep water marine terminal facilities in Washington state, its 1,000+ slip marina, and its roughly 80 acres of commercial properties, the Port of Anacortes is instrumental to the success and economic development of the community.

Created in 1926, under provision of the Revised Code of Washington (R.C.W. Title 53 et seq.), the Port of Anacortes is a special purpose district. It is independent from other local or state governments and performs accounting and financial reporting activities very much like a business.  Through user charges, property leases, tariffs, and fees, the Port is self-sustaining in providing ongoing services in furtherance of its mission.

As a municipal government, the Port is authorized to collect property tax revenues from property owners within its district. Based on Commission guidance, the Port uses its tax revenues to fund industrial land acquisition and development, including environmental costs; to pay for debt incurred to acquire, expand, or construct facilities that are used to support the Port’s mission; and to fund public access improvements.

The Finance Department manages all day-to-day accounting functions for the Port, including:

  • establishment of internal controls,
  • budgeting and forecasting,
  • financial reporting,
  • accounts payable, and
  • accounts receivable.

Independent financial and accountability audits are performed annually by the State Auditor’s Office, and internal, unaudited financial information is presented quarterly at regularly scheduled Commission meetings. For questions, concerns, or more information, please contact the Port’s Director of Finance & Administration, Jill Brownfield at or (360) 299-1807

Approved Operating Budgets and Capital Improvement Plans

2024 Budget

2023 Budget

The annual operating and capital budgets are developed through a transparent budgeting process, which includes public review and Commission approval.

Each fall, Port staff reviews projected revenues and expenses against the Port’s goals and objectives for the coming year and develops a preliminary budget. In early October, staff presents the preliminary budget to the Board of Commissioners at a budget study session, held during a Special Commission meeting open to the public. Following that study session, the draft budget is made available on the Port’s website or in hard copy from the main Port office. A public hearing is held on the preliminary budget at its first regularly scheduled Commission meeting in November, followed by a Commission decision on the Port’s final budget.

The final budget has several major purposes. It converts the Port’s policies and plans, including its Strategic and Comprehensive plans, into services and future capital improvement projects. It serves as a vehicle to communicate these plans to the public and becomes the work plan to be accomplished in the next fiscal year.

The 2023 budget reflects total operating revenues of $18.610 million, an increase of approximately 10% from the 2022 adopted budget. The Port anticipates continued inflation, but has conservatively forecast gas prices to return to more normal levels (affecting the Port’s gross fuel sales at its Marina fuel dock and Airport fuel island) and for CPI to trend downward. Petroleum coke and sulfur exports showed signs of rebounding in 2022, following the significant decrease in oil production during the COVID-19 pandemic, and the Port has forecast 271,000 metric tons in 2023, an increase of roughly 15% over 2022 budgeted volumes.

The Port anticipates various challenges contributing to increasing operating expenses; to include, rising inflation, supply chain issues, increasing demands on the Port’s infrastructure, and historic losses in the insurance marketplace causing premium pressure. Despite these challenges, the Port remains committed to process improvement and providing safe, productive facilities with excellent internal and external customer service. While no new full-time staff is anticipated in 2023, the Port has engaged a firm to lobby legislative priorities at the local, state and federal levels, as well as public relations and communications support to promote the Port’s individual and community initiatives. The 2023 budget projects total operating expenses of $18.556 million, an 11% increase over the 2022 budget.

Capital projects are anticipated to total over $9.8 million in 2023, as the Port begins to shift focus from deferred maintenance across all operating areas towards new opportunities within the Marina and newly acquired properties. Significant initiatives include a fully upgraded RV Park complete with dedicated utilities, green spaces, privacy hedges and a restroom facility, feasibility and design of potential West Basin Buildings and the West Basin Parking/Heavy Haul Route Redevelopment, design and permitting efforts for the Industrial Park at the Rockwell property, and design work for both the Shore-to-Ship power and Commercial Pumpout projects, drawn from the 2020 Marine Terminal Modernization Study.

Rounding out the 2023 budget is the Port’s ongoing program to identify and address environmental contamination from prior operations on Port properties. In 2023, the Port anticipates investing $2.5 million in continued cleanup and restoration work at the Dakota Creek Industries and Quiet Cove sites, and continued remedial investigation and analysis on the former Pier 2 Log Haul Out site.

The Port issues an annual financial report following the end of each calendar year. This report is audited by the State Auditor’s Office. The report includes a summary of the year, known as Management’s Discussion and Analysis, along with the financial statements and notes to those statements. The Port of Anacortes has been recognized by the Washington State Auditor for having an exemplary audit track record, for staff’s excellent communication and transparency in regards to financial information, and for their proactive approach to internal audit functions to best protect Port assets and resources.

In addition to the annual financial statement audit, the State Auditor’s Office, in accordance with RCW 43.09.260, performs an accountability audit involving the review of the Port’s uses of public resources, compliance with state laws and regulations and its own policies and procedures, and internal controls over such matters.

Audit reports for prior years can be found at the Washington State Auditor’s Office website by doing a search.

The Port is permitted by law to levy up to $0.45 per $1,000 of assessed value of taxable property within the district for general purposes. Today, the Port receives about 19 cents per $1,000 of assessed value.

The average Port district taxpayer pays about $97 per year to the Port for property valued at $500,000.

How are the taxes used?

An account, which is separate from the Port’s general operating account, handles tax proceeds.  The Commission has directed that the funds collected by the tax levy will be used for property acquisition, industrial development including environmental costs, debt service, and public access improvements.

Improving Port facilities to create more jobs and encourage business growth for the community is one of the Port’s top priorities. The existing tax levy helps to ensure the Port’s ability to remain nimble to new business opportunities, to acquire new properties, and for borrowing money towards capital improvements. Commission oversight and guidance relative to tax proceeds ensures decisions are driven by benefits to the community and environmental stewardship, and not just to bottom line results.

How are the taxes not used?

Tax proceeds do not pay for the operating costs, including salaries and benefits, for the Port.

Do I live in the Port district?

Click Here for district map