KINGSTON — The Port of Kingston is doing its best to cover the cost of its maintenance dredging project, but will need to dip into a savings fund to finance the project in 2013.
The Board of Commissioners approved the 2013 budget Nov. 19.
The port’s total expected revenues are $1,245,049, generated from three main sources: marina user charges (permanent and guest moorage), property rentals and fuel sales.
The expenses are estimated at $960,836, which do not include the year’s capital projects, which are budgeted at $1.02 million.
The port will need to take $208,207 from the marina rehabilitation fund, set aside to rebuild the docks in about 15 years. Scott Coulter, the port’s business manager, said the account will have $1.78 million by the end of 2012 but is not intended to be a reserve account.
“I’d rather earn through operations throughout the year,” than use the marina fund, Commissioner Pete DeBoer said. “If we have a good year we won’t have to do that … [But] I’d rather borrow from ourselves for a year or two.”
The biggest capital expense is the dredging project. The port’s engineer estimated the dredge could cost as much as $698,298. Port Executive Director Kori Henry said the cost and the timing of the dredge depends on the soil samples that will be analyzed in January. If the soil inside the cove is clean, the port can begin the two-week dredge work before the Feb. 28 cut-off and dispose of the soil in Puget Sound near Everett. If the soil is contaminated, the port will need to apply for one more permit to dispose of the soil upland and push the project to July.
The permanent moorage rate increased by 2.7 percent, a $3.80 increase per month fora 24-foot boat. The port also increased their rental rates for the Kingston Cove Yacht Club, up 2.75 percent, and the state Department of Transportation for the ferry dock, up 2.14 percent.
The port also approved a 2 percent property tax levy increase. Coulter said the port has not increased the levy in five years; the additional funding will help pay for the dredge. The rate is estimated to be set at 21 cents per $1,000 assessed home value in the port district.
The budget also includes a 2.7 wage increase for staff members, totaling about $570,000 for salaries and benefits. Coulter said commissioners asked that the raises be included.
DeBoer said the board wanted to recognize and appreciate staff members for their work. They have not received raises in five years, sometimes not even cost-of-living increases.
“I think [the port] is one of the best jobs they can have in North Kitsap County,” he said. “They get to mix with the public, see how [the public] enjoys what [they’ve] done,” such as the Christmas lights and the summer concert series.
“They deserve to be well-compensated for that,” he added.
