Oakland Budget Announced

The Port of Oakland’s governing board recently passed a $513.6 million spending plan for fiscal year 2020.

The budget, which went into effect July 1, projects $398 million in revenue, a 1.2 percent increase from FY 2019, as well as a 10.4 percent increase in operating costs, mostly due to higher personnel, maritime maintenance and dredging and aviation security costs.

The new budget also encompasses $42.3 million in capital spending at the seaport, Oakland International Airport and Jack London Square. Pending approval from the board, the port is anticipated to launch another $81.4 million in capital projects during the year.

By Karen Robes Meeks