Everett, Wash. - On November 16, 2015, the Port of Everett Commission adopted a $78 million 2015 operating and capital budget. The budget assumes a robust capital investment portfolio, with a slight decline in seaport activity and modest growth in the marina and real estate divisions. The Port of Everett’s 2016 budget is designed to position the Port to implement its capital initiative portfolio, specifically preparing for larger ships at the Seaport and creating a new waterfront community with the Waterfront Place Central Development. These initiatives have been established by the Port Commission and are directing both the long term financing as well as the allocation of staff resources.  The 2016 budget includes a one year operating and capital budget as well as a five year capital budget forecast with a three year funding plan. The 2016 budget plans $25.5 million in operating expenses and $6.6 million in non-operating expenses, combined with a $45.9 million in capital investment – for a total Port budget for 2016 of $78 million. This budget employs close to 100 employees who operate and manage a full service international seaport, marina and the development of nearly 3,000 acres of waterfront property.  It also supports more than 100,000 local longshore hours. “A large portion of our budget is subject to external and global economic factors. Therefore, the Port is working to build a budget that is sustainable and invests in infrastructure so we can respond to any opportunity or challenge that may come our way in 2016,” Chief Financial Officer John Carter said.  The Port of Everett Commission held two public hearings and a formal comment period on the 2016 budget; no public comments were received.