Port of Oakland’s FY2021 budget drops nearly 16% due to COVID-19 implications

The Port of Oakland has curtailed its fiscal year 2021 spending plans having approved a budget for next year down 15.84% from 2020 due to coronavirus-related business declines.

The US$432.5m set aside in operating and capital expenditures and debt service payments next year, reduced from last year’s US$513.6m, reflects anticipated declines in Oakland’s aviation and maritime business.

Port of Oakland’s executive director, Danny Wan, said: “This budget is based on neither unsubstantiated hope nor speculation of any worst-case scenario.