Looking Ahead: FY22 Budget and Impact

April 26, 2021

Looking Ahead: FY22 Budget and Impact

On April 26, 2021, the Board of Commissioners approved Port KC’s Fiscal Year 22 (FY22) budget. The budget reinforces Port KC’s mission of serving Kansas City by creating a more globally connected and competitive community. With revenues from FY21 and continued resiliency, Port KC will increase its impact in FY22 through community investments in capital projects like Berkley Riverfront and Missouri River Terminal (MRT) while maintaining a focus on operational efficiency and facility maintenance.

The FY22 budget sets the following goals to maximize Port KC’s reinvestment in the community:

  • Operations: Sustain operations and employment at Berkley Riverfront, 49 Crossing, and the Woodswether Port Terminal.
  • Berkley Riverfront: Complete one Berkley Riverfront land transaction and reinvest revenue in Berkley Park maintenance, management and amenities, including Rec Hall. Additions would continue Port KC’s vision to create a diverse, equitable urban community and riverfront destination.
  • Conduit Bonds: Execute four development finance conduit bond transactions. Projects will add jobs and benefit community goals. Incremental administrative fees will be leveraged to reinvest revenue in needed capital projects, including Missouri River Terminal.
  • Missouri River Terminal (MRT): Continue MRT planning. Port KC’s initial investment will attract private investment in developing a large-scale, intermodal inland port in Kansas City. MRT will expand freight capacity, create critical access points, broaden market reach, and accelerate needed job attraction in the Blue River corridor of east KCMO.

The FY22 budget contemplates $7.8 million in total revenue and $7.3 million in total expenses, resulting in a net income of $419,000. Because of growth in FY21, Port KC will increase investments in FY22, reflected as a negative cash flow of $2.3 million.

The approved FY22 budget is a forecast for financial investment and impact and a strong reflection of Port KC’s mission. Budget approval is not an approval of underlying projects. The public is encouraged to attend Finance and Administration Committee meetings and Commission meetings.