Especially during this campaign season, people often ask me how the Port of Seattle is doing. Here are some quick facts (through September 2011).

• Total operating revenues through September were $380 million, that’s $1.4 million above budget.

• Total operating expenses were $191.7 million, that’s $23 million or 10.7% under budget.

• Net Operating Income was $188.2 million, that’s $24.5 million or 14.9% above budget.

So, revenues are over budget, expenses are under budget and net income is nearly 15% over where we expected it would be in September.

Now, after four years on the commission, I’ve learned these numbers change between the third and the fourth quarters, but these figures through September demonstrate the port is in a solid position for this time of the year.

These statistics demonstrate the new, reformed focus on expenses and net operating income is producing tangible financial results. These reforms and results benefit everyone in King County. In particular, a strong port benefits the nearly 200,000 people across Washington state whose jobs are dependent on a thriving port in Seattle.

Here are a few more interesting stats:

• So far this year, SeaTac passenger traffic is 2.8% over budget and up 4.5% over 2010.

• Seaport operating revenues through September were $75.2 million, which is $1.7 million under budget. However, if some security grant issues are isolated from the budget, container and cruise business is higher than budget.

• Real Estate operating revenues were 3.9% above budget.

At a time when many governments are tapping reserves and dealing with credit downgrades, the Port of Seattle’s credit rating was upgraded. That is in part due to the new focus on generating net operating income and adding to reserves. Because of this financial discipline and performance, the port is in a position to refinance much of its debt at interest rates that are available because of its upgraded credit rating. That translates into savings for SeaTac passengers, airlines and King County taxpayers.

If you have friends who are interested in the port, please forward this report to them, and if you have any questions, please shoot me an email.

Thank you.