Port of South Whidbey officials expect to break even next year.

The commissioners will hold a public hearing today, Wednesday Nov. 12, on the 2015 budget during the board’s regular monthly meeting. Although usually held Tuesdays, the meeting was rescheduled due to Veterans Day and begins at 7 p.m. at the South Whidbey Parks & Recreation Building, 5475 Maxwelton Road, Langley.

According to a preliminary budget, which was adopted by the board at a recent special meeting, the port expects to earn about $1.17 million in operating and capital revenues, while spending about $1.14 million in recurring and capital expenses. That leaves an approximate $30,000 positive balance, and an ending cash balance of about $550,000, budget documents indicate.

Port officials are anticipating the largest revenue increases in grants, $327,000 compared to $216,000 budgeted in 2014, and at Possession Park, taking in an expected $26,000 over last year’s budgeted $14,000 though as of Aug. 31 only $190 had been earned.

South Whidbey Harbor, which just saw the completion of phase one of a redevelopment project, is expected to see modest gains in revenue — $225,000 in 2015 to $222,000 budgeted in 2014. Again, however, as of Aug. 31, the marina had only earned $135,000.

As for expenses, administrative and capital costs will increase from a budgeted $673,000 (over $1 million as of Aug. 31) last year to about $886,000 in 2015. The difference is largely due to marina construction costs.

The port will also see decreases in spending at facilities at Bush Point, Clinton Beach, Humphrey Road and Possession Park, which is primarily the result of a reorganization of the port’s employee structure.