The Port Authority of Guam Board of Directors on Thursday unanimously approved the agency’s Fiscal Year 2026 budget, projecting continued revenue growth and financial stability while supporting major capital improvement projects. The $57.1 million revenue plan marks a $2.9 million increase from FY 2025.
The Port expects total expenses of $56.6 million, including $5.7 million in annual debt service, resulting in a projected debt service coverage ratio of 1.99. Net income is forecast at $4.6 million, excluding revenues from the Crane Surcharge and Facility Maintenance Fees. Officials said the budget was crafted using Zero-Based Budgeting and growth factors, with a six percent increase projected in cargo-related proceeds.
General Manager Rory J. Respicio credited the Port’s “bottom-up” approach for ensuring fiscal accountability. “Our bottom-up approach to budgeting has kept the Port on a path of accountability, transparency, and fiscal prudence,” Respicio said. He thanked the governor, lieutenant governor, the board, and Port employees for their role in maintaining discipline and growth.
The FY 2026 budget also funds critical capital projects aimed at strengthening resiliency and expanding capacity, including multimillion-dollar maintenance of key facilities, waterline replacement, and upgrades to financial management and operating systems. Future capital priorities include new gantry cranes, wharf service life extensions, and rail upgrades. Officials emphasized that consistent revenue performance and controlled spending provide confidence in meeting financial and operational goals.