ITEM NO.

_7c_Supp________

DATE OF
MEETING: June 7, 2011

Port of Seattle
2012 Budget Process Briefing
June 7, 2011

2012 Budget Process Overview
• Assess business environment and industry conditions
• Develop key assumptions, drivers and targets
• Issue budget calendar and guidelines

• Update division business plans
• Prepare operating and capital budgets
• Develop funding plans
• Review and approve budgets
• File Statutory Budget
2

2012 Budget Calendar
August
• Commission briefing on Q2 performance on 8/2
• Issue 2012 Budget Guidelines on 8/5
• Commission briefing on budget assumptions on 8/16
• Commission workshops on division business and capital
plans on 8/16
• Formal budget entries on 8/17

3

2012 Budget Calendar Con't.
September
• Prepare preliminary operating & capital budgets
• Internal budget reviews by each dept & division
• Executive preliminary budget reviews (9/19 - 9/22)

• Commission capital budgets workshops on 9/27

4

2012 Budget Calendar Con't.
October

• Commission operating budget workshop on 10/4
• Preliminary budget document available to the Commission
on 10/18

• Commission Draft Plan of Finance workshop on 10/25
• Release 2012 Preliminary Budget and Draft Plan of Finance
Document to the public on 10/27

5

2012 Budget Calendar Con't.
November
• First reading of budget resolution(s) on 11/8

• Second reading of budget resolution(s) on 11/22
December

• File statutory budget on 12/1
• Release 2012 Final Budget and Draft Plan of Finance
Document to the public by 12/14
6

Port of Seattle
2012 Budget Process Briefing
June 7, 2011