Template revised September 22, 2016.
COMMISSION
AGENDA MEMORANDUM
Item No.
8a
ACTION ITEM
Date of Meeting
November 13, 2018
DATE: October 26, 2018
TO: Stephen P. Metruck, Executive Director
FROM: Dan Thomas, Chief Financial Officer
Michael Tong, Asst. Finance Director - Budget
SUBJECT: Introduction and Public Hearing of Resolution No. 3751, adopting the final budget of
the Port of Seattle for the Year 2019
ACTION REQUESTED
Request Introduction and public hearing of Resolution No. 3751: A resolution of the Port
Commission of the Port of Seattle adopting the final budget of the Port of Seattle for the year
2019; making, determining, and deciding the amount of taxes to be levied upon the current
assessment roll; providing payment of bond redemptions and interest, cost of future capital
improvements and acquisitions, and for such general purposes allowed by law which the Port
deems necessary; and directing the King County Council as to the specific sums to be levied on
all of the assessed property of the Port of Seattle District in the Year 2019.
EXECUTIVE SUMMARY
The 2019 business and budget planning process began in April. In the past few months, staff
conducted budget work session, provided briefings/memo to the Commission on budget
process, key budget assumptions, division business plans and budget development overview,
preliminary operating budget, and preliminary capital budget. The preliminary budget
document was provided to the Commission on October 23, 2018, and made available to the
public on October 25, 2018.
Staff recommends the following final budget process:
November 13, 2018 – First Reading of Resolution No. 3751 and Public Hearing
November 27, 2018 – Second Reading and Final Passage of Resolution No. 3751
December 3, 2018 – Submittal of the 2019 Final Statutory Budget to the King County
Council and Assessor’s Office.
December 14, 2018 – Release of the 2019 Final Budget and Draft Plan of Finance
document to the Public.
COMMISSION AGENDA – Action Item No. 8a Page 2 of 3
Meeting Date: November 13, 2018
Template revised September 22, 2016; format updates October 19, 2016.
ADDITIONAL BACKGROUND
The budget process includes planning, setting up and testing new budget modules in the
budget system, budget user training, department strategic and business planning, publishing
budget guidelines, establishing budget targets, entering budget data into the system, running
budget allocations and budget reports, conducting department and division reviews, executive
reviews, and Commission reviews, preparing and publishing the preliminary budget document,
a public hearing, adoption of the final budget, filing the statutory budget with the King County
Council and Assessor’s Office, and the preparation and release of the final budget document.
Prior to the First Reading and Public Hearing on November 13, 2018, staff has provided 11
briefings to the Commission. The 2019 preliminary budget was provided to the Port
Commission on October 23, 2018, and was made available to the general public on October 25,
2018. An announcement of the preliminary budget and public hearing was made in the Daily
Journal of Commerce newspaper on October 29, 2018.
After the public hearing and Commission adoption of a final plan, the statutory budget will be
filed with the King County Council and King County Assessor as required by law. The 2019 Final
Budget and Draft Plan of Finance will be released to the public on December 14, 2018.
ATTACHMENTS TO THIS REQUEST
(1) Draft Resolution No. 3751
(2) Presentation slides
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS
November 7, 2018 – The Commission was briefed on the 2019 Maritime and Economic
Development Capital Improvement Plan and Capital Funding.
October 23, 2018 – The Commission was briefed on the 2019 Economic Development
Division Preliminary Operating Budget.
October 9, 2018 – The Commission was briefed on the 2019 Aviation and Maritime
Preliminary Budgets.
October 9, 2018 – The Commission was briefed on the 2019 Central Services Preliminary
Capital Budget.
September 25, 2018 – The Commission was briefed on the 2019 Central Services
Preliminary Operating Budget.
September 24, 2018 – The Commission held a budget study session (Maritime and
Economic Development CIP and Capital Funding).
July 24, 2018 – The Commission was briefed on the 2019 Economic Development Division
Business Plan and Budget Development.
July 24, 2018 – The Commission held a pre-budget study session (Maritime and Economic
Development CIP and Capital Funding).
July 10, 2018 – The Commission was briefed on the 2019 Maritime Business Plan and
Budget Development.
COMMISSION AGENDA – Action Item No. 8a Page 3 of 3
Meeting Date: November 13, 2018
Template revised September 22, 2016; format updates October 19, 2016.
June 26, 2018 – The Commission was briefed on the 2019 Aviation Business Plan and Budget
Development.
May 22, 2018 – The Commission was briefed on the 2019 Budget Process and Development.
