Template revised September 22, 2016.
COMMISSION
AGENDA MEMORANDUM
Item No.
8a
ACTION ITEM
Date of Meeting
November 12, 2019
DATE: November 1, 2019
TO: Stephen P. Metruck, Executive Director
FROM: Dan Thomas, Chief Financial Officer
Michael Tong, Director, Corporate Budget
SUBJECT: Introduction and Public Hearing of Resolution No. 3763, adopting the final budget of
the Port of Seattle for the Year 2020
ACTION REQUESTED
Request Introduction and public hearing of Resolution No. 3763: A resolution of the Port
Commission of the Port of Seattle adopting the final budget of the Port of Seattle for the year
2020; 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 properties of the Port of Seattle District in the Year 2020.
EXECUTIVE SUMMARY
The 2020 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 2020 Budget
document was provided to the Commission on October 22, 2019, and made available to the
public on October 24, 2019.
Staff also hosted two open houses for community members to learn about the Port’s
preliminary 2020 budget and five-year capital development and investment plans – one at Pier
69 on October 22, 2019 and the other at the Airport Conference Center on October 28, 2019.
Staff shared information about investments at Sea-Tac Airport and in the Maritime and
Economic Development divisions. Staff also shared how the Port’s preliminary budget and five-
year capital development plans respond to regional need by improving customer service,
expanding economic activity across our region, and supporting healthy habitats and
communities.
Staff recommends the following final budget process:
• November 12, 2019 – First Reading of Resolution No. 3763 and Public Hearing
COMMISSION AGENDA – Action Item No. 8a Page 2 of 2
Meeting Date: November 12, 2019
Template revised September 22, 2016; format updates October 19, 2016.
• November 19, 2019 – Second Reading and Final Passage of Resolution No. 3763
• December 3, 2019 – Submittal of the 2020 Final Statutory Budget to the King County
Council and Assessor’s Office.
• December 13, 2019 – Release of the final 2020 Budget and Draft Plan of Finance
document to the Public.
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 Introduction and Public Hearing of the preliminary 2020 Budget on November 12,
2019, staff has provided 10 briefings to the Commission. The preliminary 2020 Budget was
provided to the Port Commission on October 22, 2019, and was made available to the general
public on October 24, 2019. An announcement of the preliminary budget and public hearing
was made in the Daily Journal of Commerce newspaper on October 30, 2019.
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 final 2020
Budget and Draft Plan of Finance will be released to the public by December 13, 2019.
ATTACHMENTS TO THIS REQUEST
(1) Draft Resolution No. 3763
(2) Presentation slides
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS
October 22, 2019 – 2020 Tax Levy and 2020-2024 Draft Plan of Finance Briefing
October 22, 2019 – Maritime and Economic Development 2020 -2024 CIP Briefing
October 8, 2019 – 2020 Maritime and Economic Development Divisions Operating Budgets
Briefing
October 8, 2019 (AM) – 2020 Aviation Division Operating and Capital Budgets Briefing
September 24, 2019 – 2020 Central Services Preliminary Budget Briefing
August 13, 2019 – 2020 Maritime and EDD CIP and Funding Discussion
July 9, 2019 – 2020 EDD Business Plan and Budget Development Briefing
June 25, 2019 – 2020 Maritime Business Plan and Budget Development Briefing
June 11, 2019 – 2020 Aviation Business Plan and Budget Development Briefing
June 4, 2019 – 2020 Budget Special Meeting
