Budget Principles for June 4 budget retreat—draft from Mike Merritt

May 29, 2020

• Maintain solvency

• Prioritize spending on investments with long-term, sustainable community and

economic benefits

• Prioritize programs and projects that generate revenue

• Commitment to continuity of POS workforce; prioritize furloughs, leave without pay, pay

and hiring freezes over layoffs.

• Maintain a long-term strategic view of capital improvements

• Focus investments in achieving excellence in aviation and maritime gateways

• Continue to assess short- and long-term effects of COVID-19 on Port industries and

markets

• Continued commitment to equity and diversity

• Continued commitment to environment and sustainability, prioritizing spending on

mitigating direct Port impacts for 2020-21