COMMISSION
AGENDA MEMORANDUM
ACTION ITEM

Item No.
Date of Meeting

DATE:

October 30, 2026

TO:

Stephen P. Metruck, Executive Director

FROM:

Chris Wimsatt, Chief Financial Officer
Michael Tong, Director, Corporate Budget
Tam Dang, Corporate Budget Manager

10a
November 17, 2026

SUBJECT: Introduction and Public Hearing of Resolution No. 3853, Adopting the Final Budget
of the Port of Seattle for the Year 2027
ACTION REQUESTED
Request Introduction of, and hold a public hearing regarding, Resolution No. 3853: A resolution
of the Port Commission of the Port of Seattle adopting the final budget of the Port of Seattle for
the year 2027; 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 2027.
EXECUTIVE SUMMARY
The 2027 business and budget planning process began in May. In the past few months, staff
conducted budget work sessions, provided briefings to the Commission on budget process, key
budget assumptions, budget development overview, preliminary operating budget, and
preliminary capital budget. The preliminary 2027 Budget document was provided to the
Commission and made available to the public on October 20, 2026.
Staff recommend the following final budget process:
• November 17, 2026 - First Reading of Resolution No. 3839 and Public Hearing
• November 23, 2026 - Second Reading and Final Passage of Resolution No. 3853
• November 30, 2026 - Submittal of the 2027 Final Statutory Budget to the King County
Council and Assessor's Office.
• December 4, 2026 - Release of the final 2027 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
Template revised April 12, 2018.

COMMISSION AGENDA - Action Item No. 10a
Meeting Date: November 17, 2026

Page 2 of 2

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 2027 Budget on November 17,
2026, staff have provided 7 briefings to the Commission. The preliminary 2027 Budget was
provided to the Port Commission and made available to the general public on October 20, 2026.
An announcement of the preliminary budget and public hearing was made in the Daily Journal of
Commerce newspaper on October 30, 2026 and November 6, 2026.
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 2027
Budget and Draft Plan of Finance will be released to the public by December 4, 2026.
ATTACHMENTS TO THIS REQUEST
(1)
(2)

Draft Resolution No. 3853
Presentation slides

PREVIOUS COMMISSION ACTIONS OR BRIEFINGS
October 27, 2026 - 2027 Tax Levy and Draft Plan of Finance for 2027-2031 Briefing
October 13, 2026 - 2027 Maritime and Economic Development Divisions Operating and CIP
Budgets Briefing
October 13, 2026 - 2027 Aviation Division Operating and CIP Budgets Briefing
September 22, 2026 - Central Services 2027 Preliminary Budget and Port-wide Rollup Briefing
July 14, 2026 - 2027 Budget Development Briefing
June 23, 2026 - Commission Budget Study Session on Commission Priorities
March 12, 2026 - Commission Retreat on Resource Conscious & Levy Scenario

Template revised September 22, 2016.