PORT OF SEATTLE 
MEMORANDUM 
COMMISSION AGENDA               Item No.       7b 
STAFF BRIEFING             Date of Meeting   October 14, 2014 

DATE:    September 26, 2014 
TO:     Ted J. Fick, Chief Executive Officer 
FROM:    Joe McWilliams, Managing Director Real Estate Division 
Boni Buringrud, Director Real Estate/Seaport Finance & Budget 
SUBJECT:  2015 Real Estate Division Operating and Capital Budgets Briefing 

SYNOPSIS: 
The purpose of this briefing is to discuss the 2015 Real Estate Division Operating and
Capital preliminary budgets. 
BACKGROUND: 
The Port is preparing the 2015 budget. The budget process includes setting up and testing
new budget modules in the budget system, budget user training, department and division
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,
publishing the preliminary budget for public comments, adopting 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. 
On October 14, 2014 staff will brief the Commission on the Real Estate Division Operating
and Capital preliminary budgets. 
OTHER DOCUMENTS ASSOCIATED WITH THIS BRIEFING: 
PowerPoint Presentation. 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS: 
October 7, 2014  Aviation Operating & Capital Budgets Briefing 
September 30, 2014  2015 Corporate and CDD Budgets Briefing 
September 11, 2014  2015 Payroll Budget Assumptions Briefing 
August 19  2015 Tourism and OSR Strategies/Programs Discussion. 
August 5, 2014  2015 Seaport and Real Estate Business Plans Discussion. 
July 29, 2014  2015 Aviation Business Plan Discussion. 
June 10, 2014  Briefing on 2015 Business Plan and Budget Process.