COMMISSION 
AGENDA MEMORANDUM                Item No.       7b 
BRIEFING ITEM                   Date of Meeting    October 24, 2017 
DATE:    October 17, 2017 
TO:     Dave Soike, Interim Executive Director 
FROM:   Elizabeth Morrison, Director Corporate Finance 
SUBJECT:  Briefing on the Tax Levy and a Preliminary Capital Funding Plan Discussion for 2018-
2022 
EXECUTIVE SUMMARY 
This briefing is intended to inform the Commission's decision on the amount of the tax levy for
the 2018 budget year and to inform the Commission on the Port's funding of its 2018-2022 
Capital Improvement Plan (CIP). 
BACKGROUND 
Ports in Washington State have authority to levy taxes on property within the port district,
within certain statutory limits; the Port may use this strategic resource for any allowable port
purpose (other than the payment of revenue bond debt service). As part of the Port's budget
process, the Commission establishes the amount of taxes to be levied within the Port district
for the budget year. Staff will provide information on the uses of the tax levy and will seek
Commission guidance on the establishment of the 2018  tax levy amount.  Staff is
recommending that the tax levy remain at the current $72 million level for 2018. 
On October 10th, the operating divisions presented their operating budgets and their CIPs,
collectively the Port's CIP. As part of the annual budget process, staff provides a funding plan
for the Port's CIP. This funding plan  The Draft Plan of Finance  is updated each year for the
subsequent five-year CIP and provides information on the funding sources available to support
the CIP. The Draft Plan of Finance is intended to illustrate the Port's capacity to fund projects
based on the projected available resources and may result in a recommendation to adjust
project spending and/or adjust the tax levy. Staff has developed a Draft Plan of Finance for the
Airport which is a self-funding enterprise.  The Port's non-Airport operations  Maritime,
Economic Development and the Port's participation in the Northwest Seaport Alliance - share
funding resources. For the 2018-2022 periods, the full CIP exceeds available funding resources.
Staff has undertaken a funding prioritization process and will provide a recommendation that
seeks to balance near-term goals and needs with future flexibility. Staff will return with a
revised CIP and updated Draft Plan of Finance.


Template revised September 22, 2016.

COMMISSION AGENDA  Briefing Item No. 7b                       Page 2 of 2 
Meeting Date: October 24, 2017 
ATTACHMENTS TO THIS BRIEFING 
(1)   Presentation slides Tax Levy and Preliminary Funding Discussion 2018-2022 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
October 10, 2017  2018 Operating Division budgets briefing to the Commission 
September 26, 2017  2018 Corporate budget briefing to the Commission 
September 12, 2017  Non-Airport funding overview briefing to the Commission 
August 22, 2017  The Commission received the 2018 Budget Assumptions Memo 
June 13, 2017  The Commission conducted the 2018 Budget Work session 














Template revised September 22, 2016.