Item No. 11a_supp
Meeting Date: July 27, 2021
Port of Seattle
2022 Budget Development Briefing
July 27, 2021


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Agenda
2022 Budget Guiding Principles
2022 Budget Strategies
2022 Budget Process Overview
2022 Key Budget Dates


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2022 Budget Guiding Principles
Continue to focus on the health and safety of employees,
customers and the public with increased utilization of Port facilities
Ensure the efficient operation of Port business gateways as
business volumes recover
Support regional equitable economic recovery through advancing
the Port's capital improvement plan and continued investment in
community programs
Assess the longer-term effects of COVID-19 on Port operations and
facility needs
Invest in employee development, retention, and recruitment
Need to be adaptable and flexible to the changing business
environment
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2022 Budget Strategies
Maintain expense growth in line with projected revenue
growth
Reassess staffing needs considering projected increases in
business activity
Restore merit pay increases for non-represented staff and
increase expenditures for training and development
Begin to incorporate an equity lens in developing and
reviewing budgets and operational plans
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2022 Budget Process Overview
Environmental Assessment
Assess business environment and needs
Update operating and capital forecasts
Conduct SWOT analysis
Budget Preparation
Develop budget assumptions and drivers
Identify key financial metrics and budget targets
Issue budget calendar and departmental guidelines
Prepare operating and capital budgets in accordance with principles and guidelines
Budget Reviews and Approvals
Conduct internal department and division budget reviews
Publish the preliminary budget document to the public
Commission review and approval of budgets/capital plans
Final Steps
File the Statutory Budget with King county
Publish the final budget document to the public
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2022 Budget Key Dates
(Commission Items in Blue)
5/21  2022 Budget Planning Discussion with ELT
6/03  Commission Budget Retreat
7/13  2022 Budget Process and Schedule Commission Briefing
7/14  2022 Budget Guidelines available
7/29  Commission Budget Retreat
8/06  Central Services Department new budget requests due to F&B
8/18  08/25: Executive review of Central Services Department Budgets/New Requests
9/01  Executive review of combined Central Services Budget
9/13  Executive review of Maritime and EDD Operating & Capital Budgets
9/14  2022 North Harbor Budget to the NWSA
9/15  Executive review of Aviation Operating & Capital Budgets

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2022 Budget Key Dates
(Commission Items in Blue)
09/28  Central Services Budget and Port wide Budget Overview Commission briefing
10/12  Operating Divisions Commission Budget Study Session
10/15  POS/NWSA ILA Service Directives due to the NWSA
10/19  2022 Preliminary Budget Document available to Commission
10/21  2022 Preliminary Budget Document available to the public
10/26  Tax Levy & Draft Plan of Finance Commission briefing
10/28  NWSA Budget study session with Managing Members
11/09  NWSA Budget adoption by Managing Members
11/09  Introduction of preliminary 2022 Budget and public hearing
11/16  Adoption of 2022 Budget
12/01  File the 2022 Statutory Budget with King county
12/15  Publish the 2022 Final Budget to the public

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