PORT OF SEATTLE 
MEMORANDUM 
COMMISSION AGENDA               Item No.      6b 
ACTION ITEM 
Date of Meeting    November 24, 2015 
DATE:    November 11, 2015 
TO:      Ted Fick, Chief Executive Officer 
FROM:   Dan Thomas, Chief Financial Officer 
Michael Tong, Assistant Finance Director - Budget 
SUBJECT:  Resolution No. 3713, as Amended, adopting the final budget of the Port of Seattle
for the Year 2016; making, determining, and deciding the amount of taxes to be
levied upon the current assessment roll; and directing the King County Council as
to the specific sums to be levied on all of the assessed property of the Port of
Seattle District in the Year 2016. 
ACTION REQUESTED 
Request Second Reading and Final Passage of Resolution No. 3713, as Amended: A resolution
of the Port Commission of the Port of Seattle adopting the final budget of the Port of Seattle for
the year 2016; 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 property of the Port of Seattle District in the Year 2016. 
SYNOPSIS 
The 2016 business and budget planning process began in April. In the past few months, staff
provided 9 briefings to the Commission on the 2016 business plan and budget process, division
business plans, key budget assumptions, preliminary operating and capital budget, tax levy and
draft plan of finance. Based on the input and comments from the Commission in the briefings,
staff incorporated the suggested changes into the preliminary numbers. The preliminary budget
was prepared for the Commission on October 20, 2015, and made available to the public on
October 22, 2015. 
As directed by the Commission, staff made the following three changes that were not reflected in
the presentation package for First Reading of the budget on November 10: 
1)  Reduced the 2016 proposed Tax Levy from $73.0 million to $72.0 million; 
2)  Updated the budget to reflect the 6-month extension of the Port Jobs contract for the
Apprenticeship Opportunity Program ($100 thousand); and 
3)  Revised funding of Workforce Development initiatives to the Tax Levy. 

Template revised May 30, 2013.

COMMISSION AGENDA 
Ted Fick, Chief Executive Officer 
November 11, 2015 
Page 2 of 2 
Staff recommends the following final budget process: 
November 24, 2015  Second Reading and Final Passage of Resolution No. 3713, as
Amended. 
December 3, 2015  Submittal of the 2016 Final Statutory Budget to the King County
Council and Assessor's Office. 
December 11, 2015  Release of the 2016 Final Budget and Draft Plan of Finance to the
Public 
BACKGROUND 
The budget process includes planning, 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, 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 Second Reading and Public Hearing on November 24, 2014, staff have provided 9
briefings to the Commission. The 2016 preliminary budget was prepared for and provided to the
Port Commission on October 20, 2015, and was made available to the general public on October
22, 2015. An announcement of the preliminary budget and public hearing was made in the Daily
Journal of Commerce newspaper on October 26 and November 2, 2015.
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 2016
Final Budget and Draft Plan of Finance will be released to the public on December 11, 2015. 
ATTACHMENTS TO THIS REQUEST 
Resolution No. 3713, as Amended. 
PowerPoint: 2016 Preliminary Budget Second Reading and Final Passage. 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
November 10, 2015  First Budget Reading and Public Hearing. 
October 27, 2015  Briefing on the Preliminary Tax Levy and the Draft Plan of Finance
2016-2020. 
October 13, 2015  2016 Aviation, Maritime, and Economic Development Operating
and Capital Budgets Briefing. 
September 22, 2015  2016 Corporate Budget Briefing. 
September 8, 2015  2016 Key Budget Assumptions Briefing. 
September 8, 2015  2016 Economic Development Business Plan Discussion. 
July 9, 2015  2016 Maritime Business Plan Discussion. 
May 26, 2015  2016 Aviation Business Plan Discussion. 
May 12, 2015  2016 Business Plan and Budget Process Briefing.