7a supp
ITEM NO: 7a_Supp_1 DATE OF MEETING: May 07, 2015 2016 Business Plan and Budget Process Briefing May 12, 2015 2016 Budget Process Overview Assess business environment and industry conditions Update division business plans Develop key assumptions, drivers and targets Issue budget calendar and guidelines Develop Long Range Plan Prepare operating and capital budgets Develop funding plans Review and approve budgets/funding plans and Long Range Plan File Statutory Budget Northwest Seaport Alliance budget and business planning schedule TBD New this year is development of Long Range Plan bridging Century Agenda objectives to mid-range planning horizon. 2 2016 Budget Calendar Commission briefings highlighted in blue April & May 05/12 - Commission briefing: 2016 business plan and budget process 05/15 - Aviation division written business plan available to Commission 05/26 - Commission briefing: Aviation division business plan 05/29 - Maritime division written business plan available to Commission Written business plan materials available to Commissioners in advance of public briefings. 3 2016 Budget Calendar - Con't. June & July 06/09 - Commission briefing: Maritime division business plan 07/02 Economic Development written business plan available to Commission 07/14 Commission briefing: Economic Development division business plan Requested: Three hour Commission workshop on Long Range Plan Opportunity for Commission workshop to provide input into Long Range Plan. 4 2016 Budget Calendar - Con't. August 08/11 - Commission briefing: Q2 Financial Performance 08/14 - "Final" pay for performance and benefit rates available for budget input 08/25 - 2016 budget assumptions memo/briefing to the Commission 2016 budget assumptions available to Commission by August 25. 5 2016 Budget Calendar - Con't. September Staff prepares operating and capital plans Prepare Draft Long Range Plan Division and Executive reviews of budgets, capital plans and Long Range Plan 09/22 - Commission briefing: Corporate budget 9/30 - Draft Long Range Plan submitted to Commission Executive and Commission budget reviews begin in September. 6 2016 Budget Calendar - Con't October 10/02 Requested Special Meeting: Commission briefing on Aviation division budget 10/13 Commission briefing: Maritime and Economic Development budgets, Draft Long Range Plan 10/20 - 2016 Preliminary Budget document available to the Commission 10/22 Public release of 2016 Preliminary Budget document 10/26 - Publish public notice on budget 10/27 - Commission briefing: Tax levy & Draft Plan of Finance 2016 preliminary budget will be available to the public on 10/22. 7 2016 Budget Calendar - Con't. November 11/10 First reading of budget resolution and public hearing 11/24 - Second reading and final passage December 12/03 - File statutory budget with King county 12/11 - Publish the 2016 Final Budget document First and second budget readings in November. 8
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