PORT OF SEATTLE 
MEMORANDUM 

COMMISSION AGENDA 
Item No.            6a 
Date of Meeting    November 22, 2011 
DATE:      November 4, 2011 
TO:         Tay Yoshitani, Chief Executive Officer 
FROM:     Dan Thomas, Chief Financial and Administrative Officer 
Michael Tong, Corporate Budget Manager 
SUBJECT:   Resolution No. 3654, as amended, Second Reading and Final Passage of
Port of Seattle 2012 Budget 

ACTION REQUESTED: 
Second Reading and Final Passage of 2012 Budget Resolution No. 3654, 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 2012; 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 2012. 
BACKGROUND: 
The Port has prepared the Port of Seattle Preliminary 2012 Budget, and a Notice of Public
Hearing was published in the Seattle Daily Journal of Commerce on October 24 and October 31,
2010, as required by statute. This notice included the information that copies of the preliminary
budget would be available to the general public at Pier 69 on October 27, 2011. The 2012 
budget process includes publishing budget guidelines, conducting an executive review,
discussing the budget in a number of Commission meetings, holding two public hearings, and
preparing the final budget document after the Second Reading and Final Passage of the budget
resolution. 
Staff recommends the following Final Budget process: 
November 22, 2011  Second Reading and Final Passage of Resolution No. 3654, as amended. 
December 1, 2011  Submittal of the Final 2012 Budget to the King County Council and
Assessor. 
December 14, 2011  Release of the Final 2012 Budget and Draft Plan of Finance to the public.

COMMISSION AGENDA 
Tay Yoshitani, Chief Executive Officer 
November 16, 2011 
Page 2 of 2 

OTHER DOCUMENTS ASSOCIATED WITH THIS REQUEST: 
Resolution No. 3654, as amended. 
PowerPoint: 2012 Preliminary Budget  Second Reading and Final Passage (including
description of changes since First reading). 
PREVIOUS COMMISSION ACTION OR BRIEFINGS: 
June 7, 2011  Budget Process Briefing. 
August 16, 2011  Budget Assumptions, Business Plan, and Capital Plan Briefings. 
September 27, 2011  Capital Budget Briefing. 
October 4, 2011  Preliminary Operating Budget Briefing. 
October 25, 2011  Draft Plan of Finance, Tax Levy, and Operating Budget Follow-up Briefings. 
November 8, 2011  First Reading of Resolution No. 3654.