Minutes
Commissioners Tay Yoshitani Chief Executive Officer Bill Bryant Chair and President John Creighton P.O. Box 1209 Patricia Davis Seattle, Washington 98111 Lloyd Hara www. portseattle.org Gael Tarleton 206.728.3000 An audio of the meeting proceedings and meeting materials are available on the Port of Seattle web site - http://www.portseattle.org/about/organization/commission/commission.shtml (The approximate point in the audio recording for the specific item is identified by minutes and seconds; example: 01:30.) APPROVED MINUTES COMMISSION SPECIAL MEETING MAY 19, 2009 The Port of Seattle Commission met in a special meeting at 1:30 p.m., Tuesday, May 19, 2009 in the Commission Chambers at Pier 69, 2711 Alaskan Way, Seattle, WA. Commissioners Bryant, Creighton, Davis, Hara and Tarleton were present. 1. CALL TO ORDER The special meeting was called to order at 1:37 p.m. by Bill Bryant, Chair and President. 2. EXECUTIVE SESSION pursuant to RCW 42.30.110 None. PLEDGE OF ALLEGIANCE 3. APPROVAL OF MINUTES None. 4. SPECIAL ORDER OF BUSINESS None. 5. UNANIMOUS CONSENT CALENDAR None. May 19 SM Min PORT COMMISSION MINUTES OF THE SPECIAL MEETING TUESDAY, MAY 19, 2009 P. 2 6. DIVISION, CORPORATE, AND COMMISSION ACTION ITEMS None. 7. STAFF BRIEFINGS None. 8. NEW BUSINESS None. 9. POLICY ROUNDTABLE BUDGET DISCUSSION a. (00:02:34) First Quarter Performance Report Presentation documents: Commission agenda memorandum dated May 19, 2009, computer slide presentation and Quarterly Performance Report from Michael Tong, Corporate Budget Manager Presenters: Dan Thomas, Chief Financial Officer; Mark Reis, Managing Director, Aviation Division; Phil Lutes, Deputy Managing Director, Seaport Division; Joe McWilliams, Managing Director, Real Estate and Property Management; and Ralph Graves, Managing Director, Capital Development Division. Mr. Thomas provided a Portwide Income Summary for the first quarter of 2009 as well as a Portwide Year-end forecast and totals of 2009 capital spending for first quarter. Mr. Reis reviewed first quarter operating results for the Aviation Division as well as the division's year-end forecast and capital budget spending. Responding to Commissioner Tarleton's question about what areas of operations he felt to be most at risk due to budget cuts, Mr. Reis stated that he does not really feel any revenues are at risk, but did note that customer service is being affected on a daily basis. Responding to Commissioner Hara's question regarding possible expanded potential revenues for the future, Mr. Reis commented on the possibility of additional advertising as well as additional concessions. Mr. Lutes reviewed details of the Seaport first quarter operating results; the year-end forecast; and capital spending of the division. Responding to staff comments on budget results being attributed to timing, Commissioner Bryant stated that he would prefer budgets being planned out over a month-to-month basis as opposed to being 'straightlined' or equally spread out over the year. May 19 SM Min PORT COMMISSION MINUTES OF THE SPECIAL MEETING TUESDAY, MAY 19, 2009 P. 3 Commissioner Tarleton stated that she would like to see tracked on a quarterly basis, trends within the fishing and grain industries. Mr. McWilliams provided a briefing on first quarter Real Estate operating results; yearend forecast; and capital spending. Commissioner Tarleton noted the importance of the Port weighing in on long-term strategies for the working waterfront and properties that are part of an urban port.. Mr. Graves provided a brief update on the operating results of the Capital Development Division for first quarter of 2009. Mr. Thomas reviewed the Corporate Division operating results for first quarter of 2009 as well as year-end projections. b. (01:08:46) 2010 budget Planning Briefing Presentation Documents: Commission agenda memorandum dated May 19, 2009 and computer slide presentation from Dan Thomas, Chief Financial Officer and Michael Tong, Corporate Budget Manager Presenter: Dan Thomas, Chief Financial Officer Mr. Thomas review an overview of the 2010 budget planning process, including information regarding: 2010 Budget Challenges Proposed 2010 Budget Targets Zero Based Budgeting and Modified Zero Based Budgeting Process 2010 Budget Calendar Commissioner Tarleton commented on the need to look at strategies other than furloughs for 2010. Mr. Thomas noted that budget information available later in the year will be more accurate than what will be available initially. Commissioner Bryant stated that he would like to have another discussion of the budget in June. He also asked that in order to provide adequate time for a thorough review, it might be possible for Commissioners receive budget documents 30 days in advance of the budget workshops that will take place later in the budget planning process. c. (01:41:57) Budget Discussion May 19 SM Min PORT COMMISSION MINUTES OF THE SPECIAL MEETING TUESDAY, MAY 19, 2009 P. 4 Mr. Thomas provided as background information for discussion, two computer slides from the 2009 budget and tax levy presentations. Although there was no further discussion, Commissioner Bryant stated that he hoped to have a budget discussion at least once a month between the current time and September, when tax levy workshops would begin. 10. ADJOURNMENT There being no further business, the meeting was adjourned at 3:28 p.m. (A digital recording of the meeting is available on the Port's website.) Lloyd Hara Secretary May 19 SM Min
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