Commissioners                                             Tay Yoshitani
Chief Executive Officer
John Creighton
Chair and President
Bill Bryant                                   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 WORK SESSION OCTOBER 9, 2008 
The Port of Seattle Commission met in a work session at 3:00 p.m., Thursday, October 9,
2008 in the Commission Chambers at Pier 69, 2711 Alaskan Way, Seattle, WA.
Commissioners Bryant, Hara and Tarleton were present. Commissioners Creighton and
Davis were absent.
1.     CALL TO ORDER 
The special work session was called to order at 3:05 p.m. by Lloyd Hara, Vice-president.
EXECUTIVE SESSION pursuant to RCW 42.30.110 
None.
PLEDGE OF ALLEGIANCE 
2.    (00:02:02) Briefing on Corporate and Capital Development (CDD)
Operating and Capital Budgets
Presentation Documents: Commission agenda memorandum dated October 6, 2008 from
Michael Tong, Corporate Budget Manager and Janice Marsters, Assistant Director,
Aviation Project Management Group and computer slide presentation titled, "Port of
Seattle 2009 Preliminary Budget."
Presenters: Mr. Tong and Ralph Graves, Managing Director, CDD and Ms. Marsters
Prior to the presentation, Dan Thomas, Chief Financial Officer and Elizabeth Morrison,
Senior Manager, Corporate Finance provided a brief overview of the current financial
situation and the implications to the Port.

Oct 9 SWS Min

PORT COMMISSION MINUTES OF THE SPECIAL WORK SESSION
THURSDAY, OCTOBER 9, 2008                       P. 2
Staff introduced Dick Schober of Seattle Northwest Securities, who provided more indepth
information on the status of the short-term market in general, and Ms. Morrison
then provided further information on the long-term market.
Mr. Thomas reiterated the fact that the Port is in a very solid financial position with a
strong balance sheet, and that revenues are holding up well.
Following the initial overview, the following topics were discussed:
(00:26:04) Corporate Budget: 
Corporate Changes
2009 Budget Approach
Initial Budget Target
Preliminary Budget Summary
2009 Budget Major Changes
2009 Budget Challenges
2009 Budget Additions
2009 Corporate Budget
2009 Full Time Equivalents (FTEs)
Risks
2009 Corporate 5-year Capital Budget
Remaining Schedule
(01:07:45) Capital Development Division
Priorities for 2009
Key Budget Assumptions
Organizational Chart
Division Expense Budget
Org Expenses by Group
Funded Initiatives
New Staff Requests
Full Time Equivalents (FTEs)
Risks
Opportunities
3.    ADJOURNMENT
There being no further business, the meeting was adjourned at 4:50 p.m.
(A digital recording of the meeting is available on the Port's website.)

Bill Bryant
Secretary

Oct 9 SWS Min