COMMISSION 
AGENDA MEMORANDUM                Item No.       6d 
ACTION ITEM                   Date of Meeting   November 22, 2016 
DATE:    November 3, 2016 
TO:     Ted Fick, Chief Executive Officer 
FROM:   Dan Thomas, Chief Financial Officer 
Michael Tong, Asst. Finance Director - Budget 
SUBJECT:  Second Reading and Final Passage of Resolution No. 3726, adopting the final budget
of the Port of Seattle for the Year 2017, as amended 
ACTION REQUESTED 
Request Second Reading and Final Passage of Resolution No. 3726, 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 2017; 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 2017. 
EXECUTIVE SUMMARY 
The 2017 business and budget planning process began in April. In the past few months, staff
provided seven briefings to the Commission on the Strategic Positioning for Growth (SPG)
budgeting initiative process and outcomes, key budget assumptions, budget overview,
preliminary operating and capital budget. Based on the input and comments from the
Commission in the briefings, staff incorporated the suggested changes into the preliminary
numbers. The preliminary budget document was provided to the Commission on October 18,
2016, and made available to the public on October 20, 2016.
Staff recommends the following final budget process: 
(1)   November 22, 2016  Second Reading and Final Passage of Resolution No. 3726, as
amended. 
(2)   December 2, 2016  Submittal of the 2017 Final Statutory Budget to the King County
Council and Assessor's Office. 
(3)   December 15, 2016  Release of the 2017 Final Budget and Draft Plan of Finance
document to the Public. 


Template revised September 22, 2016.

COMMISSION AGENDA  Action Item No. 6d                       Page 2 of 2 
Meeting Date: November 22, 2016 
ADDITIONAL BACKGROUND 
The budget process includes planning, setting up and testing new budget modules in the
budget system, budget user training, department 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 First Reading and Public Hearing on November 8, 2016, staff have provided 7
briefings to the Commission. The 2017 preliminary budget was provided to the Port
Commission on October 18, 2016, and was made available to the general public on October 20,
2016. An announcement of the preliminary budget and public hearing was made in the Daily
Journal of Commerce newspaper on October 24 and October 31, 2016. Additionally, staff
presented an update on the tax levy and draft plan of finance 2017-2021 prior to the First
Reading action on November 8, 2016.
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 2017 Final
Budget and Draft Plan of Finance will be released to the public on December 15, 2016. 
ATTACHMENTS TO THIS REQUEST 
(1)   Draft Resolution No. 3726, as amended 
(2)   Presentation slides: 2017 Preliminary Budget Second Reading and Final Passage 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
November 8, 2016  The Commission approved First Reading and held Public Hearing of
Resolution No. 3726, adopting the final budget of the Port of Seattle for the year 2017 
October 10, 2016  The Commission was briefed on the 2017 Division Operating and Capital
Budgets 
September 27, 2016  The Commission was briefed on the 2017 Corporate Budget 
September 13, 2016  The Commission was briefed on the 2017 Budget Overview and Key
Assumptions 
August 19, 2016  The Commission was provided a briefing document regarding key budget
assumptions for 2017 
August 9, 2016  The Commission approved the Long Range Plan 
July 26, 2016  The Commission was briefed on the Long-Range Plan, Century Agenda
Dashboard Overview, and Budget Considerations beyond the Long-Range Plan 
June 14, 2016  The Commission was briefed on the Strategic Positioning for Growth
Budgeting Initiative 


Template revised September 22, 2016; format updates October 19, 2016.