TH E MANAGEM ENT OF
RECEIVABLES
Accounting and Financial Reporting
Revenue Services

The Port has 17 different types of revenue streams. Amounts billed are derived from Leases and/or Published
Tariffs.
Airfield
Cargo Piers
Container
Ground Access
Group Insurance
Harbor Services
Shilshole Bay Marina
Fishermen's Terminal
Bell Harbor Marina
Harbor Island
Maritime Industrial Center
House Rentals
ID Access (Port Badge Billing)
Leases
Airport (307 Active Leases)
Seaport ( 83 Active Leases)
Real Estate (175 Active Leases)
The average total of billing produced monthly is 
2008 Total # Invoices Billed = 4377 Total Average Monthly Total Billed = $42,229,987.89
2009 Total # Invoices Billed = 4504 Total Average Monthly Total Billed = $42,054,313.06

Relative to the total monthly invoices mailed out on a monthly basis, our daily sales outstanding average between
5 and 7 days.
Customer balances listed in the Other column are directly related to accounts that are under bankruptcy
protection, we have exhausted all efforts to collect so we had no other alternative but to send the account to a
third party collection agency or the charges are in dispute and waiting to be resolved.
Accounts Receivable Aged Trial Balance As Of 12/31/2008
TOTAL    FUTURE   <30 DAYS   31-60    61-90    91-120    OTHER    TOTAL #
DAYS     DAYS     DAYS           Customers

$7,152,601  (2,019,606)   7,894,842    253,541    134,992     13,996    873,836    1297

Past Due Percentage To Total                      1.9%       .2%       12.2%

Accounts Receivable Aged Trial Balance As Of 12/31/2009
TOTAL    FUTURE   <30 DAYS   31-60    61-90    91-120    OTHER    TOTAL #
DAYS     DAYS     DAYS           Customers

$6,852,901  (1,106,536)   4,681,396   1,376,896     30,086     43,214   1,827,846    1111

.4%       .6%      26.6%
Past Due Percentage To Total

Effective late 2009 the Commission approved a "Customer Care Package" for Eagle Marine, SSA
Terminals and Total Terminals. This agreement provides an extension to the current due dates by 30
days.

Revenue Services uses a
variety of tools to collect
past due balances.

Run Aged Trial Balance Detail Report monthly.
Automatic 1st Letter generated and mailed for past due accounts.
Finance Charges and Late Fees are assessed, posted and then
mailed.
AFR Collectors make phone calls and/or sends out an e-mail
message for all past due accounts.
No response  Final Demand Letter is sent.
Site visit and request/collect funds in person.

At 60 days late options are 
Notify Port Legal Department and Responsible Department
File against surety,
Send to Third Party Collection Agency.
For Lease Customers notify Property Management to Place
Customer in Default of Lease Terms.
For Airport Customers  Options available are to revoke and
deny use of equipment, badges, parking cards, etc.
For the Seaport, Harbor Services  Options available are to put a
lien against the vessel, have the vessel arrested, etc.
Last resort the account is written off to bad debt expense.
In accordance with 3605, EX-2, (Delegation of Authority) our
bad debt expense has been minimal over the past two years.
2008 = $18k     2009 = $51k