Port Of Seattle 2019 Budget Memo

ACTION ITEM Date of Meeting November 13, 2018 DATE: October 26, 2018 TO: Stephen P. Metruck, Executive Director FROM: Dan Thomas, Chief Financial Officer Michael Tong, Asst. Finance Director - Budget SUBJECT: Introduction and Public Hearing of Resolution No. 3751, adopting the final budget of the Port of Seattle for the Year 2019 ACTION REQUESTED Request Introduction and public hearing of Resolution No. 3751: A resolution of the Port Commission of the Port of Seattle adopting the final budget of the Port of Seattle for the year 2019; 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 2019. EXECUTIVE SUMMARY The 2019 business and budget planning process began in April. In the past few months, staff conducted budget work session, provided briefings/memo to the Commission on budget process, key budget assumptions, division business plans and budget development overview, preliminary operating budget, and preliminary capital budget. The preliminary budget document was provided to the Commission on October 23, 2018, and made available to the public on October 25, 2018. Staff recommends the following final budget process:  November 13, 2018 – First Reading of Resolution No. 3751 and…

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Call to order – Roll Call – Quorum Established – Land Acknowledgement We would like to acknowledge that our Agency operates in four present-day counties, which are the traditional lands of the Coast Salish people, past and present. This acknowledgement does not take the place of authentic relationships with indigenous communities in our jurisdiction and [...]