2019 Budget & Tax Levy Presentation

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Port of Seattle

• 2019 Comprehensive Operating & Non-Operating Budget • 2019-2023 Capital Improvement Plan (CIP) • 2019 Staffing Summary • 2019 Sources and Uses of Funds • 2019 Proposed Tax Levy • Remaining 2019 Budget Schedule 2019 Key Initiatives Serving increased demand is a key budget driver Serve regional demand and maintain our global gateway. • Continue to improve safety & security • Continue to improve customer service • Serve regional demand for air service at Sea-Tac • Support the airport capital improvement program • Support Cruise passenger growth • Advance real estate development projects • Build capabilities through process improvement • Strengthen the Port’s Centers of Expertise 2019 Key Initiatives Budget resources support community priorities • EPA Grant for work with near-Port communities • Energy and Sustainability grants • Sustainable Aviation Fuels • Workforce development • Continue internship program and expand career connected learning • Supporting Fair Works Center at the Airport • Promote economic development for the region • Expand tourism opportunities • Diversity in Contracting and WMBE • Equity Program • Priority Hire • Expand stakeholder engagement Create equitable opportunities throughout the region and invest in healthy communities and environment. 2019 Budget Highlights The 2019 budget reflects the Port’s growth and continued investments for the region • Operating revenues are budgeted at $753.3M, $82.8M or 12.3% higher than 2018 budget, and $67.7M or 9.9% above 2018 forecast • Operating expenses are budgeted at $453.9M, $31.0M or 7.3% increase from 2018 budget, and $34.4M or 8.2% above 2018 forecast •…

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