2019 Port of Seattle CAFR

As of December 31, 2019 and 2018, and for the years ended December 31, 2019, 2018, and 2017 www.portseattle.org WASHINGTON STATE Port of Seattle ⁄ 2019 Comprehensive Annual Financial Report 2 Comprehensive Annual Financial Report As of December 31, 2019 and 2018, and for the years ended December 31, 2019, 2018, and 2017 Washington State This report was prepared by the Accounting and Financial Reporting Department Port of Seattle ⁄ 2019 Comprehensive Annual Financial Report 3 Table of Contents Introductory Section (Unaudited) Letter from the Leadership 7–9 Letter of Transmittal 10–14 Certificate of Achievement for Excellence in Financial Reporting 15 Organizational Chart for 2020 16 List of Elected and Appointed Officials in 2020 17 Financial Section Independent Auditor’s Report 21–22 Management’s Discussion and Analysis (Unaudited) 23–33 Basic Financial Statements: Enterprise Fund: Statement of Net Position as of December 31, 2019 and 2018 34–35 Statement of Revenues, Expenses, and Changes in Net Position for the Years Ended December 31, 2019, 2018, and 2017 36 Statement of Cash Flows for the Years Ended December 31, 2019, 2018, and 2017 37–38 Fiduciary Fund: Statement of Fiduciary Net Position as of December 31, 2019 and 2018 39 Statement of Changes in Fiduciary Net Position for the Years Ended December 31, 2019 and 2018 40 Notes to Financial Statements 41–92 Required Supplementary Information (Unaudited) Enterprise Fund: Schedule of Port of Seattle’s Proportionate Share of Net Pension Asset/Liability (NPA/NPL) 94 Schedule of Port of Seattle’s Contributions 95 Schedule of Changes in Total OPEB Liability and Related…
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