TABLE OF CONTENTS. Organization Budget Document Organization 1. I. Executive Summary I-1

Transcription

1 TABLE OF CONTENTS Organization Budget Document Organization 1 I. Executive Summary I-1 II. III. IV. Port View A. The Port of Seattle II-1 B. History of the Port of Seattle II-1 C. Facilities and Services II-2 D. Long Range Plan II-4 E. Commissioners and Officers II-11 F. Organization Chart II-12 Budget Overview A. Business Plan Overview III-1 B. Operating Budget Overview III-2 C. Budget Overview-Staffing III-7 D. Capital Budget Overview III-9 E. Tax Levy III-10 Aviation Division A Budget Summary IV-1 B. Business Plan Forecast IV-3 C. Division Business Assessment IV-4 D. Operating Budget Summary IV-6 E. Staffing IV-21 F. Capital Budget IV-25 G. Aviation Division Operating Statistics IV-34 V. Maritime Division A Budget Summary V-1 B. Business Plan Forecast V-3 C. Division Business Assessment V-3 D. Operating Budget Summary V-8 E. Staffing V-13 F. Capital Budget V-14 G. Maritime Division Operating Statistics V-15 VI. Economic Development Division A Budget Summary VI-1 B. Business Plan Forecast VI-3 C. Division Business Assessment VI-3 D. Operating Budget Summary VI-10 E. Staffing VI-15 F. Capital Budget VI-16 i

2 VII. Corporate A Budget Summary VII-1 B. Mission Statement VII-1 C. Key Functions and Responsibilities VII-2 D. Division Budget Summary VII-13 E. Staffing VII-17 F. Capital Budget VII-19 G. Corporate Summary VII-19 VIII. Tax Levy A. Tax At A Glance VIII-1 B. Tax Levy Sources VIII-1 C. Tax Levy Uses VIII-3 D. General Obligation Capacity VIII-6 E. Taxpayer Effect VIII-7 F. County Property Tax Comparison VIII-7 IX. Capital Budget IX-1 X. Draft Plan of Finance A. Introduction X-1 B. Overview of the Draft Plan of Finance X-1 C. Overview of the Funded Capital Plan X-2 D Funding Plan X-3 E. Financing Initiatives X-8 F. Capital Planning Resources X-9 XI. Statutory Budget A. Introduction XI-1 B. Statutory Budget Highlights XI-1 C. Resolution XI-2 D. Tax Levy Calculation Sheet XI-4 E. Forecasted Cash Flow Summary XI-6 XII. The Northwest Seaport Alliance (NWSA) XII-1 XIII. Appendices A. Budget Policy, Process and Calendar XIII-1 1. Operating Budget XIII-1 2. Capital Budget XIII-7 B. Financial Management Policies XIII Key Financial Tools XIII Financial Policies and Description of Major Funds XIII Revenue and Expense Assumptions XIII-19 C. Business Assessment XIII-20 D. Bond Amortization Schedules XIII-25 E. Other Detailed Expenditures XIII-29 F. Glossary of Terms Used XIII-30 G. Acronyms and Abbreviations XIII-37 ii

3 LIST OF TABLES Table I Budget Summary I-7 Table I-2 Cash Flow Summary I-8 Table II Operating Budget Century Agenda Strategies II-10 Table III-1 Port of Seattle Business Plan Forecast III-1 Table III-2 Revenues, Expenses, and Net Assets III-4 Table III-3 Revenues and Expenses by Account Category III-5 Table III-4 Port Staffing by Division III-8 Table III-5 Capital Budget III-9 Table IV-1 Aviation Division 2017 Cash Flow Summary IV-1 Table IV-2 Aviation Business Plan Forecast IV-3 Table IV-3 Aviation Key Measures IV-3 Table IV-4 Aviation Revenue by Account IV-17 Table IV-5 Aviation Operating & Maintenance Expenses by Account IV-18 Table IV-6 Aviation Revenue and Expense by Business Group/Department IV-19 Table IV-7 Aviation Division Staffing IV-21 Table IV-8 Aviation Division Capital Budget Summary IV-33 Table IV-9 Aviation Division Operating Statistics IV-34 Table V-1 Maritime Division 2017 Cash Flow Summary V-1 Table V-2 Maritime Business Plan Forecast V-3 Table V-3 Maritime Revenue by Account V-10 Table V-4 Maritime Operating & Maintenance Expenses by Account V-11 Table V-5 Maritime Revenue and Expense by Business Group/Department V-12 Table V-6 Maritime Division Staffing V-13 Table V-7 Maritime Division Capital Budget Summary V-14 Table V-8 Maritime Division Operating Statistics V-15 Table VI-1 Economic Development Division 2017 Cash Flow Summary VI-1 Table VI-2 Economic Development Division Business Plan Forecast VI-3 Table VI-3 Economic Development Revenue by Account VI-12 Table VI-4 Economic Development Operating & Maintenance Expenses By Account VI-13 Table VI-5 Economic Development Revenue and Expenses By Department VI-14 Table VI-6 Economic Development Division Staffing VI-15 Table VI-7 Economic Development Division Capital Budget Summary VI-16 Table VII-1 Corporate 2017 Budget Summary VII-1 Table VII-2 Administrative Expense by Department VII-14 Table VII-3 Corporate Revenues and Expenses by Account VII-16 Table VII-4 Corporate Division Staffing VII-18 Table VII-5 Corporate Capital Budget VII-19 Table VII-6 Corporate Summary VII-19 iii

4 Table VIII-1 Sources and Uses of Tax Levy VIII-4 Table VIII-2 Existing G.O. Bonds Debt Service By Projects and Group VIII-4 Table IX-1 Capital Budget IX-1 Table IX-2 Public Expense and Special Item Projects IX-5 Table IX-3 Non-Recurring Capital Budget Impact on the Operating Budget IX-6 Table X Airport Capital Projects X-4 Table X Airport Capital Projects Funding X-5 Table X Non-Airport Capital Projects Funding X-7 Table XI-1 Tax Levy Calculation Sheet XI-4 Table XI-2 Forecasted Cash Flow Summary XI-6 Table C-1 Summary Forecast XIII-21 Table C-2 State Employment by Industry XIII-22 Table C-3 Top 10 Public Companies in Washington XIII-23 Table D-1 Bond Amortization Schedules for 2016 XIII-25 Table D-2 Bond Amortization Schedules for 2017 XIII-27 Table E-1 Promotional Hosting by Division XIII-29 iv

5 LIST OF FIGURES Figure I-1 Sources of Funds I-9 Figure I-2 Uses of Funds I-9 Figure II-1 Facility Map II-3 Figure II Century Agenda Strategies II-10 Figure II-3 Organization Chart II-12 Figure III-1 Operating Revenues by Source: 2017 III-6 Figure III-2 Operating Expenses by Usage: 2017 III-6 Figure III-3 Port Staffing by Division III-8 Figure III Committed Capital Budget III-9 Figure III-5 Tax Levy vs. Millage Rate III-10 Figure IV-1 Aviation Division Sources of Cash IV-2 Figure IV-2 Aviation Division Uses of Cash IV-2 Figure IV-3 Aviation Division Revenue by Account IV-17 Figure IV-4 Aviation Division Expense by Account IV-18 Figure IV-5 Aviation Division Committed Capital Budget IV-33 Figure V-1 Maritime Division Sources of Cash V-2 Figure V-2 Maritime Division Uses of Cash V-2 Figure V-3 Maritime Division Revenue by Account V-10 Figure V-4 Maritime Division Expense by Account V-11 Figure V-5 Maritime Division Committed Capital Budget V-14 Figure VI-1 Economic Development Division Sources of Cash VI-2 Figure VI-2 Economic Development Division Uses of Cash VI-2 Figure VI-3 Economic Development Division Revenue by Account VI-12 Figure VI-4 Economic Development Division Expense by Account VI-13 Figure VI-5 Economic Development Division Committed Capital Budget VI-16 Figure VII-1 Administrative Expense by Department VII-15 Figure VII-2 Administrative Expense by Account VII-16 Figure VIII-1 Actual Tax Levy vs. Maximum Allowable Levy VIII-2 Figure VIII-2 Tax Levy vs. Millage Rate VIII-2 Figure VIII-3 King County Assessed Valuation vs. Port Millage Rate VIII-7 Figure VIII Percentage of Tax Levies By Taxing District VIII-7 Figure XI-1 Sources of Cash XI-7 Figure XI-2 Uses of Cash XI-7 Figure A-1 Operating Budget Process Flow Chart XIII-5 Figure A-2 Capital Budget Process Flow Chart XIII-8 v

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