The budget also projects operating revenue of $375 million, the
port’s highest ever.
A total of $788 million in capital spending ― six percent
more than FY 2013 ― leads the planned expenses in the budget that covers the upcoming
fiscal year. The port’s modernization projects, including the Middle Harbor
terminal and Gerald Desmond Bridge Replacement, pushed the overall budget up by
6.6 percent compared to the current fiscal year.
The approved budget adds 52 new full-time positions,
including 33 in the Engineering Bureau to oversee the ongoing capital
improvements and 12 in the Security Division to enhance operational integration
with the Long Beach Police Department and other partnering security agencies.
Additionally, the budget sets aside $73 million for
environmental programs to improve air and water quality, as well as to protect
wildlife habitat.
Al Moro, the port’s Acting Executive Director, said the
budget incorporates a combination of prudent fiscal planning and ‘green growth’
that increases cargo flows with environmental sustainability programs.
“Our carefully planned 10-year capital improvement program
represents a significant investment in this port, and this annual budget is
just one part of that,” Moro said.
Early this month, the Port of Los Angeles adopted a 2013-14
fiscal year budget of about $1.1 billion, with about $400 million -- or 37
percent of the total budget – allotted for capital improvement.
The Port of LA’s new fiscal year begins July 1; Long Beach’s
starts Oct. 1.
