Ever wonder what the $6 Billion plus Port Authority of NY and NJ (http://www.panynj.gov/)is all about? Me too and I checked out some of the information on their website that I thought might be useful for the readers of this blog. I figured a good place to start would be the current 2010 budget.
The city of Hoboken being a transportation hub in the greater NYC metropolitan is very much dependent or at least affected in some way by the many of the projects that the Port Authority does as well as day to day operations. The Port Authority released in December 2009 for public review a preliminary $6.3 billion budget for 2010 which has since been approved by the board. That is a lot of money but none of it comes from taxes as the Port Authority raises money through tolls and its own line of credit for capital projects. Here is a summary for 2010 operating and capital budgets......
Major highlights of the Port Authority’s 2010 operating budget include:
- Zero growth in operating spending in 2010, continuing the fiscal discipline of the last several years. Operating spending growth was also 0 percent in 2009, 0.9 percent in 2008 and 1.1 percent in 2007.
- Headcount reduction of 150 positions, bringing staffing levels for 2010 to 6,977, the lowest in 40 years, compared to 7,127 in 2009.
- Cutting overtime by 20 percent, or $24 million, as a result of efficiencies and new management control strategies.
- Cutting the use of external consultants by 32 percent, or $15 million.
- Closing the Ramada Plaza Hotel at JFK International Airport because of declining aviation activity and a need for substantial renovation. The closing will save the agency $1 million per month.
- An investment of $444 million in operating costs for facility security and $326 in capital security projects, bringing the Port Authority’s total investment in security to $5.2 billion since 9/11.
- A commitment of $21 million toward ongoing conservation and environmental programs to reduce greenhouse gas emissions, a new Clean Trucks Program to finance replacement of older, more polluting trucks at the port facilities, and other regional investments in green projects.
Major highlights of the Port Authority’s 2010 capital budget include:
- Continuing development of the World Trade Center site.
- Investing in the continued construction of the ARC Tunnel project.
- Continuing investments in the PATH Modernization Program, including funds to continue to replace the 340-car fleet and to install a new signal system.
- Advancing the JFK Flight Delay Reduction Program, in addition to modernizing Stewart International Airport and planning for the future modernization of Terminal A at Newark Liberty International Airport and the Central Terminal Building at LaGuardia Airport.
- Continuing the 50-foot channel-deepening program in the Port of New York and New Jersey.
Here is the Port Authority Budget for 2010:
Port Authority Budget 2010
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View more documents from The Hoboken Journal.
