Wednesday, June 6, 2012
Port of Long Beach approves bigger $942 mil budget for 2013
The Port of Long Beach's harbor commission approved a $942 million budget for its fiscal 2013, up 12 percent over the previous year, as part of a $4.4 billion facility modernization project over the next decade.
The 2013 budget calls for $720 million in capital spending, a 14 percent increase over last year, as the port said it in a statement that the additional investment pertains to its large construction projects that are underway on its middle harbor and the Gerald Desmond Bridge replacement,
The port announced it would add 25 new positions that would be tied primarily to the construction projects, but that there would be no salary increases for management, although there would be "contractually mandated increases for staff."
Another $104 million will go towards environmental infrastructure projects and related programs, according to the 2013 budget.
The port said it plans to reduce non-staff related costs by 5 percent.
"We are consciously changing our mindset to one of frugality," said the port's chief executive, Chris Lytle.
"We are trying to be smarter about all different aspects of what we do in our spending and our budget," he said.
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