N.Y.-N.J. port cuts jobs, funds 50-foot channel

N.Y.-N.J. port cuts jobs, funds 50-foot channel    The Port Authority of New York and New Jersey said it would continue to fund the 50-foot channel-deepening program to its marine terminals in 2010 even as it calls for a second consecutive year of zero growth in operating expense.
   The port said its preliminary $6.3 billion budget for 2010 includes $3.1 billion in capital projects, $2.5 billion in operating expenses, $689 million for debt service and $44 million for other expenses, such as heavy vehicles and equipment and computer systems, which are deferred and amortized in future periods.
   The port will keep operating expenses in check, by among other things, reducing its headcount by 150 jobs to 6,977, its lowest level in 40 years. The agency said it has eliminated more than 500 non-police positions since 2004, a 9 percent reduction.
   The preliminary budget also calls for other cost-control measures including a 20 percent reduction in overtime and a 32 percent reduction in external consultants.
   “These and other cuts are necessary to help counter the effect of an economic downturn that is expected to reduce facility activity more than originally forecasted,” the port said.
   Port Authority Executive Director Chris Ward said, 'The port authority is not recession-proof. Like all public agencies, we have been hit hard by the economic downturn and have made difficult decisions to make certain our spending lives within our means. This budget meets our critical spending priorities, but only because we continue to reign in operating expenses and prioritize capital projects, which we will continue to do going forward.'
   In addition to the channel deepening, other capital projects at the port include continued work at the World Trade Center site, a new rail tunnel beneath the Hudson river, investments in the agency’s PATH commuter railroad, a flight delay reduction program at John F. Kennedy International Airport and modernization programs at the agency’s other major airports, Stewart, Newark Liberty, and LaGuardia.