Port of Jacksonville budgets 41% jump in security costs

Port of Jacksonville budgets 41% jump in security costs    Security costs at the port of Jacksonville, Fla. will soar 41 percent, to $3.3 million, in the fiscal year October 2004/September 2005, under a budget approved Monday by the board of directors of the Jacksonville Port Authority.
   The northern Florida port has set a budget of $23.8 million for operating expenses in its fiscal year 2005, a 13-percent increase over fiscal year 2004. “The largest single increase is slated for security-related expenditures,” the port authority said. Much of this spending is required to meet state and federal requirements for security improvements.
   The port authority has set a budgeted revenue of $36.8 million in operating revenues and grants for the next fiscal year, a 15-percent increase over the $31.9 million budgeted for fiscal year 2004. More than 80 percent of revenues in fiscal year 2005 will be generated by a combination of tenants and customers moving commercial and military cargoes. The balance will come from nearly $2.4 million in cruise revenues — up from $1.4 million projected for fiscal year 2004 — as well as reimbursable security expenses and telecommunications proceeds.
   The budget must now be approved by the city council finance committee and full city council.
   The Jacksonville Port Authority is also planning to invest in improvements for all three of its cargo-handling terminals.