Port of L.A. budget includes $33 million for security programs
The Port of Los Angeles on Thursday announced approval of a $848.5 million fiscal year 2006-2007 budget, including more than $33 million for safety and security initiatives.
Individual security projects are:
* $2.5 million for the design of a joint container inspection facility with the Port of Long Beach.
* $8 million for a port-wide security surveillance system.
* $22.6 million in federally funded grants for port-wide security deterrents.
The 2006-2007 budget contains an operating budget of $258 million, a capital budget of $311 million and $42 million in future year commitments, including $82 million related to land and property acquisitions. Operating revenues for 2006-2007 are anticipated to reach $409 million, an increase of $26.2 million, or 7 percent, over last year’s budget. Operating expenses are estimated at $207 million, an increase of $42 million, or 25.1 percent, from last year, primarily due to outside service costs for environmental, engineering and legal services, provisions for debt exposure and wharf and ground maintenance improvements.