Port of Long Beach budget cut by $40 million
The Long Beach Board of Harbor Commissioners voted unanimously Monday to give initial approval to the port of Long Beach’s $411.1 million budget for the 2005-2006 fiscal year beginning Oct. 1. The proposed budget is down 8.8 percent, or $40 million, compared to the last fiscal year budget.
The budget allocates nearly $33 million for the Green Port efforts, including programs to reduce air emissions, promote sustainability, engage and educate the community, and establish specific goals and metrics to measure progress. The board also set aside $100 million in a reserve fund for long-term environmental projects.
The port said it will spend about $27 million on security staff, enhancement of a video surveillance system, a command and control center, and an incident management system.
The port said it expects its operating revenues to increase 7.2 percent to $335 million thanks to container trade growth, while expenses are expected to decrease 12 percent to $193.6 million.