PORT OF LOS ANGELES COMMISSIONERS APPROVE BUDGET
The board of harbor commissioners of the port of Los Angeles has adopted $497.9-million budget for the fiscal year 2002/2003 that focuses on security and other priority issues.
The budget will include safety and security enhancements such as $1 million for the design and implementation for a security I.D. system, $3 million for nine separate environmental studies to benchmark emission levels and $14 million in community outreach programs to support local facilities such as Cabrillo Aquarium and Maritime Museum.
The budget provides funds for the design and implementation of a port-wide identification system.
The port said that sustained high-level security has caused “a significant increase of $2 million in operating costs for personnel and equipment.” This year’s budget will allocate funds to support heightened security measures, including increased staffing resources and related equipment for port police.
“The port continues to work with local and federal agencies as well as the mayor’s Security Task Force to determine appropriate measures including the need for a port-wide identification system,” a port spokesman said.
Operating revenues for 2002/2003 are expected to reach $298.5 million, with growth in trade volumes expected at 11.8 percent over last year’s volume. Operating expenses for the fiscal year are estimated at $117.3 million, an increase of $21.3 million from last year’s budget.
The budget contains a capital budget of $374.4 million, down 34 percent from $564.5 million in 2001/2002 due to the near completion of Phase I of Pier 400, the new Maersk Sealand mega-terminal. Capital improvements in the 2002/2003 budget include channel deepening, the West Basin development program and berths 136-147 terminal improvement.