Port Authority of NY & NJ to vote on $2.6B operating budget Thursday (Star Ledger)

December 5, 2012 – After a week of criticism, the Port Authority of New York and New Jersey is scheduled to vote Thursday on a $2.6 billion operating budget for 2013 that cuts projected spending by $100 million and maintains current staffing levels. Revenue from tolls and fares, the agency’s second biggest source after rents, is projected to rise 11 percent, thanks to last year’s record toll hike at the agency’s bidges and tunnels and a simultaneous increase in PATH fares. The $2.576 billion plan includes salaries and other personnel costs, service contracts, materials and utility costs and other operating expenses. It does not include capital spending for bridges, tunnels, airports and other brick-and-mortar projects, a figure budgeted at $3.66 billion for 2012.

Link to Full Article: http://www.nj.com/news/index.ssf/2012/12/port_authority_to_vote_on_2013.html

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