Delaware River Port Authority approves $257 million budget (South Jersey Times)

December 12, 2012 – The Delaware River Port Authority on Wednesday approved a 2013 annual budget of $257.7 million, representing a 6.3 percent decrease from the previous year’s spending plan, according to officials. DRPA Chief Financial Officer John Hanson stated that despite a $3 million increase in employee pension costs — representing a 70 percent jump — and a $4.2 million increase in operating expenses, the authority was able to cut its budget due to a $17.3 million decrease in debt service. According to the DRPA, the authority has paid down its debt by $95.7 million and decreased debt service costs by $2.5 million per month.

Link to Full Article: http://www.nj.com/gloucester-county/index.ssf/2012/12/delaware_river_port_authority_7.html

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