Date: Nov 30, 2012
Press Release Number: 201-2012
Port Authority Board of Commissioners scheduled to take action on proposed operating budget at next board meeting on December 6
The Port Authority of New York and New Jersey today posted online its proposed $2.57 billion operating budget for 2013. The agency’s Board of Commissioners is scheduled to take action on the proposed operating budget at its next meeting on December 6.
The proposed budget keeps administrative expenses virtually flat for a fifth consecutive year, maintains agency headcount at the lowest levels in four decades and cuts costs by reigning in employee compensation and benefits.
The public can view the document online and can submit comments to the Port Authority at email@example.com.
The Board will consider the agency’s proposed 2013 capital budget at a future meeting.
CONTACT: Port Authority of New York and New Jersey 212-435-7777
Founded in 1921, the Port Authority of New York and New Jersey builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. The agency’s network of aviation, ground, rail, and seaport facilities is among the busiest in the country, supports more than 550,000 regional jobs, and generates more than $23 billion in annual wages and $80 billion in annual economic activity. The Port Authority also owns and manages the 16-acre World Trade Center site, where construction crews are building the iconic One World Trade Center, which is now the tallest skyscraper in New York. The Port Authority receives no tax revenue from either the state of New York or New Jersey or from the City of New York. The agency relies on revenues generated by facility users, tolls, fees and rents as well as loans, bond financing, and federal grants to fund its operations. For more information, please visit http://www.panynj.gov.