PANYNJ: 2015 Budget Available for Review

 

The Port Authority of New York and New Jersey (PANYNJ) posted yesterday for public review a proposed $2.9 billion Operating Budget and $3.6 billion Capital Budget that funds critical infrastructure benefiting the tens of millions of customers the agency serves annually.

Combined, together with debt service, the proposed agency budget for 2015 totals $7.8 billion in proposed spending.

The $2.9 billion Operating Budget continues to hold expense growth for ongoing agency operations at 1.8 percent – below the rate of inflation – and reflects continued austerity while allowing for increased investments in several critical areas, including facility maintenance and initiatives to enhance the competitiveness of the agency’s facilities.

The proposed Operating Budget represents the 9th consecutive year of nearly flat spending – at or below the rate of inflation – reflecting fiscal discipline and ongoing efforts to manage expenses.

The $3.6 billion Capital Budget will help build and maintain critical infrastructure at the Port Authority’s airports, tunnels, bridges, terminals, ports, PATH system and move toward completion of the World Trade Center site.

By holding growth in spending under the rate of inflation, this budget maintains the fiscal discipline necessary so that our resources can be invested in projects that create jobs, improve our infrastructure, and enhance regional mobility,” said Port Authority Executive Director Pat Foye“Our team undertook a thorough, disciplined process to target and prioritize our investments in areas that benefit service and ensure safety at our airports, bridges, tunnels, PATH system and ports.”

Our goal is to do more with less and to safeguard our resources to invest in our world-class transportation system,” said Port Authority Deputy Executive Director Deb Gramiccioni.  “Our efforts will allow us to invest in projects that matter to the millions of customers who use our airports, tunnels, bridges and PATH system every year.”

Highlights of the proposed 2015 Operating Budget:

– $17 million for cyclical maintenance dredging to improve service reliability in the Port of New York and New Jersey;

– $13.8 million for a PATH new car inspection apprentice program and additional maintenance as well as for the completion of the PATH Train Control Center;

– $9.6 million for long-term airport system planning including consideration of neighborhood impacts.

Press Release

 

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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