Long Beach Harbor Commission Adopts $1 Billion Port Budget

The Long Beach Board of Harbor Commissioners has approved a $1.02 billion budget for fiscal year 2014 that includes the Port of Long Beach’s largest-ever capital improvement spending plan.

A total of $788 million in capital spending – 6.0 percent more than last year – leads the planned expenses in the budget that covers the fiscal year set to begin Oct. 1, 2013. The port’s modernization program, with projects such as the Middle Harbor terminal and Gerald Desmond Bridge Replacement, boosted the overall budget by 6.6 percent. The budget also projects record operating revenue of $375 million.

The budget adds 52 new full-time positions, which include 33 in the Engineering Bureau to oversee the ongoing capital improvements and 12 in the Security Division to enhance operational integration with the Long Beach Police Department and other partnering security agencies.

It sets aside $73 million for environmental programs to improve air and water quality, as well as to protect wildlife habitat. The budget also proposes a record $18.4 million transfer to the city’s Tidelands Fund. The transfer would be 5.0 percent of estimated operating revenue for fiscal year 2013.

The budget was unanimously approved by the commission on June 17 and will be presented to the Long Beach City Council in July for approval.

For the budget’s executive summary, click here.

American Association of Port Authorities
Asociación Americana de Autoridades Portuarias
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