NJ.com reports that Port Authority of New York and New Jersey commissioners will vote on a final 2017 budget on December 8. No toll or fare increases are included in the proposed $7.37 billion spending plan. PANYNJ projects $1.866 billion in toll and fare revenue (a $48 million increase over 2016), and “Rentals are expected to generate a total of $1.55 billion next year,” according to NJ.com. Only ten new permanent jobs are budgeted for, and annual staffing costs (the agency will have a complement of 7,147) are projected to total $1.2 billion. Approximately forty percent of the $2.9 billion capital budget is dedicated to the authority’s “State of Good Repair” program, but planning and preparation for new construction (such as a Goethals Bridge replacement) are also funded.
Click here to download the 2017 Budget Book and budget schedules.