Today, Port Authority's Board of Directors adopted a $330 million operating budget for its Fiscal Year 2011 that projects a $47.1 million revenue shortfall.
The budget assumes the Pennsylvania Legislature will address its funding shortfall that has created the projected Port Authority deficit.
"We're not asking for a bailout—we simply want the State Legislature to adopt a measure that sustains a reliable funding source—not only for Port Authority, but for public transit statewide," said CEO Steve Bland at today's Board meeting. Read more remarks from Steve Bland.
To read the official news release announcing the budget adoption, click here. To read remarks from Board vice-chairman Guy Mattola, click here.
A PDF presentation on the FY2011 budget is also available on our website.