Page 403 - 2020-21 Budget Summary

HARBOR DEPARTMENT

APPROPRIATIONS (Continued)
Adopted Proposed
Budget Estimated Budget
Expenditures Appropriation Expenditures Appropriation
2018-19 2019-20 2019-20 2020-21
$ 50,126,394 $ 16,295,716 $ 16,295,000 Capitalized Expenditures (8)................................................. $ 18,295,716
764,204 9,148,155 * 9,148,000 Land and Property Acquisition.............................................. --
10,163,908 12,390,824 10,291,000 Equipment Purchases .......................................................... 9,767,153
47,111,916 144,431,911 85,428,000 Construction and Capital Improvements ............................... 192,075,639
$ 108,166,422 $ 182,266,606 $ 121,162,000 Total Capital Budget....................................................... $ 220,138,508

$ 359,698,685 $ 542,715,366 $ 463,208,000 Total Operating and Capital Budget.............................. $ 579,616,263
$ 178,602,795 $ (23,937,461) $ (43,493,000) Accrual Adjustments............................................................. $ (59,562,767)
44,015,000 267,110,000 262,110,000 Debt Repayments (6)............................................................ 45,410,000
$ 582,316,480 $ 785,887,905 $ 681,825,000 Total Budget................................................................... $ 565,463,496
Projected Year-End Balances:
88,508,466 72,631,824 63,994,000 Restricted Cash (9)........................................................... 64,395,672
830,702,941 750,402,256 * 893,207,000 Unappropriated Balance/Carried Forward......................... 886,713,884
$ 1,501,527,887 $ 1,608,921,985 $ 1,639,026,000 Total Appropriations.......................................................... $ 1,516,573,052
Note: Rounding of figures may occur.

(1) Includes Construction Fund, Debt Service Reserve Fund, China Shipping Funds, Clean Truck Fund, etc.
(2) Includes interest and investment income, pass-through grant receipts, settlements, rebates, and other reimbursements.
(3) Represents the portion of personnel salaries and related overhead for work performed on capital projects.
(4) Includes costs associated with the Clean Air Action Plan and the Clean Truck Program.
(5) Includes equipment rental, equipment rental maintenance, memberships, subscriptions, environmental remediation, taxes, assessments, etc.
(6) FY 2020-21 total Debt Service of $79.1 million includes cash payments of $45.4 million for principal and $33.7 million for interest.
(7) Includes debt issuance costs, pass-through grant disbursements, etc.
(8) Includes interest payments and overhead expenses which are allocated to capital projects. Starting in FY 2019-20, due to a change in accounting standards,
interest payments will no longer be capitalized and will therefore not be included in this line item. Instead, all interest payments will be included in Non-Operating Expenses.
(9) Includes Common Reserve Release of $22.2M resulting from FY 2019-20 refunding transaction for Series 2009A and 2009C bonds.

* Includes a $9.1 million transfer to Land and Property Acquisition from the Unappropriated Balance, approved by the Board of Harbor Commissioners in FY 2019-20.

I hereby certify that this is a full copy of the Proposed Budget of the Los Angeles Harbor Department for the Fiscal Year 2020-21.

EUGENE D. SEROKA
Executive Director

370