Page 400 - FY 2021-22 Proposed Budget

HARBOR DEPARTMENT

APPROPRIATIONS (Continued)
Adopted Proposed
Budget Estimated Budget
Expenditures Appropriation Expenditures Appropriation
2019-20 2020-21 2020-21 2021-22
$ 19,109,029 $ 18,295,716 $ 18,296,000 Capitalized Expenditures (8)................................................. $ 19,491,318
9,148,155 -- -- Land and Property Acquisition.............................................. --
7,741,597 8,336,131 4,697,000 Equipment Purchases .......................................................... 6,238,357
80,062,127 163,636,301 132,377,000 Construction and Capital Improvements ............................... 188,692,952
$ 116,060,908 $ 190,268,148 $ 155,370,000 Total Capital Budget....................................................... $ 214,422,627

$ 426,889,563 $ 568,328,596 $ 528,704,000 Total Operating and Capital Budget.............................. $ 582,611,577
$ (42,821,424) $ (12,720,934) $ (34,556,000) Accrual Adjustments............................................................. $ (198,209,260)
262,110,000 45,410,000 45,410,000 Debt Repayments (6)............................................................ 88,335,000
$ 646,178,139 $ 601,017,662 $ 539,558,000 Total Budget................................................................... $ 472,737,317
Projected Year-End Balances:
65,519,544 64,426,707 66,422,000 Restricted Cash (9)........................................................... 66,123,641
928,705,939 833,715,970 * 970,895,000 Unappropriated Balance/Carried Forward......................... 1,102,970,906

$ 1,640,403,623 $ 1,499,160,339 $ 1,576,875,000 Total Appropriations.......................................................... $ 1,641,831,864

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 customer incentives, equipment rental, equipment rental maintenance, memberships, subscriptions, environmental remediation, taxes, assessments, etc.
(6) FY 2021-22 debt repayment includes $47.2 million for 8/1/21 principal pay down and $41.1 million for Series 2011AB refunding bonds transaction.
(7) Includes debt issuance costs, pass-through grant disbursements, etc.
(8) Includes overhead expenses which are allocated to capital projects.
(9) Includes Common Reserve Release estimated at $2.6 million resulting from FY 2021-22 refunding transaction for Series 2011AB bonds.

* Includes a $3.8 million transfer to Other Operating Expenses from the Unappropriated Balance, approved by the Board of Harbor Commissioners in FY 2020-21.

I hereby certify that this is a full copy of the Proposed Budget of the Los Angeles Harbor Department for the Fiscal Year 2021-22.

EUGENE D. SEROKA
Executive Director

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