Page 404 - FY 2022-23 Proposed Budget

HARBOR DEPARTMENT

APPROPRIATIONS (Continued)
Adopted Proposed
Budget Estimated Budget
Expenditures Appropriation Expenditures Appropriation
2020-21 2021-22 2021-22 2022-23
$ 19,094,404 $ 19,491,318 $ 19,491,000 Capitalized Expenditures (8)................................................. $ 19,476,292
-- -- -- Land and Property Acquisition.............................................. --
5,523,240 6,165,809 6,109,000 Equipment Purchases .......................................................... 11,804,844
111,633,696 188,692,952 139,988,000 Construction and Capital Improvements .............................. 180,545,622
$ 136,251,340 $ 214,350,079 $ 165,588,000 Total Capital Budget....................................................... $ 211,826,758
$ 436,825,973 $ 631,857,224 $ 576,129,000 Total Operating and Capital Budget.............................. $ 622,833,198

$ 16,891,895 $ (36,196,179) $ (27,452,000) Accrual Adjustments............................................................. $ 52,485,912
45,410,000 88,335,000 88,335,000 Debt Repayments (6)............................................................ 40,210,000
$ 499,127,868 $ 683,996,045 $ 637,012,000 Total Budget.................................................................... $ 715,529,110

Projected Year-End Balances:
$ 65,621,841 $ 66,579,363 $ 72,412,000 Restricted Cash (9)........................................................... $ 105,036,567
1,012,011,754 959,596,777 * 1,047,973,000 Unappropriated Balance/Carried Forward......................... 1,017,099,005
$ 1,576,761,463 $ 1,710,172,185 $ 1,757,397,000 Total Appropriations........................................................... $ 1,837,664,682
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 direct salaries, benefits, and overtime (S&B) and indirect overhead utilized on capital projects. The S&B expenses are included as positive figures
within the "Construction and Capital Improvements" appropriation line, and within the individual projects shown on the Capital Expenditure Improvement Program report.
(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 2022-23 debt repayment includes $40.2 million for 8/1/22 principal payment.
(7) Includes debt issuance costs, pass-through grant disbursements, etc.
(8) Includes overhead expenses which are allocated to capital projects.
(9) Includes $43.5 million earmarked for use towards Zero Emission (ZE) trucks and related infrastructure.

* The FY 2021/22 Adopted Budget includes a $6.2 million transfer to Other Operating Expenses from the Unappropriated Balance approved by the Board in FY 2021/22,
which increased the initially adopted budget in July 2022 from $300.1 million to $306.2 million.

I hereby certify that this is a full copy of the Proposed Budget of the Los Angeles Harbor Department for the Fiscal Year 2022-23.

EUGENE D. SEROKA
Executive Director

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