PATH 2011 budget: $247M on railcars, signaling

The Port Authority of New York & New Jersey has released a preliminary $7.2 billion budget for 2011 that designates $3.9 billion for capital spending. Included is $247 million for new PATH railcars and signaling improvements.

The biggest single planned expenditure is $1.9 billion for continued development of the World Trade Center site in lower Manhattan, which contains important rail elements.

Port Authority Executive Director Chris Ward said, “We continue to hold the line on operating expenses so we can meet our highest capital priorities. Unfortunately, given the severe economic downturn, we have had to make difficult choices to live within our means, which has meant prioritizing certain projects to move forward and deferring others until we have the capacity to pay for them.”

Zero growth in operating expenses for the third consecutive year is made possible by economies that include reduced headcount by 200 to a total of 6,777 positions, the lowest level in 40 years.