DRBA Commission Adopts 2020 Operating Budget
Represents less than 1% increase over Current Spending Plan; Maintains Fiscal Discipline
NEW CASTLE, Del. - The Delaware River and Bay Authority (DRBA) Commission approved Resolution 19-45, which established an operating budget of $80,880,117 for the Delaware Memorial Bridge, the Cape May - Lewes Ferry, Food Services, Forts Ferry Crossing, Police and Administration. The Commissioners also authorized a budget of $8,284,620 to operate the Authority’s five regional airports in New Jersey and Delaware and $714,159 for other facilities operated by the agency. The Authority’s 2020 Operating Budget total of $89.9 million represents an increase of less than one percent compared to its current FY2019 Budget of $89.0 million. The board action took place at the bi-state agency’s monthly meeting held in James Julian Boardroom at the DRBA Administrative Complex in New Castle, Delaware.
According to the Authority’s Chief Financial Officer Victor Ferzetti, the agency’s main focus is managing expenses while continuing to deliver high quality facilities and services to our customers. “The operating budget maintains fiscal discipline while providing for the essential operation of our regional transportation network,” Ferzetti said. “The Authority’s finance team works diligently, line-by-line to produce a cost effective, responsible budget. We’re always working cooperatively with directors and managers to control costs.”
Mr. Ferzetti indicated that the anticipated food service partnership at the Lewes Ferry Terminal allows the Authority to begin to achieve significant cost containment in wages, benefits, and operating budget lines. The Ferry’s food service operating budget decreased by $1.7 million, or more than 28% compared with current budget numbers. The CFO noted that in the FY20 budget salary and wages diminished by $26,000 or -0.08% while benefits and other operating lines increased modestly by 1.5% and 1.7% respectively, resulting in an overall budget increase of 0.99%.
The revenue that the DRBA generates covers the operating expense, debt service payments and capital improvements at its network of transportation facilities. The Authority expects to review and adopt its 2020 Capital Improvement Plan (CIP) at its upcoming monthly meeting in December 2019.
About the Delaware River and Bay Authority
The DRBA, a bi-state governmental agency created by Compact in 1962, owns and operates the Delaware Memorial Bridge, the Cape May- Lewes Ferry, and the Forts Ferry Crossing. The DRBA also manages corporate and aviation properties through its economic development powers - two airports in New Jersey (Millville Airport and Cape May Airport) and three in Delaware (New Castle Airport, Civil Air Terminal and Delaware Airpark). All DRBA operating revenues are generated through the bridge, ferry and airport facilities. For more information, visit www.drba.net.
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