The Oxnard Harbor District board has approved the Port of Hueneme’s new budget for the 2010-11 fiscal year, one that reflects “the continued impact of the sluggish global economy,” according to a district news release.
The Harbor District’s operating revenues are projected to be $10.4 million, an increase of about 3.3 percent from the last year. Total operating expenses of about $6.8 million represent an 8 percent decrease from last year.
The spending cuts include hiring freezes and renegotiated contracts with insurance providers and other contractors, the district said.
Though revenues climbed slightly since last year, they are still well below the pre-recession peak of about $12 million a year.