Monday, May 07, 2012

HART CEO proposes reduction in budget

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The Honolulu Authority for Rapid Transportation's Executive Director and Chief Executive Officer, Dan Grabauskas, recommended reducing the agency's budget for next year by $1.57 million. He suggested lowering HART's fiscal year 2013 operating budget by nearly sevent percent to $21.3 million.

"We are working to be good stewards of taxpayers' dollars. Taking a hard look at our own budget is part of that," Grabauskas said. "HART will continue to look for additional ways to be fiscally prudent and to deliver Oahu's rail system on time and on budget."

The suggested changes to HART's operating budget include:
• $300,000 reduction due to a delay in future hiring;
• $128,250 savings in fringe benefits tied to the hiring delay;
• $21,790 reduction in travel expenses;
• $1.05 million reduction in debt service. Because the project is not currently scheduled to borrow funds until fiscal year 2014, the debt service was eliminated.
• $75,102 reduction in scheduled reimbursements associated with other cost reductions.

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