The Port of Oakland said coronavirus-induced business declines forced it to cut back its spending plans.
Port commissioners last week approved a fiscal year 2021 budget with 15.84% less in operating and capital expenditures than the previous year. The California port’s 2021 fiscal year began Wednesday.
“This budget is based on neither unsubstantiated hope nor on speculation of any worst-case scenario,” said Port of Oakland Executive Director Danny Wan. “It is based on best estimates of how our...
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