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February 8

Maine Turnpike proposes dramatic 10% cut in budget

The Associated Press

AUGUSTA — The chief of the Maine Turnpike Authority says financial reforms at the agency have already saved millions of dollars with the potential for millions more.

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Peter Mills

Executive Director Peter Mills presented the agency's 2013 budget to the Legislature's Transportation Committee on Tuesday, outlining dramatic reductions in spending, with the budget dropping sharply from $41.8 million to $37.5 million.

The proposed savings include a $2.2 million decrease in employee salaries, including sharp cutbacks in state trooper overtime.

The agency also eliminated all outside lobbying services.

Mills says the agency is also in the process of refinancing its bond debt for a projected savings of $13 million over the life of the bonds.

The budget will go before the Transportation Committee on Thursday.

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