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File #: 2019-2966    Name:
Type: Report Status: Filed
File created: 8/5/2019 In control: Board of Aeronautic Commissioners
On agenda: Final action: 8/12/2019
Title: Airport Financial Report Year to Date May 31, 2019
Attachments: 1. Report

Title

Airport Financial Report Year to Date May 31, 2019

 

Body

 

Impact/Analysis:

 

Reports through May 2019 show the Airport fund with a net operating loss of $591,773.  The fund has operating revenues of $1,518,690 against expenditures of $2,110,464.  Nonoperating items and transfers bring the fund to a year-to-date net loss of $4,259,444. When depreciation expense of $508,514 is excluded (added back), the net loss adjusted for depreciation is $3,750,930.  Pending grant reimbursements of $5.6 million will offset this loss by fiscal year end

 

Operating Revenues overall are above budget (5%) and above prior year $190,000 or 14%.  Rental revenue is 4% below budget for FY19 and 13% ($81,243) higher than to last year.  The sharp increase over last year is due to hangar construction this time last year.  Fuel revenues are above budget $109,648 (16%) and up $116,734 (17%) compared to last year.  Overall, sales in gallons have increased 23,653 gallons or 15% compared to last year.  Jet A is up 20,406 gallons for a 30% increase. 

 

Expenditures are right on budget (within $80). Supplies for Resale (fuel is the primary item in this category) is $112,985 or 25% over budget and up 26% over last year actual.  This is due to increased gallons purchased (see revenues above) along with slightly higher costs. 

 

 

 

 

 

 

Presenter: 

Darlene Pickett, Controller