FY 17 Annual Report

Business Type Activities Funds

2017

CITY OF SPENCER, IOWA

AIRPORT OPERATIONS

FUND #660

FUND INFORMATION

The Airport Operations fund accounts for the operations of the municipal airport, also known at the Northwest Iowa Regional Airport. The Airport is ran as a business-like operation and receives no general tax subsidy. Its primary source of revenue is from rent of hangars, farm rental income and other fees. Below are the main sources of rental income and the amounts paid in FY17: Leading Edge Aviation $56,400 Wilbur Ellis Air 14,400 Revenues for the Airport Operations were down in FY17 by $5,321.72 (-3.06%) over FY16. Charges for Service were down due to the loss of The Maschoffs renting office space at teh Airport. Operating expenditures, net of transfers, decreased in FY17 by $41,980.80 (-24.54%) over FY16. Part of the decrease came in the Repairs, Maintenance and Utility and Salaries function of the budget. Contractual services saw an increase this year. The Airport Operations unassigned fund balance on June 30, 2017 was $56528.11, an increase of $4,000.11 (+7.62%) over FY16. The amount in reserves represents 41.00% of the budgeted FY18 expenditures.

CURRENT BUDGET

YEAR TO DATE

% OF

FY 2016 ACTUAL

ACTUAL

BUDGET

REVENUES

INTERGOVERNMENTAL CHARGES FOR SVCS FARM INCOME MISCELLANEOUS USE OF MONEY

-

-

-

-

614.14 173,571.29 122,608.15 50,000.00 349.00

120,000.00 70,000.00

112,084.12 50,000.00

93.40 71.43

1,000.00

5,385.00

-

300.00

780.45

260.15

TOTAL REVENUES

191,300.00

168,249.57

87.95

EXPENDITURES

SALARIES & WAGES EMPLOYEE BENEFITS STAFF DEVELOPMENT REPAIRS, MAINT, UTIL CONTRACTUAL SVCS

22,526.09 3,437.33

18,612.00 3,086.00 2,500.00 65,500.00 36,000.00 8,500.00 5,905.00

15,769.41 2,211.84

84.73 71.67

99.00

-

-

62,896.29

43,990.51 36,687.54 13,685.16 51,905.00

67.16

35,000.04 15,271.51 31,840.45 171,070.71

101.91 161.00 879.00

COMMODITIES TRANSFERS

140,103.00

164,249.46

117.23

TOTAL EXPENDITURES

BUSINESS TYPE ACTIVITIES