Fiscal Year 2019 Budget

180

Budget Impact:

The budget for the airport remains steady and no major increases are being proposed under this budget. As with the general farm economy, the amount the city received from farm rent has declined the past few years, however when the farm economy strengthens, revenues should rebound as well. The budget also includes a couple of capital projects for the coming year. The rehabilitation of the terminal building as well as seeking proposals to update the Airport Master Plan will take place during this budget. Expenses for these can be found in the Capital Projects section of this document. The Airport's matching funds for the grants received for these two projects will be transfers from the Airport Reserve to the Enterprise Capital Project fund.

Future Concerns:

A major source of revenue for the airport comes from the rental of the hangars and other facilities located on the airport. The other major source of funding comes from rental of the farm land surrounding the airport. Both of these sources of revenue can fluctuate over time, therefore causing the airport to have to rely on reserves in same years to balance. The Airport receives no property tax dollars for its operations.

Employees

Percent of Proprietary Expenditures (net transfers)

0

0

0

0

Actual 15/16 Actual 16/17 Budget 17/18 Budget 18/19

Airport 3%

Number of Employees (FTEs)

Part Time Employees