CITY OF NAPLES AIRPORT AUTHORITY

Transcription

1 CITY OF NAPLES AIRPORT AUTHORITY FISCAL YEAR 2014 AMENDED BUDGET OPERATING AND CAPITAL BUDGET

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4 CITY OF NAPLES AIRPORT AUTHORITY OPERATING INCOME FISCAL YEAR 2014 ORIGINAL AMENDED ACTUAL BUDGET ACTUAL BUDGET BUDGET Increase (Decrease) from Original Budget FY 2014 OPERATING REVENUES FY 2012 FY 2013 FY 2013 FY 2014 FY 2014 Net fuel revenue $ 6,512,000 $ 6,119,000 $ 6,580,000 $ 6,649,000 $ 6,649,000 $ - 0% Non-fuel revenue Concession fees 623, , , , ,000-0% Hangar/T-shelter/tiedown rents 1,718,000 1,753,000 2,008,000 1,985,000 1,985,000-0% Building rents 284, , , , ,000-0% Land rents 736, , , , ,000-0% Line services 423, , , , ,000-0% US Customs user fees 163, , , , ,000-0% Other 16,000 17,000 9,000 12,000 12,000-0% Non-fuel revenues 3,963,000 3,935,000 4,603,000 4,593,000 4,593,000-0% Operating revenues 10,475,000 10,054,000 11,183,000 11,242,000 11,242,000-0% OPERATING EXPENSES Personnel - full time equivalents % Salaries and wages 3,193,000 3,173,000 3,069,000 3,274,000 3,274,000-0% Payroll taxes 232, , , , ,000-0% Health plan 487, , , , ,000-0% Pensions 165, , , , ,000-0% Uniforms and laundry 25,000 24,000 22,000 28,000 28,000-0% Training 21,000 62,000 14,000 46,000 46,000-0% Travel and meetings 84,000 75,000 32,000 71,000 71,000-0% Employee recognition and affairs 12,000 16,000 14,000 18,000 18,000-0% Legal fees 113, , , , ,000-0% Audit services 44,000 58,000 41,000 46,000 46,000-0% Other professional services 118, , , , ,000-0% Computer/MIS services 165, , , , ,000-0% Engineering and planning services 12,000 23,000 13,000 61,000 61,000-0% Classified advertising 2,000 1,000 6,000 6,000 6,000-0% Communications 100, , , , ,000-0% Insurance 480, , , , ,000-0% Telephone 52,000 56,000 48,000 56,000 56,000-0% Utilities 215, , , , ,000-0% Environmental services 7,000 10, ,000 2,000-0% Office and operating supplies 22,000 24,000 54,000 62,000 62,000-0% Printing 6,000 11,000 8,000 11,000 11,000-0% Postage 7,000 9,000 7,000 8,000 8,000-0% Tower 59,000 56,000 48,000 64,000 64,000-0% ARFF operations 608, , , , ,000-0% Police services 30,000 34,000 30,000 36,000 36,000-0% U. S. Customs 299, , , , ,000-0% Dues/subscription/fees 35,000 43,000 39,000 32,000 32,000-0% Auto gas and diesel fuel 71,000 70,000 73,000 80,000 80,000-0% Pilot services 55,000 54,000 53,000 57,000 57,000-0% Miscellaneous Operating Expenses excluding R&M 6,719,000 7,428,000 6,870,000 7,429,000 7,429,000-0% - Building maintenance 102, , , , ,000-0% Airfield maintenance 67,000 77,000 87,000 86,000 86,000-0% Grounds maintenance 45,000 61,000 57,000 83,000 83,000-0% Vehicle maintenance 9,000 10,000 7,000 12,000 12,000-0% Equipment maintenance 113, , , , ,000-0% Small tools, equipment and supplies 64,000 60,000 40,000 25,000 25,000-0% Cleaning supplies 27,000 24,000 23,000 33,000 33,000-0% Repair & maintenance expenses 427, , , , ,000-0% - Operating expenses 7,146,000 7,968,000 7,358,000 7,974,000 7,974,000-0% - Operating income $ 3,329,000 $ 2,086,000 $ 3,825,000 $ 3,268,000 $ 3,268,000 $ - 0% 3

5 City of Naples Airport Authority Fiscal Year 2014 Operating Budget Actual FY 2012 Budget FY 2013 ACTUAL FY 2013 Original Budget FY 2014 Amended Budget FY 2014 Increase (Decrease) from Original Budget FY 2014 Net operating revenues $ 10,475,000 $ 10,054,000 $ 11,183,000 $ 11,242,000 $ 11,242,000 $ - Operating expenses 7,146,000 7,968,000 7,358,000 7,974,000 7,974,000 - Operating income 3,329,000 2,086,000 3,825,000 3,268,000 3,268,000 - Customer facility charges 207, , , , ,000 - Interest revenue 64,000 63,000 71,000 48,000 48,000 - Unrealized gain (loss) on investments 51,000-23, Grant revenue Other revenue - - 3, Rental credit expense (28,000) (16,000) (16,000) Gain on disposal of capital assets 3,000-20, Contribution of capital asset to other govt (50,000) Depreciation expense (3,164,000) (3,164,000) (3,241,000) (3,256,000) (3,256,000) - Non-operating revenues (expenses) (2,917,000) (2,935,000) (2,909,000) (2,976,000) (2,976,000) - Net income (loss) $ 412,000 $ (849,000) $ 916,000 $ 292,000 $ 292,000 $ - 4

6 FY Capital Improvement Plan Estimated/Actual Expenditures Expenditures Project Project as of 9/30/ Unallocated Total Airfield Pavement Runway 5-23 Rehabilitation FAA Funding 60,000 60,000 FDOT Funding - Other Funding - NAA Share 7,000 7,000 Project Total 67, ,000 TW A Extension & Water Management System Improvement-Phase I Design FAA Funding 149, , ,099,000 FDOT Funding 2,000 53, ,000 Other Funding NAA Share 12,000 53, ,000 Project Total 163,000 1,056, ,219,000 TW A Extension & Water Management System Improvement--Phase II Construction FAA Funding - 752,000 3,762,000-4,514,000 FDOT Funding - 41, , ,000 Other Funding NAA Share - 41, , ,000 Project Total - 834,000 4,181,000-5,015,000 Taxiway A, Runway 5 End Run-up Pad and West Quad Pond FAA Funding 950, ,000-1,520,000 FDOT Funding 25,000 15,000-40,000 Other Funding NAA Share 25,000 15,000-40,000 1,000, ,000-1,600,000 Rehabilitate Rental Car Wash Facility FAA Funding - FDOT Funding - Other Funding (CFC) 29, , ,000 NAA Share - Project Total 29, , ,000 East Quad ramp expansion, entrance road and utility realignment FAA Funding FDOT Funding 400,000 3,040,000 3,440,000 Other Funding NAA Share 100, , ,000 Project Total 500,000 3,800,000 4,300,000 Airfield Pavement Runway 14-32, North or South General Aviation or Commercial Ramp Rehab FAA Funding FDOT Funding 385,000 1,150, ,000 2,035,000 Other Funding NAA Share 96, , , ,000 Project Total 481,000 1,438, ,000 2,519,000 5

7 FY Capital Improvement Plan Estimated/Actual Expenditures Expenditures Project Project as of 9/30/ Unallocated Total Airport Fire Station Rehab at existing location without City funding FAA Funding 270,000 1,980,000 2,250,000 FDOT Funding 15, , ,000 Other Funding (CFC) NAA Share 15, , ,000 Project Total 300,000 2,200,000-2,500,000 Commercial Terminal Upgrades & Parking Lot Rehab--Phase I FAA Funding 2,000,000 2,000,000 FDOT Funding 500, ,000 Other Funding - - NAA Share 4,000,000 4,000,000 Project Total 6,500,000 6,500,000 Total Participatory Projects FAA Funding $209,000 $1,702,000 $4,712,000 $840,000 $1,980, $2,000,000 $11,443,000 FDOT Funding 2, ,000 1,784,000 3,570, , ,000 6,445,000 Other Funding 29, , ,000 NAA Share 19, , , , , ,000,000 5,832,000 Project Total 259,000 2,583,000 7,119,000 5,300,000 2,200, ,500,000 23,961,000 West Quad Pond and associated pathways -- Construction 1,300,000 Displaced Thresholds & EA 1,903, ,903,000 North Quadrant Roadway and Fencing 232, ,000 General Aviation Terminal Restrooms 159, ,000 Observation Area 50,000 15, ,000 Refurbish catwalk at Control Tower 37, ,000 Replace Tractor 44, ,000 Purchase/development of airport facilities - 2,500,000 2,500, ,000,000 Flat Bed Dump Truck Replacement - 39, ,000 Video/TV recording system in AOB - 80, ,000 Airport Office Building - Hurricane Shutters - 74, ,000 Control Tower elevator electrical refurbishment - 40, ,000 Land Clearing-Landfill site - 25, ,000 Purchase incinerator for international trash - 31, ,000 Replace Security vehicle#1 (from 2008) - 18, , ,000 Replace GPU #1-32, ,000 Replace 800mhz radios (6) 12,000 14,000 14, ,000 14,000 69,000 Purchase & implement financial system - 28,000 49, ,000 Facilities Building remodel - 30, , ,000 Purchase two Jet A fuel trucks, 5000 gal , ,000 Facilities Workshop-add 2 Bay Bldg, generator and Shade Cover , ,000 Replace Bi-Fold Hangar Doors ( ) , ,000 Obstruction Removal-Conservation Collier Easement , ,000 Executive Hangar-Paint red iron, roof, door opener, reface doors , ,000 Replace North self-fueler piping/pump , ,000 GA Canopy covered walkway canvas , ,000 Revise sidewalk crosswalks at Tower & Terminal Dr & Obs Deck , ,000 Bridge to River Reach , ,000 Run fiber optics between buildings & connect to Internet , ,000 6

8 FY Capital Improvement Plan Estimated/Actual Expenditures Expenditures Project Project as of 9/30/ Unallocated Total Purchase & implement document mgt system for electronic records , ,000 Purchase addtl 2013 Ford Expedition , ,000 Purchase electric tug to replace gas tug ,000 62, ,000 Replace Ops Van#2 (from 2006) , ,000 Aircraft canopy (rampside) , ,000 Commercial Terminal Refurbishment , ,000 Additional Equipment Canopy , , ,000 Replace Facilities Trucks (4) , ,000 Replace/upgrade existing Cisco phone system Call Manager , ,000 Replace Ops vehicle#3 (from 2008) , ,000 Purchase electric tug to replace gas tug (Green Plan) , ,000 Bomb Blast Analysis ,000 15,000 Repair or demolish CAS ,000 40,000 Purchase Bobcat Track Loader T , ,000 Replace Tractor ,000 50,000 Electric Gate with Operator at Exec Hangar II ,000 35,000 ATC equipment replacement ,000 40,000 Portable ramp for Control Tower ,000 75,000 Design/build Communications Center ,000 54,000 Airline equipment & upgrade Commercial Terminal , ,000 Information Technology 46,000 31,000 26,000 21,000 26, , , ,000 Individual expenditures of $25,000 or less 137, ,000 92,000 49,000 18,000-15,000 14, ,000 Total Non-Participatory Projects 717,000 3,268,000 6,329, , , , ,000 1,032,000 11,502,000 Grand Total $ 976,000 $ 5,851,000 $ 13,448,000 $ 5,842,000 $ 2,514,000 $ 270,000 $ 330,000 $ 7,532,000 $ 35,463,000 Capital Improvement Plan Summary Total Participatory Projects $ 259,000 $ 2,583,000 $ 7,119,000 $ 5,300,000 $ 2,200,000 $ - $ - $ 6,500,000 $ 23,961,000 Total Non-Participatory Projects 717,000 3,268,000 6,329, , , , ,000 1,032,000 11,502,000 Total All Projects $ 976,000 $ 5,851,000 $ 13,448,000 $ 5,842,000 $ 2,514,000 $ 270,000 $ 330,000 $ 7,532,000 $ 35,463,000 Funding Sources FAA Funding $ 209,000 $ 1,702,000 $ 4,712,000 $ 840,000 $ 1,980,000 $ - $ - $ 2,000,000 $ 11,443,000 FDOT Funding 2, ,000 1,784,000 3,570, , ,000 6,445,000 Other Funding 29, , ,000 NAA Share 736,000 3,458,000 6,952,000 1,432, , , ,000 5,032,000 17,334,000 $ 976,000 $ 5,851,000 $ 13,448,000 $ 5,842,000 $ 2,514,000 $ 270,000 $ 330,000 $ 7,532,000 $ 35,463,000 7

9 CITY OF NAPLES AIRPORT AUTHORITY CASH FLOW AND CASH ALLOCATION: FY 2014 FORECAST FORECAST FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 CASH FLOW Operating Revenue $ 11,183,000 $ 11,242,000 $ 11,579,000 $ 11,926,000 $ 12,284,000 $ 12,653,000 Operating Expense (7,358,000) (7,974,000) (8,293,000) (8,625,000) (8,970,000) (9,329,000) Operating Income 3,825,000 3,268,000 3,286,000 3,301,000 3,314,000 3,324,000 Adjustment for Non-Cash Items (82,000) (57,000) (58,000) (32,000) - - Adjustment for Working Capital (10,000) (10,000) (10,000) (10,000) (10,000) (10,000) Cash Flow from Operating Activities 3,733,000 3,201,000 3,218,000 3,259,000 3,304,000 3,314,000 Operating Grants Received Cash Flows from Non-capital Financing Activities Acquisition, Construction of Capital Assets (5,051,000) (13,448,000) (5,842,000) (2,514,000) (270,000) (330,000) Capital Contributions 1,593,000 6,496,000 4,410,000 2,090, Proceeds from Sale of Capital Assets 20, Customer Facility Charge Revenue 231, , , , , ,000 NAA Portion of Acquisition & Construction (3,207,000) (6,720,000) (1,250,000) (242,000) (88,000) (148,000) Interest Earned from Capital & Related Activities Cash Flow from Capital & Related Activities (3,207,000) (6,720,000) (1,250,000) (242,000) (88,000) (148,000) Interest Revenue 94,000 48,000 41,000 49,000 61,000 74,000 Cash transferred from SBA Fund B Investments 113,000 43,000 43,000 9, Other Revenue 3,000 9,000 9,000 9,000 9,000 9,000 Cash Flow from Investing Activities 210, ,000 93,000 67,000 70,000 83,000 Increase (Decrease) in Cash and Equivalents: 736,000 (3,419,000) 2,061,000 3,084,000 3,286,000 3,249,000 Cash and Equivalents at Beginning of Period 15,019,000 15,755,000 12,336,000 14,397,000 17,481,000 20,767,000 Cash and Equivalents at End of Period 15,755,000 12,336,000 14,397,000 17,481,000 20,767,000 24,016,000 CASH ALLOCATION Compensating Balance - Services $ 1,500,000 $ 1,500,000 $ 1,500,000 $ 1,500,000 $ 1,500,000 $ 1,500,000 CFC Account Balance 655, , , , , ,000 State Board of Administration - Pool B Balance 85,000 42,000 (1,000) Restricted Cash 2,240,000 2,209,000 2,182,344 2,197,000 2,220,000 2,242,000 Unrestricted Cash 13,515,000 10,127,000 12,214,656 15,284,000 18,547,000 21,774,000 Capital Reserves at End of Period Reserves 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 Unallocated Cash $ 9,515,000 $ 6,127,000 $ 8,214,656 $ 11,284,000 $ 14,547,000 $ 17,774,000 8

10 CITY OF NAPLES AIRPORT AUTHORITY SCHEDULE OF AVAILABLE RESOURCES, REVENUES, RECEIPTS, EXPENSES AND EXPENDITURES ORIGINAL AMENDED ACTUAL BUDGET ACTUAL BUDGET BUDGET Increase (Decrease) from Original Budget FY 2014 FY 2012 FY 2013 FY 2013 FY 2014 FY 2014 AVAILABLE RESOURCES, REVENUES AND RECEIPTS AVAILABLE RESOURCES AT BEGINNING OF YEAR Restricted $ 471,000 $ 209,000 $ 648,000 $ 655,000 $ 655,000 $ - 0% Operating & capital reserves 3,500,000 4,000,000 4,000,000 4,000,000 4,000,000-0% Unrestricted 10,040,000 10,306,000 13,815,000 14,930,000 14,930,000-0% Total available resources at beginning of year 14,011,000 14,515,000 18,463,000 19,585,000 19,585,000-0% #REF! OPERATING REVENUES Fuel sales (net) 6,512,000 6,119,000 6,580,000 6,649,000 6,649,000-0% Concession fees 623, , , , ,000-0% Hangar/T-shelter/tiedown rents 1,718,000 1,753,000 2,008,000 1,985,000 1,985,000-0% Building and land rents 1,020, ,000 1,023,000 1,217,000 1,217,000-0% Line services 423, , , , ,000-0% U.S. Customs user fees 163, , , , ,000-0% Other 16,000 17,000 9,000 12,000 12,000-0% Net operating revenues 10,475,000 10,054,000 11,183,000 11,242,000 11,242,000-0% NON-OPERATING REVENUES Customer facility charges 207, , , , ,000-0% Investment earnings 115,000 63,000 94,000 48,000 48,000-0% Other income/net insurance proceeds - - 3, % Total non-operating revenues 322, , , , ,000-0% RECEIPTS Principal repayment - note receivable % Capital contributions 384,000 9,991,000 1,099,000 6,496,000 6,496,000-0% Total receipts 384,000 9,991,000 1,099,000 6,496,000 6,496,000-0% TOTAL REVENUES AND RECEIPTS 11,181,000 20,290,000 12,610,000 18,018,000 18,018,000-0% TOTAL AVAILABLE RESOURCES, REVENUES AND RECEIPTS $ 25,192,000 $ 34,805,000 $ 31,073,000 $ 37,603,000 $ 37,603,000 $ - 0% (Continued) 9

11 CITY OF NAPLES AIRPORT AUTHORITY SCHEDULE OF AVAILABLE RESOURCES, REVENUES, RECEIPTS, EXPENSES AND EXPENDITURES ORIGINAL AMENDED ACTUAL BUDGET ACTUAL BUDGET BUDGET Increase (Decrease) from Original Budget FY 2014 FY 2012 FY 2013 FY 2013 FY 2014 FY 2014 TOTAL AVAILABLE RESOURCES, REVENUES AND RECEIPTS $ 25,192,000 $ 34,805,000 $ 31,073,000 $ 37,603,000 $ 37,603,000 $ - 0% EXPENSES AND EXPENDITURES OPERATING EXPENSES Personnel 4,219,000 4,315,000 4,090,000 4,463,000 4,463,000-0% Professional fees 452, , , , ,000-0% Communications 102, , , , ,000-0% Insurance 480, , , , ,000-0% Utilities and environmental 274, , , , ,000-0% Office/postage/printing 35,000 44,000 69,000 81,000 81,000-0% ATCT, ARFF and police service 697, , , , ,000-0% U. S. Customs 299, , , , ,000-0% Dues/subscriptions/fees 35,000 43,000 39,000 32,000 32,000-0% Auto gas and diesel fuel 71,000 70,000 73,000 80,000 80,000-0% Pilot services 55,000 54,000 53,000 57,000 57,000-0% Maintenance and repair 427, , , , ,000-0% Operating expenses 7,146,000 7,968,000 7,358,000 7,974,000 7,974,000-0% CAPITAL EXPENDITURES 2,880,000 12,484,000 4,114,000 12,148,000 13,448,000 1,300,000 32% NON-OPERATING EXPENSES % DEBT SERVICE EXPENSES AND EXPENDITURES Rental credit expense 28,000 16,000 16, % Total debt service expenses and expenditures 28,000 16,000 16, % TOTAL EXPENSES AND EXPENDITURES 10,054,000 20,468,000 11,488,000 20,122,000 21,422,000 1,300,000 11% AVAILABLE RESOURCES AT YEAR END Restricted 648, , , , ,000-0% Operating and capital reserves 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000-0% Unrestricted 10,490,000 10,174,000 14,782,000 12,814,000 11,514,000 (1,300,000) -9% TOTAL AVAILABLE RESOURCES AT YEAR END 15,138,000 14,337,000 19,585,000 17,481,000 16,181,000 (1,300,000) -7% NET CHANGE IN AVAILABLE RESOURCES BALANCE $ 1,127,000 $ (178,000) $ 1,122,000 $ (2,104,000) $ (3,404,000) (1,300,000) -116% RECONCILIATION OF BUDGETARY BASIS TO GAAP CHANGE IN NET ASSETS - BUDGETARY BASIS $ 1,127,000 $ (178,000) $ 1,122,000 $ (2,104,000) $ (3,404,000) Add: Capital expenditures 2,880,000 12,484,000 4,114,000 12,148,000 13,448,000 Less: Depreciation expense (3,164,000) (3,164,000) (3,241,000) (3,256,000) (3,256,000) Contribution of capital asset to other govt (50,000) - Gain (Loss) on disposal of capital assets 3,000-20, CHANGE IN NET ASSETS - GAAP $ 796,000 $ 9,142,000 $ 2,015,000 $ 6,788,000 $ 6,788,000 10

12 CITY OF NAPLES AIRPORT AUTHORITY STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS FISCAL YEAR 2014 ORIGINAL AMENDED ACTUAL BUDGET ACTUAL BUDGET BUDGET FY 2012 FY 2013 FY 2013 FY 2014 FY 2014 OPERATING REVENUES Fuel sales (net) $ 6,512,000 $ 6,119,000 $ 6,580,000 $ 6,649,000 $ 6,649,000 Concession fees 623, , , , ,000 Hangar/T-shelter/tiedown rents 1,718,000 1,753,000 2,008,000 1,985,000 1,985,000 Building and land rents 1,020, ,000 1,023,000 1,217,000 1,217,000 Line services 423, , , , ,000 U. S. Customs user fees 163, , , , ,000 Other 16,000 17,000 9,000 12,000 12,000 Net operating revenues 10,475,000 10,054,000-11,242,000 11,242,000 11,183,000 OPERATING EXPENSES Personnel 4,219,000 4,315,000 4,090,000 4,463,000 4,463,000 Professional fees 452, , , , ,000 Communications 102, , , , ,000 Insurance 480, , , , ,000 Utilities and environmental 274, , , , ,000 Office/postage/printing 35,000 44,000 69,000 81,000 81,000 ATCT, ARFF and police service 697, , , , ,000 U. S. Customs 299, , , , ,000 Dues/subscriptions/fees 35,000 43,000 39,000 32,000 32,000 Auto gas and diesel fuel 71,000 70,000 73,000 80,000 80,000 Pilot services 55,000 54,000 53,000 57,000 57,000 Maintenance and repair 427, , , , ,000 Miscellaneous expense Depreciation and amortization 3,164,000 3,164,000 3,241,000 3,256,000 3,256,000 Total operating expenses 10,310,000 11,132,000 10,599,000 11,230,000 11,230,000 Operating income (loss) 165,000 (1,078,000) 584,000 12,000 12,000 NON-OPERATING REVENUES (EXPENSES) Customer facility charges 207, , , , ,000 Interest revenue 64,000 63,000 71,000 48,000 48,000 Unrealized gain (loss) on investments 51,000-23, Interest expense (28,000) (16,000) (16,000) - - Other revenue/net insurance proceeds - - 3, Contribution of capital asset to other govt (50,000) Gain on disposal of capital assets 3,000-20, Total non-operating revenues (expenses) 247, , , , ,000 Income before capital contributions 412,000 (849,000) 916, , ,000 Capital contributions 384,000 9,991,000 1,099,000 6,496,000 6,496,000 Change in net assets 796,000 9,142,000 2,015,000 6,788,000 6,788,000 Total net assets - beginning 64,965,000 65,243,000 65,761,000 74,385,000 67,776,000 Total net assets - ending $ 65,761,000 $ 74,385,000 $ 67,776,000 $ 81,173,000 $ 74,564,000 11