Authority Commissioners James Herston, Chair Robert D. Hancik, A.A.E., Vice-Chair Kathleen Coppola, Secretary/Treasurer Paul Andrews, Asst. Secretary/Treasurer Pam Seay, Commissioner C CEO James W. Parish, P.E. Airport Authority Attorney Darol Carr BUDGET WORKSHOP AGENDA August 2, 2018 9:00 A.M. Punta Gorda Airport 1. Call to Order - Reminder to Turn Off Your Cell Phones 2. Invocation - For those who wish to join, please rise for the invocation. 3. Pledge of Allegiance 4. Roll Call 5. Citizen s Input: Anyone wishing to address the Board during this portion of the Meeting must sign in, state their name for the record, and address their comments to Agenda items only. Each citizen will be allowed no more than two minutes to express their opinion. 6. FY 2018/2019 Budget Presentation 7. Citizen s Input Anyone wishing to address the Board during this portion of the Meeting must sign in, state their name for the record and address their comments to Agenda items only. Each citizen will be allowed no more than two minutes to express their opinion. 8. Adjournment
7/26/2018 180,000 AVGAS GALLONS PER YEAR 176,734 170,000 166,107 167,942 165,991 165,991 163,992 160,000 157,387 156,645 155,500 150,000 140,000 FY10/11 FY11/12 FY12/13 FY13/14 FY14/15 FY15/16 FY16/17 FY17/18 FY18/19 Projected AVGAS DISTRIBUTION GALLONS 2018 Total 165,991 Gals Truck 81,694 49% Self Serve 84,297 51% 1
7/26/2018 600,000 500,000 Jet A GALLONS PER Year (GA Fuel Only No Airline) 485,336 514,015 514,015 Projected 400,000 404,977 444,142 425,796 406,991 300,000 200,000 100,000 0 FY12/13 FY13/14 FY14/15 FY15/16 FY16/17 FY17/18 Projected 18/19 Jet A Fuel Pumped Distribution 2018 Total Gallons 10,643,942 Truck 514,015 5% Airline 10,129,927 95% 2
7/26/2018 Total Fuel Pumped Distribution FY18 Total Gallons 10,809,933 Jet Avgas 514,015 165,991 5% 1% Airline 10,129,927 94% 12,000,000 Jet A GALLONS PUMPED PER YEAR 10,000,000 10,129,927 8,000,000 7,375,498 8,361,143 6,654,568 6,000,000 5,082,964 Total Airline Total CCAA 4,000,000 2,000,000 1,560,639 2,203,900 2,112,012 2,687,823 955,211 0 675,977 0 629,010 0 380,533 437,430 502,335 504,183 404,977 444,142 425,796 406,991 485,336 514,015 FY06/07 FY07/08 FY08/09 FY09/10 FY10/11 FY11/12 FY12/13 FY13/14 FY14/15 FY15/16 FY16/17 FY 17/18 3
7/26/2018 $2,000,000 FBO Fuel Sales, Gross Profit 2019 Projected $1,800,000 $1,600,000 $1,400,000 $1,200,000 $689,050 Gross Profit $1,000,000 $800,000 Cost of Goods Sold $600,000 $400,000 $200,000 $1,080,060 $145,380 $554,780 $ Jet A Avgas 900,000 Airline Enplanements by Fiscal Year 800,000 700,000 736,245 816,936 622,216 600,000 519,600 500,000 398,588 400,000 300,000 289,552 200,000 100,000 48,623 82,028 134,046 124,941 139,407 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Projected 2019 Projected 4
7/26/2018 120,000 Total Enplanements by Month FY 2012 thru 2019 100,000 2018 80,000 2017 2016 60,000 2015 2014 40,000 2013 2012 20,000 2019 Projected 0 November December January February March April May June July August September $3,500,000 Parking Lot Revenue FY 2011 to 2019 $3,223,910 $3,000,000 $2,938,161 $2,500,000 $2,365,092 $2,000,000 $1,818,356 $1,500,000 $1,277,366 $1,000,000 $830,415 $500,000 $329,388 $300,327 $377,915 $ 2011 2012 2013 2014 2015 2016 2017 2018 2019 Projected 5
7/26/2018 $6,000,000 Car Rental Concession Income per Year $5,000,000 $4,496,317 $4,919,700 $4,000,000 $3,561,085 $3,247,858 $3,000,000 $2,612,572 $2,000,000 $1,937,693 $1,000,000 $528,036 $788,265 $894,225 $931,019 $ 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Projected 2018 Revenue per Enplaned Passenger Distribution $16.00 $14.00 $12.00 $10.00 $8.00 $6.00 $4.00 $2.00 $0.00 OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP Food & Beverage Concession Other Car Rental Auto Parking 6
7/26/2018 $14.00 Airline Related Revenues Vs Cost (Direct and Indirect Expenses) per Enplaned Passenger $12.00 $11.89 $11.50 $11.41 $10.92 $10.00 $8.00 $6.00 6.53 $5.38 $6.53 6.16 6.19 $5.76 $6.64 $4.00 3.91 $2.00 2.05 $ 0.23 2016 2017 2018 2019 Operating Revenue PFC's Entitlements Cost T Hangar Occupancy Rate: %, 5 yr 100.00% 90.00% 80.00% 70.00% 60.00% 50.00% 40.00% 2018 2017 2016 2015 2014 30.00% 20.00% 10.00% 0.00% October November December January February March April May June July August September 7
7/26/2018 Operating Revenues (NET) FY 2018 Jet Fuel Sales (NET) 6% Avgas Sales (NET) 1% Other Misc. Revenues 1% Other FBO/Fuel Revenues 3% Concessions, Vending, and Fees 0.1% Hangar Rentals and Tiedowns 6% Industrial and Commecial Park Leases 9% Airline Related Revenues 74% Total Revenues=$13,995,971 Total NET Revenues=$12,335,844 Projected (NET) Operating Revenues FY 2019 Jet Fuel Sales (NET) 5% Avgas Sales 1% Other FBO/Fuel Revenues 3% Airline Related Revenues 76% Concessions, Vending, and Fees 0.13% Hangar Rentals and Tiedowns 6% Industrial and Commecial Park Leases 9% Total Revenues=$14,787,400 Total NET (W/O COGS) Revenues=$13,152,560 8
7/26/2018 Other Expenses 2% Marketing and Promotional 1% Legal and Professional 3% Supplies 3% Operating Expenses FY 2018 Personnel Expenses 51% Insurance 4% Travel 0% Repairs and Maintenance 6% Utilities 5% Computer Maintenance and Expense 2% Airline Related Expenses 23% Total Expenses=$10,049,750 Total NET Expenses (W/O COGS)=$8,381,238 Projected Operating Expenses (NET) FY 2019 Other Expenses 5% Marketing and Promotional 2% Legal and Professional 3% Supplies 3% Repairs and Maintenance 6% Personnel Expenses 54% Insurance 3% Travel and Auto Computer Allowance Maintenance and 1% Expense 2% Utilities 4% Airline Related Expense 14% Total Expense=$10,818,620 Total Net Expense=$9,175,830 9
7/26/2018 $16,000,000 Punta Gorda Airport Total Operating Revenues 1998 2019 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $ 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 $16,000,000 Punta Gorda Airport Operating Revenue vs. Operating Expenses 1998 2019 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 Operating Revenue $4,000,000 $2,000,000 Operating Expense $ 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 10
7/26/2018 $4,500,000 Operating Gain Budget vs Actual $4,000,000 $3,946,221 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $3,110,507 $2,935,384 $2,793,719 $2,640,179 $2,143,604 $1,805,502 Budget Actual $1,500,000 $1,000,000 $500,000 $ $1,058,609 $822,865 $413,888 $475,489 $276,544 $64,743 $70,514 2012 2013 2014 2015 2016 2017 2018 2019 Projected Salaries by Department LANDSIDE OPS TOTAL 12% AIRSIDE OPS TOTAL 11% ADM TOTAL 39% FBO TOTAL 19% CUSTODIAL TOTAL 7% GROUNDS TOTAL 6% FACILITIES TOTAL 6% 11
7/26/2018 $16,000,000.00 Salaries vs Revenues and Expenses $14,000,000.00 $12,000,000.00 $10,000,000.00 $8,000,000.00 $6,000,000.00 $4,000,000.00 $2,000,000.00 $ 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Salaries Revenues Expenses 1,600,000.00 Reserve Balances 1,400,000.00 2014 1,200,000.00 1,000,000.00 800,000.00 2015 2016 2017 EST 2018 600,000.00 400,000.00 200,000.00 NON CASTROPHIC EXP RESV FUND CONTAMINATED/POLLUTANT RESERVE INSURANCE ESCROW FUND RESERVE BUILDING FUND PARKING LOT RESERVE $26,362 $107,500 $223,892 $1,359,816 $314,948 Current Reserve Balances 12
7/26/2018 14,000,000.00 Cash Comparison 12,000,000.00 10,000,000.00 8,000,000.00 6,000,000.00 4,000,000.00 2,000,000.00 2014 2015 2016 2017 EST 2018 RESERVE TOTALS UNRESTRICTED CASH OPERATING CASH 13
BUDGET WORKSHOP AUG 2, 2018 FISCAL YEAR 2019 BUDGET- FLIGHTS 5510 Proposed FY18-19 Budget 2017-18 YEAR END FORECAST 2017-18 BUDGET OPERATING REVENUES Fuel and Oil Sales 2,881,800 2,883,489 2,620,540 Industrial and Commercial Park Leases 1,101,120 1,095,531 1,110,192 T Hangar Rentals and Tiedowns 773,560 772,241 776,275 Concessions, Vending and Fees 17,080 19,392 16,970 Airline Related Revenues - - - Advertising 34,080 31,471 24,996 Auto Parking 3,223,910 2,938,161 2,727,425 Car Rentals & Security Fees 5,748,720 5,272,229 4,794,768 Concessions 240 268 252 Food & Beverage 531,900 487,898 442,999 Ground Handling Fuel 186,500 179,498 175,490 Ground Transportation 15,830 14,097 11,900 Terminal Use Fees 169,080 168,601 166,344 LEO Award 61,670 36,855 80,300 TSA Reimbursement 37,680 37,587 37,587 Sida Badging 4,800 3,480 4,800 Total Airline Related Revenues 10,014,410 9,170,144 8,466,860 Other Revenues - 55,174 - TOTAL OPERATING REVENUES 14,787,400 13,995,971 12,990,837 OPERATING EXPENSES Salaries & Wages 3,177,310 3,001,650 3,044,725 Payroll Taxes & Retirement 664,010 563,174 573,022 Personnel Expenses 871,490 758,059 764,761 Cost of Fuel & Oil Sales 1,642,790 1,668,512 1,436,392 Advertising 10,800 10,779 6,000 Bank Charges 39,000 48,284 46,831 Dues & Subscriptions 43,080 41,382 39,003 Insurance 300,000 299,652 293,000 Legal & Professional 291,410 253,554 256,897 Licenses & Permits 4,950 9,113 5,073 Marketing & Promotional 200,040 105,911 200,000 Mowing 24,660 18,184 24,000 Postage 6,040 5,980 5,864 Repairs & Maintenance 523,860 469,675 491,726 Computer Maintenance & Expense 186,130 143,100 155,981 Supplies 295,390 224,932 270,639 Communications 39,550 38,810 34,049 Travel & Auto Allowance 70,230 48,069 74,739 Utilities 398,960 394,341 381,797 Security Expense 65,520 46,131 64,437 Airline Related Expenses 1,963,400 1,900,455 1,711,393 TOTAL OPERATING EXPENSES 10,818,620 10,049,750 9,880,329 OPERATING GAIN (LOSS) 3,968,780 3,946,221 3,110,507
BUDGET WORKSHOP AUG 2, 2018 FISCAL YEAR 2019 NON-OPERATING INCOME/EXPENSES PFC'S 3,200,580 1,507,834 1,443,449 Miscellaneous Revenues / (Expenses) - (159,276) - Gain/Loss of Asset Disposal - 28,963 - OPEB Post Retirement Benefit Accrual (5,280) (5,962) (5,261) Insurance Premium Refund - 22,203 - Interest on Investments 3,070 20,494 2,998 Cost to Finance (91,560) (105,565) (107,023) Bad Debts - (1,262) - Bank Fees (2,870) (3,147) (2,830) NET NON-OPERATING INCOME/EXPENSES 3,103,940 1,304,283 1,331,334 GAIN OR (LOSS) BEFORE CAPITAL CONTRIBUTIONS & DEPRECIATION 7,072,720 5,250,504 4,441,841 CAPITAL CONTRIBUTIONS Capital Grants & Contributions 16,611,450 4,088,598 6,630,804 TOTAL CAPITAL CONTRIBUTIONS 16,611,450 4,088,598 6,630,804 INCREASE OR (DECREASE) IN NET POSITION w/contributions 23,684,170 9,339,102 11,072,645 DEPRECIATION Depreciation (3,712,040) (3,675,473) (3,712,000) TOTAL DEPRECIATION (3,712,040) (3,675,473) (3,712,000) INCREASE OR (DECREASE) IN NET POSITION 19,972,130 5,663,629 7,360,645 CAPITAL EXPENDITURES FIXED ASSETS (944,700) (248,334) (474,900) CIPS (25,267,580) (5,130,981) (9,601,070) TOTAL CAPITAL EXPENDITURES (26,212,280) (5,379,314) (10,075,970) Debt Repayment SIB LOAN (578,760) (548,104) (563,177) Debt Repayment (578,760) (548,104) (563,177) NET ASSETS - Beginning of the Year Fund Balance Transfer In 7,915,815 1,333,101 4,284,438 Fund Balance Transfer Out - - - Reserves (1,096,905) (1,069,311) (1,005,936) NET ASSETS - Year to Date - 0 (0) TOTAL REVENUES 42,518,315 20,997,164 25,352,526 TOTAL EXPENDITURES (42,518,315) (20,997,164) (25,352,526) - 0 (0)