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Planning and Building Department, Airports Division, recommending the Board approve and authorize the Chair to sign a budget transfer adjusting the budget for Fiscal Year 2020-21 to increase General Fund contributions by $60,000 as a result of shortfalls identified during the year-end close process (4/5 vote required).
FUNDING: General Fund.
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DISCUSSION / BACKGROUND
In Fiscal Year (FY) 2020-21, expenses to operate the Georgetown Airport exceeded the budgeted revenues to offset operations. This has resulted in the need for an additional General Fund contribution to the Georgetown Airport Enterprise Fund.
During the budget development process for FY 2020-21, the Georgetown Airport anticipated needing $88,985 in General Fund contributions to operate the Airport. Throughout the fiscal year, the Georgetown Airport Enterprise Fund account brought in approximately $135,000 less revenue than anticipated, mostly due to less Federal revenue than budgeted. A Federal Aviation Administration (FAA) grant for obstruction removal at Georgetown Airport (CIP Project #3540200) budgeted at $79,200 and Coronavirus Aid, Relief, and Economic Security (CARES) Act funding through the FAA in the amount of $30,000 were not received, greatly impacting the total revenue budgeted for the airport.
Although budgeted appropriations were also unspent due to this unrealized revenue, ongoing expenses exceeded the available discretionary revenue. The Georgetown Airport is anticipated to require an additional General Fund contribution of approximately $50,000 above what was previously included. As staff continue to work through the year-end close process, additional expenses may be identified. Staff is recommending that in order to account for possible additional expenses, the contribution should be increased by $60,000 for a total General Fund contribution to the Georgetown Airport of $148,985 for FY 2020-21.
Staff anticipate adding both the obstruction removal CIP project and t...
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