HomeMy WebLinkAbout06/18/2013 11 Yakima Air Terminal Budget ReportBUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. t'
For Meeting of: 6/18/2013
ITEM TITLE: Yakima Air Terminal, Budget Report for the two months
ending April 30, 2013.
SUBMITTED BY: Rob Peterson, Interim Airport Manager
Cindy Epperson, Director of Finance and Budget
SUMMARY EXPLANATION:
The effective date of the City taking sole ownership and operational responsibility for the
Yakima Air Terminal (YAT) was March 1, 2013. Yakima County paid all the bills and processed
all the activity through the end of February. They transmitted the fund balances by a warrant in
the amount of $725,133, broken out as follows:
General Operating Fund $226,962
Special Grant Fund 1,554
Passenger Facility Charge (Capital) 496,617
To ease the administrative burden in this hand -off, the 2013 budget that was previously
approved by City Council on November 20, 2012 was carried forward into the City's accounting
system.
For the 2 months of March and April, 2013, operating revenues of $167,799 exceeded the
expenditures of $125,318 by $42,481. This activity leaves a cash balance of $269,443 at the
end of April, which was enough to cover the County SIED loan repayment of $256,100 in May.
These costs include a retirement cash -out of a long -term maintenance employee.
Several budget strategies have been put in place so that the airport can end the year in a
balanced position. These include the vacancy of the Airport Manager, the transfer of their
Financial Services Specialist into a vacancy in the Finance Department, and holding the
maintenance retiree's position vacant until September, all are expected to save a minimum
of $150,000 in 2013. Also, the transferring of the Law Enforcement Officer security program
from YAT paying City Police Officers for off -duty employment to a guaranteed response by on-
duty officers eliminates about $12,000 for the rest of 2013. With these measures in place, YAT
is on its way to be balanced at the end of 2013.
Resolution:
Ordinance:
Other (Specify): Yakima Air Terminal Income Statement for the two
months ended April 30, 2013
Contract:
Start Date:
Item Budgeted: NA
Funding Source/Fiscal
Impact:
Strategic Priority:
Insurance Required? No
Mail to:
Phone:
APPROVED FOR
SUBMITTAL:
RECOMMENDATION:
Accept Report
Contract Term:
End Date:
Amount:
Airport Operations
Public Trust and Accountability
City Manager
ATTACHMENTS:
N2me: Description:
F-] Copy of March-April Income statement.x1sx YAT Income Stmt Mar and Apr 2013
City of Yakima
Yakima Air Terminal
Income Statement
For Two Months Ending April 30, 2013
Operating Expenses
Airfield
$66,674
2013
Beginning Fund Balance March 1, 2013
$226,962
Annual Budget
Operating Revenues
470
3,800
Airfield
$54,978
$337,798
Terminal
47,114
346,147
Commercial
28,254
189,722
Parking Lot
37,346
200,000
Operating Interest
107
360
Total Operating Revenues
$167,799
$1,074,027
Operating Expenses
Airfield
$66,674
$378,839
Terminal
19,166
146,068
Commercial Rents
470
3,800
Security
729
96,200
Parking Lot
59
600
Administration
38,219
445,685
Total Operating Expenses
$125,318
$1,071,192
Operating Income /(Loss)
$42,481
$2,835
Ending Fund Balance April 30, 2013
$269,443