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December 27, 2001
Weld County
Don Warden, Director of Finance & Administration
915 10`h Street
Greeley, CO 82631
Dear Mr. Warden:
Attached please find one copy of the 2002 Budget for the Greeley-Weld County Airport
Authority. This budget was adopted by the airport's Board of Commissioners on December
20th, 2001, and is being provided to you for your records.
Please call me at 336-3001 with any questions.
Sincerely,
Michael A. Reisman, A.A.E.
Airport Manager
D 1-o7-ase
P.O. Box 727 • Greeley, CO 80632 • (970) 3363000 • FAX(970)336-3030 2002-0086
GREELEY-WELD COUNTY AIRPORT AUTHORITY
RESOLUTION NO. 10-01
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR EACH FUND
AND ADOPTING A BUDGET FOR THE GREELEY-WELD COUNTY AIRPORT
AUTHORITY FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF
JANUARY, 2002, AND ENDING ON THE LAST DAY OF DECEMBER, 2002.
WHEREAS, the Greeley-Weld County Airport Authority has appointed its Airport Manager,
Michael A. Reisman, A.A.E., to prepare and submit a proposed budget to its governing
body at the proper time; and
WHEREAS, the Airport Manager has submitted a proposed budget to this governing body
on October 11th, 2001 for its consideration; and
WHEREAS, upon due and proper notice, published or posted in accordance with law, said
proposed budget was open for inspection by the public at a designated place, a public
hearing was held on December 20`h, 2001, and interested taxpayers were given the
opportunity to file or register any objections to said proposed budget; and
WHEREAS, whatever increases may have been made in the expenditures, like increases
were added to the revenues so that the budget remains balanced, as required by law.
NOW, THEREFORE, BE IT RESOLVED by the Greeley-Weld County Airport Authority
Board of Commissioners:
That the budget submitted and attached to this resolution is hereby approved
and adopted by the Greeley-Weld County Airport Authority for the year2002;
and
That the budget hereby approved and adopted shall be signed by the
Chairman (Acting)and Secretary and made a part of the pubic records of the
Authority.
ADOPTED this 20`h day of December, 2001.
ATTEST: GREELEY-WELD COUNTY
AIRPORT AUTHORITY:
.9fumo CC racy ',eta -
Bruce Stradley, SecretaryPfreasurer Glenn Vaa , hairman
GREELEY-WELD COUNTY AIRPORT AUTHORITY
RESOLUTION NO. 11-01
A RESOLUTION APPROPRIATING SUMS OF MONEY TO THE VARIOUS AIRPORT
FUNDS AND SPENDING AGENCIES, IN THE AMOUNTS AND FOR THE PURPOSE AS
SET FORTH BELOW, FOR THE GREELEY-WELD COUNTY AIRPORT AUTHORITY,
FOR THE 2002 BUDGET YEAR.
WHEREAS, the Greeley-Weld County Airport Authority has adopted the annual budget in
accordance with the Local Government Budget Law, on December 20th, 2001; and
WHEREAS, the Greeley-Weld County Airport Authority has made provisions therein for
revenues in an amount equal to or greater than the total proposed expenditures as set
forth in said budget; and
WHEREAS, it is not only required by law, but also necessary to appropriate the revenues
provided in the budget to and for the purposes described below, so as not to impair the
operations of the Authority.
NOW, THEREFORE, BE IT RESOLVED by the Greeley-Weld County Airport Authority
Board of Commissioners that the following sums are hereby appropriated from the
revenues of each fund, to each fund, for the purposes stated:
Total Airport Fund: $6,679,450.00
ADOPTED this 20th, day of December, 2001.
ATTEST: GREELEY-WELD COUNTY
AIRPORT AUTHORITY:
dftadIesarasurer A %ingUhairrnan
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GREELEY-WELD COUNTY AIRPORT AUTHORITY
Greeley, Colorado
BUDGET MESSAGE - FY 2002
The Greeley-Weld County Airport Authority currently accounts for all operations in
enterprise (proprietary) funds and uses the accrual basis of accounting. Revenues are
recognized when liabilities are incurred. This budget was prepared taking into
consideration the flow of financial resources or working capital. Services to be delivered
during the budget year include the general operation and maintenance of the Greeley-Weld
County Airport, and capital improvements associated with the expansion of the airport.
Budget data for Terminal Services is shown for FY 00 only, as these services were
terminated during the 2000 budget year. Main sources of revenue are from hangar rentals,
land leases, grant awards, and local government grant matches.
The airport began construction of its multi-year expansion project in 1997, which included
the construction of a new 10,000 foot runway, taxiway, and new terminal building.
Completion of all work except the taxiway was accomplished in 2000, with the taxiway now
scheduled for completion in 2002. While some federal and state grants have been closed,
several will remain open into 2002 or beyond pending completion of the taxiway, and
pending resolution of outstanding financial issues concerning the project. Additional capital
improvements programmed to begin in 2002 are not related to the airport's expansion
project, but are rather upgrades and re-habilitation of pre-existing infrastructure which has
reached or exceeded its useful life.
Terminal Sales Revenue and Cost of Goods Sold are no longer relevant since the airport
ceased providing these services during the 2000 budget year. Figures shown are carried
for FY 00 actual only.
Leases and Rentals provide for a standard Consumer Price Index escalation for Land -
Rentals, and a pre-arranged increase in Office Space revenue pursuant to the contractual
obligations of one tenant.
Other Operating Revenue is higher than is typical, due to an increase in Fuel Flowage
Fees resulting from the existence of a second public fuel supplier on the airport, and from
the expected receipt of a contractors settlement payment on the accidental destruction of
airport property.
PO Box 727 • Greeley, CO 80632 • (970]336-3000 • FAX(97W 336-3030
Budget Message - FY 2002
Page 2
In Non-Operating Revenue, it was anticipated that all grants existing prior to 2002 would
be closed out by the end of 2001. Several of these will remain open as those projects
were not completed in 2001 as anticipated, and due to outstanding financial issues with
contractors. New grants anticipated in 2002 are for a runway and taxiway re-construction
project, and for the conduct of a long-term planning study. Local Government
Appropriations represent matching funds for these grants, as well as matching fund grants
from the State of Colorado.
Airport Personnel Services shows a moderate increase over the prior year, due mainly to
substantial increases in insurance coverage for employees.
Differences in Airport Utilities are the result of now having historical data to use as a
reference for future programming. In 2001, there was no history of costs associated with
new improvements which had recently come on line.
Airport Funded Capital Outlay includes radio equipment for additional vehicles acquired in
2001, the purchase of a new vehicle in 2002, the continuation of the airport's pavement
maintenance program, the rehabilitation of the roof of an airport owned hangar facility, and
the construction of a new storage shed which will be funded by the contractors settlement
for accidental destruction of airport property. The new vehicle and rehabilitation of the
hangar roof will be funded through the airport's Capital Reserve Sinking Fund, and account
for the overall decrease in airport resources budgeted for 2002.
In 1993,the AirportAuthority approved the establishment of a defined contribution pension
plan for its employees. In 2001, the AirportAuthority terminated this plan, and established
a Simplified Employee Pension (SEP) plan. The Pension Plan fund identifies the payout
of all funds that existed just prior to the termination of the plan. Contributions to each
employees SEP plan by the Airport Authority has been established at five (5) percent of
each employee's annual salary. Each employee is fully vested in the plan upon eligibility,
which is after one full year of employment with the Airport Authority.
SUBMITTED:
m. a fie..)
Michael A. Reisman, A.A.E.
Airport Manager
GREELEY-WELD COUNTY AIRPORT AUTHORITY
AIRPORT FUND - BUDGET
BUDGET YEAR ENDING DECEMBER 31st, 2002
FINANCIAL RESOURCES PROVIDED
TERMINAL SALES REVENUE
AUTOGAS 0.00 0.00 0.00 0.00
JET A 282,748.00 0.00 0.00 0.00
OIL 520.00 0.00 0.00 0.00
PILOT SUPPLIES 13,429.00 0.00 0.00 0.00
CATERING SUPPLIES 541.00 0.00 0.00 0.00
AVGAS 100LL 216,097.00 0.00 0.00 0.00
DISCOUNTS (58,390.00) 0.00 0.00 0.00
tS �„ �� CE{E ,, 42 $1.�.... i wsa�5 x '+e
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6
COST OF GOODS SOLD
AUTOGAS 0.00 0.00 0.00 0.00
JET A 153,994.00 0.00 0.00 0.00
OIL 384.00 0.00 0.00 0.00
PILOT SUPPLIES 9,284.00 0.00 0.00 0.00
CATERING SUPPLIES 419.00 0.00 0.00 0.00
AVGAS 100LL 142,531.00 0.00 0.00 0.00
s i
GROSS MARGIN 148,333.00 0.00 0.00 0.00
1
LEASES AND RENTALS
LAND RENTALS 116,545.00 160,860.00 164,883.00 170,490.00
HANGAR RENTALS 218,817.00 243,568.00 234,900.00 243,800.00
TIE-DOWNS 2,491.00 1,500.00 2,400.00 1,800.00
OFFICE SPACE 5,136.00 5,136.00 5,136.00 9,570.00
LANG RENT 2,278.00 2,278.00 2,278.00 2,278.00
OTHER OPERATING REVENUE
FUEL FLOWAGE FEES 6,621.00 7,000.00 14,500.00 14,000.00
OPERATOR LICENSES 2,500.00 2,500.00 2,700.00 2,900.00
STATE EXCISE TAX DIST. 9,969.00 19,000.00 19,000.00 19,000.00
JET FUEL SALES TAX REV. 19,156.00 11,000.00 11,000.00 11,000.00
FINANCE CHARGES 108.00 200.00 100.00 200.00
OXYGEN 540.00 0.00 0.00 0.00
MISCELLANEOUS REVENUE 4,721.00 2,000.00 2,900.00 10,000.00
FARM REVENUE
LAND RENTAL 28,334.00 28,322.00 30,150.00 30,400.00
2
NON-OPERATING REVENUE
F.
GRANTS FROM FAA 2,666,307.00 1,895,000.00 1,045,000.00 5,509,900.00
GRANTS FROM CAB 148,128.00 102,500.00 58,055.00 306,104.00
GRANTS FROM ENERGY IMP. 58,127.00 0.00 0.00 0.00
LCL GOVT. APPROPRIATIONS 148,128.00 102,500.00 58,055.00 306,104.00
EARNINGS ON INVESTMENT 7,256.00 5,000.00 5,000.00 6,000.00
OIL AND GAS LEASE REV. 13,716.00 13,000.00 15,000.00 18,000.00
INTER-GOVT. REV./GREELEY 72,527.00 200,000.00 230,000.00 0.00
INTER-GOVT. REV./WELD CO. 72,527.00 200,000.00 230,000.00 0.00
LEASE REVENUE/CANG (2,278.00) 0.00 (2,278.00) (2,278.00)
INTER-GOVT. REV./STATE 0.00 23,000.00 0.00 0.00
PROCEEDS/SALE OF EQUIP. 0.00 0.00 0.00 1,000.00
PROCEEDS/NOTE PAYABLE 0.00 0.00 0.00 0.00
GRANTS RECEIVABLE 0.00 0.00 1,205.00 0.00
TOTAL RESOURCES 3,749,987.00 3,024,364.00 2,129,984.00 6,660,268.00
PROVIDED
3
FINANCIAL RESOURCES APPLIED
AIRPORT PERSONNEL SERVICES
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SALARIES AND WAGES 243,500.00 189,120.00 182,600.00 202,195.00
OVERTIME EARNINGS 3,758.00 2,000.00 2,000.00 2,000.00
FICA 15,740.00 11,725.00 11,200.00 12,536.00
HEALTH & LIFE INSURANCE 18,471.00 15,487.00 21,300.00 27,800.00
UNEMPLOYMENT 0.00 0.00 0.00 0.00
WORKERS COMPENSATION 9,577.00 4,355.00 4,355.00 8,420.00
MEDICARE/CHILDCARE 3,681.00 2,742.00 2,656.00 2,932.00
RETIREMENT 14,377.00 9,456.00 7,563.00 10,110.00
AIRPORT CONTRACT SERVICES
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AUDITING 5,000.00 5,000.00 5,000.00 5,000.00
SECURITY 1,079.00 1,000.00 1,000.00 1,000.00
LEGAL SERVICES 3,270.00 3,000.00 2,500.00 3,000.00
RETIREMENT PLAN ADMIN. 1,212.00 2,500.00 2,500.00 300.00
PROFESSIONAL SERVICES 1,898.00 3,000.00 3,000.00 2,000.00
4
AIRPORT SUPPLIES
OFFICE SUPPLIES 2,949.00 1,800.00 2,100.00 2,000.00
CONSUMABLE SUPPLIES 6,093.00 7,000.00 3,675.00 3,500.00
CONSUMABLE TOOLS 1,011.00 1,000.00 500.00 1,000.00
SMALL ITEMS OF EQUIPMENT 2,585.00 1,500.00 2,100.00 3,500.00
UNIFORMS AND CLOTHING 5,075.00 4,000.00 3,200.00 3,500.00
COMPUTER SOFT./EQUIP. 282.00 500.00 500.00 1,000.00
AIRPORT REPAIR AND MAINTENANCE
BUILDINGS 1,054.00 1,500.00 2,000.00 2,500.00
EQUIPMENT 11,381.00 8,000.00 8,500.00 9,500.00
GROUNDS 7,812.00 16,000.00 13,600.00 10,000.00
HANGARS 11,361.00 2,000.00 500.00 1,000.00
AIRPORT UTILITIES
TELEPHONE 11,620.00 4,000.00 5,250.00 8,200.00
ELECTRIC 20,141.00 26,000.00 18,000.00 20,000.00
WATER 7,095.00 15,000.00 6,150.00 6,800.00
GAS 12,005.00 12,000.00 12,000.00 10,990.00
5
OTHER AIRPORT EXPENSES
INSURANCE 25,754.00 27,500.00 30,000.00 34,500.00
MISCELLANEOUS AIR SHOW 3,882.00 4,000.00 4,150.00 4,000.00
EQUIPMENT RENTAL 1,011.00 1,000.00 250.00 1,000.00
DUES 1,765.00` 1,700.00 1,700.00 1,700.00
SUBSCRIPTIONS 197.00 300.00 300.00 300.00
MISCELLANEOUS 2,428.00 1,500.00 1,200.00 1,500.00
BAD DEBT 6,479.00 500.00 500.00 500.00
POSTAGE 2,008.00 2,500.00 2,500.00 2,200.00
ADVERTISING 2,922.00 10,000.00 10,000.00 4,500.00
FUEL FOR EQUIPMENT 6,370.00 6,000.00 5,200.00 6,000.00
MEETINGS 3,858.00 4,000.00 2,500.00 4,000.00
LOCAL TRAVEL 580.00 1,000.00 500.00 500.00
NON-LOCAL TRAVEL 4,005.00 7,000.00 4,000.00 7,500.00
ARFF EQUIPMENT & TRAINING 0.00 0.00 5,775.00 5,000.00
EPA STORM WATER PERMIT 159.00 159.00 159.00 159.00
PROCESSING CHARGES 5,219.00 0.00 0.00 0.00
COMP. FOR DAMAGES 0.00 0.00 0.00 0.00
CAPITAL OUTLAY BUDGET - From Separate Worksheets
Yomr€5.
AIRPORT FUNDED 118,166.00 24,500.00 36,384.00 60,800.00
FAA FUNDED - AIP 13 thru 15 2,666,307.00 1,895,000.00 1,045,000.00 5,509,900.00
CAB FUNDED 148,128.00 102,500.00 58,055.00 306,104.00
CITY/COUNTY FUNDED 291,969.00 502,500.00 518,055.00 306,104.00
ENERGY IMPACT FUNDED 58,127.00 0.00 0.00 0.00
6
DEBT SERVICE BUDGET
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INTEREST EXPENSE 10,441.00 7,488.00 7,488.00 4,347.00
PRINCIPAL 51,874.00 54,912.00 54,912.00 58,053.00
TOTAL RESOURCES APPLIED 3,833,676.00 3,003,744.00 2,112,377.00 6,679,450.00
INCREASE (DECREASE) IN (83,689.00) 20,620.00 17,607.00 (19,182.00)
RESOURCES
WORKING CAPITAL
BEGINNING OF YEAR 333,526.00 298,701.00 249,837.00 267,444.00
END OF YEAR 249,837.00 319,321.00 267,444.00 248,262.00
7
GREELEY-WELD COUNTY AIRPORT AUTHORITY
CAPITAL OUTLAY BUDGETARY DETAIL
BUDGET YEAR ENDING DECEMBER 31, 2002
AIRPORT FUNDED
RADIO EQUIPMENT 0.00 3,000.00 2,718.00 1,300.00
COMPUTER EQUIPMENT 0.00 1,800.00 1,798.00 0.00
AIRPORT VEHICLE UPGRADES 0.00 0.00 7,000.00 25,500.00
ASPHALT REPAIRS 13,272.00 15,000.00 19,140.00 15,000.00
ROTARY MOWER 10,500.00 0.00 0.00 0.00
TRACTOR SPRAYER 0.00 3,500.00 4,713.00 0.00
ENVIRONMENTAL MITIGATION 31,809.00 0.00 0.00 0.00
AIRCRAFT TUG 15,195.00 0.00 0.00 0.00
WATER SLEEVE 28,000.00 0.00 0.00 0.00
ROAD IMPROVEMENTS 15,000.00 0.00 0.00 0.00
TABLE TOP DISPLAY 3,185.00 0.00 0.00 0.00
NON-REIMBURSABLE GRANTS 1,205.00 0.00 0.00 0.00
HGR 49 ROOF REPLACEMENT 0.00 0.00 0.00 11,000.00
STORAGE BUILDING 0.00 0.00 0.00 8,000.00
DECELEROMETER 0.00 1,200.00 1,015.00 0.00
ENERGY IMPACT FUNDED
a• "`•
TERMINAL CONSTRUCTION 58,127.00 0.00 0.00 0.00
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8
FAA FUNDED
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AIP-09 286,137.00 0.00 0.00 0.00
AIP-10 689,674.00 500,000.00 290,000.00 107,300.00
AIP-11 1,690,496.00 0.00 530,000.00 782,600.00
AIP-12 0.00 1,395,000.00 225,000.00 1,170,000.00
AIP-13 _ 0.00 0.00 0.00 150,000.00
AIP-14 0.00 0.00 0.00 1,700,000.00
AIP-15 0.00 0.00 0.00 1,600,000.00
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CAB FUNDED
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AIP-09 GRANT MATCH 15,897.00 0.00 0.00 0.00
AIP-10 GRANT MATCH 38,315.00 25,000.00 16,111.00 5,961.00
AIP-11 GRANT MATCH 93,916.00 0.00 29,444.00 43,478.00
AIP-12 GRANT MATCH 0.00 77,500.00 12,500.00 65,000.00
AIP-13 GRANT MATCH 0.00 0.00 0.00 8,333.00
AIP-14 GRANT MATCH 0.00 0.00 0.00 94,444.00
AIP-15 GRANT MATCH 0.00 0.00 0.00 88,888.00
9
CITY/COUNTY FUNDED
AIP-09-MATCH 15,897.00 0.00 0.00 0.00
AIP-10 MATCH 38,315.00 25,000.00 16,111.00 5,961.00
AIP-11 MATCH 93,916.00 0.00 29,444.00 43,478.00
AIP-12 MATCH 0.00 77,500.00 12,500.00 65,000.00
AIP-13 MATCH 0.00 0.00 0.00 8,333.00
AIP-14 MATCH 0.00 0.00 0.00 94,444.00
AIP-15 MATCH 0.00 0.00 0.00 88,888.00
TERMINAL BUILDING PJT 114,633.00 0.00 0.00 0.00
ROAD/INFRASTRUCTURE IMP. 0.00 400,000.00 460,000.00 0.00
INFRA. MASTER PLAN 29,208.00 0.00 0.00 0.00
� `� I c s:• � s n�&E � Ic s r s e 'i � sa"a5 s n�„
TOTAL CAPITAL OUTLAY 3,164,531.00 2,500,000.00 1,657,494.00 6,130,108.00
10
GREELEY-WELD COUNTY AIRPORT AUTHORITY
EMPLOYEE PENSION FUND - BUDGET
BUDGET YEAR ENDING DECEMBER 31, 2002
RESOURCES PROVIDED
EMPLOYER CONTRIBUTIONS 14,377.00 9,456.00 0.00 0.00
EARNINGS ON INVESTMENT 11,459.00 1,000.00 0.00 0.00
GAIN ON SALE OF INV. (27,107.00) 0.00 0.00 0.00
RESOURCES APPLIED
DIST. TO EMPLOYEES 0.00 42,615.00 81,712.00 0.00
ADMINISTRATION FEES 250.00 1,575.00 250.00 0.00
INCREASE (DECREASE) IN (1,521.00) (33,734.00) (81,962.00) 0.00
FUND BALANCE
FUND BALANCE
BEGINNING OF YEAR 83,483.00 98,860.00 81,962.00 0.00
END OF YEAR 81,962.00 65,126.00 0.00 0.00
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