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December 29, 2003
Weld County
Mr. Donald D. Warden
Director of Finance &Administration
915 10`h Street
Greeley, CO 80631
RE: 2004 Airport Authority Budget
Dear Mr. Warden:
Enclosed please find one copy of the 2004 Budget for the Greeley-Weld County Airport
Authority. This budget was approved by the Greeley-Weld County Airport Authority Board
of Commissioners at its December 18`h, 2003 regular meeting, and is provided for your
records.
Please call me at 336-3001 if there are any questions concerning this document.
Sincerely,
Ce. /2-ea.4-1,.
Michael A. Reisman, A.A.E.
Airport Manager
Enclosure
24 P.O. Box 727 Greeley, CO 80632 • (970)336-3000 • FAX(970)336-3030 2004-0068
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GREELEY-WELD COUNTY AIRPORT AUTHORITY
Greeley, CO
BUDGET MESSAGE - FY 2004
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 earned, and expenditures are recognized when 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 rehabilitation of certain airfield areas on the airport. Main sources of revenue are
from hangar and land rentals, 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 10,000 ft. runway, taxiway and new terminal building. All work
associated with this project was completed in 2003. Upgrades and reconstruction of a pre-
existing taxiway system was largely completed in 2003, and the rehabilitation of the
remaining section of taxiway and an older runway, are scheduled to be completed in 2004.
Some of the federal and state grants for these projects have been closed, while others
remain open for various reasons. Grants for work completed in 2003 will remain open into
2004, pending the successful closeout of the administrative portion of those projects.
Grants which have remained open due to claims filed by the general contractor are
expected to be closed out early in 2004, due to settlements of those issues which were
evident at the time of adoption of this budget.
Land Rental revenues are anticipated to increase only slightly due to the expected addition
of at least one new land lease in 2004. The airport's Board of Commissioners has
determined that a rental rate increase in 2004 will not be instituted, which will keep other
rental revenues generally flat.
Fuel flowage fees were slightly higher in 2003 than anticipated, but are forecast to remain
flat in 2004. Revenues from certain tax distributions are directly tied to fuel flowage fees
and are likewise forecast to remain flat.
Non-Operating Revenues are mostly grant related revenues for capital projects described
above.
P.O. Box 727 • Greeley, CO 80632 • (970)336-3000 • FAX(970)336-3030
Airport Personnel Services for 2004 includes the second half of a salary scale adjustment
which was approved in 2003 for certain positions within the organization. Additionally,
standardized salary increases are also included, as is an expected percentage increase
for employee health care.
Airport Utilities has moderate to substantial increases included as a result of forecast
increases to the cost of basic utilities. Additionally, capital improvements scheduled on the
airport will add additional utility load to the typical volumes used annually.
Other Airport Expenses for 2004 includes a new line item for Water Assessment Fees.
These costs were previously charged against water utilities.
Basic costs for property, liability and auto insurance are expected to increase by 10 percent
as a result of general premium increases in the industry.
Debt Service includes no principal or interest payments in 2004, as all of the Authority's
long term debt was retired late in 2003. Capital Lease Payments which are identified as
long-term debt are representative of the annual lease/purchase costs associated with the
acquisition of a new office copier in 2003.
Airport Funded Capital Outlay includes the purchase of one new motor vehicle in 2004, as
part of the Authority's multi-year vehicle replacement program. Also included in this line
item are planning services for the establishment of a contract air traffic control tower, the
cost of which is expected to be eligible for federal funding reimbursement at a yet to be
determined future date, improvements to the airport's fuel farm system to include
secondary containment in the upload/download area, and the acquisition of a vehicle lift
for equipment maintenance purposes. Other items include asphalt improvements which
is part of the on-going annual pavement maintenance program of the Authority. All other
capital expenditures are related to grant projects, in which actual expenses will equal
revenues from federal and state grants, and from local government matching funds.
In 2001, the Authority terminated its defined contribution pension plan for employees, in
favor of a Simplified Employee Pension (SEP) Plan. Beginning with this budget, the line
items for the defined contribution pension plan are no longer represented in the budget.
SUBMITTED:
/'h.
Michael A. Reisman, A.A.E.
Airport Manager
GREELEY-WELD COUNTY AIRPORT AUTHORITY
AIRPORT FUND - BUDGET
BUDGET YEAR ENDING DECEMBER 31', 2004
FINANCIAL RESOURCES PROVIDED
LEASES AND RENTALS
of Ns ° '� ., m
LAND RENTALS 178,234.00 215,035.00 215,425.00 220,000.00
HANGAR RENTALS 231,840.00 240,815.00 246,785.00 244,000.00
TIE-DOWNS 2,450.00 2,000.00 2,000.00 2,000.00
OFFICE SPACE 9,570.00 9,570.00 9,570.00 9,570.00
CANG RENT 2,278.00 2,278.00 2,278.00 2,278.00
ae 'xt:, rt 3 �a e i 9'4a:L $ `G 9g :1 11
i
" �,•i,..�.,,„....� g �:�, .. +..,.,"5 .y,,�d. � . '7410,74i * .9;�{ m� ..4..A'�� . —..EN _m ew-aeg __ .
•
OTHER OPERATING REVENUE
(3 i4;4 � " A l "..4,c 1I q{ k F".'`f 054Lh a .r ,,F Crn"'Gy eF a 'lO4
. �$ mot, ° 1 r,E t r�la.₹� t s;;. h
FUEL FLOWAGE FEES 23,658.00 18,500.00 22,125.00 22,000.00
OPERATOR LICENSES 3,400.00 2,900.00 2,700.00 3,100.00
STATE EXCISE TAX DIST. 29,128.00 23,000.00 23,347.00 23,000.00
JET FUEL SALES TAX REV. 10,151.00 13,000.00 13,000.00 13,000.00
FINANCE CHARGES 201.00 200.00 200.00 200.00
MISCELLANEOUS REVENUE 2,205.00 2,000.00 1,500.00 2,000.00
9n:^ L5 ' • ax' 11 `laataa`'' 4:1;:: c.7'F' r,iT r ��, ₹"t„r''4•:- ' h.° -,is,, �is 1'.
3 t 0�}sa' ',t;:; k '� !"f. r6 f;;V ;s*4.45l :;.%:42:11. �w4:1441, aa•• ' X f {
6m x�* +°fi ,� $u"�d F{ I ef.: § 34S l A�£d A w }}�, r@ p " YY d g g� a
!!7.... . .. .3....�., a; v'a, .,,.a ..,arr,.a.,.,.., a..'ar,,,, #.�2a�'',''i'I' sa _".«`ark, � S.: . .9a�, r .s.....s.
1
FARM REVENUE
&U&IIIUIE!IRIII!S!NI
LAND RENTAL 29,999.00 29,987.00 29,987.00 19,730.00
of +00±
NON-OPERATING REVENUE
�Ir ,
� � _ z„ , 6 �'�.e
.P.f, ���� nJ,�s =, b... ..... sn... �g1611 ..�.e �. .,ra 9
GRANTS FROM FAA 3,019,481.00 3,961,788.00 2,097,037.00 2,617,858.00
GRANTS FROM CAB 167,749.00 220,099.00 116,503.00 145,437.00
LCL GOVT. APPROPRIATIONS 167,749.00 220,099.00 116,503.00 145,437.00
INTERN GRANT REVENUE 0.00 0.00 7,800.00 2,200.00
EARNINGS ON INVESTMENT 3,458.00 4,580.00 4,380.00 4,000.00
OIL AND GAS LEASE REV. 6,475.00 6,000.00 9,595.00 7,500.00
LEASE REVENUE/GANG (2,278.00) (2,278.00) (2,278.00) (2,278.00)
PROCEEDS/SALE OF EQUIP. 2,172.00 1,000.00 0.00 11,000.00
PROCEEDS/CAPITAL LEASE 0.00 14,181.00 14,181.00 0.00
TOTAL RESOURCES 3,887,920.00 4,984,754.00 2,932,638.00 3,492,032.00
PROVIDED
2
FINANCIAL RESOURCES APPLIED
AIRPORT PERSONNEL SERVICES
SALARIES AND WAGES 207,745.00 217,120.00 195,950.00 222,517.00
OVERTIME EARNINGS 1,920.00 2,000.00 2,000.00 2,000.00
FICA 12,335.00 13,462.00 11,480.00 13,797.00
HEALTH & LIFE INSURANCE 25,126.00 32,250.00 32,435.00 33,175.00
UNEMPLOYMENT 0.00 0.00 0.00 0.00
6,401.00 5,600.00 5,600.00 5,980.00 WORKERS COMPENSATION
MEDICARE/CHILDCARE 2,885.00 3,150.00 2,730.00 3,227.00
RETIREMENT _ 10,119.00 10,856.00 9,098.00 8,752.00
m -t a o a s :x0 i.z' F�`QQ'.
AIRPORT CONTRACT SERVICES
..,'F a d9a0 tr 8 f, a 5
1 *?Y6 un m a.. '..� p 4 4 a®;oo&l�t�a m, e:E,fft 3E ..
AUDITING 5,000.00 5,000.00 5,000.00 5,000.00
SECURITY 1,439.00 1,500.00 1,290.00 1,800.00
3,192.00 2,500.00 6,200.00 3,000.00
LEGAL SERVICES
RETIREMENT PLAN ADMIN. 250.00 0.00 0.00 0.00
PROFESSIONAL SERVICES 1,455.00 2,000.00 2,000.00 2,000.00
3
AIRPORT SUPPLIES
a 'd-� mr , �, t�+,r�e r "�+' r `a un-m a '—i + x n- a i
'1,,i E ," 5° 9; l t tci1i;4 .e" tii;:€1 12ii "Z 4'i , 4ai "``;TA 4 0.
OFFICE SUPPLIES 2,165.00 1,700.00 1,700.00 1,900.00
CONSUMABLE SUPPLIES 3,355.00 3,500.00 2,880.00 3,200.00
CONSUMABLE TOOLS 458.00 1,000.00 370.00 300.00
SMALL ITEMS OF EQUIPMENT 3,482.00 6,700.00 9,300.00 3,660.00
UNIFORMS AND CLOTHING 3,126.00 3,500.00 3,770.00 3,700.00
COMPUTER SOFT./EQUIP. 971.00 2,350.00 2,230.00 5,885.00
d Y-L '":e x ,+. F x Bpi , ,tiffai Eli./ , S- C t 5. . aai4 $ G. Fat# 5.00
, ,"3Fi ,.,�i...�9 ax 3Y..4..,:...,,,i Yu x' +rxtrtlr a'm 5 „�,k's' ,Jx. ' .,
AIRPORT REPAIR AND MAINTENANCE
+l ''" ; ,i `� a �& i-. yet � r T r
a:sx 5�`
BUILDINGS 2,021.00 2,000.00 2,000.00 2,000.00
EQUIPMENT 9,653.00 10,000.00 6,200.00 10,500.00
GROUNDS 9,031.00 12,000.00 11,000.00 11,000.00
HANGARS 567.00 1,000.00 2,030.00 1,000.00
54 idoVIR.:
AIRPORT UTILITIES
da i ,11'i !l I . 4 2 4 444:4::° 4 I4 it FFIR 4Fig! .4444 � �
,= .: x }" ( .� ��r Ga''-.N. 14°a '� & lb' .. . @ - .;bra,..: .
TELEPHONE 9,205.00 10,000.00 7,375.00 10,000.00
ELECTRIC 21,194.00 24,985.00 27,050.00 32,000.00
WATER 6,025.00 5,000.00 13,370.00 6,000.00
GAS 8,339.00 13,190.00 8,500.00 17,000.00
7,--74141,,r- , ,,,r r 39 ?3 r +r ra 7 v a-�' - AF I a
Y
;a S, Y�.:- '.1 3 v,i.ax+ s34 .,�..� #,�,.t iI t i` t° at 1df`. .
4
OTHER AIRPORT EXPENSES
a a a 1
�® ff n
INSURANCE 37,525.00 46,765.00 44,360.00 50,930.00
WATER ASSESSMENT FEES 0.00 0.00 0.00 10,500.00
EQUIPMENT RENTAL 535.00 1,000.00 4,295.00 3,500.00
DUES 1,925.00 1,700.00 1,700.00 3,700.00
SUBSCRIPTIONS 129.00 300.00 0.00 300.00
MISCELLANEOUS 1,319.00 1,000.00 1,000.00 1,000.00
BAD DEBT 403.00 500.00 20,511.00 500.00
POSTAGE 1,734.00 2,400.00 2,100.00 2,500.00
ADVERTISING 3,580.00 3,000.00 2,610.00 2,500.00
FUEL FOR EQUIPMENT 3,976.00 4,500.00 5,180.00 4,500.00
MEETING EXPENSES 3,223.00 4,500.00 5,053.00 4,500.00
TRAVEL EXPENSES 4,957.00 5,500.00 3,980.00 5,500.00
ARFF EQUIPMENT & TRAINING 4,113.00 4,000.00 3,340.00 4,000.00
EPA STORM WATER PERMIT 232.00 232.00 386.00 386.00
CREDIT CARD FEES 0.00 300.00 300.00 500.00 rgt 4k�`.rm a a' A 9 1 #ye ya1 # V t1Q
CAPITAL OUTLAY BUDGET - From Separate Worksheets
-44 Faz 1'aka. oclm.ovw r .,
AIRPORT FUNDED 53,856.00 55,017.00 50,521.00 67,000.00
FAA FUNDED - AIP 10 thru 16 2,290,365.00 3,961,788.00 2,097,037.00 2,617,858.00
CAB FUNDED 127,242.00 220,099.00 116,503.00 145,437.00
CITY/COUNTY FUNDED 127,243.00 220,099.00 116,503.00 145,437.00
5
DEBT SERVICE BUDGET
INTEREST EXPENSE 4,239.00 1,090.00 1,090.00 0.00
PRINCIPAL 57,979.00 46,269.00 46,269.00 0.00
CAPITAL LEASE PAYMENTS 0.00 3,000.00 2,112.00 2,112.00
m u..
�, m.. 1 4 .. r',S-2x.12.00
TOTAL RESOURCES APPLIED 3,082,034.00 4,975,422.00 2,896,408.00 3,482,053.00
INCREASE (DECREASE) IN 805,886.00 9,332.00 36,230.00 9,979.00
RESOURCES
WORKING CAPITAL
itftiaiffa:ltth,L1.iLL;ia:ill?,"ii•na'tttLktlti:LkjefADSf•iT a :Oast?. 7°,54:100F,
BEGINNING OF YEAR (586,854.00) (554,312.00) 219,032.00 255,262.00
END OF YEAR 219,032.00 (544,980.00) 255,262.00 265,241.00
6
GREELEY-WELD COUNTY AIRPORT AUTHORITY
CAPITAL OUTLAY BUDGETARY DETAIL
BUDGET YEAR ENDING DECEMBER 31, 2004
AIRPORT FUNDED
ATCT PLANNING SERVICES 0.00 0.00 0.00 20,000.00
SPILL CONTAINMENT SYSTEM 0.00 0.00 0.00 7,500.00
AIRPORT VEHICLE UPGRADES 25,696.00 17,836.00 17,836.00 15,500.00
ASPHALT IMPROVEMENTS 14,551.00 20,000.00 18,504.00 20,000.00
FOUR POST VEHICLE LIFT 0.00 0.00 0.00 4,000.00
HGR 49 ROOF REPLACEMENT 13,609.00 0.00 0.00 0.00
FIRE SAFE CABINET 0.00 3,000.00 0.00 0.00
CAPITAL LEASE,- COPIER 0.00 14,181.00 14,181.00 0.00
4n� . t, . ve
FAA FUNDED
'fir � 'fit 0� 4 6 4 4 .-
idif arS.2 s. � :e s .r i s. d _. . .� as��m�.w.,sP ' 1`.. � �:.:RO[`.
AIP-10 191.00 105,197.00 75,000.00 30,197.00
AIP-11 25,627.00 531,591.00 200,000.00 395,479.00
AIP-12 1,360,527.00 0.00 75,000.00 113,742.00
AIP-13 1,570,376.00 1,400,000.00 1,400,000.00 338,237.00
AIP-14 62,760.00 75,000.00 72,037.00 15,203.00
AIP-15 0.00 1,850,000.00 275,000.00 1,575,000.00
AIP- 16 0.00 0.00 0.00 150,000.00
Retained From Contractor (768,218.00) 0.00 0.00 0.00
Grant Receivable 39,102.00 0.00 0.00 0.00
s44� * 3em s €a• eye
7
CAB FUNDED
As:t,:.; � -
AIP-10 GRANT MATCH 10.00 5,844.00 4,167.00 1,678.00
AIP-11 GRANT MATCH 1,424.00 29,533.00 11,111.00 21,971.00
AIP-12 GRANT MATCH 75,585.00 0.00 4,167.00 6,319.00
AIP-13 GRANT MATCH 87,243.00 77,778.00 77,778.00 18,791.00
AIP-14 GRANT MATCH 3,487.00 4,166.00 4,002.00 845.00
AIP-15 GRANT MATCH 0.00 102,778.00 15,278.00 87,500.00
AIP-16 GRANT MATCH 0.00 0.00 0.00 8,333.00
Retained From Contractor (42,679.00) 0.00 0.00 0.00
Grant Receivable 2,172.00 0.00 0.00 0.00
�a ra
a amps y� j�
�� b b _ I�[ t:: W e'3=�a p '' r P aayF��))���(yj�(�. n a Rt . , T* ad .. m .... ,[' i$1� _ at��l4'Jlt k� :i:mu.. y`1.i
CITY/COUNTY FUNDED
str':ti 104:fill Milt 7m .._ p aR.9 _ .n, , ,. �e .7t �°y' ---
, ni a.. .� `Y
AIP-10 MATCH 10.00 5,844.00 4,167.00 1,678.00
AIP-11 MATCH 1,424.00 29,533.00 11,111.00 21,971.00
AIP-12 MATCH 75,585.00 0.00 4,167.00 6,319.00
AIP-13 MATCH 87,243.00 77,778.00 77,778.00 18,791.00
AIP-14 MATCH 3,487.00 4,166.00 4,002.00 845.00
AIP-15 MATCH 0.00 102,778.00 15,278.00 87,500.00
AIP-16 MATCH 0.00 0.00 0.00 8,333.00
Retained From Contractor (42,679.00) 0.00 0.00 0.00
Grant Receivable 2,173.00 0.00 0.00 0.00
. pw ( xe d, .q .o� .
,p of -
TOTAL CAPITAL OUTLAY 2,598,706.00 4,457,003.00 2,380,564.00 2,975,732.00
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