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09-13-2012 Regular Meeting -- Peachtree City Airport Authority (PCAA) Regular Minutes Thursday, September 13th, 2012 Aviation Center, Peachtree City-Atlanta Regional Airport 7:00 p.m. Members Present: Chairman - Richard Whiteley, Vice Chairman - Bill Flynn, George Harrison, Zaheer Faruqi, Bill Rial. Aviation Director - Bryan LaBrecque, Airport Manager -Hope Macaluso, A.A.E. and Airport Attorney - Doug Warner. I. CALL THE MEETING TO ORDER Richard Whiteley called the meeting to order at 7 :05 p.m. II. APPROVAL OF MINUTES Bill Flynn made a motion to approve the August minutes, seconded by George Harrison. Motion Carries, 5/0. III. REPORTS Airport Safety & Operations - George Harrison (Present) ;t_ George Harrison noted that during the NASCAR weekend, everyone was professional and safety conscious. He wanted to note that Baird Huffstickler did an outstanding job when a customer was in need of a rental car and handled the situation quickly and professionally. Bill Flynn asked for an update on the issue of fuel storage in hangars. George responded that he had not had the opportunity to look at it in detail. Richard Whiteley made the recommendation that once a year the Fire Marshall and airport management should conduct an audit of hangars. Richard further stated that the Authority would need to come up with a plan of action and that the topic should become an agenda item. Bill Rial moved to make the hangar audit process an agenda item. Bryan LaBrecque noted that the airport has not received specifics on what will be required of an audit but he would pursue the issue further with the Fire Marshall. Bill Rial agreed that we needed more guidance prior to moving forward. Richard agreed we should move forward with the beginnings of a plan. George Harrison agreed that the plan should be an agenda item. Bryan continued on to inform the board that he had pulled the lease and sections 23 and 24 stated the following: Section 23: "HAZARDOUS OPERA nONS. Unless the hangar or structures location the Premises are protected with a fire protection system as required under NFP A Fire Code 40, or as required by the Fire Marshall of Peachtree City, hazardous ,~ operations such as fuel transfer, welding, torch cutting, torch soldering, doping, spray painting or as may be otherwise specified in NFP A Fire Code 409, are prohibited inside the hangar or structures." Section 24 ".. .RIGHT TO ENTER. Lessor shall have the right to enter the Premises at any time for purposes related to public health, safety and welfare. Lessee agrees to provide Lessor with a key to any lock used to secure the Premises, and Lessor agrees to maintain any such key in a secure location under its direct controL" Finance & Capital Budgeting - Bill Flynn (Present) Bill Flynn mentioned that the budget was sent out with minor changes. Bill also noted that there were no issues to report. Richard asked Bryan if budget was distributed to the board, where Bryan acknowledged that it had been sent out. Tenant & Community Relations - Bill Rial (Present) No items. -- Marketing - Zaheer Faruqi (Present) Zaheer Faruqi noted that the meeting with Mike Melton about NASCAR was a great meeting and a good job to the staff for a successful event. Zaheer noted that he would like to see more traffic in the future and stated that location seemed to not be an issue for many of the crews. Operations - Airport Manager, Hope Macaluso (Present) Hope Macaluso began by mentioning that she began the process of reviewing the employee medical insurance renewal. She has had the initial conference call this week, but will not know next year's premiums for several weeks. She is also waiting on a quote from our airport liability carrier. She expects an increase in premium which is reflected in the Fiscal Year 2013 budget. Hope noted that Taty Nizker and she have been working hard to close out AlP 22, which is the last remaining grant directly with the FAA. The only other open grant at this time is with GDOT for the design of the overlay, which has still not been completed. Hope noted she and Bryan are planning to review the proposals for our engineering services. They will also be conducting face to face interviews with many of the firms. Unfortunately, with the budgeting process going on this for the majority of this month, they were not able to complete their assessment of the proposals in order to make a recommendation this month. The board can expect a recommendation in the October meeting. Hope noted that one of the linemen, Tristen Jerome, has elected to terminate his employment with us. He had been working part-time with Delta Air Lines and has been given a full time position with them as of today. Weare in the process of interviewing for his replacement. We have elected not to fill one position at the front desk, but have been filling in as needed - with linemen - that have cross trained on the position. This has worked out very well so far. Bryan stated we were sad to see Tristen leave but were glad to see him in a full time position at Delta. Hope further noted that she and Danny Sorrells have been working to renew our Wildlife Control permit with the GA Department of Natural Resources. Our current permit expires at the end of this month. Hope spent the next few moments discussing internet issues with the Authority. She indicated that for the past few years the airport has been providing internet to many of the tenants at no cost to them. This has been accomplished by one of the tenants adding a repeater to the airport's wireless internet. He has a signal booster in the FBO equipment closet and an antenna repeater on the exterior comer of the FBO building on the airport's satellite tower. Last week Mike Melton ran a diagnostic on the speed of internet service and found that the speed is cut in half because of this added equipment. Hope spoke to the tenant and let him know they needed to find an alternative due to the decrease in our productivity caused by his repeater. Customer Service has had complaints from transient passengers and crews that the internet service within the FBO walls is slower than they are used to. We assume that may have complaints from tenants as a result of this situation. We are in the process of exploring other options. Hope noted this situation resulted from a decision made by previous management and there was currently nothing in writing regarding the past agreement. Zaheer asked if there were any potential security issues, to which Hope responded there were none due to our fire wall. Bill Rial understood that there may need to be a change to the previous agreement between the tenant and previous management, but suggested that prior to implementing, there be communication/discussion with the tenant in question. _. Lastly, the airport received an email from the fire marshal in regards to hangar inspection. It is his recommendation that "annual inspections be made of every hanger to ensure compliance with all applicable code requirements. The Peachtree City Fire Department Fire Marshal office is willing to conduct these inspections with or without a representative of the Board present." - Mike Melton gave a quick rundown of the numbers produced from the NASCAR Race Weekend. During the course of4 days the airport pumped over 8,500 gallons of Jet fuel, meeting halfthe goal of September's budgeted Jet fuel target. Those numbers were nearly 2 and a halftimes what NASCAR weekend had produced for the airport in the past, on a similar weekend. Hope also updated the board on the cleaning of the fuel farm. The tanks had been in need of some serious cleaning. She extended a special thanks to one of our lineman - Andrew Johnson - who spent a day cleaning the tanks (with water only). IV. FINANCIAL REVIEW - Aviation Director - Bryan LaBrecque Bryan LaBrecque reported that August was a strong financial month, more so than the previous two months and that the month of September was also off to an excellent start. Overall, the Net Income from Operations was $16,794 - 58% better than budget and significantly improved over July. - Revenues were nearly $12,000 higher than budgeted. The primary drivers were fuel sales (particularly Jet Fuel) and hangar leases. Jet fuel sales were vastly improved month over month, and an astonishing 45% better than budgeted. The increase is primarily attributed to strong volume (19,000 gallons) and strong margin (41.6%) AvGas volumes were on target as was the margin. Hangar leases were nearly 7% higher than budgeted, notwithstanding the fact that we still have three hangars currently vacant. Expenses last month were approximately $7,500 - or nearly 12% - higher than plan. The key expense drivers were payroll (17% over) and maintenance (60% over). With regard to the payroll miss, we are continuing to accrue for the incentive program, causing expenses to be up slightly. As we have seen throughout the year, the maintenance issues were wide and varied. A weekago Wednesday, the runway lights failed and we had to employ a contractor to help resolve the issue prior to the NASCAR race, which we paid a premium for the quick turnaround on the contractor's part. Bryan noted that 30% of the lights around the airport are out of tolerance and eventually we will need a new system to bring everything up to speed. Overall the airport is on schedule to exceed the projected income for the year. Bryan credited all the team here at the airport for working hard and leading success. Bryan also noted that the incentive program has certainly helped the team go above and beyond. Bryan did report that runway length has been an inhibitor for some of the fuel sales but actual length numbers should be corrected with the FAA for the upcoming year. l~> Bryan noted that the airports cash position was $733,000, down from $751,000 last month. Accounts Receivable was down and Accounts Payable was up to $32,000. Bryan noted that the airport paid $145,000 to have the roofrepaired and has 25% of that amount .... ,~ has already been replace in the cash reserves. Bryan then opened to the board for any questions. Richard asked if we intentionally budgeted a $1,000 loss for September. Bryan understood that it was budgeted that way and acknowledges that the budget is correct. Richard asked if the loss includes the incentive accrual. Bryan answered in the affirmative and further stated that by the end of the year the board will see several thousand put back in to correct. Following the internal financial audit - assuming authority concurrence - the airport plans payout the incentive program to the employees. Richard inquired as to the dispersal timing. Bryan answered by saying the payout will be in November due to the timing ofthe internal audit. Richard stated that Hope and Bryan would do the math on the incentive, and the individual amounts do not need Authority approval. v. OLD AGENDA ITEMS 8-11-02 Update on Ted Mallory Memorial Plaque Bill Rial stated that he has coordinated with the board members regarding the date for dedication. Mrs. Mallory would like the event to be a "family only" event. Bryan asked if the agenda item is to be closed. Bill Rial recommended the items be closed. Richard stated the item was complete. - 8-12-01 Callula Hills Rezoning Application Update and Discussion on Impact on Airport Discussion on the potentiaLl\ezoning of the Callula Hills project and its potentialimpact on the airport (current and future) ensued. As the airport undertook a review, we found that an earlier attempt to rezone this property resulted in a PCAA memo from previous management that conveyed no concern over the then proposed rezoning with several provisos (including a provision that the RPZ be protected from build). Since the initial proposal for the development in 2009 Atlanta Regional Airport runway has been extended further east which resulted in an expanded RPZ. In accordance with Federal Aviation Administration regulations, no building or gathering of people can take place within the RPZ. The new RPZ extends much further into the Callula Hills property. This situation prompted several discussions among the Authority. The following summarizes these discussions: . Bryan stated that under today's guidelines we cannot extend further north due to the location of the localizer antennae. . Bill Rial stated thatfor the record that is our plan to take the runway to 6,001' and we currently have an agreement with Sany Corp. Richard stated the agreement with Sany Corp. was to not move the displaced threshold. . Bill Flynn stated that it is clear, the Callula Hills property infringes on our RPZ. ~ Bryan concluded his presentation to the board. Richard stated that our goal is to protect the future of the airport. George Harrison noted that when taking off on runway 31 toward the proposed development, he passes by the hill where the development would be located. He continued on to note that even as a pilot - who enjoys aircraft - he would be upset since an aircraft - even if it made an immediate left turn - would still be loud. Zaheer mentioned the upcoming meeting with the planning commission regarding the zoning of Callula Hills. George stated that as the airport we need to make this new information known to those making decisions. Richard agreed that this information (updated RPZ overlay) is new information since the previous proposal. George noted that should a light twin aircraft lose its right engine, it would most probably end up on the hill in the residential area should the pilot be unable to gain back full control. Bill Rial agreed with George and noted that even with a change in published instrument minimums, the development could still be a problem. Richard suggested we develop a deliverable that would exhibit our views and we meet with the decision makers to voice our concerns. Zaheer agreed and further supported the concern by noting during the recent NASCAR event, the airport had jets departing as late as 2:30am. Zaheer continued on to mention the airport needs more traffic and to accomplish that means more noise for that area. Bill Flynn moved to send a letter to the city council not supporting the project. Movement seconded by George Harrison. Motion passed 5/0. Item closed. Following the motion, the meeting was opened to the public for comments. A representative of the Callula Hills development group expressed his displeasure with the findings and the motion passed. VI. NEW AGENDA ITEMS 9-12-01 FY 2013 Budget Review and Consideration Bryan quickly reviewed the email sent to the board regarding the proposed FY 2013 budget. Bryan mentioned that the key driver ofthe drop in Net Income (yr-over-yr) was due primarily to the cancellation of the 2012 air show - which would have taken place in FY 2013 (nearly $30,000 in potential income). Unlike last year's budget, the proposed FY 2013 budget includes the new incentive program accrual. Forecasted fuel sales are based on lower volumes but higher margins. Bryan continued on to highlight some of the expense differences: Advertising cost are down, Slight increase in insurance cost, employee health insurance budgeted to expand participants, repairs and maintenance re- categorized, payroll increased by 2.5% (rate adjustments), and Hotel Motel Tax proposed fixed rate with CVB/PTC. Bryan further noted that one of the largest revenue hits in the budget was due to the hotel/motel tax adjustment and that the airport team is "mining" several new opportunities to re-coup that lost revenue. Finally, he mentioned that the Great Georgia Air Show has had several conversations with the airport regarding CY 2013 and we are all excited about the impending return of the show. Richard asked what assumptions were made on developing the numbers for fuel. Bryan said they had taken out the appropriated numbers for the airshow and the remaining gallons were reduced to 95% of previous year sales volume. There was also an increase ,- of 2% on margins. He noted that this would result in competitive Jet fuel pricing and flat on A v Gas pricing. Bill Flynn moved to approve proposed Fiscal Year 2013 Budget, George Harrison seconds and the motion carried unanimously 5/0. Item closed. 9-12-01 Discussion of Capital Improvement Program Bill Flynn began the discussion by asking the management team how the AlP priorities were established. Bryan responded that the team set preliminary priorities but the final priority is established by the Authority. Before proceeding into the particulars regarding the proposed FY 2013 AlP, Bryan noted that in the past the FAA has assisted in 95% of approved funding for projects but that recently that participation has been reduced to 90%. The remainder of any future project costs would need to be locally funded. The Authority was provided a written synopsis of the proposed plan, which included among other things, a summary discussion of each item. Hope then spent several minutes providing an overview of the plan. Hope noted that the list represents a "wish list" and priorities that are foundationally based on FAA safety related priorities as well as airport development and improvement projects. ~ Bill Flynn stated that airport lighting and signage were major issues and he asked if this could be moved up in priority. Bryan responded that because of airport overlay timeline slippage, the management team chose to place it in the 2014 CIP. Bill Flynn continued on to state that although it would be nice to expand the terminal building, he believed that to be discretionary and of lesser priority than some other projects. Bryan noted that the potential need to expand the terminal building came from an overabundance of office space requests from both tenants and other interested parties and was moved up due to demand. Hope mentioned that Easement Acquisitions were important and we need to secure them to protect ourselves from property infringement issues. Hope continued on to give a brief description of the priorities with Hangar Areas B and C, and that the continuation of these projects would be three years out. Bryan reviewed the CIP for 2013-2017 and noted the only new items to the CIP were the additional hangar development and the terminal expansion. He quickly noted however that the most important items on the CIP in the near term are the runway and apron overlay and the runway extension, set for 2014. <~ Bill Rial stated that the lighting system replacement in 2014 is extremely important and asked if it would be a remove and replace. Bryan noted that this would be a complete overhaul of the system and agreed with its importance. Richard agreed moving the lighting up in the time frame would be a priority. - George asked about the land acquisitions in 2016 and 2017. Bryan responded that these were carry overs from previous endeavors. Bill Rial noted that he was glad the ClP was covered and well worth the time. Bryan noted that the ClP covers a broad range of items and that the details would be worked out later on down the road. Richard thanked Hope and Bryan for the presentation. Bryan finished up by saying that he would come up with a proposal of priority items for the boards review. VII. Executive Session The authority entered into executive session to discuss matters protected by the attorney client privilege and to discuss the future acquisition of real estate. VIII. Adjournment After exiting the executive session, Bill Flynn made a motion to adjourn the meeting which was seconded by George Harrison, Motion Carried 5/0. Time 9:37pm (local) ~. an - 11/8/20128:48 AM ~ sepl1 .....U Qrdinary Incortle/fxpens 'n","", 4000, Commercial User Fees 6.367.00 6.,328.67 4010. Hangar Leases 40U . T-Hangar -leases 9,469.00 8,tu1.oo 4012 .lie-Down Leases 2,276.00 U66.oo 4013, Prhiate Hangars - leases l2.085.00 l2.139.00 4014. F80 Hangar{TBox-leases 7,645.00 10,540.00 Total 4010 . Hangar lea5e5 31,475.00 33.866.00 4015 - late Fees '\016-, Office Rental 1.770.00 2.942.00 4017 'Other 4019. Rf!'ntal Car Commission 1,092.72 76.52 4022 . Fuel Sales Jet 85..461:.89 93,523.30 5022 . Jet Fuel Cost 159.583.31) (66,lJ64.88) Profit -let fuel 25,.878.58 27,458.42 4023, Fuel Silles Avgas 45,815.87 50,322.16 5012 . Avgas Fuel Cost (38.872.42) {42.913.71l profit- Avgas 6,943.45 7.408.45 4025, O\Iemigtrt lie Down Rental 104.00 80.00 4026 . FaD Hangar Overnight Rental 1,590.00 764.00 4027 . Pilot SUpplies Sales 1)167.08 211.04 5002. PlIot SUpplies Cost 13.335.13) 1160.11) Profit - Pilot SUpplies (1,463.05) 56.93 402.8 . Catering 14VI0 84.33 5042 . Catering Cost {59.331 Profit ~ Catering 142.40 25.00 403S . Aircraft 011 Sales 86.70 176.65 S032' Aircraft au COst (70.07) (m.SS) Profit~AlrcraftOil 16.63 40.80 4070. Air Show Rcimbursment 7100, Alrshow Expenses profit. Airshow 4999, Miscellaneous Income 2.340.06 1,422.34 Net Revenue Before Grant Moftey 76,251.19 8OA69.13 4055. Federal AlP Grnnt 78,451.91 4056. Fed ARRA Grant 4060, State AlP Grant 4061. State APO/Other ~ Total Grant Money 73,451.91 Net Revenue SndudCn8: Gtant Money 154,703.70 BO,4QJ.13 Expense 5100. Advertising/Marketing 5101 . Airport 1.S25.00 1,202.38 Total 5100. Advertislng/Marketing 1.525.00 1,202.38 5230. Travel/Entertainment/Tralnlng 5211. Airport 89657 60.... Total 5230 . Travel/Entertainment/Training 896.57 608.48 6100. Auto. & Truck 6101. Airport 1.175..83 881.35 lotaI6100' Auto & Truck 1.175.83 881,85 6120. Bank SeNice Charges 6121. TheMoss 6132. credit Card Processing Fees 4,333.67 4,l3O.22 6170 . Dues & Subscriptions Gill, Airport 41,66 114.59 Total 6170 . Dues & subscriptions 41.66 114.59 6200. Insurance ~ General Uability 6201 . Airport 754.00 603.83 TouI6200. Insurance ~ General Liabillty 754.00 603.83 6205, Insurance-Professional Uab. 361,99 303.25 6210 . Insurance. Property 745.08 476.00 6220 . Insurance. Auto 845.20 429.16 6230 . Insurance - Emp. nurrt 175.00 175.00 6240. InsUfi'lnce - Employee Group 6244 . Employer Paid Medical 1,535.30 1,341.44 Total 6240 . Insurance. Employee Group 1,585.30 1.341.44 6250, lnsuratKe ~ Workers Comp. 6251 . Airport 442.89 846.89 Total 6250. Insurance- Workers Comp. 442.89 846.89 6260, Uniforms 6.261 . Airport 439.51 397.00 101aI6260' Uniforms 43951 397.00 6270. Professional Fees 6271 . legal/Contract/Consulting 1.500.00 1,933.00 6272 . Accounting Fees 1,950.00 2.000.00 Total 6270 ' Professional Fees 3.450.00 3,933.00 6280 . Employee Expenses 6281- Airport 67.68 101a1628O. Employee Expenses 67." ~ 6340 . Postage Expense 6341 . Airport 55.19 68.30 Total 6340 . Postage Expense 55.19 68.30 6352. Fuel Farm Maintenance 6362, Fuel Truck Rent 1,600.00 6380, Repairs! Malntenance/SmaIlEquip 6381 . Airport: 7.023.20 5,114.40 Total 6380. Repairsl Malnterlance/SmallEQuip 7.023.20 5,114.40 6440, OffIce supplies 6441' Airport 292.57 315.95 PEACHTREE em AIRPORT AURHOR!lY PROFIT/lOSS PERFORMANCE SEPTEMBER 2012 sepu ....... $ Oftt Bud8et " ........ 1,637.88 8.123.00 (485.121 -6.0% 8,46LOO 9,458.00 (997.00) ~10.~ 3,070.00 2,02.4.00 1.046.00 51.1% 12.139.00 12.085.00 54.00 0.4'" 10,355JJO 8,108.00 2,247.00 27.7% ~,Q2s.oo 3l..675.00 2.35Il00 7.4% 112.00 (112.00) ~1OO.0% 2,942.00 1,770.00 1,172.00 "'2% 0.0% 1.410.24 281,00 1.129.24 401.9% 90,619.95 79,,200.00 l1..419.95 14.4% (64,041.02) 156,945.00) 17.W2-021 12.5% 26,512.93 22.255.00 4.317.93 19.4% 51.345.83 45,183.00 6,162.83 13.6'Jfi (40.350.931 (38,784.00) (1.566.93) 4.0% 10,994.90 6,399.00 4,595.90 71.8% 96.00 134.00 138.00) -28.4'lb 1,228.00 850.00 378.00 44.5% SSl.S4 403.00 148.S4 36.9% _.38) (2n.OO) (718.381 2593% I......) 126.00 (569.") -452.3% 93.87 132.00 (3B.13) -28,9% (68.871 1106.(0) 3-1.13 -35.m4 2.5.00 26.00 11.<'0) .3.8% 299.25 152.00 147.25- 96.9% (168.95) 1121.00) (47.95) 39.6% 13Il3O 31.00 99.30 320.'" 0.0% (454.321 0.0% (454,32) 0.0% 8,.202.04 528.00 7,.674.Q4. 1453.4% 92,36ti.13 12.310.00 ZO,51OAS 28.4% (1,2S7.(lO) 0.0% 0.,", 0.0" (23.883.00) 0.0% 125.140.00) 0.0% &Y.m-13 72.3lAOO 20,51Q.45 ...... 364.00 1,000.00 (636.00) -63.... 364.00 1,.000.00 (636.00) -63."" 175.2<) 429.00 {253..80) -59.2% 115.20 429.00 (253.80) .$9.2% :1104.38 99S.oo (190.62) -19.2% 304.38 99S.oo (190.62) -19.2'J(i 107.00 1107.(10) -100.0% ~5.08 3,D70.00 525.08 17.1% 11459 114.59 0.0% 114.59 114.59 0.0% 603.83 867.00 (263.17) ~30.4% '603.83 861.00 t263.17) -30.4% 303.35 416.00 (112.65) .27.1% 1,069.35 491.00 578.35 117..8% 429.16 486.00 (SG.84) .11."'" 0.0% 943.71 2,215.00 (1,271.29) .57.4% 943.71 2,215.00 (1,271.29) .$7.4% 1452..44) 778.00 (l,23O.441 .l58.2% (452.44) ns.oo fl,230.441 .158.2% 0."" 0.0% (5,321.33) 1,,933.00 (7,2S4.33) -375.3% 1a918.7S1 2.000.00 (10,918.75) -545,9$ (14;.24(108) 3,933.00 (18.173.oa) -462.1% 46.22 33.00 13.22 40.1% 46.22 33.00 13.22 40.'" 12.75 42.00 129.25) -69.6% 12.75 42.00 (29.25) -69.6% 0.'"' 1,.600.00 (l,600.oo) .100.0% 1.873.72 3,184.00 11.310.281 41,2% 1.873.72 3,184.00 (l.3lO.28) -41.2% 108.92 300.00 (191.08) .S3.7% Ocl:'U~SepU vm....... S.,.......... "."""'" 82.297.88 97,476,{)O (15,178,UI .15.6% lOS.ooa77 113,496.00 f8,.489.23) .7.5% 29,91U1O 24,288.00 5,623.00 23.2% 145,452.00 145.020.00 432.00 03% UO,4S3.06 91.296.00 13~IS7.06 13.5% 390.822.83 380,100.00 10.722.83 2.8% ,....,.00 (1.344.(0) -100.0% 29,144.00 21,240.00 7,904.00 31.2% 0."" 2,966.02 3,372.00 (405.98) -12.0% 926,137.74 831,412.00 94,725.74 11.4% (673,057.90) (597,785.00) (75,272.90) 12."" 253,079.84 233,627.00 19,452.84 8.'" 6Il8.576.52 574,377.00 34,199.52 6.0% IS17,3S6.87} (493.027.00) (24,329.871 ..... 91,219.6S 81.350.00 9,869.65 12.1% 1,101.00 1,6Il8.<Kl (506.00) -31.5% 3,437.21 10.200.00 (1,.762.79) -17.3% 4.023.63 4,836.00 (812.37) ~16.8% (3,696.90) (3,3l8..001 (378..90) 11.4% 326.73 1,518.00 11,191.27) ~ 78.5% 1,499.02 1,584.00 (84.98) .5.... (1;.107.63) (1,267.00) 159.37 .12."" 391.39 317.00 74.39 23.5% 2))26,27 1,819.00 207.27 11.4% (1.463.471 {lASS.rot (8.471 0.6% 562,80 364.00 198.80 54.6% 6,803.70 6,556.00 247.70 3.8% (7,2SS.o2) (6,556,00) (702.02) 10.7% (454.32) 1454.32) 0.,", 21.9D6.2S 6,336.00 15,570.25 245.7% 881,l102.28 838.B52.<Kl 42.950.28 5.1% 183,875.74 0.0% 0.0% 0.0% 0.0% 133,875.74 0.0% 1,lJ6S.678.02 838,852.00 ....50.28 5.1" 4,24554 U.OOO.OO (7,754.46) ...."" 4,.245.54 U.OOO.OO 0,754.46) .64.6% 4,997.51 5,148.00 1150.49) ~2.9% 4,997.51 5,148.00 (150.491 .2.9% 10,460.43 11.940.00 (1.479571 ~12.4% 10,460.43 11,940.00 (1A-79.57) ~ 12.4% 92.23 1,284.00 (1.191.77) ~92.8% 40,705.62 36.840.00 3.,865.62 10.5% 1.n5.66 682.00 1))93.66 160.4% 1,175.66 682.00 1,(193.66 160.4% 9,746.00 10.405.00 (659.00) ~6.3% 9,746.00 10,405.00 1659.00) ~6.3% 3,639.00 4,994.00 (l.355.oo) -27.1% 6.305.35- 5.529.00 n6.35 14.0% 5,150.00 5,832.00 (682.001 ~11.7')G 115.00 175.00 0.0% 17,54750 26,580.00 (9,032.SO) -34.0% 17,547.50 26,580.00 (9.ll32.5O) .34.0% 4,i07.00 9,336.00 14.629.(0) -49.6% 4,707.00 9,336.00 (4,629.00) 4""" 2,983.35 3,596.00 (612.651 ~17.0% 2,983.35 3,596.00 (612.6S) -17 J)% 15,941.61 23,196.00 (7.254.33) -31.3% 13,081.25 24.000.00 (10..918.75) -45.5% 29,022.92 47,196.00 (llU73.08) -38.5% 269.56 396.00 (126.441 ~31.9% 269.56 396.00 (126-441 .31.9% 544.40 504.00 40.40 "0% 544AO 504.00 40.40 8.0% 0.0% ..000.00 19,.200.00 (11.200.00) .58.3% 60,199.79 38,205.00 22.094.79 57.8% 60,299.79 38;205.00 22,1l94.79 57 Jl% 4,100.17 3,600.00 SCO.17 13.9% --' "....... 97.476.00 84.4% 113,496.00 92.5% 24,288.00 123.2% 145,OlO.OO 100.3% 97,296.00 113.5% 380.100.00 102.8% ,....,.00 0.0% 21,240.00 131.2% 0.0% 3,372.00 "'0% 831.4U.OO 111.4% (597.78S.00) lU.6% 233,627.00 108.3% 574.377.00 106.O"Ai (493,Q27.00) 104.996 81,350.00 112.1% 1.608.00 68.5% 1O,lOO.00 82.7% 4,836.00 83.2% (3.318.001 111.4% 1,518.00 21.5% 1.584.00 94.6% (1.267.00) 87.4% 317.00 123.5% 1,819.00 111.4% 11,455,00) 100.6% 364.00 154."" 6,556.00 103.8% 16.556.00) 110.7% 0.0% 6.336.00 345.7% 838,852.00 105.1% 0."" 0.0% 0."" 0.0% 0.0% 838.B52.<Kl 127.fJ% U,OOO.OO 35.4% 12.000.00 35.4% 5,148.00 97.1% 5.148.00 97.1% 11,940.00 87.6% It,940.oo 87.6% 1,284.00 7.2% 36,840.00 110.5% 682.00 260.4% 682.00 260.... 10,405.00 93.7% 10,405.00 93.7% .'-00 72.... 5..529.00 114.0% 5,832.00 88.3% 0.0% 26.580.00 66."" 26,580.00 66.0% 9,336.00 50.'" 9,336.00 50.4% 3,596.00 83."" 3.596.00 83.0% 23,196.00 68.7% 24.000.00 54.5% 47,196.00 61.5% 396.00 68.1% 396.00 68.1% 504.00 108.(}'>.{. 504.00 108.0% 0.0% 19.200.00 41.7% 38.20S.00 151.8% 38,205.00 157.8% 3,600.00 1H.9% 11/8/20128:48 AM ~ 5ep11 .....U Total 6440 . Office SUpplies 292.S7 315.95 6450 . Office E>:pense 64S1.Airport: 2,273.42 1.086.413 Total 6450 . Office Expense 2.113.42 1.086.43 6460' Shop SUpplies 6461, Airport 10tal6460' Shop SUpplies 6520' Telephone 6521.Airport 691.04 809.82 Total 6520 'Telephone 691.04 809.82 6530, Utilities 6531 . A1rport 7,,988..73 6.133.23 1.956.15 Total6S3Q . Utilities 7.988-73 8.089.38 6550, Payroll Expense 6480, TaxES. Payrotl 1.695.95 2..511.08 6560 . Salaries & Wages 6561, Airport 30,996.17 30,455.83 6562 . F60 6565 . IRA 171.34 399_74 6S6O' OTHER 23.20 Total6S60' Salaries & Wages 3U67.51 30,879.77 6569 . Accrued Payroll Expense 2,79355 8,223.00 Tota16SSO' Payroll E>lpense 35,651.01 41.6U.85 total Expense n,3S2.86 72.6Oll90 Net Ordlnaty inc:ome including GIants lI2.3so.84 7........ Other Income/Expense Other Income 4050, HoteVMoteJ Tax 4051. Hotel/Motel Tax - Ops 9,915.00 10,530.00 Total 4050 . Hotel}Motel Tilx 9,915.00 10.530.00 7030, Interest Earned 7031. General Acct..lnterest 1.79 7030 . Interest eamed. OthN :L82 Tota17030' Interest Earned 1.79 1.82 Total Other Income 9.916.79 10,531.82. Other Expense 6010. Amortization 4:L00 41.00 6020 . Depreciation Expense 73,000.00 62,310.00 7025 . Unbudgeted Expense 7035. Debt Service. Interest 7040 . loan Interest long Term 1.798.96 1,.597.93 7041. loan-Interest Short Term Total 7035 . OebtSefVlce - Interest :L798.96 1.597.93 Total Other Expense 74.839.96 63,948.93 Net Other Ir<<::ome (64,923.17) (53..417.11) Net Income lndudin& Grants and Amort/Depre<;. 17,427.67 I4S,556..88} Less: Grant Money 4OS5. fe.deral AlP Grant 78..,51.91 4056. Fed ARRA. Grant 4060, State AlP Grant 4061 . State APO/Ot:her Total Grant Money 78.451.91 Plus: Amortization & Depreciation 6010. Amortilation 4:L00 41.00 6020, Depredation e<pense 73)0100 62.310.00 Total Amort1zatlon & Depredation 13..(141.00 62.351.00 NET INCOME FROM OPERATIONS 12,016.76 16,794.12 PEACHTREE an' AIRPORT AURHORI1'1' PROfiT/LOSS PERFORMANCE SEPTEMBER 2012 -=12 - $ov..._ "......... 10&92 300.00 (191.08) -6,,"" 855.29 1.038.00 (182.71) -17.6% 85$.29 :L038.oo (132.71) .17.6% 16.00 (15.00) ~100.Q% - 16.00 (16.(0) -100.0% 1.071.02 701.00 376.02 53.6% l.ff17.02 701.00 376.02 53.6% 2,90:1.35 7.164.00 (4.262.6') .59.5% :L9'U' l..956.15 0."" 4,857.50 7,164.00 12.306.50) .32.2% 3,101.67 3,643.00 (541.33) .14.9% 0."" 29,357.89 44,436.00 (15.078.11) -33.9% 0."" _.68 405.00 (0.32) .0.", 23.20 23.20 0."" E,785.n 44.841.00 (15,oss.23) -33.6% 7,312.00 3,174.00 4.198.00 132.3% 40.259.44 S:L6S&00 (11,398.56) -22.1" 42,800.99 80,523..00 (37,722:.011 ........ ........... 18.213JlO) 58,232.46 -709.0% 11.9Z4A2 9,152.00 2,7n.42 30.3" 11.924.42 9,152.00 2,772.42 30.'" 120.0') 72.00 (92.0S) -127,.8% 120.051 72.00 {92.05l -127.8% 11~7 9.224.00 2.680.37 29.1% 49.00 41.00 8.00 19.5% 63,310.27 73,000.00 (9,689.73) .13.391; 724.52 166.00 55852 336.5% 1,.159.16 1..940.00 (480.841 .24.8% 0."" L459.16 1.940.00 1480.841 .24.8% 65,997.27 75,147.00 9,149.73) .12.2% (54;.002.901 (6S,923.00) U.8lO.10 -17.9% 29.213A4\ <74.13tUlO1 ....u.so -<0.6% (1.2'7.00) (1,257.00) 0."" 0.0% 0.0% 123.883.(0) 123.883.00) 0.0% (25.140.00) (25,140.00) 0."" 49.00 41.00 8.00 19.5% 63,310.27 73.000.00 (9,689.73) -13.1% 63.359.27 73,Q41.oo (9..681.13) -13.3% 59,28S.l13 11.095.00} 6O,3lIO.83 -5514.2:% ............. "....... 3.600J)0 113.9% 12,396.00 115.4% U,396.oo 115.4% 192.00 4:L6% 192.00 41.6% 8,412.00 119.7% 8,412.00 119.7% 85.968.00 95.7% 0.0% 85.968.00 102.5% 30,150.00 tU.S% 0.,", 393,926.00 98.9% 0.,", 4.860-00 91.5% 0.0% 398,786.00 98.... 3,614.00 756.5% 432,,550.00 105.3% 782,785.00 100.0% 56..(167.OD 504.5% 109,824.00 107.4% 109,824.00 107.4% 864.00 0.,", 864.00 0."" 110,688.00 106.6% 492.00 101.6')6 876.000.00 85.5% ]..992.00 "'5% 23,280.00 84.7% 0.0% 23.280.00 84.7% 908,320.00 85.6% 1797,632.00} 82.7% 1735,OO!l.OO 50.3% 0.,", 0.0% 0.0% 0.0% 0."" 492.00 101.6% 876.000.00 85.5% 876,492.00 85.5% 141,483.00 138.S% Ott'll- Sep 12 YJD_ Sov... ,,- 4,100.17 3,600.00 500.17 13.9"- 14.301.37 l2.396.oo 1,905.37 15.4% 14.301.37 12.396.00 1,90S.31 15.4% 79.89 192.00 1112.11) -58.... 79.89 19~OO (U2..l1) -58.4" 10,071.36 8,412.00 1,659.36 19.7% 10.071.36 8,412.00 1.659.36 19.7% 82,228.58 85.968.00 (3,739.42) -4.3% 5,868.45 5,868.45 0."" ll8.097JJ3 85,968.00 2,U9.03 2.,% 33,905.09 30.150.00 3,755.09 1~5% 0."" 389,673.99 393.926.00 14,252.01) -1.1% 0."" 4A46..42 4,860.00 (413.58) -8.,% U9.05 129.05 0."" 394,249.46 398,786.00 (4.,536.S4} -1.1% 27.340.28 3,614.00 23,726.28 6$65" 455.494.33 4325S0.oo 22,944.83 '.3% 782.8J.1.51 782,.785.00 26.51 0."" ........., 56.(167.00 42.!/Z3.77 76."" 118,004.42 109,824.00 8,180.42 7.4% 118.D04.42 109,824.00 8,180.42 7.4% 864.00 1864.(0) .100.0% 864,00 (864.00) .100.0% 11.8.004.42 110,688.00 7,316.42 5.6" 500.00 492.00 8.00 1.6% 748.720..27 876,000.00 l127.279.73} -14.5% 1.324.52 :L932.oo (667.48) .33.5% 19,712.60 23.280.00 (3,s67.40) .15.3% 0."" 19,712.60 23,2lllloo (3.567.40) .15.3% n7.515.41 908,320.00 [130.804.59} .14.4% (659,510.99) (~7,.632..oo) 138,121.01 .17.3% 1369,3ll6.4'" 1735.00!l.00 36S,622.S4 -49.7% 18l,875.74 183.875.74 0.0% 0.0% 0.0% 0."" 183.815.74 183,875.74 0."" 500.00 492.00 8.00 :L"" 748.720.27 876))00.00 (127.279.73} -14.5% 149.220.27 876,492.00 (127.211.73l -14.5% 195,958.07 141,483AlO 54,475.07 38.S% ........................................................................................................-.............................................................................................. .................................................."............ MEMO INFORMATION' Total Revenue from Operations 178.112.72 189,803.01 198.451.60 168,543.00 29,908.60 17.7% 2,085,743.07 1,942.260.00 143,483.07 7.4% 1,942,260,00 107.4% Fuel Revenue 131,277.76 143.845.46 141,.965.78 124,383.00 17,582.78 14.1% 1,534,714.26 1A05,789.00 128,925.26 9.2% 1.405.789.00 109.2% Fuel Revenue os 96 clTatal Operating Revenue 73.7% 7'.... 11.5'J' 73.8% 73.6% 72.4% 72.4% % Profit Margin on Jet Fuel 43.4% 41.6% 41.5% 39.1% 37.6% 39.1% % Profit Margin on Av Gas 17.9% 17.3% 27.2% 16.5% 17.6% 16.5% ~i~ 11/06/12 Peachtree City Airport Authority Balance Sheet Prey Year Comparison As of September 30,2012 ~ Sep 30, 12 Aug 31,12 $ Change ASSETS Current Assets Checking/Savings 1000. General Fund Account 156,118.28 125,744.64 30,373.64 1001 . General Fund (892.04) (545.76) (346.28) 1002. Reserve Account 563,168.07 563,168.07 0.00 1005 . Grant Account 294.55 294.55 0.00 1008. Falcon Field Veterans Memorial 47,546.98 47,545.22 1.76 Total Checking/Savings 766,235.84 736,206.72 30,029.12 Accounts Receivable 1100. Accounts Receivable 38,759.70 11,455.99 27,303.71 1104 . Prepaid Accounts Receivable 18,341.22 29,715.59 (11,374.37) 1105' AIR Loans/Other 1,062.50 1,000.00 62.50 Total Accounts Receivable 58,163.42 42,171.58 15,991.84 Other Current Assets 1080 . Petty Cash 500.00 500.00 0.00 1101 . Accrued AIR-Hotel/Motel 21,424.10 20,529.03 895.07 1102 . Receivable 825.00 0.00 825.00 1150 . Grants Receivable 0.00 25,140.00 (25,140.00) 1200 . Inventory 65,157.57 74,187.83 (9,030.26) 1499. Undeposited Funds 2.00 188.00 (186.00) Total Other Current Assets 87,908.67 120,544.86 (32,636.19) Total Current Assets 912,307.93 898,923.16 13,384.77 Fixed Assets 1505' Improvements(Airfield) 19,754,908.79 19,350,261.59 404,647.20 1506 . Land 7,687,974.01 7,687,974.01 0.00 1510. Buildings & Improvement 7,073,107.50 7,073,107.50 0.00 1520 . Machinery & Equipment 316,165.67 384,232.61 (68,066.94) 1530 . Under Construction 87,924.40 428,891.60 (340,967.20) 1681 . Accum depreciation - Other (13,290,719.77) (13,241,061.37) (49,658.40) Total Fixed Assets 21,629,360.60 21,683,405.94 (54,045.34) Other Assets 1301 . Prepaid Sales Tax Liability 0.00 (100.42) 100.42 1320 . Prepaid Workers' Comp 2,336.25 1,883.81 452.44 1321 . Prepaid Ins/General Liabilty 0.00 603.83 (603.83) - 1322. Prepaid Prof.Liab. Ins. 0.00 303.35 (303.35) 1323 . Prepaid Property Ins. 4,162.65 5,232.00 (1,069.35) 1324' Prepaid Auto Ins. 0.00 429.16 (429.16) 1330. Prepaid Other (FAAlASOS) 3,169.94 2,164.45 1,005.49 11/06/12 Peachtree City Airport Authority Balance Sheet Prey Year Comparison As of September 30, 2012 Sep 30, 12 Aug 31. 12 $ Change - 1525 . Loan Costs 5,000.00 5,000.00 0.00 1682. Accumulated Amortization (4,375.00) (4,326.00) (49.00) Total Other Assets 10,293.84 11,190.18 (896.34) TOTAL ASSETS 22,551,962.37 22,593,519.28 (41,556.91) LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2000 . Accounts Payable 37,373.76 32,271.61 5,102.15 Total Accounts Payable 37,373.76 32,271.61 5,102.15 Other Current LiabiUties 2001 . Accts Payable/Accruals 23,282.53 33,104.17 (9,821.64) 2050 . Accrued Wages 34,019.00 26,647.00 7,372.00 2055 . Compensated absences 6,713.52 3,344.80 3,368.72 2100. Employee Health Ins. Payable 0.00 (699.89) 699.89 2101 . Employee Dental Ins. Payable (49.37) (869.34) 819.97 2110' Co. Paid Employee Health (367.32) 1,649.15 (2,016.47) ,~ 2111 . Simple IRA 0.00 (115.38) 115.38 2190. Sales Tax Payable 6,616.04 6,512.01 104.03 2220 . State Withholding Tax Payable 1,160.09 1,162.81 (2.72) 2280 . Accrued FUT A 294.15 (203.59) 497.74 2285 . Accrued SUT A 664.37 428.32 236.05 2510. Long- Term Debt 66,083.15 66,083.15 0.00 2690 . Deposits - Hangars 5,000.00 5,000.00 0.00 2962 . Unearned Prepaid Revenue 18,341.22 29,715.59 (11,374.37) 2963 . Veterans Memorial Donation 40,503.86 42,396.31 (1,892.45) 2964 . J.Cobb-Memorial 4,008.46 4,008.46 0.00 Total Other Current Liabilities 206,269.70 218,163.57 (11,893.87) Total Current Liabilities 243,643.46 250,435.18 (6,791.72) Long Term Liabilities 2811 . Note Payable #20-Bldg Renov 15,736.75 19,145.67 (3,408.92) 2814 . Note Payable #23-CIP 369,746.71 371,889.54 (2,142.83) Total Long Term Liabilities 385,483.46 391,035.21 (5,551.75) Total Liabilities 629,126.92 641,470.39 (12,343.47) - Equity 3030 . Contrib. Capital - Grant 19,933.87 19,933.87 0.00 3035 . Contrib. Capital - Donation 2,125,000.00 2,125,000.00 0.00 ;.4_11' 11/06/12 Peachtree City Airport Authority Balance Sheet Prey Year Comparison As of September 30, 2012 ~ Sep 30,12 9,398,851.92 1,221,311.00 2,126,666.00 2,126,667.00 2,126,667.00 183,844.00 710,537.00 653,506.00 390,320.00 184,408.00 271,956.00 38,857.55 66,500.00 104,000.00 7,425.00 96,640.00 316,950.00 29,519.00 9,180.00 16,707.10 60,566.44 511.13 5,697.90 (369,386.46) 21,922,835.45 - 3040 . Retained Earnings 3051 . Contr. Capital - FAA #02 3052 . Contr. Capital - FAA #03 3053, Contr. Capital- FAA #04 3054 . Contr. Capital - FAA #05 3055 . Contr. Capital - FAA #06 3056 . Contr. Capital - FAA #07 3057 . Contr. Capital - FAA #08 3058 . Contr. Capital - FAA #09 3059' Contr. Capital - FAA #10 3060 . Contr. Captial - FAA #11 3070 . Contr. Capital - State #1-113 3071 . Contr. Capital - State #2-113 3072 . Contr. Capital. State #3-113 3073' Contr. Capital- State #4-113 3074, Contr. Capital- State #5-113 3075 . Contr. Capital. State #6-113 3076 . Contr. Capital - State #7-113 3077 . Contr. Capital - State #8-113 3078 . Contr. Capital - State #9-113 3079, Contr. Capital- State #10-113 3080 . Contr. Capital - State #11-113 3081 . Contr. Capital - State #12-113 Net Income Total Equity TOT AlllABllITIES & EQUITY 22,551,962.37 i~ Aug 31, 12 9,398,851.92 1,221,311.00 2,126,666.00 2,126,667.00 2,126,667.00 183,844.00 710,537.00 653,506.00 390,320.00 184,408.00 271,956.00 38,857.55 66,500.00 104,000.00 7,425.00 96,640.00 316,950.00 29,519.00 9,180.00 16,707.10 60,566.44 511.13 5,697.90 (340,173.02) 21,952,048.89 22,593,519.28 $ Change 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (29,213.44) (29,213.44) (41,556.91)