I. Glynn County Airport Commission Call to Order II. - - PowerPoint PPT Presentation

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I. Glynn County Airport Commission Call to Order II. - - PowerPoint PPT Presentation

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I. Glynn County Airport Commission Call to Order II. Invocation/Pledge III. Accept Agenda IV. Public Comment A. General Comments B. Request to speak forms available for discussion of specific agenda items V. Regular Agenda Item Approval of

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  • I. Glynn County Airport Commission

Call to Order

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  • II. Invocation/Pledge
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  • III. Accept Agenda
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IV.Public Comment

A. General Comments B. Request to speak forms available for discussion

  • f specific agenda items
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  • V. Regular Agenda Item

Approval of Minutes

October 20, 2015

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  • VI. Audit Committee
  • A. Audit Requirements – Ben Lee, CPA
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  • VI. Financial Items
  • B. Year-End Summary

Shawna Williams, Airport Finance & Administration Manager

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  • VI. Financial Items
  • C. FY 14/15 Audit Review
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Glynn County Airport Commission Year in Review June 30, 2015

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Revenue Revenue Budget % Collected 2,625,938 2,486,246 105.62% Expense Expense Budget % Spent ** 2,367,714 2,382,536 99.38% NET 258,224 103,710 154,514

*

**9999 Contribution Expense Account (EDA loan credit) not included in total

FY 2015 GCAC NET INCOME SUMMARY

* Contributed to Capital/Reserves

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2015 Income Summary Comparison

LEO Reimbursment… Landing Fees 3% Land Rental 28% Building Rental 28% Terminal Space Rental 12% Fuel Flow Fees 4% Advertising 2% PFC Fees 5% FBO Concessions 9%

Operating Income Summary 2015

LEO Reimbursment 2% Landing Fees 2% Land Rental 18% Building Rental 18% Terminal Space Rental 8% Fuel Flow Fees 2% Advertising 1% PFC Fees 3% Parking Space Rental 1% FBO Concessions 6% Stipends and Grants 35%

Income Summary 2015

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2015 Expense Summary Comparison

Salaries and Wages 29% Benefits, Taxes, Pension 11% Security Payroll 4% Marketing 4% Legal Fees 4% Insurance 5% Professional Fees 4% Buildings 5% Janitorial 3% Fuel and Lubricants 2% Safety/Ops 3% Utilities Electric 12%

Operating Expense Summary 2015

Salaries and Wages 25% Benefits, Taxes, Pension 9% Security Payrol 3% Marketing and Promotion 3% Legal Fees 2% Insurance 4% Professional Buildings 3% Utilities Electric 9% Project Expenses 87%

Expense Summary 2015

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MANANGEMENT DISCUSSION & ANALYSIS

Passenger Trends FY 2015

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Events

New Leases or Amendments:

  • Golden Isles Aviation FBO- Hotel Terminal
  • Island Automotive Extension 2040
  • JD Moore Extension 2030
  • FAA Offices at BQK
  • Golden Isles Bridge Club Extension with Capital Investments

Gulfstream Expansion- Hangar K Brunswick Airport

Emergency Exercise Brunswick Airport

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Night Flight Run Brunswick Airport Coastal Georgia Honor Flight Brunswick Airport AOPA McKinnon Airport

Events

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Statement of Net Position

Snapshot of the Commission’s financial position at June 30, 2015. (Similar to a Balance Sheet)

2015 2014 Amount Change Total Assets 54,145,599 $ 56,614,845 $ (2,469,246) $

*

Total Liabilities 950,118 $ 1,870,064 $ (919,946) $

**

Total Net Position 53,195,481 $ 54,744,781 $ (1,549,300) $

* Reduction in capital spending and non-completion of projects **Reduction Liablities closure of Runway 7/25 Project Retainage amounts closed $763,972, Unearned Income (Rental Credits, Escrow) and Accrued Personnel costs

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Significant Items Affecting the Change in Net Assets for 2015

  • Rental revenues decreased by a net -3.51%, or $67,066 due to a partial reporting

reclassification to FBO Concessions account for revenues received from the FBO at McKinnon Airport.

  • Other Fees increased by 38.23%, or $157,656, from $412,387 to $570,042, due to

increased revenues for fuel flow fees and rebilled expenses.

  • Stipends for Security increased by 154.36%, or $49,096, due to a formulary change in

grant funding by TSA.

  • Cost of Services decreased by -0.72%, or $6,267 due to decreases in expenses for facility

maintenance.

  • Total costs for General Administrative accounts show an increase of 11.03%, or $149,464,

associated with salaries, benefits, taxes, and pension which occurred from position reclassifications through the County rating system.

  • Passenger Facility Charges (PFCs) increased 0.95% or $1,207. The Commission is in its

twelfth year of collection of PFC revenues. This year’s increase is attributed to a slight increase in ridership.

  • With the completion of the Runway 7/25 Pavement Rehabilitation project, capital

contributions decreased from $14,676,678 in 2014 to $1,409,838 in 2015.

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Summary Change in Net Position for 2015

2015 2014 Amount Change % Change Rental Revenue $1,844,795 $1,911,861 ($67,066)

  • 3.51%

Stipends for Security 80,902 31,806 49,096 154.36% Other Fees 570,042 412,387 157,655 38.23% SMACG 0.00% 2,495,739 2,356,054 139,685 5.93% Cost of Services 860,193 866,460 (6,267)

  • 0.72%

General and Administrative 1,504,867 1,355,403 149,464 11.03% Depreciation and Amortization 3,217,364 2,816,672 400,692 14.23% 5,582,424 5,038,535 543,889 10.79% (3,086,685) (2,682,481) (404,204) 15.07% Passenger Facility Charge 128,305 127,098 1,207 0.95% Interest Income 1,816 1,967 (151)

  • 7.68%

Interest Expense (2,574) (3,860) 1,286

  • 33.32%

Gain/Loss on Disposition of Assets 0.00% 127,547 125,205 2,342 1.87% 1,409,839 14,676,678 (13,266,839)

  • 90.39%

(1,549,300) 12,119,401 (13,668,701)

  • 112.78%

54,744,781 42,625,379 12,119,402 28.43% 53,195,481 54,744,781 (1,549,300)

  • 2.83%

Net Position at Year End Total Non-Operating Revenues (Expenses) Capital Contributions and Grants Change in Net Position Total Operating Revenue Operating Revenues Operating Expenses Total Operating Expenses Operating Income (Loss) Non-Operating Revenues (Expenses) Net Position at Beginning of Year

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  • VII. Capital Development Update

Capital Improvement Plan Update

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Jeff Culwell – 4 year term starting January 2016 Frank DeLoach – 4 year term starting January 2016

  • VIII. GCAC Commissioner Appointments & Schedule
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Glynn County Airport Commission Officer Nominations 2016

Vote to take place in January

  • VIII. GCAC Commissioner Appointments & Schedule
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Schedule Change

December Meeting

  • VIII. GCAC Commissioner Appointments & Schedule
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  • VIII. GCAC Commissioner Appointments & Schedule
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  • IX. Executive Director’s Items
  • A. Brunswick Golden Isles Airport Enplanement Report

Month-to-Month Comparison Month # Flights Load Factor Enplaned Passengers % Change October 2014 83 74.30% 3,009 7.1 % October 2015 87 74.07% 3,222 7.1%

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Happy Holidays

Glynn n County Airpo port t Commissi sion Staff Invite te You to Join Us for Our Annual al Christma stmas s Luncheo eon Tuesday, December 15, 2015

12:00 noon

  • IX. Executive Director’s Item
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  • X. Chairman’s Items
  • A. Pilot Recognition

Tyler John Mosely Flight Instructor Airplane Multiengine Charles Justin Surginer Private Pilot Single Engine Land “Freddie” Han Chiang Lim-NG Airline Transport Pilot, Airplane Multiengine Land

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  • X. Chairman’s Items
  • A. Pilot Recognition

William Winthrop Blodgett, IV Private Pilot Instrument Airplane David Allen Vickers Private Pilot Instrument Airplane

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  • X. Chairman’s Items
  • B. Wilco Aviation Services, Inc. Grand Opening- St. Simons Island Airport
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  • X. Chairman’s Items

Angel Flight

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  • X. Chairman’s Items
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