READ ALONGSIDE THE SOURCE
Okaloosa County BOCC — August 11, 2015 — Dept. of Airports FY16 Proposed Budget Presentation Final — reading text
Part 1 of 1. These parts divide the reading text for browsing; they are not the source document's page numbers.
Dept. of Airports FY16 Proposed Budget Presentation Final — extracted reading text
Machine-extracted OCR text · Review label: Known limitations
Compare this copy with the preserved source. Review labels describe the recorded status of this file; they do not guarantee that the text is error-free. Spacing and line breaks are retained, with long lines wrapped to fit the screen.
Presentation to: Okaloosa County Board of County Commissioners
Budget Review (W&S)
August 11, 2015
Department of Airports
Fiscal Year 2016 - Proposed Budget
500,000
450,000
391,263
1.96%
383,591
400,000 2.72%
350,000
300,000
250,000
200,000
150,000
100,000
50,000
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Through July, FY 2015 enplanements are 2.4% over FY 2014
FY 2015 enplanements are expected to exceed FY 2014 by 3.2% 2
$10.0
$9.0
$8.0
$7.0
$6.0
$5.0
$4.0
$3.0
$2.0
$1.0
$0.0
2008 2009 2010 2011 2012 2013 2014 2015 2016
Operating Revenues Operating Expenses (before depreciation and amortization) *
2015 2016
2008 2009 2010 2011 2012 2013 2014 Unaudited Budget
Operating Revenues
$7.6 $8.2 $8.8 $9.5 $9.2 $9.4 $8.9 $8.4 $8.9
Operating Expenses
$6.2 $6.7 $7.2 $8.9 $8.4 $7.1 $7.9 $8.3 $8.4
Net Operating $1.4 $1.5 $1.6 $0.6 $0.8 $2.3 $1.0 $0.1 $0.5
Revenue
Source: Okaloosa County Comprehensive Annual Financial Reports 2008 – 2014 and 2015 Unaudited w/ 2016 Budget 3
100%
90%
80% 78% 78% 78%
76% 75% 75% 76% 75%
74%
70%
60%
50%
40%
30% 26% 25% 25% 25%
24% 24%
22% 22% 22%
20%
10%
0%
2008 2009 2010 2011 2012 2013 2014 2015 Est. 2016 Est.
Airline Revenues Non-Airline Revenues
4
$7.00
$6.06
$6.00 $5.59
$5.33 $5.42
$5.22 $5.27
$5.10
$5.00 $4.68 $4.63
$4.00
$3.00
$2.00
$1.00
$0.00
2008 2009 2010 2011 2012 2013 2014 2015 2016
Est.
Fiscal Year Ended September 30th
5
AIRPORTS DEPARTMENT
FY 2015 Budget Summary
AIRPORT OPERATING EXPENSE
2015 2016 % +/-
VPS $7,974,478 $7,828,785(2) -1.8%
CEW $213,093 $257,429(1) 20.8%
DTS $182,812 $247,205(1) 35.2%
TOTAL O&M $8,370,381 $8,333,419 -0.4%
(1) Includes $45,000 for Engineering & Consulting Services for each airport CEW & DTS
(2) Does not include the 1% recommended increase in salaries 6
AIRPORTS OPERATING REVENUE
AIRPORT 2015 2016 %+/-
VPS $7,449,039 $7,915,469 6.3%
CEW $372,352 $367,952 (2) -1.2%
(1)
DTS $604,100 $525,051 -13.1%
OPERATING REVENUE $8,425,491 $8,808,471 4.5%
PFC Rev $1,454,236 $1,442,000 -0.8%
CFC Rev $1,526,603 $1,500,000 -1.7%
Misc Rev (Interest) $110,000 $100,000 -9.1%
TOTAL REVENUE $11,516,330 $11,850,471 2.9%
(1) Includes $53,683, 1st installment in accelerated Destin Regal FBO debt settlement
(2) Reduced fuel flowage/rent (L3 & BAE downturn)
7
Financial Bottom Line
FY16 Op Revenue $7,915,469 $367,952 $ 525,050
FY16 Op Expense $(7,828,785) $253,063 $(243,699)
Operating Earnings $ 86,684 $ 110,523 $ 277,845
Net Operating Surplus $475,052
Other non- op Revenue $3,042,000
(PFC, CFC, OTA) $3,517,052 $460,430 Capital Outlay
$2,189,467 Debt Service
$867,155 Inc. to Reserves
8