RECOMMENDATION(S):
APPROVE Appropriation and Revenue Adjustment No.5069 to increase revenue from license fees and concession revenues in the amount of $48,000 for fiscal year 2016/17 and appropriate for Airport operating expenditures.
FISCAL IMPACT:
Funded 100% by the Airport Enterprise Fund.
BACKGROUND:
In April 2016, JetsuiteX started operating out of Buchanan Field Airport. When the fiscal year 2016/17 budget was established in February, revenue from this new business venture was unanticipated. The appropriation adjustment adds this unanticipated revenue from the license fees and subsequent fuel flowage fees to the Airports’ budget. As a result of this increase in revenue, expenditures will also be increased
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