2022 Budget Presentation — original pdf

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AUS AAC - 2022 Budget FY22 Aviation – Budget Highlights Revenues  Revenues going up $35.6M from FY21 Budget to FY22 Proposed, driven by higher enplanements and higher aircraft operations. Enplanements projected to be at 6.8M versus FY21 estimate of 3.7M.  Revenue per enplanement: $21.77 in FY21 Budget to $23.53 in FY22 Budget. Operating Requirements  No increase to budgeted FTE’s. Instead, reducing vacancies from 99 to 40 in FY22 to maintain service levels.  Airport operating expenses going up $1.2M from FY21 to FY22 Proposed. City allocations down ($1.9M).  Debt (net of PFC) is going up $6.7M year over year.  Cares Act and CRRSA federal funds application to debt estimated to go down from $30.1M in FY21 Budget to $14.6M in FY22 Budget. No ARPA funds budgeted in FY22 due to FAA guidance delay and final figures allocation to airports. 1 Enplanement Forecast FY21-25 FY22 Mid case enplanements forecasted to be 81% of 2019; 6.8M enplanements Projections based on A4A and rating agency reports FY22 Budget based on Mid case enplanements High trajectory scenario will put us at 7.4M passengers in FY22 versus 8.5M in 2019 2 Operating Revenues 2019 - 2022 FY22 revenues are significant improvement over FY21 3 Actual 2018-2019 Actual - P13 2019-2020 Approved Budget 2020-2021 Current Estimate 2020-2021 Proposed 2021-2022 30,827,114 46,398,412 77,225,525 41,278,183 6,369,975 14,784,393 16,303,523 2,648,154 16,363,787 97,748,014 1,758,413 1,758,413 24,318,648 49,381,268 73,699,917 -4.57% 23,409,088 3,912,754 10,259,195 10,286,314 2,108,648 15,677,727 65,653,725 -32.83% 812,924 812,924 16,720,000 37,697,000 54,417,000 21,107,271 4,487,041 11,069,553 16,683,098 1,750,000 14,598,015 69,694,978 6.16% 1,208,114 1,208,114 17,426,753 43,679,223 61,105,976 -17.09% 18,337,134 2,019,053 11,026,850 16,768,861 1,897,783 14,812,320 64,862,001 -1.21% 318,429 318,429 26,030,400 48,629,417 74,659,817 22.18% 36,056,647 4,983,334 11,586,297 15,711,619 2,059,095 15,532,040 85,929,032 32.48% 353,379 353,379 • Landed Weights – 75% of 2019 • Rental car and Food, Bev and Retail revenue at MAG for FY21 CYE and Fy22 proposed • Parking and GT revenue based on enplanements Airport Revenues FY22 REVENUE AIRLINE REVENUE Landing Fees Terminal Rental & Other Fees TOTAL AIRLINE REVENUE yoy growth % NON-AIRLINE REVENUE Parking Ground Transportation Rental Cars Food, Bev & Retail Advertising Other Rentals and Fees TOTAL NON-AIRLINE REVENUE yoy growth % Interest Income TOTAL INTEREST INCOME & BOND PROCEEDS 4 TOTAL REVENUE yoy growth % 176,731,952 140,166,565 -20.69% 125,320,092 -10.59% 126,286,406 -9.90% 160,942,228 27.44% Revenue per enplanements $20.88 $29.67 $21.77 $34.43 $23.34 AUS Budget – Operating Fund Actual 2019 Actual 2020 Budget 2021 Estimate 2021 Proposed 2022 $103,208,942 $100,115,518 -3.00% $98,823,377 -1.29% $93,356,309 -6.75% $100,045,492 7.17% Opex (Airport related) yoy growth Significant Items:  Adding $1M – Airport Development Plans  2% wage increase - $770k personnel earning less than $90k. 5  Budgeted FTE for FY22 = 549 (same as FY21), but reducing to 40 vacancies versus 99 in FY21  Salary enhancement by City Council - $500 one time payment paid out in December 2021; Additional $500 for  Increase in Temporary workers – CYE has $1.6M, Proposed $2.4M comparable to FY21 Budget  Gainsharing, Travel/Training and Awards & Recognition has some funds in it. AUS – Debt Service (in Millions) • Debt Service (net of PFC) going up $6.7M from FY21 to FY22 6 AUS – FY22 Budget Revenue FY21 BUD FY22 BUD FY22 BUD v FY21 BUD Var B/(W) $20.2 $16.2 ($0.9) $35.6 ($1.3) $1.3 ($16.3) ($6.7) ($23.1) $54.4 $69.7 $1.2 $125.3 $74.7 $85.9 $0.4 $160.9 $99.2 $13.2 ($31.0) $46.5 $127.9 $100.5 $12.0 ($14.6) $53.2 $151.0 ($2.6) $9.9 $12.5 Airline Revenue Non Airline Revenue Interest Total Revenue Operating Expenses Operating Expenses - Aviation Operating Expenses - City Cares Act Debt Service (Net of PFC) Total Requirements Net Income 7 • Revenues higher by $35.6M. • Opex increase in aviation offset by decrease at the City allocation level. • Debt service going up $6.7M. • Cares/CRRSA Act application budgeted for $14.6M but could be higher depending on balances left in Cares Act grant.