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HomeMy WebLinkAbout2008-06-09 08-215 RESOLVE_COUNCIL ACTION Item No. IlA 9iK Date: lune 4, 2008 Item/Subject: Resolve, Appropriating $1,100,00 from Unanticipated Airport Revenues from Fiscal Year 2098 to Cover Additional Operating Expenses and Reinvest in the Inhastructure of Bangor International Airport. Responsible Deparb n1b Airport Commentary: The budget for fiscal 2008 anticipated handling 1,300 international transit Flights. Current projections indicate that the Airport will handle 1,750 flights this fiscal year resulting in unanticipated revenues of $1,800,000. The Airport incurred an additional $200,000 in expenses for handling the additional Flights. This appropriation would cover these additional costs. It is also prudent to iwest some of this revenue in Airport Infrastructure. Improvements would Include replacing a 1980s aircraft push back tug for $700,000 and replacing a hangar roof, as recommended in the energy audit for $200,000. Rebecea Hupp Department Head Manager's Comments: This has been reviewed and is recommended by the Finance Committee. AldG. City Manager Associated Information: Financ ctor Legal Approval: lel" `-- City Soli©tor Introduced for _ Passage First Reading _ Referral Page I of Iv_ JUN 0 9 2008 "Signed to Coonoia� o'Errico 08 .215 CITY OF BANGOR (TITLE.) Resolve, Appropriating $1,100,000 from Unanticipated AirportRevenues from Fiscal Year 2008 to Cover Additional Operating Expenses and Reinvesting in the Infrastructure of Bangor International Airport. WHEREAS, Bangor International Airport's net revenues have far exceeded the budgeted amounts for fiscal year 2008; and WHEREAS, Additional operating expenses were incurred in earning the additional revenue; and WHEREAS, It is prudent to reinvest some of these earnings into the infrastructure of the Airport; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT There is hereby appropriated $1,100,000 from unanticipated Airport revenues from Fiscal Year 2008 in the following amounts and for the following purposes: Amount Purpose $200,000 Additional Operating Expenses $700,000 Large Aircraft Push Back Tug $200,000 Replace Hangar Roof The City Finance Director Is hereby authorized to place these amounts within the appropriate accounts. m CPRE (DY6 Jane 23. 2 8 Modw Xede and Secwtletl fox Pgesage Peeea `PS1Y ML - # OgM es S 0 VE fE ntici • •� ra r rl ve ueee r w Osenxicipstetl Aixpa[E geveuaes Expn V�Vll Add Operating BBPeeses^e Helweatf RL MOSeea �s Couseilsr� 1i�-0 VI'