The Airport made a profit of $168,036.44 with an adjusted net profit (without depreciation and amortization or Grant and PFC revenues) of $40,068.92 in December. Year over year it amounts to an increase in profit of over 1,000% (without depreciation) in comparison to last year (see Summary of Airport Revenues & Expenses).
Propellers Restaurant sales were down approximately $2,500 compared to this month last year; Fuel sales and flowage fees were up approximately $50K, rental fees were up around $12K. Actuals were used for the car rental revenues for December except Hertz which were not available at the time of closing.
Compared to this month last year, labor expense was down approximately $8K; employee benefits expenses were down $2K; repairs and maintenance expense was down approximately $1K and utilities and other services expenses were down approximately $7K; and administrative expenses were down approximately $6K over last year.
Update on Airport Improvement Projects 37 & 38:
AIP 37 – Taxiway C Relocation & Airfield Electrical Improvement Project $3,923,867; Balance: $91,811. Project closed out in December 2014.
AIP 38 – Airport Perimeter Fencing & Crack Seal, Seal Coat & Mark GA Apron Project $384,678; Balance: $126,881.
Cash flow was positive for the month (see the Cash Flow Summary.
Mr. Howell thanked Ms. Brewer for a good report. He reported in December 2013, there was no ILS therefore, in reviewing the numbers, Justice Flights were back and congratulated the staff in keeping expenses down.
· Jennifer Wright cut total expenses from prior fiscal year by $3100 and decreased net loss by $3800.
· In November, Propeller’s cut total expenses around $4500 based on current budget, and incurred a net loss of $2400.
· Jennifer Wright cut total expenses from prior fiscal year by $2400 and decreased net loss by $2800.
· In December, Propeller’s cut total expenses around $3800, and incurred a net loss of $4700.
· Jennifer Wright cut total expenses from prior fiscal year by $1700 and decreased net losses by $900.
· Sales have decreased in comparison for the months of October to December 2013 due to lack of travelers in/out bound, cancellation of flights, and Delta shuttling passengers via bus.
· Delta shuttled passengers on many occasions due to passengers exceeding weight limit with luggage, flights delayed due to maintenance/ weather issues, and aiding the patrons to make their connecting flights out of Atlanta.
· Jennifer Wright has been able to maintain the strategic goals of cutting total expenses based on budget by $15,600 from July to December 2014.
· Propeller’s goal for fiscal year 2015 is to cut total expenses by $24,000.