|
INVENTORY OF EXISTING CONDITIONS
<br />FINANCIAL OVERVIEW
<br />This section provides a high level overview of the Airport’s revenue, expenses, capital expenditures, and
<br />FAA grants received to date. The Financial Feasibility chapter of this master plan provides a deeper
<br />analysis of the Airport’s financial standing and its capacity to undertake future capital projects.
<br />Revenue, Expenses, and Capital Expenditures
<br />Every year the Airport submits a financial reporting form (FAA Form 127) as part of FAA’s Airport Financial
<br />Reporting Program. All airports that are obligated by grant assurances must submit these forms on an
<br />annual basis. Table 1-19 summarizes EUG’s overall revenue, expenses, and capital expenditures from 2009
<br />to 2015 as listed in Form 127. Capital expenditures and construction account for all expenditures spent on
<br />capital projects. Many capital projects are eligible for reimbursement under the FAA Airport Improvement
<br />54
<br />Program (AIP). In Oregon, those projects deemed eligible are 93.75 percent funded through FAA grants,
<br />with the remaining 6.25 percent funded by the Airport.
<br />
<br />Passenger Facility Charges (PFC) is typically the second largest portion of non-operating revenue that the
<br />Airport receives, grant receipts being the largest. This money is primarily used to pay for capital projects.
<br />The median annual amount of capital expenditures between 2009 and 2015 was approximately $5M.
<br />Typically at EUG, capital expenditures range between $3M to $5M per year. Over the last seven years, two
<br />years in particular saw a larger expenditure: a 2010 capital expenditure of $12.5M associated with an
<br />airfield project; and a 2015 expenditure of $9.2M, associated with a terminal expansion and improvement
<br />project. Since 2009, the Airport has seen steady increases in both revenues and expenses. Between 2009
<br />and 2015, both have tracked upward nearly identically with total operating revenues increasing 4.9
<br />percent and operating expenses increasing 4.3 percent. It should be noted that between 2009 and 2015,
<br />operating expenses have never exceeded operating revenues.
<br />
<br />TABLE 1-19
<br />AIRPORT FINANCIAL OVERVIEW
<br />Total Total Non-Non-Operating Capital
<br />Operating
<br />Fiscal Total Operating
<br />Aeronautical Aeronautical Revenue and Expenditures/
<br />1
<br />YearRevenues
<br />Expenses
<br />RevenueRevenueCapital Construction
<br />2009$2,833,681$3,882,287$6,715,968$6,342,030$3,223,614$5,087,806
<br />2010$3,108,903$4,091,443$7,200,346$6,441,609$13,660,140$12,465,508
<br />2011$3,007,086$4,529,757$7,536,843$6,691,594$4,795,365$333,676
<br />2012$3,156,773$4,523,198$7,679,971$7,222,889$3,855,866$3,008,433
<br />2013$3,130,973$4,837,498$7,968,471$7,614,687$3,183,133$2,242,120
<br />2014$3,510,002$5,186,375$8,696,377$8,117,584$4,221,522$5,911,193
<br />2015$3,535,591$5,389,579$8,925,170$8,175,494$6,904,543$9,248,168
<br />Source: FAA CATS Report 127
<br />Note: (1) Operating expenses less depreciation
<br />
<br />
<br />54
<br /> FAA Airport Improvement Program (AIP) is a federal grant program that provides funds to airports to help improve safety,
<br />capacity, and maintain infrastructure. The money is raised through taxes on airplane tickets sold to the public and on aviation fuel
<br />sales.
<br />EUGENE AIRPORT MASTER PLAN 1-75
<br />
<br />
|