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IMPLEMENTATION AND FINANCING PLAN
<br />TABLE 5-5
<br />HISTORIC AND PROJECTED 5-YEAR OPERATING REVENUE AND EXPENSES
<br />HistoricProjected
<br />1
<br />FY 2012FY 2013FY 2014FY 2015FY 2016FY 2017FY 2019FY 2020FY 2021FY 2022
<br />FY 2018
<br />Operating Revenues
<br />Licenses and permits$0$0$0$0$0$0$32,650$33,708$34,800$35,927$37,091
<br />Rental income$3,279,829$3,383,680$3,605,584$3,711,608$1,061,267$1,133,368$1,206,039$1,245,107$1,285,441$1,327,082$1,370,071
<br />Charges for services$4,759,092$5,016,758$5,421,497$5,714,863$8,981,761$9,924,014$11,472,019$11,843,643$12,227,306$12,623,396$13,032,318
<br />Fines and forfeits$7,999$6,387$4,352$3,043$1,549$899$4,600$3,472$2,986$2,758$2,711
<br />Miscellaneous$22,033$57,007$14,221$11,162$80,222$38,566$561,500$127,113$138,797$159,560$184,293
<br />Other$0$0$0$0$0$0($1,000,000)$0$0$0$0
<br />Total Operating Revenues$8,068,953$8,463,832$9,045,654$9,440,676$10,124,799$11,096,847$12,276,808$13,253,043$13,689,330$14,148,723$14,626,484
<br />Operating Expenses
<br />Personnel services$4,177,069$4,419,537$4,646,741$4,229,446$4,574,474$4,825,358$5,252,534$5,406,304$5,564,576$5,727,480$5,895,155
<br />Contractual services$796,822$841,958$953,499$1,062,807$968,816$2,072,164$1,180,256$1,179,917$1,236,243$1,283,367$1,320,127
<br />Materials and supplies$946,752$833,888$904,856$750,021$1,049,764$798,115$931,257$877,984$885,333$882,079$904,089
<br />Maintenance$412,529$449,103$422,298$403,645$395,913$518,969$458,712$441,440$440,163$443,140$449,723
<br />Utilities$443,309$496,392$579,950$514,822$526,600$605,088$681,002$724,721$771,247$820,759$873,450
<br />Rent$0$174$0$5,825$3,624$0$1,696$1,887$2,172$2,534$1,985
<br />Taxes$0$0$0$0$0$0$0$0$0$0$0
<br />Insurance$134,008$105,636$122,954$130,973$133,795$158,927$173,908$179,942$186,185$192,646$199,330
<br />Claims$0$0$0$0$0$0$0$0$0$0$0
<br />Central business functions$440,000$468,000$512,000$508,000$520,000$603,000$679,201$723,387$770,449$820,572$873,956
<br />Pension expense($788,013)$2,049,170$1,321,418$1,397,488$1,397,488$1,397,488$1,397,488$1,397,488
<br />Total Operating Expenses$7,350,489$7,614,688$8,142,298$6,817,526$10,222,156$10,903,039$10,756,054$10,933,069$11,253,855$11,570,066$11,915,303
<br />Operating Income (loss)$718,464$849,144$903,356$2,623,150($97,357)$193,808$1,520,754$2,319,974$2,435,474$2,578,658$2,711,181
<br />without Depreciation
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<br />Sources: City of Eugene Comprehensive Annual Financial Reports (CAFR) FY 2013-2017. RS&H Analysis, 2018
<br />1
<br />Notes: 2018 projected Operating Revenues and Total Operating Expenses data is adopted from Eugene Airport preliminary financial data reported
<br />February 15, 2018 and includes "Other" category for "Fund 511 share of project cost of ($1,000,000) to transfer to Fund 512". All values shown in 2017
<br />dollars.
<br />Areview of airport cash flows for the period between FY 2012 and FY 2017 was conducted showing a
<br />stable balance of cash reserves that have been on a decline during this period, primarily generated by the
<br />funding of airport infrastructure projects using part of the reserve. Table 5-6 below presents both historic
<br />cash flow balances for FY 2012 to FY 2017 as well as projected cash flows for FY 2018 to FY 2022. Cash
<br />flow projections for both operating and non-operating activities were established considering historic
<br />trend lines for the past six years and cash flow requirements for capital assets came from the pay-go
<br />requirements of the five-year Capital Improvement Program presented in the Section 5.7, Airport
<br />Development Phasing and Funding Plan, of this report. Cash reserves continue declining during the
<br />future five fiscal-year periods due to significant investment in necessary capital improvement projects but
<br />remain above $3 million through FFY 2022. Cash reserves begin to rebound in FFY 2023 as cash flow from
<br />operating activities increases due to the additional leasable terminal space and PFC funds are introduced
<br />to repay the 20-year municipal bond.
<br />EUGENE AIRPORT MASTER PLAN 5-17
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