Title
Consider/Discuss/Act on McKinney Airport Development Corporation Budget for FY 2010-2011
Summary
MEETING DATE: September 21, 2010
DEPARTMENT: McKinney Airport Development Corporation
CONTACT: Kenneth F. Wiegand, A.A.E., Executive Director
Andrew Cowan, Vice-Chairman and Treasurer, MADC
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the McKinney Airport Development Corporation proposed FY2011 budget.
ITEM SUMMARY:
• Budget Approval.
BACKGROUND INFORMATION:
• The budget incorporates four areas -
o Revenue collection -
§ Lease of public (airport) land to private developers and businesses.
§ Fuel Flowage Fee.
§ Fuel Farm Tank Pad Fee.
§ Revenue collections to offset (reimburse) various expenses for services rendered by US Customs.
§ MADC’s share of the state’s $100,000 RAMP grant.
o Administration - Covers day to day administration of the airport as well as MADC.
o Operations - Safety, security and maintenance of airport grounds and facilities plus construction projects.
o Aeronautical services such as US Customs operations and 16/7 operation of the airport Control Tower.
• This budget supports hiring a seasonal employee to assist in airfield maintenance during the summer months.
FINANCIAL SUMMARY:
• This budget requires a $565,000 General Fund contribution, which is $135,115 less than the end-of-year estimate for FY10.
BOARD OR COMMISSION RECOMMENDATION:
• Approval of the McKinney Airport Development Corporation proposed FY 2011 budget.