2013-2014 budget - City of Syracuse

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AVIATION ENTERPRISE FUND
OTHER AVIATION REVENUE: This line includes the land rent for the freight building located on airport property, as well as a $.9623 per square foot
fee for rental of space within the freight building to third parties. The airport also collects rent for the land on which rental car lots and maintenance
facilities are located.
CONCESSION REVENUE: The operators of gift shops, the restaurant, car rental agencies, the barber shop, video games, taxi, baggage delivery and
other private commercial activities located at the airport pay a percentage of gross sales to the airport. Each contract is negotiated separately, and
rates vary from 5% to 50% of gross revenue.
LANDING FEES: Airlines and freight carriers pay a landing fee to use airport facilities. Fees are calculated annually based on estimated expenses
and anticipated landed weight. Passenger and cargo carriers, signatory to an agreement effective July 1, 2013 to June 30, 2014, pay $3.39 per
thousand pounds of landed weight. Carriers that are not signatory to the agreement pay $3.73 per thousand pounds of landed weight. The total
number of revenue-producing landings at the airport is about 24,000 to 25,000 per year.
PARKING LOTS: The airport has an agreement with a private contractor to operate the parking garage and open lot located on the airport grounds.
Under the terms of that agreement, the airport pays a fixed amount for management fees of $1,470,960/annually or $122,580/monthly.
TERMINAL BUILDING INCOME: In addition to the percentage of gross revenue paid to the airport, some concessions pay rental from the space that
their operations occupy in the airport terminal building. Similarly, airlines pay rent for the space in the terminal that their ticketing and other operations
occupy. The airport also receives reimbursement for utilities from commercial operations in the terminal, as well as reimbursement for the cost of
police coverage of the security checkpoints.
INTEREST ON RESERVES: This line is for earnings on bank deposits of surplus cash not currently in use by the fund.
INTEREST ON OPERATING FUNDS: Cash needed for operating expenses are held in interest bearing accounts until such time as cash flow dictates
its use.
DEBT RESERVE APPLIED-AVIATION: Debt reserve applications for the Enterprise Fund are shown in the 2013/14 budget as revenue. Debt
reserve accounts for monies that are legally restricted for the payment of long-term debt.