HomeMy WebLinkAbout1979-087-09/18/1979-ADOPTING AN ANNUAL BUDGET FOR THE FORT COLLINS-LOVELAND MUNICIPAL AIRPORT RESOLUTION 79-87
OF THE COUNCIL OF THE CITY OF FORT COLLINS
ADOPTING AN ANNUAL BUDGET FOR THE
FORT COLLINS-LOVELAND MUNICIPAL AIRPORT
WHEREAS, pursuant to agreement with the City of Loveland dated
July 3, 1979, the City of Fort Collins and the City of Loveland jointly are
required to adopt an annual budget for the Fort Collins-Loveland Municipal
Airport, and
WHEREAS, the City Manager of the City of Fort Collins and the City
Manager of the City of Loveland have jointly submitted to both City Coun-
cils a proposed budget for the year 1980
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS
That that certain annual budget, a true copy of which is attached
hereto, be, and the same hereby is, approved and adopted
Passed and adopted at a regular meeting of the City Council held this
18th day of September 1979
Mayor
Zlerk
- a
1980 BUDGET
FORT COLLINS/LOVELAND AIRPORT
COMPARATIVE STATEMENT OF INCOME
ACTUAL BUDGET REVISED PROPOSED
1978 1979 1979 1980
Operating Revenues - $ 20 ,000 22 ,000
Gas & Oil Commissions 1222 - 4 ,000 4 ,000
36,,222
Rent from FBO 483 - 15 ,000 15 ,000
,
Farm Operations 59 - 1 ,500 1 ,500
1 ,
Tie Down Fees 671 - 18 ,000 24 ,000
Hanger Rents 7 , 92 - 5 ,000 5,000
Aircraft Licenses ,7 - 150 200
25
Landing Fees 2 ,125 - 2 ,100 2,000
Airport Concession ----
74
Total Operating 43,762 - --65 ,750 -73 ,7�
Revenues
Operating Expenses - _ - -
Personal Services _ 41 ,406 34 ,600
Contractual _ 4 ,800 5,000
Commodities
Total Operating 23,842 - 46 206 _ 39 ,600
Expenses
Operating Income Before _ 19 ,544 i4 ,100
Depreciation 19 ,920
74,574 - 75 ,000 87 ,500
Depreciation --
Other Income ( Expense) 4948 - 1 ,000 1 ,000
,
Interest 13 _ - - -
rAiscellaneous
Loss From D1 *0sal Of (24 ,263) - - ---
Assets -----
Total Other Income 19 302) - 1 ,000 1 ,000
(Expense) -"-----
Income Before Cumulative
Effect of a Change in Acctg (73,956) - (54 ,456) (52 ,400)
Principle
Cumulative Effect of Change 92 ,552 - ----- -
In Acctg Principle - __
18,596 S _----- _(54 ,456) 5 _ (57 ,400)
Pet Income --
-CITY OF FORT COLLINS
I
—, --r— 1980 BUDGET
FOPT COLLINS/LOVELAND AIRPORT
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION*
ACTUAL BUDGET REVISED PROPOSED
1978 1979 1979 1980
Beginning Working Capital $ 9,668 $ - $ 16,989 $ 87,533
Additions
Net Income (73,956) - (54,456) (52,400)
Depreciation 74,574 - 75,000 87,500
Loss from Disposition 24,763 - - -
Contributions
Fort Collins 17,500 - 25,000 25,000
Loveland 30,000 - 25,000 25,000
FAA 690,864 - 75,000 1 , 537 , ;a6
Financing Pioceeds - - 132,500 403,066
Total Additions 763,745 - 278,044 2,025,172
Deductions
Property & Equip 741 ,424 - 207,500 1,903,066
Option Payment 15,000 - - -
Master Plan Update - - - 51 ,376
T-Hangar Debt - - - 19,303
Constiuction Debt Int - - - 2,500
Total Deductions 756,424 - 207,500 1 ,976,245
Ending Working Capital $ 16,98q $ - $ 87,533 $ 136,460
*Exercise T-Hangar Option - Finance Over 10 years at 7 5%
CITY OF FORT COLLINS
1980 BUDGET
FORT COLLINS/LOVELAND AIRPORT
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION*
ACTUAL BUDGET REVISED PROPOSED
1978 1979 1979 1980
Beginning Working Capital $ 9,668 $ - $ 16,989 72,533
Additions
Net Income (73,956) - (54,456) (52,400)
Depreciation 74,574 - 75,000 87,500
Loss from Disposition 24,763 - - -
Contributions
Fort Collins 17,500 - 25,000 25,000
Loveland 30,000 - 25,000 25,000
FAA 690,864 - 75,000 1 ,447,006
Financing Proceeds - - - 352,500
Total Additions 763,745 - 145,544 1 ,884 ,606
Deductions
Property & Equip 741 ,424 75,000 1 ,762,500
Option Payment 15,000 - 15,000 15,000
Master Plan Update - - - 51 ,376
T-Hangar Debt - - - -
Construction Debt Int - - - 2,500
Total Deductions 756,424 - 90,000 1 ,831 ,376
Ending Working Capital $ 16,989 $ - $ 72,533 $ 125,763
*Do not exercise T-Hangar Option
CITY OF FORT COLLINS