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PENINSULA AIRPORT COMMISSION
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
YEAR ENDED JUNE 30, 2023
The accompanying notes to the financial statements are an integral part of these statements.
12
Operating Revenues:
Airfield
1,448,250
$
Terminal and landside
3,437,367
Other rents
361,114
Administrative and miscellaneous
45,677
Total Operating Revenues
5,292,408
Operating Expenses:
Advertising
555,808
Audit
50,500
Commission fee
13,833
Communications
85,585
Cost of sales
466,815
Crash and rescue
61,356
Depreciation and amortization
7,949,330
Dues and subscriptions
32,706
General office
77,768
Insurance
290,730
Janitorial supplies
19,706
Labor
3,241,100
Management fees
605
Miscellaneous
13,534
Payroll taxes and benefits
102,460
Postage
2,257
Professional services
434,288
Repairs, maintenance, and supplies
1,781,062
Training
11,668
Trash removal
62,236
Travel and promotions
32,978
Uniforms
8,538
Utilities
741,595
Total Operating Expenses
16,036,458
Loss from Operations
(10,744,050)
Nonoperating Revenues (Expenses):
Federal grant revenues
705,129
Interest income
3,520
Interest expenses
(227,072)
Other income
405
Gain on sale of capital assets
4,212,197
Net Nonoperating Revenues
4,694,179
Loss Before Capital Contributions
(6,049,871)
Capital contributions
2,819,985
Change in net position
(3,229,886)
Total net position, beginning of the year
80,516,402
Total net position, end of the year
77,286,516
$
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