This page uses extracted PDF text. Text can misread numbers, dates or table columns. Check the PDF before quoting or interpreting it. Redacted areas remain redacted.
PENINSULA AIRPORT COMMISSION
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2024
7
Airport Rates and Charges
The Commission established an Airline Use and Lease Agreement (“Agreement”) effective November 1, 1992,
which in part establishes the rates and charges for the use of the Airport. Landing fees are $1.98 per 1,000 lbs.
of landed weight at June 30, 2024. Terminal rental rates are $34 per square foot at June 30, 2024. The
Commission also has the ability under the Agreement to adjust Airport rates and charges annually to ensure
adherence to all financial covenants in its bond resolutions. It establishes new rates and charges for the use of its
facilities and for services provided to its customers on an annual basis. Airline permits were negotiated with the
airlines in 2012 and are on a month-to-month schedule. New Airport rates and charges were approved for FY 2020
and went into effect on July 1, 2019.
Revenues
A summary of revenues is as follows:
Percent of
Percent of
2024
Total
2023
Total
Operating Revenues:
Airfield
1,549,523
$
28.1%
1,448,250
$
14.2%
Terminal and landside
3,336,327
60.5%
3,437,367
33.7%
Other rents
381,647
6.9%
361,114
3.5%
Administrative and miscellaneous
2,396
0.0%
45,677
0.4%
Total Operating Revenues
5,269,893
95.5%
5,292,408
51.8%
Nonoperating Income:
Federal grants
-
0.0%
705,129
6.9%
Interest income
2,551
0.0%
3,520
0.0%
Other
-
0.0%
405
0.0%
Gain on sale of assets
245,000
4.4%
4,212,197
41.2%
Total Nonoperating Income
247,551
4.5%
4,921,251
48.2%
Total Revenues
5,517,444
$
100.0%
10,213,659
$
100.0%
Jump to an indexed page (60 of 60)