Tri-Cities Airport Authority approves Fiscal Year 2022 operating budget
Above: Rene Weber, director of Finance (standing, at left) goes through the proposed FY 2022 operating budget at the airport authority meeting June 24 at the Gray Fossil Site.
The Tri-Cities Airport Authority approved on June 24 a fiscal year 2022 operating budget that includes a projected net operating loss of almost $1.5 million. The airport plans to draw $3 million from the $10+ million it received in CARES Act funding last year to more than make up the difference.
Director of Finance Rene Weber led the authority through an explanation of the proposed operating budget. It includes total revenues projected to be $5,934,448. Total expenses are projected to be $7,422,566.
The revenues are just shy of 13 percent less than what had been budgeted for fiscal year 2021, but are 7.5 percent greater than the FY21 projection. Expenses are 2.2 percent greater than the FY21 budget, but are 12.7 percent greater than the FY21 projection.
“Net income, after adjustments and CARES Act draws, is budgeted to be $1,413,782,” Weber said.