Airport FundsIrga'a IL
The airport operating fund that I have already given you includes the revenue projections
and the expenditure projections for 2005-2006.
I can prepare a set of notes explaining the major changes from last year if you want them.
This is the • that we have established with the $1 million •• set aside allocated by
the • The fund, and its balance, are -.• on the s•• The • monies
came from the sale of land. That amount was $900,000 from the sale of the land south
Rosauers. The fund needs to have $100,000 more deposited in it to make it whole. I
13MEMMIM
FAA Grants Pending:
Land Acquisition Reimbursements:
(name properties)
• Improvement Reimbursernents
(name projects)
(name structures)
Administrative and Planning:
(name project)
FAA Non -Primary Entitlements:
Allocation for 2005
(Transferred to State Aeronautics, to be returned in 2006)
Allocation for 2006 $150,000
State Aeronautic Grants Pending:
FAA matching Grants (restricted):
Grant issued in 2004 (extended) $ 17,500
State appropriation Grants:
Fencing grant issued in 2005
Other existing grants
Loans trom Airport
(name project)
EM
There are funds left in some FAA grants that I will have to investigate. Normally we loose
these funds if they are not used in three years. I will have to dig up the original
paperwork.
I have asked for an extension of the State grant in the amount of $17,500 because it is a
restricted grant that can only be used to pay our share of an FAA approved project. The
first project we get approved up to $325,000 we will have our 5% paid by this grant.
I agree that we need to set up the Airport Funds separate from Airport TIF Funds. We
also need to track the FAA Grants and the State Grants we apply for in the Airport Fund,
not the Airport TIF Fund.
As the auditors mention, we can borrow from the Airport TIF Fund those monies we need
and pay the Airport TIF Fund back as the Grant money comes
Whenever you are ready to set this up for 2005-2006 Budget, let me know and I will help.
I need to understand the system to be able to operate within it.
Thanks,
Fred