June 16, 2008
Airport Approves Budget in Line With ’08 Figures
By Michelle Koetters
By Michelle [email protected]BLOOMINGTON - The Twin Cities' airport will take a conservative approach to finances next year.
The Bloomington-Normal Airport Authority approved the fiscal year 2009 budget for the Central Illinois Regional Airport in Bloomington at its monthly meeting Thursday. Revenues and expenses are budgeted to be about even with fiscal year 2008, which reflects the uncertainty in the airline industry because of record fuel prices and a slowing economy, said Executive Director Carl Olson.
The authority budgeted about $3.6 million in revenue for May 2008 to April 2009. That amount is slightly more than the 2008 budget, though the airport actually brought in almost $4 million in the past year. The airport's current tax rate of 4 cents per $100 of assessed value for Bloomington and Normal residents will not increase.
The airport anticipates expenses will total about $3.5 million in 2009. The airport will employ aggressive cost control measures to keep expenditures down, and it will look to find increased revenues outside of aviation, such as farm and land leases and CJ's Restaurant, Olson said. The airport's actual expenditures in 2008 were about $3.6 million.
Airport traffic from January through May was up almost 5 percent from 2007, with 222,813 passengers so far this year compared to 212,426 travelers in the same time period a year ago. Bookings for summer travel also look good; however, airport officials are not sure how the rest of the year will play out, Olson said.
(c) 2008 Pantagraph. Provided by ProQuest Information and Learning. All rights Reserved.