The MidCoast Regional Airport’s Joint Management Board recently approved the airport’s fiscal-year 2016-17 budget, which shows declines in both revenue and expenses.
The new spending plan calls for $358,751 in revenue, down from $369,331 in fiscal 2015-16, and $483,831 in expenses, down from $520,092. The budget is balanced by using cash reserves, said Carmen Cole, the Liberty County Development Authority’s director of administration and finance.
The largest chunk of both the revenue and expenditures is fuel. The airport projects buying 25,000 gallons of aviation gas at $3.25 per gallon and 15,000 gallons of jet fuel at $2 a gallon, for a total of $111,250.
In turn, MidCoast budgets selling 25,000 gallons of aviation gas at $4.25 a gallon and 15,000 gallons of jet fuel at $4.50 a gallon, for a total revenue of $173,750, or a net gain of $62,500.
Another revenue increase will come from the maintenance hangar, which is projected to add a new tenant, more than doubling hangar revenue to $15,000 from last year’s $7,200.
This year’s budget does not include any major initiatives, Cole said, noting that last year saw the purchase of security upgrades. Also, the pilots’ lounge was dedicated last month in honor of Louis L. Duvernay, Fort Stewart’s first African-American pilot instructor.
Cole said MidCoast Airport sees a mix of military and civilian, commercial and private traffic. It also serves as a place for prospective corporate executives to fly company jets for site visits in Liberty County rather than having to use Savannah/Hilton Head International Airport, she said.
"The recently adopted budget is indicative of the airport board’s goal to reduce expenses as much as possible, while utilizing a conservative approach on anticipated revenues," said Allen Brown, the chairman of the airport’s Joint Management Board. "The board is pleased to report that the airport continues to expand and offer opportunities to both civilian and military pilots, and enhances economic development."