Many City services are funded through user fees instead of General Fund tax revenue. Have these operations been affected by the economic downturn?
AirportThe current economic downturn has negatively affected the finances of the Airport Fund, in two areas. First, the decline in passenger and commercial airline traffic has resulted in a decline in revenues generated from landing fees, parking revenues, and concessions. Secondly, the general decline in the economy has resulted in the loss of some major tenants and rental income is down. In total, revenues for fiscal year 2010 reflect the declining economy and real estate changes and are projected to be approximately $267,000 (2.3%) below fiscal year 2009. In developing the recommended budget, the Airport Department’s goal was to meet the operational needs of the Airport, while maintaining the cash flow necessary for the issuance of long-term debt to finance the upcoming Airline Terminal Improvement Project. In order to offset the loss of revenues, the Airport Department proposes several measures, including raising parking fees to raise an additional $60,000 in revenues; and expendit
