MT. VERNON — A tentative annual budget for the 2014-2015 fiscal year was approved by the Mt. Vernon Airport Authority on Tuesday.
The budget shows revenues of $477,492 and expenditures of $475,992, leaving approximately $103,573 cash on hand by April 30, 2015.
The largest expenditure is for salaries of $166,300, maintenance of $78,000 and insurance of $76,900.
The largest anticipated revenues are $145,000 from the personal property replacement tax and $118,860 in property taxes.
“The only wildcard is what the Affordable Health Care Act will throw at us,” said Manager Chris Collins. “I was real pleased with the way it turned out.”
The budget will be on display for 30 days, a budget hearing will be held prior to next month’s meeting and the ordinance is expected to be approved at the August meeting.
In old business, Collins said a bid of $318,000 from E.T. Simonds was accepted on June 13 for the taxiway revitalization project.
The project came in about $30,000 under the engineer’s estimate. The total cost of the project is estimated to be near $400,000, with the 5 percent local match expected to be around $25,000.
Collins said the project would kick off some time in September and take only 20 days to complete.
“That’s about a $1,500 savings on our local share and any savings is good,” Collins said.
In other business, Collins and commissioner Eddie Lee attended a meeting in Springfield recently with the Division of Aeronautics on future projects. The local contingent learned although a T-hanger project scheduled for 2015 had not been programmed by the feds, work could continue on the pavement part of the project next year, although the Airport Authority could not be re-imbursed for the project costs until 2016.
Collins estimated the cost of the pavement portion of the project to be around $300,000 with a local match provided.
At the same meeting, Collins reported local funds could be used to widen the taxiway pavement on the southwest end of runway 5.
Collins also told commissioners he would be preparing a hangar policy for approval at next month’s meeting.