NEW KNOXVILLE – At a Feb. 24 meeting of the Auglaize County Airport Authority (ACAA) approved the biennial financial overview as well as approved use of their logo for an upcoming 5K race. Also, plans for the grand opening of the new terminal at the Neil Armstrong Airport were discussed.
Mark Howe, ACAA treasurer, presented a document to the ACAA group, where he pointed out key financial highlights for 2020 and 2019. Once approved, the report will be sent to the State Auditor’s office. For example, the authority’s net position increased by $108,808 in 2020 and increased by $41,741 in 2019. Further, gross income from sales for 2020 was lower than in 2019. Gross profit on fuel sales for 2020 was $42,367 compared to $46,629 in 2019. Other highlights showed that operating expenses (excluding the cost of fuel) increased in 2020 to $28,950 compared to 2019. Payments for overtime and salary was $4,200 less in 2020 as compared to 2019.
There was $15,712 paid repairs and maintenance, which was $3,781 more than 2019. New capital land improvements in 2020 cost $185,348. Depreciation expenses totaled $42,875 in 2020 and $33,104 in 2019.
In other business, approved was the use of the ACAA logo for a 5K run being organized by Amy Kentner. It was agreed the logo could be used on the race medal design and within communication items sent out by Kentner’s group. The race will be held during the June 12 grand opening of the new airport terminal. The group also approved the raising of 100LL fuel price from $4.45 to $4.50 per gallon to meet the Airport need of a net profit margin of 11%, Additional discussion after the conclusion of the meeting included ongoing plans for the new terminal’s grand opening. The plans include a morning pancake breakfast, plus lunchtime activities and possibly music and food, with a 5K race at night. It was also discussed the displaying of all of the airport’s maintenance equipment during the event.