Airport Budget
In this fifth paper, you are to prepare a budget for your airport. Given the nature of this Course, and with the understanding that any airport budget, for even the smallest of facilities, cannot be prepared in one week’s time, you are not expected to prepare a detailed budget nor the analysis that always accompanies one. However, you have acquired enough insight into both your selected airport and the working process of developing a budget for you to easily prepare a budget worksheet that addresses the key financial components of revenue and expenses meeting the minimum requirements to support your airport for the next fiscal year.
Your paper should include both tables (expenses and revenue) as well as a brief description of each source of revenue and the purpose of each expense line items. For those students who have had an accounting course, this exercise should be a snap. For those who have not, you’ll need to work a bit harder.
Put your name, date, and “Module 6 Research Paper” in the header. Follow the current APA style format guidelines and submission requirements set forth for the other short papers.
Your score is part of the weekly paper grade that counts as 30% of your final Course grade.
references
Read from the course textbook: Airport planning & management (Wells & Young, 2011)
Chapter 9: Airport Financial Management.
Review and become familiar with the following material:
- Airport Sponsor Assurances, FAA – Assurances 14, 15, 24, 25, and 31.
- Application for Federal Assistance:
- SF-424
- FAA 5100-100
- FAA 5100-101
(Review the FAA planning and development forms, and note the information required for each.)
- PFC Program: Review the information on this program and compare and contrast the PFC Assurances with the standard FAA Airport Assurances.
- FAA Order 5190.6B – Review and understand Chapters 15 – 19:
- Chapter 15 – Permitted and Prohibited Uses of Airport Revenue
- Chapter 16 – Resolution of Unlawful Revenue Diversion
- Chapter 17 – Self-sustainability
- Chapter 18 – Airport Rates and Charges
- Chapter 19 – Airport Financial Reports
Obtain Documents: Click the following links, locate the documents and other available information, then either download and print them, or bookmark them so you can locate them later on.
- FAA Order 5190.6B: (Links to an external site.) FAA Airport Compliance Manual. Obtain Chapters 15 through 19.
- Application for Federal Assistance: (Links to an external site.) In the scroll down box, select “Airport Improvement Program”, click “Go” and look for these forms:
-
- SF-424,
- FAA 5100-100,
- 5100-101.
- PFC Program: (Links to an external site.) This link takes you to the FAA web page on the PFC program where you’ll find a wealth of information, including the PFC Program Assurances.
- Airport Budget: See if you can locate a budget for your airport, if not, obtain one for any airport.
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