Search terms: * |
Page
1
of
2
MAY 06, 2021
A Joint Workshop Meeting of the
Board of Port Commissioners
Airports Special Management Committee, was held on this date in the Training and Conference Center at
Southwest Florida International Airport (RSW), with the following members present:
(Left the meeting at 10:25 a.m.)
Ray Sandelli
Absent
Absent
Absent
Randy Krise
Robbie Roepstorff
REGIONAL MEMBERS
:
Cha rlott e Count y Re pr ese nta tive Da na W. Car r-
Absent
The Chairman called the meeting to order at 10:12 a.m.
EXECUTIVE DIRECTOR
Executive Director Ben Siegel opened the first budget workshop for the FY2021-2022 Budget process and
commented it is the first time the Port Authority has met with the Joint Board prior to commencement of the
PRESENTATION
Topic:
Presented by:
PowerPoint presentation,
reviewed a
schedule of dates for the FY2021-2022 Annual Budget beginning with today's first Budget Workshop with the
Assumptions and pointed out the continuation budget growth projection for this year of 7,224,000 Passengers
and 8,300,000 in 2022. He reviewed CARES Act funding received and anticipated additional funds in 2022
referencing a statement by Executive Director Ben Siegel that RSW is the #1 airport in the country for
passenger recovery following the impacts of COVID-19 on commercial air traffic. Mr. McGonagle stressed that
the CARES money received this year has been and will continue to be a very significant factor for recovery
through FY2022. He identified primary objectives for the operating fund as catching up on deferred
maintenance projects, maintaining a competitive CPE (≤ $8.50 (cost per enplanement); planning for and
funding of six to eight new positions, allocating resources for pay plan adjustments of up to 4 percent with a
2percent pay plan adjustment on 10/01/2021 for all employees and then up to a 2 percent merit increase on the
employee anniversary dates. Mr. Siegel responded to questions and comments by Commissioners Pendergrass,
Sandelli and Ruane concerning the projected merit increases. He continued with Projected Capital Budget
Assumptions, including
•
Terminal Expansion Project
o
Estimated cost $279 million
o
April 2021 Bidding
o
Award Bids August ASMC
o
Award Bids at September Joint Board Meeting
o
Issue New Debt
o
Estimate at $225 million with a closing in October 2021
o
Planned opening in October 2024
•
Airport Traffic Control Tower
o
Estimated cost $82 million
o
LCPA to turn over to FAA in summer 2021
o
Opening 2022
•
Passenger Boarding Bridges
o
Estimated cost $36 million
o
Replace all jet bridges
o
Estimated completion November 2021
Minutes of 050621PW
Page
2
of
2
Mr. McGonagle discussed Key Indicators, reiterating the significance of benefits provided by the CARES Act
funds and how it has provided assistance in many instances and remains an invaluable part of the FY2021 and
FY2022 budgets. He responded to Commissioner Ruane's question as to whether the Port Authority uses a
CAFR Adjustment in the budget process and about changes to the budget between now and finalization in
September. Mr. McGonagle responded that typically there are no changes but, if so, adjustments can be made
during the final hearings phase or by the use of budget amendments after budget approval. Mr. McGonagle and
Executive Director Siegel also responded to Commissioner Ruane's comments about how cash-on-hand impacts
bond ratings. They plan to take a look at what other airports are doing and bring the results back for discussion
with the Board. Mr. Siegel responded to Commissioner Sandelli's question about freight, stating it is about four
percent of the total landed weight at RSW. Following brief comments regarding other funds and how they
impact the budget, Mr. McGonagle advised that staff prepares a monthly financial dashboard for review by the
Board.
ADJOURN
Chairman Ruane adjourned the meeting at 11:40 a.m.
By: _____________________________
_______________________________________
Minutes of 050621PW