FINANCIAL REPORTflyalbany.com/uploads/files/June_2017_for_web.pdf · 2017 Market Total 2017 2017 vs. Total 2016 2016 vs. Share Enplanements 2016 Enplanements 2015 American (formerly

FINANCIAL

REPORT (unaudited)

For the Quarter Ended

June 30, 2017

*** UNAUDITED - FOR INTERNAL REVIEW***

Page

Financial Information ............................................................ 1 Management’s Discussion and Analysis Statements of Net Position Statements of Revenues, Expenses and Changes in Net Position Statements of Cash Flows Statements of Fiduciary Fund Net Assets Statements of Changes in Fiduciary Fund Net Assets Notes to the Financial Statements Financial Summary Statistical Highlights ............................................................ 36 Airport Revenues ................................................................. 47 AvPort Airport Operations .................................................. 57 Million Air FBO Operations ................................................ 67 Authority Operations ........................................................... 82 Investment Report ................................................................ 91

MANAGEMENT’S DISCUSSION AND ANALYSIS

This Management Discussion and Analysis (MD&A) of the Albany County Airport Authority (the Authority) provides an introduction of the basic financial statements for the six months ended June 30, 2017 with selected comparative information for the six months ended June 30, 2016 and June 30, 2015. Management prepared this unaudited MD&A, which should be read in conjunction with the financial statements, and the notes thereto, which follow in this section. BASIC FINANCIAL STATEMENTS The Authority’s basic financial statements include three financial statements: the Statements of Net Position, the Statements of Revenues, Expenses and Changes in Net Position and the Statements of Cash Flows. The financial statements are prepared in accordance with accounting principles generally accepted in the United States of America as promulgated by the Governmental Accounting Standards Board (GASB). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. However, we believe that all disclosures are adequate to make the information presented not misleading. The December 31, 2016 Statements of Net Position and other prior year condensed financial information was derived from the Authority’s audited 2016 basic financial statements, as restated to implement recently issued accounting standards, and other unaudited sections of the Authority’s 2016 Comprehensive Annual Financial Report, but is not presented with all disclosures required by accounting principles generally accepted in the United States of America. The accompanying unaudited financial statements should be read in conjunction with the audited basic financial statements and the notes thereto, included in our Comprehensive Annual Financial Report for the year ended December 31, 2016 and the notes attached to these statements. In the opinion of our management, adjustments necessary to fairly present our financial position, report total operating revenues, operating expenses, non-operating income and expenses, capital contributions and the changes in net position during the six months ended June 30, 2017 and 2016 and cash flows for the interim periods presented have been included. The results of operations for the six months ended June 30, 2017 are not necessarily indicative of the results to be expected for the full year or for any future periods. Also included are the Statements of Fiduciary Fund Net Position and the Statements of Changes in Fiduciary Fund Net Position. The Statements of Net Position depict the Authority’s financial position at June 30, 2017 and December 31, 2016, the end of the Authority’s previous fiscal year. The Statements report all assets, deferred outflows of resources, liabilities, deferred inflows of resources and net position. Net position is displayed in three components: net investment in capital assets, restricted (distinguished between major categories of restrictions) and unrestricted. The Statements of Revenues, Expenses and Changes in Net Position report total operating revenues, operating expenses, non-operating income and expenses, capital contributions and the changes in net position during the six months ended June 30, 2017 and 2016. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of the cash flows. The Statements of Cash Flows present information showing how the Authority’s cash and cash equivalents position changed during the six months ended June 30, 2017 and 2016. The Statements classify cash receipts and cash payments by Operating Activities, Noncapital Financing Activities, Investing Activities, and Capital and Related Financing Activities.

1

2017 2016 2015Enplanements 688,504 680,340 616,450

% increase/(decrease) 1.2% 10.4% 5.6%

Aircraft Landed Weight 789,706,088 784,351,749 676,566,842 % increase/(decrease) 0.7% 15.9% 0.8%

Operations (take-offs and landings)Commercial 23,066 23,307 21,007 General Aviation 6,371 6,936 6,266 Military 1,486 1,514 1,352 Total 30,923 31,757 28,625 % increase/(decrease) -2.6% 10.9% -5.7%

The Statements of Fiduciary Fund Net Position is a snapshot of account balances of the Authority’s fiduciary fund at June 30, 2017 and December 31, 2016. It indicates the assets available for future payments for retiree benefits and any current liabilities that are owed at this time. The Statements of Changes in Fiduciary Fund Net Position, on the other hand, provides a view of current period additions to and deductions from the net position held in the Trust during the six months ended June 30, 2017 and 2016. AIRPORT ACTIVITIES HIGHLIGHTS The County of Albany owns the Albany International Airport (the Airport) and entered into an Airport Lease Management Agreement, pursuant to which the County leased the Airport to the Authority for a 40 year term commencing May 16, 1996. The Authority employs two firms to manage the daily operations of the Airport: AFCO AvPorts Management LLC, (d/b/a Avports) manages the daily operations of the airport including airfield, terminal, security, ARFF, landside, building and vehicle maintenance and public parking pursuant to a management services agreement. REW Investments, Inc., (d/b/a Million Air) manages the daily operations of the Fixed Based Operations (FBO) of the airport including fuel farm management, commercial aviation into-plane fueling, and ground handling, fueling and hangaring of general aviation aircraft pursuant to a management services agreement. The Authority’s revenues are derived primarily from: Airline rates and charges for the use of the Airport’s facilities in the form of landing fees, terminal rentals, apron fees and loading bridge charges received from airlines using the Airport; concession fees from vendors serving the passengers including food and beverage, retail and rental cars; public parking fees including surface and garage parking; and FBO activities from general aviation activities. AIRPORT REVENUES Five major factors impact airport revenues: commercial operations, enplanements, FBO operations, concessions and parking: COMMERCIAL OPERATIONS The following shows the major indicators of the total commercial airline activities during the first six months of 2017, 2016 and 2015:

2

Carriers Flights Carriers Flights Carriers FlightsJet Service

Major Carriers 5 23 5 23 4 21Regional Carriers 8 20 11 21 6 17

Commuter ServiceRegional Carriers 4 15 2 14 4 16

Total 17 58 18 58 14 54

2017 2016 2015

2017 2016 2015Total Available Seats 857,749 846,658 737,294 Passenger Load Factor 80% 80% 84%

Change in Change in Change in Change inOperations Landed Weight Operations Landed Weight

American (formerly US Airways) 84 2,508,127 684 32,165,569 Boutique Air 290 1,522,501 - - Cape Air (564) (1,931,701) 212 678,153 Delta (78) (1,380,658) 216 4,751,806 Jet Blue (14) (1,040,580) 612 52,044,462 One Jet 14 109,900 - - Southwest 84 978,000 286 21,620,000 United 150 3,097,751 (130) (2,696,083) XTRA Airways 24 1,488,000 - - Charters - - (10) (776,000) Total (10) 5,351,340 1,870 107,787,907

2017 vs. 2016 2016 vs. 2015

2017 2016 2015Mail and Express Cargo Tons 9,905 9,070 9,343

% increase/(decrease) 9.2% -2.9% -2.6%

Regular scheduled daily passenger flights departing from Albany remained steady at 58 in June 2017 from June 2016 and increased from 54 in June 2015. Published available seats for the first six months of 2017 increased by 11,091 or 1.3% while the passenger load factor remained steady at 80%, resulting in an increase in enplanements for the first six months of 2017. The published available seats and the yearly load factors for the first six months of 2017, 2016 and 2015 is below: Landing fee revenues are not sensitive to the number of operations or landed weight because the agreements with the airlines and cargo carriers provides for the Signatory Passenger and Cargo Airlines to fund the operating costs of the Airfield after receiving credit for all airfield revenue. Accordingly, landing fee revenue is sensitive to changes in the annual cost of operating the airfield that fluctuate with the weather and maintenance needs. The decrease in airline operations and the increase in gross landed weight by airline for the first six months of 2017 compared to 2016 and 2016 compared to 2015 is as follows: As of June 30, 2017, two regularly scheduled express mail and various special cargo carriers serve this Airport.

3

2017Market Total 2017 2017 vs. Total 2016 2016 vs.Share Enplanements 2016 Enplanements 2015

American (formerly US Airways) 21.6% 148,670 3,020 145,650 11,157 Boutique Air 0.1% 564 564 - - Cape Air 1.0% 6,908 (975) 7,883 703 Delta 14.7% 100,871 (1,694) 102,565 1,722 Jet Blue 6.5% 44,838 3,680 41,158 41,158 One Jet 0.0% 16 16 - - Southwest 42.0% 289,260 (499) 289,759 11,986 United 14.1% 96,863 3,538 93,325 (2,836) XTRA Airways 0.1% 514 514 - - Total 100.0% 688,504 8,164 680,340 63,890

2017 vs. 2016 vs.2017 2016 2016 2015 2015

Revenues 4,130,464$ 7.0% 3,861,103$ -13.0% 4,438,886$ Expenses (inc. cost of sales) 3,580,899$ 10.0% 3,254,150$ -16.9% 3,914,929$ Retail Gallons Sold

Jet A 458,958 -2.1% 468,673 5.5% 444,317 AvGas 27,974 -18.9% 34,492 12.2% 30,747

Commercial AvGas 63,832 -20.3% 80,106 -4.9% 84,201 Glycol Gallons - Consortium 63,643 53.9% 41,349 -39.2% 68,058 Glycol Gallons - Sprayed 34,661 63.6% 21,186 -26.2% 28,704 Jet A Fuel Into-Plane Gallons 9,672,775 5.0% 9,209,910 14.9% 8,015,145

ENPLANEMENTS Enplanements for the first six months of 2017 compared to the first six months of 2016 increased by 8,164 passengers, compared to an increase of 63,890 in the first six months of 2016 vs. the first six months of 2015. The changes in enplanements by airline, including their express carriers is as follows:

FBO OPERATIONS REW Investments, Inc. (d/b/a Million Air) manages the daily operations of the FBO. A summary of the operating revenues and expenses, the gallons of Jet A and Aviation Gasoline sold, gallons of glycol sold and sprayed and the Jet A transferred to the commercial and cargo airlines is as follows for the first six months of 2017, 2016 and 2015:

CONCESSIONS Concession revenues for the first three month of 2017 were $3,456,227, a 4.7% increase from the first six months of 2016. Concession revenues for the first six months of 2016 were 0.5% higher than revenues in the first six months of 2015.

4

2017 vs. 2016 vs.2017 2016 2016 2015 2015

Rental Car RevenuesSales 21,180,562$ -0.7% 21,329,533$ -3.7% 22,139,035$ Authority Revenues 2,190,655$ 2.8% 2,131,830$ -3.6% 2,210,995$

Food & BeverageSales 3,982,661$ 2.1% 3,902,464$ 11.3% 3,505,249$ Authority Revenues 384,410$ 1.6% 378,237$ 16.3% 325,329$

RetailSales 1,861,698$ 9.3% 1,702,828$ 24.0% 1,373,325$ Authority Revenues 396,215$ 5.8% 374,399$ 5.8% 353,804$

Total Authority Concession Revenues 3,456,227$ 4.7% 3,300,772$ 0.5% 3,285,164$ Concession Revenue per Enplanement 5.02$ 3.5% 4.85$ -9.0% 5.33$

2017 vs. 2016 vs.2017 2016 2016 2015 2015

Public ParkingRevenues 8,053,951$ 2.0% 7,895,706$ 19.8% 6,592,396$ # of Vehicles Parked 319,534 0.2% 319,042 5.1% 303,499 Parking Revenue per Enplanement 11.70$ 0.8% 11.61$ 8.6% 10.69$

Concession revenue highlights for the first six months of 2017 compared to the first six months of 2016 and 2015 are as follows:

PARKING The Airport directly manages all on-airport parking operations which at June 30, 2017 consisted of 222 short-term garage/surface, 1,912 long-term garage, 1,792 long-term surface, and 2,574 remote shuttle served parking spaces. Revenue for the first six months of 2017 compared to the first six months of 2016 and 2015 are as follows:

5

2017 2016 2015

Operating Revenues 25,075,737$ 24,060,459$ 22,829,882$

Operating Expenses (17,084,243) (15,407,299) (15,753,095)

Revenues in excess of expenses

before depreciation 7,991,494 8,653,160 7,076,787

Depreciation (7,053,750) (6,800,000) (6,800,000)

Loss before non-operating income

and expenses 937,744 1,853,160 276,787

Non-Operating income and (expenses), net 418,899 (95,932) 73,216

Income before capital contributions 1,356,643 1,757,228 350,003

Capital Contributions 167,841 318,460 3,422,692

Net Position

Increase in Net Position 1,524,484 2,075,688 3,772,695

Net position, beginning of year 210,454,518 207,948,796 199,845,370

Net position, end of quarter 211,979,002$ 210,024,484$ 203,618,065$

2017 2016 2015FBO revenues 4,130,464$ 3,861,103$ 4,438,886$ FBO expenses 3,580,899 3,254,150 3,914,929 FBO net revenues 549,565$ 606,953$ 523,957$

SUMMARY OF REVENUES, EXPENSES AND CHANGES IN NET POSITION The changes in net position over time may serve as a useful indicator of changes in the Authority’s financial position. A summary of the Authority’s change in net position for the first six months June 30 is forth below:

The Authority’s operating revenues and expenses include the sales and cost of sales of fuel purchased and sold to general aviation customers through the FBO and also revenues for deicing activities. Gallons of jet fuel sold were 444,317, 468,673, and 458,958 for the first six months of 2015 to 2017, respectively. The FBO provides fueling services for all commercial airlines at the Airport. Some of the airlines provide their own aircraft deicing services. Accordingly, commercial aircraft deicing service revenue is sensitive to both demand for services and need for services based upon weather conditions. The total gallons of sprayed deicing services delivered in the first six months of 2015 through 2017 were 28,704, 21,186 and 34,661 gallons, respectively. The table below summarizes FBO revenues, expenses and net revenues for the first six months of 2017, 2016 and 2015:

6

2017 2016 2015Operating Revenues

Airfield 3,639,702$ 3,661,021$ 3,467,357$ Fixed Based Operations 4,130,465 3,861,103 4,438,886 Terminal 3,416,805 3,179,311 3,039,040 Ground Transportation 8,234,671 8,064,894 6,756,624 Concessions 3,456,227 3,300,772 3,285,164 Other 2,197,867 1,993,358 1,842,811

Non-Operating IncomePassenger Facility Charges 2,604,871 2,626,002 2,522,124 Grant Income 68,780 142,262 144,800 Improvement Charges 184,200 184,200 184,200 Interest Income 6,387 5,679 13,312

Total 27,939,975$ 27,018,602$ 25,694,318$ Percentage of Increase 3.4% 5.2% 2.2%

Airfield14%

Fixed Based Operations

16%

Terminal14%

Ground Transportation

33%

Concessions14%

Other9%

OPERATING REVENUES AND NON-OPERATING INCOME HIGHLIGHTS Total revenues for the first six months of 2017 were $0.9 million or 3.4% greater than the first six months of 2016. Fixed Based Operations revenues increased in 2017 due to higher deicing revenues and Ground Transportation revenues increased due to higher parking revenues.

Allocation of 2017 Operating Revenues by Category

7

2017 2016 2015Operating Expenses

Personal services 5,060,033$ 4,697,472$ 4,551,767$ Employee benefits 2,437,398 2,256,307 2,241,725 Utilities & communications 1,171,062 1,185,013 1,311,302 Purchased services 3,336,839 2,964,675 2,879,562 Material & supplies 4,313,200 3,603,504 4,249,548 Administration 610,682 592,275 498,981 Non-capital equipment 155,029 108,052 20,210

Depreciation 7,053,750 6,800,000 6,800,000 Non-Operating Expenses

Interest Expense 2,331,929 2,508,094 2,736,226 Amortization of Bond Issuance Costs 38,140 50,174 54,994 Air Service Incentive Program 75,270 495,808 -

Total 26,583,332$ 25,261,374$ 25,344,315$ Percentage of Increase/(Decrease) 5.2% -0.3% -4.0%

Personal services

29%

Employee benefits

14%Utilities &

communications8%

Purchased services

19%

Material & supplies

25%

Administration4%

Non-capital equipment

1%

OPERATING EXPENSES AND NON-OPERATING EXPENSES HIGHLIGHTS Total year to date expenses through June 30, 2017 increased $1.3 million or 5.2% as compared to the first six months of 2016. Higher costs for Fixed Based Operations deicing supplies, higher overtime, higher snow removal supplies and services all accounted for the increase in expenses during the first six months of 2017 as compared to the first six months of 2016.

Allocation of 2017 Operating Expenses by Category

8

June 30, 2017 December 31, 2016 December 31, 2015ASSETS

Capital assets 245,232,318$ 249,869,538$ 260,437,317$ Other assets 57,371,382 53,736,552 46,136,395

Total Assets 302,603,700 303,606,090 306,573,712

DEFERRED OUTFLOWS OF RESOURCES 5,745,614 5,918,434 7,200,940

LIABILITIESCurrent (payable from unrestricted assets) 5,548,478 7,063,124 4,654,674 Current (payable from restricted assets) 9,440,311 9,721,183 9,733,622 Noncurrent liabilities 80,546,559 81,509,179 90,548,839

Total Liabilities 95,535,348 98,293,486 104,937,135

DEFERRED INFLOWS OF RESOURCES 834,964 776,520 888,721

NET POSITIONNet investment in capital assets 165,750,195 170,626,920 171,751,795 Restricted 25,445,164 21,191,423 19,387,387 Unrestricted 20,783,643 18,636,175 16,809,614

Net Position 211,979,002$ 210,454,518$ 207,948,796$

FINANCIAL POSITION SUMMARY The Statements of Net Position depict the Authority’s financial position as of one point in time – June 30 – and reflects the residual difference between all assets, deferred outflows of resources, liabilities and deferred inflows of resources of the Authority. Net position represents the residual interest in the Authority’s assets after deducting liabilities. The Authority’s net position was $212.0 million at June 30, 2017, a $1.5M increase from December 31, 2016. A condensed summary of the Authority’s total net position at June 30, 2017 and December 31, 2016 and 2015 is set forth below:

Net position is comprised of three components as follows: Investment in capital assets (e.g., land, buildings, improvements, and equipment), less the related indebtedness outstanding used to acquire those capital assets, represents the largest portion of the Authority’s net position (78.2% at June 30, 2017). The Authority uses these capital assets to provide services to the airlines, passengers and to service providers and users located at the Airport; consequently, these assets are not available for future spending. Although the Authority’s net investment in capital assets is net of related debt, the resources required to repay this debt annually are paid from operations, since it is unlikely that the capital assets will be liquidated to pay liabilities. Restricted net position (12.0% at June 30, 2017), principally representing bond reserves and PFC funds, are restricted as to use pursuant to bond resolutions and Federal regulations. The restricted component of net position consists of restricted assets reduced by liabilities and deferred inflows of resources related to those assets.

9

Budget Actual Actual2017 2016 2015

Landing Fees (per 1,000 lbs. MGLW) 3.13$ 2.73$ 3.27$ Terminal Rental Rate (per square foot) 80.78$ 81.11$ 74.63$ Apron Fees (per square foot) 1.36$ 1.19$ 1.52$ Loading Bridge (annual rate) 38,898$ 40,383$ 44,761$ Airline Airport Cost per Enplanement 6.74$ 6.00$ 7.12$ Revenue Sharing Credit 2,214,927$ 3,137,355$ 1,683,274$

Unrestricted net position totaling $20.8 million (9.8% at June 30, 2017) are available to meet any of the Authority’s ongoing obligations. The unrestricted component of net position is the net amount of the assets, deferred outflows of resources, liabilities and deferred inflows of resources that are not included in the determination of net investment in capital assets or the restricted component of net position. AIRLINE SIGNATORY RATES AND CHARGES The Authority and airlines entered into a Use and Lease Agreement (“Agreement”) effective January 1, 2016 for five years, with an option for a five-year renewal, which establishes how the airlines that signed the Agreement will be assessed annual rates and charges for their use of the Airport. In the Agreement, signatory airlines have the option to designate some or all of their affiliate carriers as signatory airlines. This entitles the affiliates to signatory rates and charges for use of the Airport. As of June 30, 2017, signatories in the Agreement include six commercial, sixteen affiliate carriers and two cargo airlines. The Agreement with the signatory airlines is based on a hybrid rates and charges methodology. A residual cost methodology is used for the airfield and a commercial rental rate methodology for the terminal. The apron charge is based on a 10% allocation of total airfield costs and loading bridge rental rates is based on total actual operating costs for all the loading bridges. The resulting funds remaining each year are split fifty/fifty between the Authority and the signatory airlines. Each year the Authority prepares and issues an actual airline rates and charges analysis report in accordance with the Agreement and financial statements prepared in accordance with GAAP as audited by independent public accountants as of December 31. The Authority has the ability under the Agreement to adjust airline rates and charges at any time throughout the year to ensure adherence to all financial covenants in its bond resolutions. The Authority can impose a “Capital Charge Coverage” equal to 25% of its required debt service and also apply the Airline Share of Revenue sharing to meet debt service coverage if needed. Capital Charge Coverage provides for revenues less expenses, to be not less than one-hundred twenty-five percent (125%) of annual debt service. If needed to meet debt service coverage, the Airline Revenue Sharing is first suspended. The Authority may also impose “Extraordinary Coverage Protection”, if necessary to meet the covenant debt service coverage ratio. The final rates and charges, after all year-end settlement adjustments and the revenue sharing allocations in accordance with the definitions and formulas contained in the Agreement with the signatory airlines are as follows:

10

2017 2016 2015Cash flows from:

Operating Activities 7,117,841$ 8,343,804$ 5,718,112$ Non Capital Financing Activities 68,780 142,262 144,800 Investing Activities 15,190 12,747 16,064 Capital and related financing activities (1,902,001) (47,775) (1,579,960)

Net increases in cash and cash equivalents 5,299,810 8,451,038 4,299,016

Cash and Cash Equivalents:Beginning of period 48,024,342 40,138,544 37,907,189 End of period 53,324,152$ 48,589,582$ 42,206,205$

2017 2016 2015Funds available for unrestricted operations 23,369,707$ 20,470,553$ 17,327,272$ Restricted for:

Capital Projects 4,373,581 3,635,804 2,705,479 PFCs available for debt service payments 9,131,073 7,390,417 5,817,720 Revenue bond reserves 15,518,528 15,983,777 15,323,079 Other restrictions 931,263 1,109,031 1,032,655

Total 53,324,152$ 48,589,582$ 42,206,205$

CASH MANAGEMENT POLICIES AND CASH FLOW ACTIVITIES All cash receipts are initially deposited daily into collateralized or insured bank accounts. After initial deposit of receipts, all funds are transferred to various segregated bank accounts comprising the various funds defined in the Authority’s Master Bond Resolution. The Authority’s temporarily idle cash is maintained in collateralized or insured bank accounts consistent with the Authority’s liquidity, available short-term investment opportunities, and desired level of risk. The Authority’s maintains some debt service reserves in United States Treasury obligations. All deposits and investments are in compliance with the laws of the State and the Cash Management and Investment Policy adopted by the Authority. Cash equivalents represent cash-on-hand, bank deposits and liquid investments with a maturity of three months or less. The following shows a summary of the major sources and uses of cash and cash equivalents for the first six months of 2017, 2016 and 2015:

The Authority’s available cash and cash equivalents increased during the first six months of 2017 by $5,299,810 primarily due to the positive flow of funds from operating activities and PFCs received. Cash and cash equivalents as of June 30, 2017, 2016 and 2015 are composed of:

11

Total 2015- Total Plan2019 Plan Through 6-30-17

Approved ProjectsAirfield 34,520,000$ 6,257,175$ Terminal 14,000,000 4,954,598 Landside 60,000,000 13,438,783 Major Equipment 12,000,000 1,994,869 Total 120,520,000$ 26,645,425$

Projected Funding SourcesFederal Funds 61,020,000$ 13,771,220$ State Funds 6,250,000 4,891,783 Debt Issuances 34,500,000 - Authority Funds 18,750,000 7,982,422 Total 120,520,000$ 26,645,425$

CAPITAL ACTIVITIES The enabling legislation creating the Authority set forth that every five years the Authority must submit to the County legislature for approval a capital plan for the subsequent five year period. The plan for 2015 – 2019 was approved by the County on December 1, 2014. The original plan provided for total spending of up to $120.5 million over five years of which $61 million is eligible for 95% grant funding. On May 8, 2017, the County of Albany approved an amendment to the capital plan to reallocate certain projects and increase total authorized by $22 million to a new total of $142.5 million. The plan does not represent a firm commitment of the Authority. The Authority has included every known possible project that could conceivably occur during the five year period for disclosure purposes. During the remainder of the 2014-2019 capital plan, as amended, the Authority may issue additional debt for projects not eligible for grant funding. There is no assurance that future Federal or State grant funds will be awarded to the Authority as anticipated in the plan. At June 30, 2017, the Authority has $7.2 million outstanding capital commitments. Approved Projects requiring additional financing in the plan are very likely to be deferred. The following is a summary of the approved 2015 – 2019 capital plan including the activity through June 30, 2017: LONG-TERM DEBT ADMINISTRATION The Authority issued Airport Revenue Bonds to provide funds for the acquisition and construction of major capital facilities. Airport Revenue Bonds are direct obligations and are pledges by the full faith and credit of the Authority. Certain outstanding bonds may be redeemed prior to their normal maturity dates in accordance with the terms of the related bond indentures. The Authority has never defaulted on any principal or interest payments. In accordance with Section 2785 of the New York Public Authorities Law, the Authority may issue Bonds, Notes and Other Obligations up to $285 million outstanding at any time plus certain amounts issued for refunding purposes. The total Authority principal debt outstanding at June 30, 2017 for General Airport Revenue Bonds (GARB) was $86,121,000 as compared to 88,216,000 as of December 31, 2016. The

12

Outstanding OutstandingIssued at 12-31-16 at 6-30-17

Authority Revenue Bonds1999 NYS EFC 7,895,303$ 1,546,000$ 1,546,000$ 2003 GARB Series A 8,885,000 2,685,000 - 2006 GARB Series A & B 14,230,000 8,795,000 - 2006 GARB Series C 6,330,000 5,010,000 - 2010 Refunding Series A & B 109,855,000 70,180,000 70,180,000 2017 Refunding Series A & B 14,395,000 - 14,395,000

Total Authority Debt Obiligations 147,195,303$ 88,216,000$ 86,121,000$

Outstanding Outstandingat 12-31-16 Additions Deletions at 6-30-17

Authority Revenue Bonds/Debt ObligationsBonds Payable

1999 NYS EFC 1,546,000$ -$ -$ 1,546,000$ 2003 GARB Series A 2,685,000 - (2,685,000) - 2006 GARB Series A & B 8,795,000 - (8,795,000) - 2006 GARB Series C 5,010,000 - (5,010,000) - 2010 Series A Refunding 70,180,000 - - 70,180,000 2017 Series A & B Refunding - 14,395,000 - 14,395,000

Total Bonds Payable 88,216,000 14,395,000 (16,490,000) 86,121,000Deferred Loss on Refunding (4,862,137) (412,455) 585,278 (4,689,314) Unamortized Premiums/Discounts 1,483,693 1,431,250 (298,869) 2,616,074

Net Bonds Payable 84,837,556 15,413,795 (16,203,591) 84,047,760

aggregate par amount of bonds issued by the Authority and bond related debt owed to the County of Albany outstanding as of June 30, 2017 and December 31, 2016 is summarized in the following table: In the table above, the bonds and debt obligation are presented on a stated par-amount basis. Under generally accepted accounting principles certain items associated with the debts above are deferred and amortized into future periods by subtracting or adding the deferred items to the stated par amounts outstanding and expensing those deferred items in future periods as the debt matures using a systematic and rational method that conforms with generally accepted accounting described in Note 2 to the Financial Statements. The reported amount of bonds issued by the Authority that was outstanding as of December 31, 2016, additions and/or deletions during the first six months of 2016, and the balances reported at June 30, 2017 with adjustments to the reported value required by generally accepted accounting principles is summarized in the following table:

REFUNDING BONDS ISSUED IN 2017 On March 30, 2017 the Authority completed the marketing and pricing for the sale of its Series 2017 Bonds in the total par amount of $14,395,000 of which $7,795,000 were sold as Series 2017A Non-AMT (not subject to any Federal Tax) and Series 2017B AMT (subject to the Federal Alternative Minimum Tax). The Series 2017 Bonds were used, along with other funds of the Authority, to fully refund the Authority’s Series 2003A, Series 2006A, Series 2006B, and Series 2006C Bonds in the aggregate amount of $16,490,000 (the Refunded Bonds).

13

2017 12,473,491$ 2024 9,600,881$ 2031 358,862$ 2018 12,966,335 2025 9,594,631 2032 363,056 2019 10,385,696 2026 9,608,463 2033 361,451 2020 9,686,381 2027 1,089,575 2034 253,800 2021 9,694,381 2028 1,096,950 2035 244,400 2022 9,699,881 2029 1,084,925 2023 9,707,881 2030 1,085,431

Year/Debt Service

At June 30, 2017 the Authority maintained debt service reserve funds in the amount of $10.7 million and Passenger Facility Charge Funds in the amount of $9.1 million, both of which are restricted to repayment of debt. Thus, the Authority’s direct obligations outstanding, net of funds restricted for the repayment of debt, was $66.3 million in aggregate par amount of bonds outstanding. The graph and table below presents combined annual debt service to maturity as of June 30, 2017: PASSENGER FACILITY CHARGE (PFC) The Authority initially received approval from the FAA to impose a PFC of $3.00 per enplaned passenger beginning March 1, 1994, not to exceed $40,726,364, principally to finance the Terminal Improvement Program. During 1996, the Authority requested and received approval to increase the amount of PFCs to $116,888,308 to be collected through the year 2022. Effective September 1, 2009, the Authority implemented an approved change in the PFC collection from $3.00 per passenger to $4.50 per passenger, with a current estimated collection period through 2020. Through June 30, 2017, the Authority has collected PFCs, including interest earnings thereon, totaling $95,565,600, or 81.8% of the total authorized. Passengers pay PFCs on the first two and last two portions of any trip. No PFCs are collected from non-revenue passengers such as a passenger using a frequent flier award ticket. The Authority calculates that it

14

Moody's/Fitch/S&P Moody's/Fitch/S&PSeries * Bond Insurer Enhanced Rating Underlying Rating

Series 2010A AGMC A2/NR/AA A3/A-/A-2017A uninsured N/A A3/A-/A-2017B uninsured N/A A3/A-/A-

* Not all maturities within a Series are insured.NR = Not Rated

is collecting PFCs on approximately 86.7% of its enplanements. Additional information about PFC activity can found under “Note 2 – Summary of Significant Accounting Policies” in the Notes to the Financial Statements. CREDIT RATINGS AND BOND INSURANCE

The table below presents the enhanced and underlying ratings on each of the Authority’s outstanding bonds. Fitch Ratings has withdrawn its insured rating of all bonds insured by AGMC effective February 25, 2010. Moody’s lowered their rating of AGMC from “A3” to “A2” on January 17, 2013. Standard and Poor’s upgraded their enhanced rating of AGMC from “AA-” to “AA” on March 18, 2014. On March 24, 2017, Standard and Poor’s raised the Authority’s underlying credit rating from “BBB+” to “A-“. The Authority’s underlying credit ratings are: Moody’s Investors Service “A2”, Fitch Ratings “A-” and Standard and Poor’s “A-”. RESERVES AND DEBT SERVICE COVERAGE Under the Authority’s master bond resolution adopted in 1997, it is required to maintain an operating reserve equal to two months operating expenses. At June 30, 2017 the reserve requirement was $5.6 million and for which the Authority had $11.5 million on hand. The Authority also had $11.0 million in its airport Development Fund which can be used to restore a deficiency in any other fund and it had a repair and replacement reserve fund of $500,000. Also provided for in the bond resolution for each bond issue, the Authority maintains debt service reserve funds. As of June 30, 2017 the debt service reserve funds totaled $10.7 million. FINANCIAL STATEMENTS The Authority’s financial statements are prepared on an accrual basis of accounting in accordance with generally accepted accounting principles promulgated by the Governmental Accounting Standards Board (GASB). The Authority operates as a single enterprise fund with revenues recognized when earned, not when received. Expenses are recognized when incurred, not when they are paid. Capital assets are capitalized and (except land) are depreciated over their estimated useful lives. Certain funds are reported as restricted based upon constraints placed on their use by contributors, grantors and debt covenants. See the Notes to the Financial Statements for a summary of the Authority’s significant accounting policies.

15

REQUEST FOR INFORMATION The Authority’s basic financial statements are designed to provide detailed information on the Authority’s operations and to the Authority’s Board, management, investors, creditors, customers and all others with an interest in the Authority’s financial affairs and to demonstrate the Authority’s accountability for the assets it controls and the funds it receives and expends. Questions concerning any of the information provided in this report or any request for additional information should be addressed to the Chief Financial Officer by e-mail: [email protected] or in writing to, Albany County Airport Authority, Administration Building, Suite 204, Albany, NY 12211-1057. Respectfully submitted, William J. O’Reilly, CPA Chief Financial Officer

16

June 30, 2017 December 31, 2016ASSETS

CURRENT ASSETSUnrestricted Assets:

Cash and cash equivalents 23,369,707$ 22,020,622$ Accounts receivable - net 1,914,552 2,076,893 Due from County of Albany - 262,136 Prepaid expenses 440,826 678,418

Total Unrestricted Assets 25,725,085 25,038,069

Restricted Assets:Capital Funds:

Cash and cash equivalents 4,373,581 4,735,041 Grant funds receivable 67,169 869,839

Passenger Facility Charge Funds:Cash and cash equivalents 9,131,073 8,692,358 Passenger Facility Charges receivable 489,467 489,467

Revenue Bond Funds:Cash and cash equivalents 15,518,528 11,703,502 Investments 277,389 277,389 Accrued interest receivable 1,809 1,809

ANCLUC Funds:Cash and cash equivalents 196,857 196,857

Concession Improvement Funds:Cash and cash equivalents 734,406 675,962

Total Restricted Assets 30,790,279 27,642,224

Total Current Assets 56,515,364 52,680,293

NON-CURRENT ASSETSBond Insurance Premiums 407,238 553,285 Net Assets held in trust for OPEB 161,937 216,131 Prepaid expenses 286,843 286,843 Capital Assets:

Land and easements 48,005,527 48,005,527 Buildings, improvements and equipment,

net of depreciation 192,631,003 199,684,753 Construction in progress 4,595,788 2,179,258

Total Capital Assets 245,232,318 249,869,538 Total Non-Current Assets 246,088,336 250,925,797

Total Assets 302,603,700 303,606,090

DEFERRED OUTFLOWS OF RESOURCESRefunding 4,689,314 4,862,134 Pension Expenses 1,056,300 1,056,300

Total Deferred Outflows of Resources 5,745,614 5,918,434

Albany County Airport AuthorityStatements of Net Position

As of June 30, 2017 and December 31, 2016

17

June 30, 2017 December 31, 2016LIABILITIES AND NET POSITION

CURRENT LIABILITIESPayable from Unrestriced Assets:

Accounts payable 273,017$ 594,249$ Accrued expenses 5,187,976 6,468,875 Due to Albany County 87,485 -

Total Payable from Unrestricted Assets 5,548,478 7,063,124

Payable from Restricted Assets:Construction contracts payable - 332,956 Construction contract retainages 141,677 230,268 Accrued interest payable 169,959 169,959 Accrued Principal & Interest 140,675 - Current maturities of long - term debt 8,988,000 8,988,000

Total Payable From Restricted Assets 9,440,311 9,721,183

Total Current Liabilities 14,988,789 16,784,307

NON-CURRENT LIABILITIESBonds and other debt obligations 79,749,073 80,711,693 Net pension liability - proportionate share 797,486 797,486

Total Non-Current Liabilities 80,546,559 81,509,179

Total Liabilities 95,535,348 98,293,486

DEFERRED INFLOWS OF RESOURCESConcession Improvement funds 734,406 675,962 Pension 100,558 100,558

Total Deferred Inflows of Resources 834,964 776,520

NET POSITIONNet investment in capital assets 165,750,195 170,626,920

Restricted:Bond reserve funds 15,627,767 11,812,741 Passenger facility charge funds 9,620,540 9,181,825 Other restricted funds 196,857 196,857 Total Restricted: 25,445,164 21,191,423

Unrestricted 20,783,643 18,636,175

Net Position 211,979,002 210,454,518

Albany County Airport AuthorityStatements of Net Position


18

Albany County Airport AuthorityStatements of Revenues, Expenses and Changes in Net Position

For the Six Months Ended June 30, 2017 and June 30, 2016

June 30, 2017 June 30, 2016Operating Revenues

Airfield 3,639,702$ 3,661,021$ Fixed Based Operations 4,130,465 3,861,103 Terminal 3,416,805 3,179,311 Concessions 3,456,227 3,300,772 Ground transportation 8,234,671 8,064,894 Other revenue 2,197,867 1,993,358 Total Operating Revenues 25,075,737 24,060,459

Operating ExpensesAirfield 1,666,452 1,283,445 Fixed Based Operations 3,261,808 2,948,825 Terminal 2,788,532 2,472,796 Loading bridges 137,044 86,808 Landside 2,630,402 2,308,561 Public safety 1,893,862 1,795,235 Aircraft Rescue and Fire Fighting 916,486 1,017,176 Vehicle maintenance 715,528 609,983 Administration 3,074,129 2,884,470 Total Operating Expenses 17,084,243 15,407,299

Revenues in excess of expenses before depreciation 7,991,494 8,653,160

Depreciation 7,053,750 6,800,000

Income Before Non-Operating Income and Expenses 937,744 1,853,160

Non-Operating Income and (Expenses)Passenger Facility Charges 2,604,871 2,626,002 Grant income 68,780 142,263 Improvement charges 184,200 184,200 Interest income 6,387 5,679 Interest expense (2,331,929) (2,508,094) Amortization of bond insurance premiums (38,140) (50,174) Air Service Incentive Program (75,270) (495,808) Total Non-Operating Income and (Expenses) 418,899 (95,932)

Income before Capital Contributions 1,356,643 1,757,228

Capital Contributions 167,841 318,460

Net PositionIncrease in Net Position 1,524,484 2,075,688

Net Position, Beginning of Year 210,454,518 207,948,796 Net Position, End of Year 211,979,002$ 210,024,484$

19

Albany County Airport AuthorityStatements of Cash Flows


June 30, 2017 June 30, 2016Cash Flows From Operating Activities

Cash received from providing services 25,238,078$ 25,464,323$ Cash paid to suppliers (17,506,792) (16,534,260) Cash paid to employees (613,445) (586,259)

Net Cash Provided By Operating Activities 7,117,841 8,343,804

Cash Flows From Noncapital Financing ActivitiesGrant income 68,780 142,262

Net Cash Provided By Noncapital Financing Activities 68,780 142,262

Cash Flows From Investing ActivitiesInterest received 6,387 5,679 Interest on passenger facility charges 8,803 7,068

Net Cash Provided by Investing Activities 15,190 12,747

Cash Flows From Capital and Related Financing ActivitiesPurchase of property and equipment (2,838,075) (1,630,447) Payments to refunding agent (16,794,552) - Proceeds from issuance of bonds 15,826,250 - Cost of issuance (280,613) - Interest paid (1,624,234) (2,195,535) Concession improvement funds 58,444 23,453 Improvement charges 184,200 184,200 Capital Grants 970,511 951,620 Passenger facility charges 2,596,068 2,618,934

Net Cash Used By Capital and Related Financing Activities (1,902,001) (47,775)

Net Increase in cash and cash equivalents 5,299,810 8,451,038

Cash and cash equivalents, beginning of year 48,024,342 40,138,544

Cash and cash equivalents, end of year 53,324,152$ 48,589,582$

Reconciliation of Operating Loss to Net Cash Provided By Operating Activities:Income before non-operating income and expenses 937,744$ 1,853,160$ Adjustments to reconcile loss from operations to net cash provided by operating activities:

Depreciation 7,053,750 6,800,000 Decrease in assets: Accounts receivable 162,341 1,403,864 Due from County of Albany 262,136 292,593 Net Assets held in trust for OPEB 54,194 48,192 Prepaid expenses 237,592 425,129 Increase/(Decrease) in liabilities: Due to County of Albany 87,485 29,174 Accounts payable and accrued expenses (1,677,401) (2,508,308)

Net Cash Provided By Operating Activities 7,117,841$ 8,343,804$

Noncash Capital and Related Financing Activities:Capital Assets and related receivables 802,670$ 633,160$ Total Noncash Capital and Related Financing Activities 802,670$ 633,160$

20

June 30, 2017 December 31, 2016

ASSETSCash and cash equivalents 1,901,832$ 1,900,888$

Total Assets 1,901,832 1,900,888

DEFERRED OUTFLOWS OF RESOURCES - - Total Deferred Outflows of Resources - -

LIABILITIES - - Total Liabilities - -

DEFERRED INFLOWS OF RESOURCES - - Total Deferred Inflows of Resources - -

NET POSITIONNet Position - Restricted for OPEB 1,901,832$ 1,900,888$

Albany County Airport Authority OPEB TrustStatements of Fiduciary Fund Net Position


21

June 30, 2017 June 30, 2016Additions to Net Position Attributed to:

ContributionsEmployer -$ -$ Interest Income 944 904

Total Additions 944 904

Deductions from Net Position Attributed to:Retirement benefits - - Administrative expenses - -

Total Deductions - -

Increase in Net Position 944 904

Net Position - Restricted for OPEB, Beginning of Year 1,900,888 1,812,329

Net Position - Restricted for OPEB, End of Year 1,901,832$ 1,813,233$

Albany County Airport Authority OPEB TrustStatements of Changes in Fiduciary Fund Net Position


22

ALBANY COUNTY AIRPORT AUTHORITY

Notes to Financial Statements

June 30, 2017

NOTE 1 - Organization and Reporting Entity Organization: The Albany County Airport Authority (Authority), a body corporate and politic, constituting a public benefit corporation, was established by the State of New York (State) August 4, 1993, pursuant to the provisions of Chapter 686 of the Laws of 1993 as set forth in Title 32 of the State’s Public Authorities Law. As a public benefit corporation, the Authority is independent, distinct from, and not an agent of the State or any other of the State’s political subdivisions, including the County of Albany (County). The Authority consists of seven members, four appointed by the majority leader of the County Legislature and three by the County Executive, who jointly designate one of the seven members as chairperson, and all with approval of the County Legislature. The Authority members serve for a term of four years or until their successor is appointed, except that any person appointed to fill a vacancy will be appointed to serve only the unexpired term. Members of the Authority are eligible for reappointment. On March 15, 1994, the Authority and the County entered into an Interim Agreement, whereby the County granted, and the Authority accepted, sole possession, use, occupancy and management of the Albany International Airport (Airport), including all rights, interest, powers, privileges and other benefits in each and every contract relating to the maintenance, operation, leasing, management or construction of the Airport, and all other rights, privileges or entitlement necessary to continue to use, operate and develop the Airport. The Authority and the County entered into a permanent Airport Lease Agreement, dated December 5, 1995, which upon its approval by the Federal Aviation Administration (FAA) became effective on May 16, 1996 for a term of forty (40) years, whereby the Authority has the exclusive right to operate, maintain and improve the Airport and do anything else permitted by law, subject only to the restrictions and conditions stated in such Airport Lease Agreement and in accordance with applicable Federal, State and local laws. Pursuant to the State enabling Legislation, the Authority may not undertake any capital project (see Note 15), other than the redevelopment project described in the enabling legislation, known as the Terminal Improvement Program, unless the project has first been approved by the County as part of a five-year Capital Improvement Program. For these purposes, the term “capital project” is defined as the construction, reconstruction or acquisition of airport or aviation facilities. Prior to March 15, 1994, the Airport operated as a fund of the County. As of March 15, 1994 the County transferred the use of all assets and substantially all liabilities of the County’s Airport Enterprise Fund to the Authority. These assets and liabilities were recorded by the Authority at a Net Asset value equal to $46,824,500.

23

The Authority is not subject to Federal, State or local income, property or sales taxes, except for property taxes due on properties acquired by the Authority until they are removed from the tax rolls as of the next assessment date. However, the Authority may agree to make certain payments in lieu of taxes for real property owned or used by the Authority for purposes other than public aviation purposes and under other limited circumstances. The Authority has contracted with AFCO AvPorts Management LLC, (d/b/a Avports), to manage the daily operations of the airport under a three year term expiring December 31, 2018. The Authority has also contracted with REW Investments, Inc., (d/b/a Million Air), to manage the fixed based operations of the airport under a three year term expiring August 31, 2019. Both agreements are renewable with the approval of both parties. Reporting Entity: The Authority meets the criteria set forth in generally accepted accounting principles as promulgated by the Governmental Accounting Standards Board (GASB) for inclusion as a component unit within the County’s basic financial statements based on the County’s responsibility for the appointment of the Authority members, and their approval of capital programs and certain debt issuances. As such, the Authority is included in the County’s basic financial statements. The accompanying financial statements present the financial position and the changes in net position and cash flows of the Authority only. The Authority is not involved in any joint ventures.

The Authority has established a written, single employer, defined benefit plan to provide healthcare benefits to eligible former employees and/or their qualifying dependents. The Authority also established a legally separate trust known as the Albany County Airport Authority OPEB Trust to receive and manage contributions from the Authority to fund its obligations for retiree health care benefits under the written plan. The Albany County Airport Authority OPEB Trust is included in the Authority’s financial statements as a separate Fiduciary Fund of the Authority under accounting principles promulgated by GASB. NOTE 2 - Summary of Significant Accounting Policies Basis of Accounting: The accompanying financial statements have been prepared in conformity with generally accepted accounting principles (GAAP) for state and local governments. GASB is the accepted standard-setting body for establishing governmental accounting and financial reporting principles for state and local governments in the United States of America. The Authority’s operations are presented as a single enterprise fund. Enterprise funds distinguish operating revenues and expenses from non-operating items in accordance with the flow of economic resources measurement focus and the accrual basis of accounting. All assets, liabilities, net position, revenues, and expenses are accounted for through a single enterprise fund with revenues recorded when earned and expenses recorded at the time liabilities are incurred. Revenues from airlines, FBO operations, concessions, property rentals, operating permits, and parking fees are reported as operating revenues. All expenses related to operating the Airport are reported as expenses. Passenger facility charges, noncapital grants, capital improvement charges, interest and investment income

24

are reported as non-operating income. Interest expense, financing costs and grant expenses are reported as non-operating expenses. Capital contributions, special and extraordinary items are reported separately after non-operating revenues and non-operating expenses. Cash, Cash Equivalents and Investments: The deposit and investment of Authority monies is governed by provisions in its enabling legislation and by a Cash Management and Investment Policy adopted by the Authority on September 13, 1994 and last amended March 23, 2015. Any bank or trust company with a full service office in the County is authorized for the deposit of monies. Monies not needed for immediate expenditure may be invested in (1) United States Treasury obligations with maturities of seven years or less, (2) obligations backed by the United States Government full faith and credit, (3) New York State, New York State agency or New York State subdivisions (cities, towns, villages, counties) obligations with, (4) certificates of deposit fully collateralized from a bank or trust company in New York State, (5) notes, bonds, debentures, mortgages and other evidences of indebtedness of certain agencies sponsored by the United States government provided at the time of investment such agency or its obligations are rated and the agency receives, or its obligations receive, the highest rating of all independent rating agencies that rate such agency or its obligations, and (6) repurchase agreements using United States Treasury obligations with maturities of seven years or less. Investments are stated at fair value or amortized cost. For purposes of the statement of cash flows, the Authority considers all highly liquid investments (including restricted assets) with an original maturity of three months or less when purchased to be cash equivalents. Cash equivalents, which are stated at cost, consist of certificates of deposit, and treasury notes. Investments are reported at fair value. Receivables: Receivables are reported at their gross value when earned and are reduced by the estimated portion that is expected to be uncollectible. The allowance for uncollectible amounts is based on collection history, aviation industry trends and current information regarding the credit worthiness of the tenants and others doing business with the Authority. When continued collection activity results in receipt of amounts previously written off, revenue is recognized for the amount collected. Restricted Assets: Restricted assets consist of monies and other resources which are restricted legally as described below: Capital Funds - These assets represent capital debt proceeds and grant funds that are restricted for designated capital projects and cannot be expended for any other item. Passenger Facility Charges Funds - These assets represent Passenger Facility Charges (PFC) collections based on an approved FAA application to “Impose” such charges on enplaned passengers at the Airport. These funds are restricted for designated capital projects and any debt incurred to finance the construction of those projects. The Authority recognizes and reports as other income PFCs earned when all conditions have been met that entitles the Authority to retain the PFCs. PFCs received prior to this time are reported as restricted net position.

25

Revenue Bond Funds - These assets represent Series 2003, 2006 and 2010 general airport revenue bond (GARB) proceeds and Series 1999 Environmental Facilities Corporation (EFC) bond proceeds held in Bond Reserve Accounts. Bond reserve accounts for the Series 2010 Bonds equal 125% of the average annual debt service due on bonds at the time of issuance. Bond Reserve Accounts on the Series 1999 Bonds through Series 2006 Bonds equal the maximum annual amount of principal and interest payments due on the bonds. ANCLUC Funds - These assets represent Airport Noise Control and Land Use Compatibility (ANCLUC) program funds. These Airport funds were generated through the sale or rental of airport noise abatement properties acquired with Federal and State aid and interest earnings thereon. The use of such revenues is restricted to Airport Improvement Program eligible project costs contingent upon FAA concurrence. Concession Improvement Funds - These assets represent 1% of gross revenues of all food and beverage and retail concessions held in escrow to potentially fund the planning, developing, construction, remodeling, renovating or replacing of any of the concessionaire’s leased area during the term of the concession agreement. Use of the funds during the term of the lease is subject to the Authority’s sole approval. Funds remaining at the end of a concession agreement are retained by the Authority. Capital Assets: Capital assets include land, improvements to land, easements, buildings, building improvements, vehicles, equipment and all other tangible assets that are used in operations and have useful lives extending beyond a single reporting period. Capital Assets assumed by the Authority on March 15, 1994 are carried at historical cost, net of accumulated depreciation. Acquisitions of new assets costing $50,000 or more are recorded at cost. Maintenance and repairs are expensed as incurred. When depreciable assets are disposed of, the related costs and accumulated depreciation are removed from the respective accounts and any gain or loss on disposition is credited or charged to an expense. Capital Assets are written off when fully depreciated unless clearly identified as still being in use. Capital Assets are written-down due to impairment if circumstances indicate a significant or unexpected decline in an assets service utility has occurred. Impaired Capital assets are written down using an approach that best reflects the decline in service utility. Assets to be disposed of and assets held for sale are reported at the lower of carrying value or fair value less costs to dispose of. Depreciation of capital assets is computed using the straight-line method at various rates considered adequate to allocate costs over the estimated useful lives of such assets. The estimated lives by general classification are as follows: Years Buildings and improvements ................................ 5-30 Vehicles, machinery and equipment .................... 5-15

26

Capitalization of Interest: Interest costs incurred that relate to the acquisition or construction of capital assets acquired with tax-exempt debt are capitalized. The amount of interest to be capitalized is calculated by offsetting interest expense incurred from the date of the borrowing until completion of the project, with interest earned on invested debt proceeds over the same period. Capitalized interest cost is prorated to completed projects based on the completion date of each project. No interest was capitalized in 2016 or 2015. Bond Issue Costs, Original Issue Discount and Deferred Loss on Bond Refundings: Bond insurance (an issuance cost) is deferred and amortized over the life of the respective issue on an effective interest method. Original issue discounts and deferred loss on refundings on long-term indebtedness are amortized using the effective interest method over the life of the debt to which it relates. Interest on capital appreciation debt is accreted using the effective interest method. Capital Contributions: Certain expenditures for Airport capital assets are significantly funded through the Airport Improvement Program (AIP) of the Federal Aviation Administration (FAA), with certain matching funds provided by the State and the Authority, or from various State allocations or grant programs. Capital funding provided under government grants is considered earned as the related allowable expenditures are incurred. Grants for capital asset acquisition, facility development and rehabilitation and eligible long-term planning studies are reported in the Statements of Revenues, Expenses and Changes in Net Position, after other income and expenses, as capital contributions. Revenue Recognition: Airfield Landing Fee Charges - Landing fees are principally generated from scheduled airlines, cargo carriers and non-scheduled commercial aviation and are based on the gross landed weight of the aircraft. The estimated landing fee structure is determined annually pursuant to an agreement between the Authority and the signatory airlines based on the adopted operating budget of the Authority and is adjusted at year end for the actual landed weight of all aircraft. Landing fees are recognized as revenue when the related facilities are utilized. FBO, Terminal Rents, Concessions and Ground Transportation - FBO revenues are generated from commercial and general aviation users, rental and concession fees are generated from airlines, parking lots, food and beverage, retail, rental cars, advertising and other commercial tenants. Leases are for terms from one to ten years and generally require rentals based on the volume of business, with specific minimum annual rental payments required. Rental revenue is recognized over the life of the respective leases and concession revenue is recognized based on reported concessionaire revenue. Other - All other types of revenues are recognized when earned.

27

Special Items and Extraordinary Items: Special Items - Special items are significant transactions or other events within the control of management that are either unusual in nature or infrequent in occurrence. The Authority did not report any Special Items during the 2017 fiscal year through June 30, 2017 or in fiscal year 2016. Extraordinary Items - Extraordinary items are transactions or other events that are both unusual in nature and infrequent in occurrence. The Authority did not report any Extraordinary Items during the 2017 fiscal year through June 30, 2017 or in fiscal year 2016. Passenger Facility Charges: Passenger Facility Charges (PFC) at the rate of $3 per enplaned passenger have been levied by the Airport since March 1, 1994 under an FAA approved application to impose $40,726,364 with collection thereof estimated to be complete in the year 2005. During 1996, the Authority received approval to increase the amount of PFC collections to $116,888,308 extending the estimated collection period through the year 2022. In 2009, the Authority received approval to change the PFC collection from $3.00 per passenger to $4.50 per passenger, with a current estimated collection period through 2020. Through June 30, 2017, the Authority has collected PFCs including interest earnings thereon totaling $95,565,600. PFC funds, along with related interest earnings, are recorded as restricted net position until they are applied against future debt service payments under an FAA approved Application to Use. PFC receipts are recognized and recorded as non-operating revenues in the year they are collected. The Authority previously expended $11.2 million of PFCs on projects funded on a pay-as-you-go basis. The Authority also covenanted in the Resolution authorizing the Series 2010A Refunding Bonds to apply future PFC collections to pay a portion of the debt service related to the FAA approved projects included in the Applications. Pursuant to the Resolution, PFCs collected and deposited in a segregated account, together with the interest earned thereon, are applied towards the subsequent debt service payments reducing the amount of debt to be funded from net operating revenue. Through June 30, 2017, the Authority has applied $81.8 million of PFC’s towards the payment of debt service. Compensated Absences: Employees accrue vacation in varying amounts based on length of service. Employees can accumulate up to 300 hours, or 37.5 days of vacation time. Unused vacation time can be liquidated for cash upon separation, retirement or death. Sick leave is earned by regular, full-time employees at the rate of one day per month. Employees can accumulate up to 1,320 hours or 165 days of sick leave. Any sick leave hours unused at the time of an employee’s retirement can be applied as additional service credit in calculating retirement benefits in the New York State Employees’ Retirement System. It is the policy of the Authority not to pay accumulated sick leave to employees who terminate prior to retirement. The liability for compensated absences earned through year-end, but not yet taken, is accrued by charging the expense for the change in the liability from the prior year.

28

Pension Plan: The Authority applies GASB Statement No. 68, Accounting and Financial Reporting for Pensions (GASB 68) to recognize the net pension asset (liability), deferred outflows and deferred inflows of resources, pension expense (revenue), and information about and changes in the fiduciary net position on the same basis as reported by the cost-sharing, multiple employer, defined benefit pension plan. The Authority also applies GASB Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date (GASB 71) to report additional deferred outflows. The Authority participation in the plans is mandated by State law and includes the New York State and Local Employees’ Retirement System (ERS) and the Optional Voluntary Defined Contribution (VDC) (the Systems). The Systems recognize benefit payments when due and payable in accordance with benefit terms; investment assets are reported at fair value. Estimates: The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, through subsequent events, actual results could differ from those estimated. Refunding of Debt: On March 30, 2017 the Authority completed the marketing and pricing for the sale of its Series 2017 Bonds in the total par amount of $14,395,000 of which $7,795,000 were sold as Series 2017A Non-AMT (not subject to any Federal Tax) and Series 2017B AMT (subject to the Federal Alternative Minimum Tax). The Series 2017 Bonds were used, along with other funds of the Authority, to fully refund the Authority’s Series 2003A, Series 2006A, Series 2006B, and Series 2006C Bonds in the aggregate amount of $16,490,000 (the Refunded Bonds). The impact of the refunding is presented in the following table.

Issue Description Refunding

Amount Refunded Amount

Cash Flow Gain

Present Value Gain

Refunding Bonds Series 2017A&B $14,395,000 $16,490,000 $2,167,050 $1,438,263

Other Notes and Disclosures: The Notes, Required Supplemental Information and other Supplemental Information contained in the Authority’s Comprehensive Annual Financial Report for 2016 and 2015 should be read in conjunction with these financial statements. Implementation of New Accounting Standards: The Governmental Accounting Standards Board has issued Statement No. 74, “Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans.” This statement replaces Statement No. 43, “Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans,” as amended. GASBS 74 applies to the financial statements of the Albany County Airport Authority OPEB Trust, a fiduciary component unit of the Authority. GASBS 74 requires a new actual report with new actuarial

29

assumptions and the Authority expects this report to be available by December 31, 2017 and will implement Statement 74 for the year ended December 31, 2017. The GASB has issued Statement No. 75, “Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions.” This statement replaces Statement No. 45, “Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions,” as amended. GASB 75 requires the Net Unfunded OPEB Liability be presented on the Authority’s Statement of Net Position. The GASBS 74 is required to be Implemented for fiscal years beginning after June 15, 2017.

30


Financial Information

31

Albany County Airport Authority2017 Summary of Revenues, Expenses and Net Results

2017 June 2017 Actual /Adopted FY Budget Actual Variance Variance 2016 Prior Year

Budget YTD YTD YTD % YTD Actual Var %AIRPORT REVENUES

Airline 13,736,590$ 6,875,960$ 6,925,176$ 49,216$ 0.72% 6,733,950$ 2.84%Non-Airline 29,952,989 14,977,170 14,985,745 8,575 0.06% 14,446,957 3.73%

Total Revenues 43,689,579 21,853,130 21,910,921 57,791 0.26% 21,180,907 3.45%

FIXED BASED OPERATOR RETAIL SALES

Fixed Based Operator Retail Sales 6,489,273 3,184,462 3,164,816 (19,646) -0.62% 2,879,552 9.91%Cost of Sales 4,139,289 2,046,314 1,987,944 58,370 2.85% 1,754,158 -13.33%

Net FBO Retail Sales 2,349,984 1,138,148 1,176,872 38,724 3.40% 1,125,394 4.57%

EXPENSE SUMMARY

AvPorts-Airport Management 22,367,063 11,425,563 11,028,395 397,168 3.48% 9,874,546 -11.69%Million Air-FBO Management 3,179,631 1,619,384 1,592,956 26,428 1.63% 1,499,992 -6.20%Authority 4,412,643 2,358,940 2,319,920 39,020 1.65% 2,170,554 -6.88%

Total Expenses 29,959,337 15,403,887 14,941,271 462,616 3.00% 13,545,092 -10.31%

OPERATING RESULTS 16,080,226 7,587,391 8,146,522 559,131 7.37% 8,761,209 -7.02%

OTHER REVENUES (EXPENSES)

Interest Earnings 10,784 3,595 6,387 2,792 77.66% 5,679 12.47%Passenger Facility Charges 4,332,307 2,166,154 2,166,154 0 0.00% 2,164,926 0.06%ACAA '99 EFC Debt (440,240) (220,120) (220,120) 0 0.00% (218,910) -0.55%ACAA '03 Debt Service (477,638) (238,819) (119,410) 119,410 -50.00% (234,984) 49.18%ACAA '06 A & B Debt Service (1,110,161) (555,081) (277,540) 277,540 -50.00% (553,608) 49.87%ACAA '06 C Debt Service (402,416) (201,208) (100,604) 100,604 -50.00% (202,158) 50.23%ACAA '10 A Debt Service (10,637,511) (5,318,756) (5,318,756) 0 0.00% (5,319,552) 0.01%ACAA '17 A Debt Service 0 0 (189,471) (189,471) 100.00% 0 -100.00%ACAA '17 B Debt Service 0 0 (301,200) (301,200) 100.00% 0 -100.00%Non-Capital Equipment (149,490) (49,830) (155,029) (105,199) 211.12% (108,052) 0.00%Grant Income 124,100 41,367 68,780 27,413 66.27% 142,262 -51.65%Improvement Charges 368,400 184,200 184,200 0 0.00% 184,200 0.00%

Total Other Revenues(Expenses) (8,381,865) (4,188,498) (4,256,609) (68,111) 1.63% (4,140,197) -2.81%

NET RESULTS BEFORE RESERVES 7,698,361 3,398,894 3,889,913 491,020 14.45% 4,621,012 15.82%

Less: Capital Improvements (3,099,444) (1,549,722) (1,549,722) 0 0.00% (1,500,000) -3.31%Less: Reserve Requirements (169,068) (169,068) (169,068) 0 0.00% 141,582 -219.41%

NET RESULTS 4,429,849 1,680,104 2,171,123 491,020 29.23% 3,262,594 33.45%Revenue Sharing: Transfer to/from Airlines (50%) 2,214,925 840,052 1,085,562 245,510 29.23% 1,631,297 33.45% Authority Share (50%) 2,214,925 840,052 1,085,562 245,510 29.23% 1,631,297 33.45%

Less: Airline Incentives (19,071) (19,071) (75,270) (56,199) 294.68% (495,808) 0.00%Net Authority Share 2,195,854$ 820,981$ 1,010,292$ 189,311$ 23.06% 1,135,489$ 599.80%

Adopted FY Budget 2017 Actual YTDOperating Net Operating Net Operating Net

MONTHLY RECAP Results Results Results Results Results Results

JANUARY 501,537$ (196,952)$ 883,367$ 198,378$ 1,076,143$ 383,245$ FEBRUARY 1,114,690 416,201 1,143,538 426,708 1,490,406 792,249MARCH 1,505,331 806,842 1,403,212 717,250 1,668,981 962,931APRIL 1,367,567 669,080 1,460,463 1,069,102 1,243,168 574,078MAY 1,668,874 971,602 1,676,148 582,258 1,788,724 1,117,107JUNE 1,429,392 732,121 1,579,794 896,217 1,493,787 791,402SUB TOTAL 7,587,391 3,398,894 8,146,522 3,889,913 8,761,209 4,621,012

JULY 1,539,436 838,513AUGUST 1,684,948 986,459SEPTEMBER 1,386,687 688,198OCTOBER 1,557,274 858,786NOVEMBER 1,453,086 754,597DECEMBER 871,404 172,914TOTAL 16,080,226$ 7,698,361$ 8,146,522$ 3,889,913$ 8,761,209$ 4,621,012$

JUNE 2017

2016 Actual YTD

32

Albany County Airport AuthorityRevenue Summary

2017 JUNE 2017 June 2017 Actual /Adopted FY Budget Actual Variance Variance 2016 Prior Year

Budget YTD YTD YTD % Actual Variance %

AIRLINE REVENUES

COMMERCIAL 5,998,738$ 3,006,598$ 3,029,736$ 23,139$ 0.77% 3,033,552$ -0.13%

CARGO 519,231 259,130 257,072 (2,058) -0.79% 276,472 -7.02%

TERMINAL 5,979,890 2,989,945 3,015,199 25,254 0.84% 2,819,898 6.93%

FBO 1,238,731 620,287 623,169 2,882 0.46% 604,028 3.17%

TOTAL AIRLINE REVENUES 13,736,590 6,875,960 6,925,176 49,217 0.72% 6,733,950 2.84%

NON-AIRLINE REVENUES

AIRFIELD 524,101 234,488 193,972 (40,517) -17.28% 225,328 -13.92%

TERMINAL 3,209,441 1,535,347 1,631,011 95,664 6.23% 1,491,049 9.39%

GROUND TRANSPORTATION 21,136,602 10,647,853 10,467,638 (180,215) -1.69% 10,237,823 2.24%

OTHER AIRPORT 5,082,845 2,559,482 2,693,124 133,642 5.22% 2,492,757 8.04%

TOTAL NON AIRLINE REVENUES 29,952,989 14,977,170 14,985,745 8,574 0.06% 14,446,957 3.73%

TOTAL REVENUES 43,689,579$ 21,853,130$ 21,910,921$ 57,791$ 0.26% 21,180,907$ 3.45%

33

Total AnnualBudget

This MonthBudget

This MonthActual

Var This Mo.To Budget

Year to DateBudget

Year to DateActual

Var This Yearto Budget

FIXED BASED OPERATOR RETAIL SALES

Jet A Fuel Sales $4,245,294 $330,313 $376,550 $46,237 $1,929,707 $1,957,853 $28,147Fuel Costs - Jet A (2,154,016) (167,597) (192,816) (25,219) (979,112) (1,039,160) (60,048)Fuel Discounts - Jet A (347,000) (26,999) (25,246) 1,753 (157,729) (129,309) 28,420Net Jet A Fuel Sales 1,744,278 135,717 158,488 22,771 792,866 789,384 (3,481)

AvGas Fuel Sales 316,191 32,387 30,576 (1,811) 146,003 135,474 (10,529)Fuel Costs - AvGas (230,457) (23,606) (23,762) (156) (106,415) (106,577) (162)Fuel Discounts - AvGas (5,000) (512) (491) 21 (2,308) (2,333) (25)Net AvGas Fuel Sales 80,734 8,269 6,323 (1,946) 37,280 26,564 (10,716)

Commercial AvGas Fuel Sales 559,300 46,569 27,945 (18,624) 274,626 225,595 (49,031)Fuel Costs-Comm AvGas (496,400) (41,332) (25,325) 16,007 (243,742) (202,044) 41,698Net Comm AvGas Fuel Sales 62,900 5,237 2,620 (2,618) 30,884 23,551 (7,333)

Auto & Diesel Fuel Sales 238,000 10,675 14,028 3,353 139,027 147,592 8,565Fuel Costs - Auto & Diesel (186,000) (8,125) (9,490) (1,365) (108,632) (110,422) (1,790)Net Auto & Diesel Fuel Sales 52,000 2,550 4,538 1,988 30,394 37,170 6,776

Deicing Services 628,615 0 0 0 392,056 352,619 (39,437)Deicing Costs Type I, Type IV (276,415) (83) 0 83 (171,999) (91,890) 80,109Net Deicing Services 352,200 (83) 0 83 220,057 260,728 40,671

Deicing Consortium 439,702 0 0 0 274,226 314,594 40,368Deicing Costs Type I, Type IV (439,702) 0 0 0 (274,226) (304,876) (30,650)Net Deicing Consortium 0 0 0 0 0 9,718 9,718

FBO Services 62,171 4,912 6,488 1,577 28,817 31,090 2,273Catering (1,000) (83) 31 115 (500) 0 500Oil (3,000) (250) 0 250 (1,500) (1,334) 166Charts, Pilot Supplies (300) (25) 0 25 (150) 0 150Net FBO Services 57,871 4,553 6,520 1,966 26,667 29,756 3,088

NET FBO RETAIL SALES 2,349,984 156,244 178,489 22,245 1,138,148 1,176,872 38,724

Albany County Airport AuthorityNet FBO Retail Sales

For the Six Months Ending Friday, June 30, 2017

34

Albany County Airport AuthorityExpense Summary

2017 JUNE 2017 June 2017 Actual /Adopted FY Budget Actual Variance Variance 2016 Prior Year


EXPENSES - SUMMARY AvPort-Airport Management 22,367,063$ 11,425,563$ 11,028,395$ 397,168$ 3.5% 9,874,546$ -11.7% Million Air-FBO Management 3,179,631 1,619,384 1,592,956 26,428 1.6% 1,499,992 -6.2% Authority 4,412,643 2,358,940 2,319,920 39,020 1.7% 2,170,554 -6.9%

29,959,337$ 15,403,887$ 14,941,271$ 462,616$ 3.0% 13,545,092$ -10.3%

EXPENSES BY CATEGORYPersonal Services 10,352,081$ 5,167,229$ 5,060,033$ 107,196$ 2.1% 4,697,472$ -7.7%Employee Benefits 5,031,423 2,547,928 2,437,398 110,530 4.3% 2,256,307 -8.0%Utilities & Communications 2,435,196 1,315,038 1,171,062 143,977 10.9% 1,185,013 1.2%Purchased Services Accounting & Auditing 61,000 39,686 44,630 (4,944) -12.5% 30,595 -45.9% Insurance 769,559 620,064 642,050 (21,986) -3.5% 524,405 -22.4% Legal Services 50,000 25,000 3,413 21,588 86.4% 8,942 61.8% Public Safety 264,450 132,225 123,844 8,381 6.3% 110,229 -12.4% Albany County Sheriffs 2,578,024 1,289,012 1,289,012 - 0.0% 1,262,108 -2.1% Parking Valet Service 360,000 180,000 213,336 (33,336) -18.5% 48,881 -336.4% Employee Shuttle 20,000 - 10,000 (10,000) 0.0% - 0.0% Janitorial 499,038 249,519 242,803 6,716 2.7% 208,516 -16.4% Public Communications 779,802 381,147 346,453 34,695 9.1% 371,458 6.7% Special Studies 67,500 33,750 30,983 2,767 8.2% 26,133 -18.6% Professional Services 898,660 448,765 390,316 58,449 13.0% 373,408 -4.5%Total Purchased Services 6,348,033 3,399,168 3,336,840 62,330 1.8% 2,964,675 -12.6%

Material & Supplies Airfield 856,000 436,908 375,162 61,746 14.1% 233,262 -60.8% Buildings 2,032,737 1,032,530 1,105,332 (72,802) -7.1% 960,883 -15.0% Grounds 790,785 468,126 405,990 62,136 13.3% 330,158 -23.0% Vehicles 801,200 379,049 438,770 (59,720) -15.8% 325,045 -35.0%Total Material & Supplies 4,480,722 2,316,614 2,325,256 (8,637) -0.4% 1,849,351 -25.7%Office 410,486 208,236 176,662 31,574 15.2% 165,627 -6.7%Administration 901,396 449,675 434,022 15,653 3.5% 426,652 -1.7%Total Expenses 29,959,337$ 15,403,888$ 14,941,273$ 462,623$ 3.0% 13,545,097$ -10.3%

DEPARTMENT SUMMARY (DIRECT & INDIRECT)Direct Cost Centers Airfield 3,123,885$ 1,614,936$ 1,540,995$ 73,941$ 4.6% 1,251,445$ -23.1% FBO 2,508,977 1,276,706 1,273,864 2,842 0.2% 1,194,667 -6.6% Terminal 5,293,499 2,713,734 2,788,532 (74,798) -2.8% 2,459,242 -13.4% Loading Bridges 279,240 139,445 137,044 2,401 1.7% 86,808 -57.9% Parking 4,498,770 2,324,374 2,066,800 257,574 11.1% 1,726,082 -19.7% Landside 1,131,067 595,075 563,602 31,474 5.3% 542,980 -3.8%Total Direct Cost Centers 16,835,438 8,664,270 8,370,837 293,434 3.4% 7,261,224 -15.3%

Indirect Cost Center ARFF 2,004,008 985,518 916,486 69,032 7.0% 1,005,216 8.8% Operations 895,695 451,100 460,763 (9,663) -2.1% 411,805 -11.9% Security 2,922,914 1,462,746 1,433,099 29,647 2.0% 1,383,430 -3.6% Vehicles & Equipment 1,343,551 701,111 685,956 15,155 2.2% 598,944 -14.5% Airport Mgmt Administration 874,434 437,524 435,119 2,405 0.5% 408,595 -6.5% FBO Administration 670,654 342,678 319,094 23,584 6.9% 305,325 -4.5% Airport Authority Administration 4,412,643 2,358,940 2,319,920 39,020 1.7% 2,170,554 -6.9%Total Indirect Cost Centers 13,123,899 6,739,617 6,570,437 169,180 2.5% 6,283,869 -4.6%

Total Expenses 29,959,337$ 15,403,887$ 14,941,274$ 462,614$ 3.0% 13,545,093$ -10.3%

35


StatisticalHighlights

36

Percentage2017 2017 Percentage 2016 Actual

ACTIVITIES: ACTUAL BUDGET Actual vs. Budget AUDITED 2017 VS. 2016

Enplanements Current Month 120,316 117,121 2.7% 117,743 2.2%

Year - to - Date 688,504 676,748 1.7% 680,340 1.2%

Aircraft Operations Current Month 5,619 5,868 -4.2% 5,835 -3.7%

Year - to - Date 30,923 31,931 -3.2% 31,757 -2.6%

Landed Weight (#) Current Month 133,835,433 134,744,044 -0.7% 133,960,121 -0.1%

Year - to - Date 789,706,088 788,944,727 0.1% 784,354,749 0.7%

Cargo, Mail & Express (Tons) Current Month 1,669 1,513 10.3% 1,589 5.1%

Year - to - Date 9,905 8,942 10.8% 9,070 9.2%

FBO Jet A (Gallons) Current Month 89,950 81,358 10.6% 80,224 12.1%

Year - to - Date 458,958 475,297 -3.4% 468,673 -2.1%

FBO AvGas (Gallons) Current Month 6,292 7,025 -10.4% 8,954 -29.7%

Year - to - Date 27,974 31,671 -11.7% 34,492 -18.9%

AvGas Commercial (gallons) Current Month 7,834 14,155 -44.7% 13,001 -39.7%

Year - to - Date 63,832 83,473 -23.5% 80,106 -20.3%

FBO Into-Plane (Gallons) Current Month 1,697,748 1,698,832 -0.1% 1,670,691 1.6%

Year - to - Date 9,672,775 9,365,039 3.3% 9,209,910 5.0%

FBO Deicing (Gallons) Current Month 0 0 0.0% 0 0.0%

Year - to - Date 98,304 90,849 8.2% 62,535 57.2%

REVENUES:Landing Fees Current Month $487,141 $488,902 -0.4% $512,520 -5.0%

Year - to - Date $2,839,258 $2,856,107 -0.6% $2,994,178 -5.2%

Terminal Current Month $509,676 $498,324 2.3% $469,346 8.6%

Year - to - Date $3,015,199 $2,989,945 0.8% $2,819,898 6.9%

Parking Current Month $1,118,414 $1,119,790 -0.1% $1,083,242 3.2%

Year - to - Date $8,053,951 $8,190,510 -1.7% $7,895,706 2.0%

Rental Cars Current Month $566,799 $564,789 0.4% $537,901 5.4%

Year - to - Date $2,190,655 $2,239,575 -2.2% $2,131,831 2.8%

Food & Beverage Current Month $68,162 $67,568 0.9% $68,057 0.2%

Year - to - Date $384,410 $392,822 -2.1% $378,237 1.6%

Retail Current Month $68,968 $67,320 2.4% $65,255 5.7%

Year - to - Date $396,215 $386,248 2.6% $374,399 5.8%

Departure Current Month $25,923 $17,823 45.4% $18,756 38.2%

Year - to - Date $114,588 $83,883 36.6% $88,274 29.8%

FBO Jet A , Net Current Month $158,488 $135,717 16.8% $138,577 14.4%

Year - to - Date $789,384 $792,865 -0.4% $805,928 -2.1%

FBO AvGas, Net Current Month $6,322 $8,270 -23.6% $10,632 -40.5%

Year - to - Date $26,564 $37,280 -28.7% $39,093 -32.0%

AvGas Commercial, Net Current Month $2,619 $5,237 -50.0% $4,822 -45.7%

Year - to - Date $23,551 $30,884 -23.7% $30,664 -23.2%

FBO Into-Plane Current Month $56,430 $59,440 -5.1% $58,680 -3.8%

Year - to - Date $325,485 $327,670 -0.7% $329,885 -1.3%

FBO Deicing, Net Current Month $0 $0 0.0% $0 0.0%

Year - to - Date $271,007 $220,557 22.9% $178,317 52.0%

Albany International AirportJune Highlights

37

2017 YTD 2016 2015 2014 2013 REVENUE PER ENPLANEMENT: PRELIMINARY AUDITED AUDITED AUDITED AUDITED

Parking $11.70 $10.57 $9.87 $9.19 $8.83Rental Car $3.18 $3.59 $3.89 $3.95 $3.85Food & Beverage $0.56 $0.56 $0.51 $0.55 $0.55Retail $0.58 $0.56 $0.54 $0.57 $0.28Departure $0.17 $0.17 $0.19 $0.19 $0.19

2017 2016 2015 2014 2013 AIRLINE RATES & CHARGES: BUDGET AUDITED AUDITED AUDITED AUDITED

Landing Fees Per 1,000 lbs. MGLW:

Signatory $3.13 $2.73 $3.27 $3.06 $2.92 Non-Signatory $3.91 $4.04 $4.04 $4.08 $4.05Apron Fees Per Square Foot: $1.36 $1.19 $1.52 $1.59 $1.58Terminal Rental Per Square Foot:

Signatory $80.78 $81.11 $74.63 $68.13 $66.56 Non-Signatory $100.98 $93.48 $93.48 $90.58 $88.63Loading Bridges - Annual: $38,898 $40,383 $44,761 $31,284 $31,445Cost per Enplanement :

Airport CPE (after revenue sharing) $6.74 $6.00 $7.12 $7.22 $7.60

Albany International AirportJune Highlights

Annual Rates and Charges Summary

38

2017 # % 2017 vs.2017 Budget Variance Variance 2016 2016 2015 2014

January (Actual) 106,168 101,786 4,382 4.3% 102,325 3.8% 90,643 84,015

February (Actual) 102,255 102,669 (414) -0.4% 103,214 -0.9% 87,552 85,439

March (Actual) 119,677 118,772 905 0.8% 119,403 0.2% 113,146 105,968

April (Actual) 119,423 118,732 691 0.6% 119,362 0.1% 111,736 102,915

May (Actual) 120,665 117,668 2,997 2.5% 118,293 2.0% 107,512 103,753

June (ACTUAL) 120,316 117,121 3,195 2.7% 117,743 2.2% 105,861 101,836

July (Projected) 132,500 130,238 2,262 1.7% 130,930 1.2% 122,142 117,742

August (Projected) 135,215 132,906 2,309 1.7% 133,612 1.2% 123,590 120,468

September (Projected) 117,141 115,141 2,000 1.7% 115,752 1.2% 105,997 101,102

October (Projected) 124,854 122,722 2,132 1.7% 123,374 1.2% 116,149 111,159

November (Projected) 116,602 114,611 1,991 1.7% 115,220 1.2% 107,036 96,634

December (Projected) 109,504 107,634 1,870 1.7% 108,206 1.2% 106,385 99,345

Total 1,424,320 1,400,000 24,320 1.7% 1,407,434 1.2% 1,297,749 1,230,376

YTD Enplanements 688,504 676,748 11,756 1.7% 680,340 1.2% 616,450 583,926

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

Jan Actual Feb Actual Mar Actual Apr Actual May Actual Jun Actual JulProjected

AugProjected

SepProjected

OctProjected

NovProjected

DecProjected

2017 Actual/Projected 2016 Actual 2015 Actual 2014 Actual

Albany International AirportMonthly Enplanements 2014-2017For the six months ended June 30

39

Current Month # % Year To Date # % YTD Market Share %

Carrier 2017 2016 Change Change 2017 2016 Change Change 2017 2016 Change

American 10,063 9,760 303 3.1% 57,327 58,012 (685) -1.2% 8.3% 8.5% -0.2%

American Eagle-Air Wisconsin 2,477 6,445 (3,968) -61.6% 12,004 28,748 (16,744) -58.2% 1.7% 4.2% -2.5%

American Eagle - Envoy 3,244 3,189 55 1.7% 17,636 13,917 3,719 26.7% 2.6% 2.0% 0.5%

American Eagle-Piedmont 6,050 2,871 3,179 110.7% 26,496 11,193 15,303 136.7% 3.8% 1.6% 2.2%

American Eagle-PSA 2,350 1,498 852 56.9% 19,999 5,689 14,310 251.5% 2.9% 0.8% 2.1%

American Eagle-Republic 1,258 1,860 (602) -32.4% 11,802 26,221 (14,419) -55.0% 1.7% 3.9% -2.1%

American Eagle-SkyWest 0 1,032 (1,032) -100.0% 92 1,870 (1,778) -95.1% 0.0% 0.3% -0.3%

American Eagle-TransStates 197 0 197 100.0% 3,314 0 3,314 100.0% 0.5% 0.0% 0.5%

Boutique Air 247 0 247 100.0% 564 0 564 100.0% 0.1% 0.0% 0.1%

Cape Air 1,048 1,343 (295) -22.0% 6,908 7,883 (975) -12.4% 1.0% 1.2% -0.2%

Delta 16,240 14,414 1,826 12.7% 73,625 67,995 5,630 8.3% 10.7% 10.0% 0.7%

Delta - Endeavor 3,369 4,840 (1,471) -30.4% 15,681 22,088 (6,407) -29.0% 2.3% 3.2% -1.0%

Delta - Express Jet 0 1,266 (1,266) -100.0% 524 10,867 (10,343) -95.2% 0.1% 1.6% -1.5%

Delta - Go Jet 0 0 0 0.0% 652 4 648 16200.0% 0.1% 0.0% 0.1%

Delta - Shuttle America 0 0 0 0.0% 0 1,611 (1,611) -100.0% 0.0% 0.2% -0.2%

Delta - SkyWest 1,021 0 1,021 100.0% 10,389 0 10,389 100.0% 1.5% 0.0% 1.5%

Jet Blue 6,801 6,439 362 5.6% 44,838 41,158 3,680 8.9% 6.5% 6.0% 0.5%

One-Jet 16 0 16 100.0% 16 0 16 100.0% 0.0% 0.0% 0.0%

Southwest 44,786 44,535 251 0.6% 289,260 289,759 (499) -0.2% 42.0% 42.6% -0.6%

United 10,929 7,397 3,532 47.7% 40,991 37,379 3,612 9.7% 6.0% 5.5% 0.5%

United Exp-Commutair 6,514 4,522 1,992 44.1% 34,179 30,464 3,715 12.2% 5.0% 4.5% 0.5%

United Exp-Express Jet 1,211 2,084 (873) -41.9% 1,843 6,669 (4,826) -72.4% 0.3% 1.0% -0.7%

United Exp-Go Jet 788 1,220 (432) -35.4% 11,600 2,251 9,349 415.3% 1.7% 0.3% 1.4%

United Exp-Mesa 151 1,303 (1,152) -88.4% 4,444 7,823 (3,379) -43.2% 0.6% 1.1% -0.5%

United Exp-Republic 55 1 54 5400.0% 107 60 47 78.3% 0.0% 0.0% 0.0%

United Exp-Shuttle America 0 0 0 0.0% 115 65 50 76.9% 0.0% 0.0% 0.0%

United Exp-SkyWest 447 1,417 (970) -68.5% 2,185 8,052 (5,867) -72.9% 0.3% 1.2% -0.9%

United Exp-TransStates 975 307 668 217.6% 1,399 562 837 148.9% 0.2% 0.1% 0.1%

Xtra Airways 79 0 79 100.0% 514 0 514 100.0% 0.1% 0.0% 0.1%

Total 120,316 117,743 2,573 2.2% 688,504 680,340 8,164 1.2% 100.0% 100.0% 0.0%

YTD YTD # %Budget Actual Variance Variance676,748 688,504 11,756 1.7%

Albany International AirportEnplanements Per Carrier

For the six months ended June 30

American, 21.6%

Cape Air, 1.0%

Delta, 14.7%

Jet Blue, 6.5%

One‐Jet, 0.0%

Southwest, 42.0%

United , 14.1%

Xtra Airways, 0.1% Boutique Air, 0.1%

2017 Market Share

40

%Type 2017 2016 Change 2015 2014

Passenger 19,748 19,758 -0.1% 17,562 18,160

Cargo 2,156 2,092 3.1% 1,862 1,842

Charters & Corporate 1,162 1,457 -20.2% 1,583 1,637

Sub Total 23,066 23,307 -1.0% 21,007 21,639

General Aviation 6,371 6,936 -8.1% 6,266 7,432

Military 1,486 1,514 -1.8% 1,352 1,290

Total 30,923 31,757 -2.6% 28,625 30,361

0

5,000

10,000

15,000

20,000

25,000

Passenger Cargo Charters General Aviation Military

2017 2016 2015 2014

Albany International AirportAircraft Operations by Type


41

# Current Month # % Year To Date # % YTD Market Share %Carrier Sch. 2017 2016 Change Change 2017 2016 Change Change 2017 2016 Change

American 184 184 168 16 9.5% 1,054 1,000 54 5.4% 5.3% 4.3% 1.0%American - Air Wisconsin 122 122 308 (186) -60.4% 596 1,538 (942) -61.2% 3.0% 6.6% -3.6%American - Envoy 120 120 116 4 3.4% 716 572 144 25.2% 3.6% 2.5% 1.1%American - Mesa 0 0 0 0 0.0% 0 0 0 0.0% 0.0% 0.0% 0.0%American - Piedmont 354 330 166 164 98.8% 1,468 648 820 126.5% 7.4% 2.8% 4.6%American - PSA 104 102 56 46 82.1% 746 226 520 230.1% 3.8% 1.0% 2.8%American - Republic Airways 48 48 66 (18) -27.3% 402 960 (558) -58.1% 2.0% 4.1% -2.1%American - Skywest 0 0 60 (60) -100.0% 4 118 (114) -96.6% 0.0% 0.5% -0.5%American - Trans States 8 8 0 8 100.0% 160 0 160 100.0% 0.8% 0.0% 0.8%Boutique Air 120 118 0 118 100.0% 290 0 290 100.0% 1.5% 0.0% 1.5%Cape Air 344 344 510 (166) -32.5% 2,580 3,144 (564) -17.9% 13.1% 13.5% -0.4%Delta 272 274 232 42 18.1% 1,354 1,244 110 8.8% 6.9% 5.3% 1.6%Delta - Compass 0 0 0 0 0.0% 0 0 0 0.0% 0.0% 0.0% 0.0%Delta - Endeavor 130 134 170 (36) -21.2% 628 842 (214) -25.4% 3.2% 3.6% -0.4%Delta - Express Jet 0 0 50 (50) -100.0% 26 416 (390) -93.8% 0.1% 1.8% -1.7%Delta - Go Jet 0 0 0 0 0.0% 22 2 20 1000.0% 0.1% 0.0% 0.1%Delta-Republic 0 2 0 2 100.0% 8 0 8 100.0% 0.0% 0.0% 0.0%Delta - Shuttle America 0 0 0 0 0.0% 2 70 (68) -97.1% 0.0% 0.3% -0.3%Delta - Sky West 46 46 0 46 100.0% 456 0 456 100.0% 2.3% 0.0% 2.3%JetBlue 120 114 120 (6) -5.0% 718 732 (14) -1.9% 3.6% 3.1% 0.5%One Jet 14 14 0 14 100.0% 14 0 14 100.0% 0.1% 0.0% 0.1%Southwest 708 708 718 (10) -1.4% 4,750 4,666 84 1.8% 24.1% 20.0% 4.1%United 160 160 120 40 33.3% 700 672 28 4.2% 3.5% 2.9% 0.6%United - Commut Air 402 402 328 74 22.6% 2,274 1,888 386 20.4% 11.5% 8.1% 3.4%United - Express Jet 60 56 102 (46) -45.1% 100 322 (222) -68.9% 0.5% 1.4% -0.9%United - Go Jet 24 24 38 (14) -36.8% 354 74 280 378.4% 1.8% 0.3% 1.5%United - Mesa 6 6 42 (36) -85.7% 148 250 (102) -40.8% 0.7% 1.1% -0.4%United - Republic Airways 0 0 2 (2) -100.0% 4 4 0 0.0% 0.0% 0.0% 0.0%United - SkyWest 18 18 58 (40) -69.0% 86 342 (256) -74.9% 0.4% 1.5% -1.1%United - Shuttle American 0 0 0 0 0.0% 4 2 2 100.0% 0.0% 0.0% 0.0%United - Trans States 40 40 14 26 185.7% 60 26 34 130.8% 0.3% 0.1% 0.2%XTRAirways 4 4 0 4 100.0% 24 0 24 100.0% 0.1% 0.0% 0.1%Subtotal 3,408 3,378 3,444 (66) -1.9% 19,748 19,758 (10) -0.1% 85.6% 84.8% 0.8%

DHL - Ameriflight, Inc. 44 44 0 0.0% 256 262 (6) -2.3% 1.3% 1.1% 0.2%Federal Express 44 44 0 0.0% 252 218 34 15.6% 1.3% 0.9% 0.4%Federal Express - Wiggins Airways 226 214 12 5.6% 1,188 1,150 38 3.3% 6.0% 4.9% 1.1%United Parcel Service 80 80 0 0.0% 460 462 (2) -0.4% 2.3% 2.0% 0.3%Subtotal 394 382 12 3.1% 2,156 2,092 64 3.1% 9.3% 9.0% 0.3%

Charter, Corporate & Diversions 278 259 19 7.3% 1,162 1,457 (295) -20.2% 5.0% 6.3% -1.3%Total 4,050 4,085 (35) -0.9% 23,066 23,307 (241) -1.0% 100.0% 100.0% 0.0%

American, 26.1%

Boutique Air, 1.5%

Cape Air, 13.1%

Delta, 12.6%

One Jet, 0.1%

JetBlue, 3.6%

Southwest, 24.1%

United, 19.0%

OPERATIONS AS A PERCENTAGE OF COMMERCIAL CARRIER

Albany International AirportOperations Per Carrier

For six months ended June 30

42

2017 2017 2017 vs.2017 Budget Variance 2016 2016 2015 2014

January (Actual) 128,222,843 118,213,233 10,009,611 117,525,483 9.1% 103,304,214 98,958,747

February (Actual) 114,046,534 116,518,196 (2,471,662) 115,840,308 -1.5% 92,037,406 98,428,663

March (Actual) 136,249,073 142,850,861 (6,601,788) 142,019,773 -4.1% 120,437,933 123,681,654

April (Actual) 136,505,291 135,818,488 686,802 135,028,314 1.1% 119,377,313 116,331,739

May (Actual) 140,846,914 140,799,905 47,009 139,980,749 0.6% 120,306,839 117,725,015

June (ACTUAL) 133,835,433 134,744,044 (908,611) 133,960,121 -0.1% 121,103,138 115,757,236

July (Projected) 141,140,465 141,004,391 136,075 140,184,045 0.7% 126,564,621 122,620,874

August (Projected) 138,142,306 138,009,122 133,184 137,206,202 0.7% 125,078,087 123,076,084

September (Projected) 131,456,858 131,330,119 126,739 130,566,058 0.7% 117,244,013 112,865,828

October (Projected) 138,028,316 137,895,241 133,074 137,092,985 0.7% 122,976,521 116,833,433

November (Projected) 133,190,740 133,062,330 128,410 132,288,190 0.7% 120,142,166 111,485,994

December (Projected) 129,879,288 129,754,071 125,218 128,999,178 0.7% 124,133,174 110,308,442

Total 1,601,544,060 1,600,000,000 1,544,060 1,590,691,408 0.7% 1,412,705,423 1,368,073,710

YTD Landed Weight 789,706,088 788,944,727 761,361 784,354,749 0.7% 676,566,842 670,883,055

0

20,000,000

40,000,000

60,000,000

80,000,000

100,000,000

120,000,000

140,000,000

160,000,000


AugProjected

SepProjected

OctProjected

NovProjected

DecProjected


Albany International AirportLanded Weights 2014 - 2017


43

Current Month # % Year To Date # % YTD Market Share %Carrier 2017 2016 Change Change 2017 2016 Change Change 2017 2016 Change

American 12,706,601 11,584,399 1,122,202 9.7% 73,057,102 69,719,024 3,338,078 4.8% 9.3% 8.9% 0.4%

American Eagle 18,478,399 20,264,650 (1,786,250) -8.8% 111,808,677 112,638,628 (829,951) -0.7% 14.2% 14.4% -0.2%

Boutique Air 619,501 0 619,501 100.0% 1,522,501 0 1,522,501 100.0% 0.2% 0.0% 0.2%

Cape Air 1,178,201 1,746,749 (568,548) -32.5% 8,836,502 10,768,202 (1,931,701) -17.9% 1.1% 1.4% -0.3%

Delta 18,249,502 16,034,502 2,215,000 13.8% 86,424,409 80,316,302 6,108,107 7.6% 10.9% 10.2% 0.7%

Delta Connection 4,583,310 6,899,302 (2,315,992) -33.6% 30,765,153 38,253,918 (7,488,765) -19.6% 3.9% 4.9% -1.0%

JetBlue 8,105,288 8,531,879 (426,592) -5.0% 51,003,882 52,044,462 (1,040,580) -2.0% 6.5% 6.6% -0.2%

One Jet 109,900 0 109,900 0.0% 109,900 0 109,900 0.0% 0.0% 0.0% 0.0%

Southwest 46,158,000 47,316,000 (1,158,000) -2.4% 308,196,000 307,218,000 978,000 0.3% 39.0% 39.2% -0.1%

United 12,102,042 8,686,574 3,415,468 39.3% 49,874,706 51,343,931 (1,469,224) -2.9% 6.3% 6.5% -0.2%

United Expresses 11,296,690 12,896,066 (1,599,376) -12.4% 66,619,256 62,052,281 4,566,975 7.4% 8.4% 7.9% 0.5%

Xtra Airways 248,000 0 248,000 100.0% 1,488,000 0 1,488,000 100.0% 0.2% 0.0% 0.2%

Charters/Diversions 0 0 0 0.0% 0 0 0 0.0% 0.0% 0.0% 0.0%

Total 133,835,433 133,960,121 (124,687) -0.1% 789,706,088 784,354,749 5,351,339 0.7% 100.0% 100.0% 0.0%

YTD YTD # %

Budget Actual Variance Variance

788,944,727 789,706,088 761,361 0.1%

American, 23.4%

Boutique Air, 0.2%

Cape Air, 1.1%Delta, 14.8%

JetBlue, 6.5%

One Jet, 0.0%

Southwest, 39.0%

United , 14.8%

Xtra Airways, 0.2%

2017 Market Share

Albany International AirportLanded Weights Per Carrier


44

CARGO 17 vs.16 MAIL & EXPRESS 17 vs.16

2017 2016 % Change 2017 2016 % Change

January 879.60 1,096.22 -19.8% 451.32 469.18 -3.8%

February 887.79 1,014.97 -12.5% 415.37 440.62 -5.7%

March 1,138.70 1,039.17 9.6% 555.80 559.20 -0.6%

April 1,867.55 988.14 89.0% 501.95 494.33 1.5%

May 964.68 911.62 5.8% 572.86 467.36 22.6%

June 1,073.42 1,038.57 3.4% 595.74 550.30 8.3%

July 953.90 -100.0% 514.72 -100.0%

August 1,022.69 -100.0% 578.32 -100.0%

September 1,101.58 -100.0% 576.03 -100.0%

October 974.49 -100.0% 535.83 -100.0%

November 986.94 -100.0% 587.20 -100.0%December 1,010.70 -100.0% 780.02 -100.0%

Total 6,811.74 6,088.69 11.9% 3,093.05 2,980.99 3.8%

Total Fiscal Year 12,138.99 6,553.11

Cargo, Mail & Express 17 vs.16 Cargo, Mail & Express

Carrier 2017 2016 % Change 2015 2014

American 22.80 24.34 -6.3% 15.20 18.73

American - Air Wisconsin 0.64 3.23 -80.4% 4.34 10.36

American - Envoy 0.11 1.32 100.0% 0.00 0.00

American - Mesa 0.00 0.00 0.0% 0.00 0.42

American - Piedmont 1.19 1.28 -6.8% 0.95 1.42

American - PSA 0.69 0.38 100.0% 0.00 0.08

American - Republic Airways 0.06 0.01 442.9% 44.10 0.70

American - Skywest 0.02 0.26 100.0% 0.00 0.00

American - Trans States 0.06 0.00 100.0% 0.00 0.00

Delta 31.65 45.91 -31.1% 44.53 42.43

Southwest 209.14 257.47 -18.8% 268.19 255.51

United 10.37 1.32 0.0% 0.48 1.65 Airline Subtotal 276.73 335.53 -17.5% 377.79 331.31

DHL - Ameriflight, Inc. 345.57 216.36 59.7% 278.26 231.10

Federal Express 4,539.62 4,794.69 -5.3% 5,204.38 4,892.76

Federal Express - Wiggins Airways 1,284.07 569.01 125.7% 335.40 905.08

United Parcel Serv 3,458.79 3,154.09 9.7% 3,147.19 3,234.48 Subtotal Cargo 9,628.06 8,734.15 10.2% 8,965.24 9,263.41

Total 9,904.79 9,069.68 9.2% 9,343.03 9,594.72

Total Fiscal Year 18,692.11 19,372.93 19,508.96

Albany International AirportCargo, Mail & Express Handled by Carrier

For the six months ended June 30(In Tons)

45

Budget # % 2017 vs.(In tons) 2017 2017 Variance Variance 2016 2016 2015 2014

January (Actual) 1,330.9 1,459.4 (128.4) -8.8% 1,565.4 -15.0% 1,538.8 1,500.5

February (Actual) 1,303.2 1,370.0 (66.8) -4.9% 1,455.6 -10.5% 1,447.1 1,357.6

March (Actual) 1,694.5 1,527.9 166.6 10.9% 1,598.4 6.0% 1,548.1 1,515.5

April (Actual) 2,369.5 1,458.6 910.9 62.5% 1,482.5 59.8% 1,601.4 1,570.5

May (Actual) 1,537.5 1,612.9 (75.3) -4.7% 1,379.0 11.5% 1,594.2 2,142.6

June (ACTUAL) 1,669.2 1,512.9 156.2 10.3% 1,588.9 5.1% 1,613.6 1,508.1

July (Projected) 1,659.6 1,498.2 161.4 10.8% 1,468.6 13.0% 1,624.2 1,594.3

August (Projected) 1,720.5 1,553.2 167.3 10.8% 1,601.0 7.5% 1,565.3 1,536.8

September (Projected) 1,710.0 1,543.7 166.3 10.8% 1,677.6 1.9% 1,711.4 1,613.6

October (Projected) 1,808.0 1,632.2 175.8 10.8% 1,510.3 19.7% 1,755.6 1,823.7

November (Projected) 1,653.7 1,492.9 160.8 10.8% 1,574.1 5.1% 1,485.0 1,522.8

December (Projected) 1,950.4 1,760.7 189.7 10.8% 1,790.7 8.9% 1,888.4 1,823.0

20,407.0 18,422.5 1,984.4 10.8% 18,692.1 9.2% 19,372.9 19,509.0

YTD Cargo, Mail, & Express 9,904.8 8,941.6 963.2 10.8% 9,069.7 9.2% 9,343.0 9,594.7

-

500.0

1,000.0

1,500.0

2,000.0

2,500.0


AugProjected

SepProjected

OctProjected

NovProjected

DecProjected


Albany International AirportCargo, Mail & Express 2014 - 2017For the six months ended June 30

46


AirportRevenues

47

ALBANY COUNTY AIRPORT AUTHORITYFor the Six Months Ending Friday, June 30, 2017

2017 June 2017 Actual/Adopted FY Budget Actual Variance Variance 2016 Prior Year


AIRLINE REVENUESCOMMERCIAL Landing Fees $5,008,000 $2,469,397 $2,474,214 $4,817 0.20% $2,596,214 -4.70% Airline Apron Fees 656,290 328,145 331,944 3,799 1.16% 296,723 11.87% Glycol Disposal Fee 334,448 209,056 223,578 14,523 6.95% 140,615 59.00%CARGO Landing Fee 519,231 259,130 257,072 (2,058) -0.79% 276,472 -7.02%TERMINAL Loading Bridges 505,672 252,836 252,837 1 0.00% 240,377 5.18% Space Rental 5,474,218 2,737,109 2,762,362 25,253 0.92% 2,579,521 7.09%FBO

Into Plane Fees 661,822 327,670 325,485 (2,185) -0.67% 329,885 -1.33% Fuel Farm Fee 576,909 292,617 297,684 5,067 1.73% 274,143 8.59%TOTAL AIRLINE REVENUES 13,736,591 6,875,960 6,925,177 49,217 0.72% 6,733,950 2.84%

NON-AIRLINE REVENUESAIRFIELD General Aviation Landing Fees 281,008 127,580 107,972 (19,608) -15.37% 121,492 -11.13% Aircraft Parking Fees 207,185 89,391 65,994 (23,398) -26.17% 85,728 -23.02% TSA Apron Fee 908 454 227 (227) -50.01% 455 -50.17% Tenant Maintenance 35,000 17,063 19,779 2,716 15.92% 17,653 12.05%Total Airfield 524,101 234,488 193,972 (40,516) -17.28% 225,328 -13.92%

TERMINAL Utility Reimbursement 29,000 13,998 12,486 (1,512) -10.80% 12,467 0.15% Tenant Maintenance 25,000 10,128 37,918 27,791 274.40% 16,392 131.33% Space Rent - Non Airline 704,827 352,414 351,202 (1,212) -0.34% 330,556 6.25% Food & Beverage 806,027 392,822 384,410 (8,412) -2.14% 378,237 1.63% Retail 811,985 386,248 396,215 9,966 2.58% 374,399 5.83% Advertising 335,099 161,136 187,883 26,747 16.60% 160,087 17.36% Foreign Currency 26,600 13,300 13,300 0 0.00% 11,902 11.75% Payphones 3,355 1,603 1,065 (537) -33.53% 1,494 -28.68% Phone Cards 0 0 0 0 0.00% 28 -100.00% ATM 37,089 18,497 18,037 (460) -2.49% 18,235 -1.08% Museum Shop 223,360 83,883 114,588 30,705 36.60% 88,274 29.81% Operating Permits 166,447 80,755 95,017 14,262 17.66% 79,955 18.84% Vending Machines 33,652 17,063 15,390 (1,673) -9.80% 15,526 -0.87% Baggage Cart Rentals 7,000 3,500 3,500 0 0.00% 3,500 0.00%Total Terminal 3,209,441 1,535,347 1,631,011 95,664 6.23% 1,491,049 9.39%

GROUND TRANSPORTATION Parking 15,436,447 8,190,510 8,053,951 (136,559) -1.67% 7,895,706 2.00% Rental Cars 5,311,244 2,239,575 2,190,655 (48,920) -2.18% 2,131,830 2.76% Access Fees 304,288 175,457 175,634 178 0.10% 169,188 3.81% TNCs 0 0 5,086 5,086 0.00% 0 0.00% Garage Space Rent 84,623 42,312 42,311 0 0.00% 41,099 2.95%Total Ground Transportation 21,136,602 10,647,853 10,467,638 (180,215) -1.69% 10,237,823 2.24%

June 2017

48

ALBANY COUNTY AIRPORT AUTHORITYFor the Six Months Ending Friday, June 30, 2017



OTHER AIRPORT Telephone System - 75,000 37,014 36,167 (847) -2.29% 37,308 -3.06% Building Rental 124,507 62,880 62,880 0 0.00% 42,394 48.32% Control Tower Rental 665,776 332,888 332,888 0 0.00% 332,888 0.00% Air Cargo Facility 862,676 435,306 461,184 25,878 5.94% 456,156 1.10% State Executive Hangar 1,247,083 623,541 623,541 0 0.00% 623,541 0.00% T Hangars 99,979 49,989 46,820 (3,170) -6.34% 48,514 -3.49% Tie Downs 4,019 2,010 2,048 39 1.92% 1,290 58.83% AV Gas Fuel Sales 58,464 26,406 19,400 (7,007) -26.53% 23,991 -19.14% FBO Properties 315,744 172,303 168,513 (3,790) -2.20% 170,303 -1.05% Industrial Park 557,657 278,471 271,921 (6,551) -2.35% 224,941 20.89% Land Rental 281,853 141,092 151,092 10,000 7.09% 129,887 16.33% Eclipse Hangar 127,546 63,409 57,296 (6,113) -9.64% 59,977 -4.47% Hangar Rental 383,581 191,351 209,089 17,738 9.27% 204,823 2.08% Internet and Cable Access 12,960 5,820 5,820 0 0.00% 4,595 26.66% Fingerprinting 20,000 10,000 13,677 3,677 36.77% 12,214 11.98% Tenant Maintenance 1,000 587 0 (587) -100.00% 0 0.00% Purchasing Proposals 6,000 3,000 4,275 1,275 42.50% 5,380 -20.54% Ebay/Scrap/Equipment 20,000 10,000 1,064 (8,936) -89.36% 3,808 -72.05% Utility Reimbursement 122,000 68,157 79,774 11,617 17.04% 68,297 16.81% Reimb of Property Taxes 37,000 15,257 15,557 301 1.97% 15,286 1.77% Other 60,000 30,000 130,119 100,119 333.73% 27,164 379.01%Total Other Airport 5,082,845 2,559,481 2,693,124 133,643 5.22% 2,492,757 8.04%

TOTAL NON AIRLINE REVENUES 29,952,989 14,977,169 14,985,744 8,576 0.06% 14,446,956 3.73%TOTAL REVENUES 43,689,580 21,853,129 21,910,921 57,792 0.26% 21,180,906 3.45%

June 2017

49

3,600,000

3,700,000

3,800,000

3,900,000

4,000,000

4,100,000

4,200,000

4,300,000

4,400,000

4,500,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2017 Actual 2017 Budget 2016 Actual

Albany International AirportOperating Revenue


Airline31.7%

Airfield9.3%Terminal

6.1%


42.5%

Other Airport10.3%

YTD 2017 Budget

Airline31.7%


6.5%


41.7%

Other Airport10.9%

YTD 2017 Actual

Airline32.3%


6.1%


42.2%

Other Airport10.7%

YTD 2016 Audited

50

% of Total 2017 vs.YTD Revenues 2017 Revenues 2016 2016 2015 2014Cash $853,550 10.6% $927,153 -7.9% $874,655 $853,969Credit Cards 1,197,368 14.9% 1,105,773 8.3% 901,635 828,154 Express Credit Card Machine 3,883,057 48.2% 3,897,892 -0.4% 3,149,459 2,669,610 Express EZ Pass 1,849,188 23.0% 1,699,388 8.8% 1,403,109 1,253,051 EZ Pass 238,604 3.0% 234,951 1.6% 230,528 219,934 Misc Parking Revenue (*) 32,185 0.4% 30,550 5.4% 33,010 28,856 Total Rev handled $8,053,951 100.0% $7,895,706 15.7% $6,592,396 $5,853,574 at the Parking Location

(*) Employee Parking, Over/Short, and adjustments


January (Actual) $1,257,733 $1,302,049 ($44,316) $1,255,963 0.1% $984,236 873,287

February (Actual) 1,232,330 1,303,380 (71,050) 1,255,458 -1.8% 985,671 861,169

March (Actual) 1,581,307 1,540,197 41,110 1,483,347 6.6% 1,281,754 1,138,210

April (Actual) 1,495,565 1,504,152 (8,587) 1,449,407 3.2% 1,268,723 1,054,492

May (Actual) 1,368,602 1,420,942 (52,340) 1,368,289 0.0% 1,119,251 1,032,806

June (ACTUAL) 1,118,414 1,119,790 (1,376) 1,083,242 3.2% 952,761 893,610 July (Projected) 1,111,464 1,130,310 (18,845) 1,091,119 1.9% 950,262 868,887

August (Projected) 1,123,105 1,142,148 (19,043) 1,101,308 2.0% 950,927 896,225

September (Projected) 1,175,960 1,195,899 (19,939) 1,155,036 1.8% 969,265 895,916

October (Projected) 1,314,097 1,336,378 (22,281) 1,290,474 1.8% 1,159,436 1,026,411

November (Projected) 1,300,700 1,322,755 (22,054) 1,258,315 3.4% 1,140,852 915,975

December (Projected) 1,099,799 1,118,447 (18,648) 1,078,518 2.0% 1,046,914 854,652

Total $15,179,077 $15,436,447 ($257,370) $14,870,476 2.1% $12,810,052 11,311,640

YTD Revenues $8,053,951 $8,190,510 ($136,559) $7,895,706 2.0% $6,592,396 5,853,574

YTD Enplanements 688,504 676,748 11,756 680,340 1.2% 616,450 583,926

Revenue Per Enplanement: $11.70 $12.10 ($0.40) $11.61 0.8% $10.69 $10.02

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

Jan Actual Feb Actual Mar Actual Apr Actual May Actual June Actual JulyProjected

AugProjected

SeptProjected

OctProjected

NovProjected

DecProjected


Albany International AirportPublic Parking Revenues 2014-2017For the six months ended June 30

51

Current Month2017 2017 2017 vs.

2017 Budget Variance 2016 2016 2015 2014

Short Term 85,628$ 90,595$ (4,967)$ 87,213$ -1.8% 84,037$ 78,528$

Long Term 343,200 306,200 37,000 302,294 13.5% 242,374 217,696

Garage 458,657 471,524 (12,867) 449,764 2.0% 419,566 402,751

E Lot 210,844 233,761 (22,917) 223,851 -5.8% 188,453 177,751

Commercial 0 17,710 (17,710) 0 0.0% 0 0

Employee Parking 20,832 0 20,832 19,321 7.8% 18,184 16,799

Customer Adjustments (692) 0 (692) (639) 8.3% 4 (203)

Short/Over (55) 0 (55) 1,438 -103.8% 143 288

Total 1,118,414$ 1,119,790$ (1,376)$ 1,083,242$ 3.2% 952,761$ 893,610$

YTD Revenues2017 2017 2017 vs.

2017 Budget Variance 2016 2016 2015 2014

Short Term 548,813$ 573,724$ (24,911)$ 552,309$ -0.6% 512,258$ 475,490$

Long Term 2,348,847 2,090,747 258,100 2,064,075 13.8% 1,612,651 1,350,093

Garage 3,527,475 3,686,031 (158,556) 3,515,930 0.3% 3,121,362 2,809,369

E Lot 1,600,560 1,813,151 (212,591) 1,736,283 -7.8% 1,317,013 1,192,523

Commercial 0 0 0 0 0.0% 0 0

Employee Parking 29,824 26,857 2,967 29,300 1.8% 29,261 26,389

Customer Adjustments (1,328) 0 (1,328) (1,795) -26.0% 781 308

Short/Over (240) 0 (240) (396) -39.4% (930) (597)

Total 8,053,951$ 8,190,510$ (136,559)$ 7,895,706$ 2.0% 6,592,396$ 5,853,574$

$-

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec

Short Term Parking

2017 2016 2015 2014

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000


Long Term Parking

2017 2016 2015 2014

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000


Garage Parking

2017 2016 2015 2014

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000


Economy Lot Parking

2017 2016 2015 2014

Albany International AirportPublic Parking by Parking Lots 2014-2017


52

Parking Activity 2017Monthly Totals

SHORT TERM / LOT A GARAGE LONG TERM / LOT D ECONOMY / LOT E Total# $ $ / # % # $ $ / # % # $ $ / # % # $ $ / # % $

January 22,639 $83,322 $3.68 6.6% 11,337 $598,700 $52.81 47.7% 8,396 $332,613 $39.62 26.5% 6,174 $239,913 $38.86 19.1% $1,254,548February 18,633 $81,320 $4.36 6.6% 10,939 $591,412 $54.06 48.0% 9,219 $334,938 $36.33 27.2% 6,140 $223,872 $36.46 18.2% $1,231,542March 24,542 $108,099 $4.40 6.8% 13,532 $697,868 $51.57 44.2% 12,044 $453,708 $37.67 28.7% 8,582 $319,949 $37.28 20.3% $1,579,624April 23,858 $95,344 $4.00 6.4% 12,235 $623,313 $50.95 41.7% 11,643 $457,671 $39.31 30.6% 8,653 $318,141 $36.77 21.3% $1,494,469May 25,585 $95,100 $3.72 7.0% 12,019 $557,525 $46.39 40.8% 11,201 $426,717 $38.10 31.2% 8,381 $287,841 $34.34 21.1% $1,367,183June 27,624 $85,628 $3.10 7.8% 10,645 $458,657 $43.09 41.8% 9,369 $343,200 $36.63 31.2% 6,144 $210,844 $34.32 19.2% $1,098,329July #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! $0August #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! $0September #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! $0October #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! $0November #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! $0December #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! $0

Total 142,881 $548,813 $3.84 6.8% 70,707 $3,527,475 $49.89 44.0% 61,872 $2,348,847 $37.96 29.3% 44,074 $1,600,560 $36.32 19.9% $8,025,695

Parking Activity 2017Cummulative Totals

SHORT TERM / LOT A GARAGE LONG TERM / LOT D ECONOMY / LOT E Total# $ $ / # % # $ $ / # % # $ $ / # % # $ $ / # % $

January 22,639 $83,322 $3.68 6.6% 11,337 $598,700 $52.81 47.7% 8,396 $332,613 $39.62 26.5% 6,174 $239,913 $38.86 19.1% $1,254,548February 41,272 $164,642 $3.99 6.6% 22,276 $1,190,112 $53.43 47.9% 17,615 $667,551 $37.90 26.9% 12,314 $463,785 $37.66 18.7% $2,486,090March 65,814 $272,741 $4.14 6.7% 35,808 $1,887,980 $52.73 46.4% 29,659 $1,121,259 $37.81 27.6% 20,896 $783,734 $37.51 19.3% $4,065,714April 89,672 $368,085 $4.10 6.6% 48,043 $2,511,293 $52.27 45.2% 41,302 $1,578,930 $38.23 28.4% 29,549 $1,101,875 $37.29 19.8% $5,560,183May 115,257 $463,185 $4.02 6.7% 60,062 $3,068,818 $51.09 44.3% 52,503 $2,005,647 $38.20 29.0% 37,930 $1,389,716 $36.64 20.1% $6,927,366June 142,881 $548,813 $3.84 6.8% 70,707 $3,527,475 $49.89 44.0% 61,872 $2,348,847 $37.96 29.3% 44,074 $1,600,560 $36.32 19.9% $8,025,695July 142,881 $548,813 $3.84 6.8% 70,707 $3,527,475 $49.89 44.0% 61,872 $2,348,847 $37.96 29.3% 44,074 $1,600,560 $36.32 19.9% $8,025,695August 142,881 $548,813 $3.84 6.8% 70,707 $3,527,475 $49.89 44.0% 61,872 $2,348,847 $37.96 29.3% 44,074 $1,600,560 $36.32 19.9% $8,025,695September 142,881 $548,813 $3.84 6.8% 70,707 $3,527,475 $49.89 44.0% 61,872 $2,348,847 $37.96 29.3% 44,074 $1,600,560 $36.32 19.9% $8,025,695October 142,881 $548,813 $3.84 6.8% 70,707 $3,527,475 $49.89 44.0% 61,872 $2,348,847 $37.96 29.3% 44,074 $1,600,560 $36.32 19.9% $8,025,695November 142,881 $548,813 $3.84 6.8% 70,707 $3,527,475 $49.89 44.0% 61,872 $2,348,847 $37.96 29.3% 44,074 $1,600,560 $36.32 19.9% $8,025,695December 142,881 $548,813 $3.84 6.8% 70,707 $3,527,475 $49.89 44.0% 61,872 $2,348,847 $37.96 29.3% 44,074 $1,600,560 $36.32 19.9% $8,025,695

53

2017 2017 2017 vs.YTD Revenues 2017 Budget Variance 2016 2016 2015 2014On Airport Rental Car Rev $2,098,243 $2,178,392 ($80,148) $2,075,023 $23,221 $2,147,156 $1,987,502Off Airport Rental Car Rev 92,414 61,183 31,231 56,809 35,605 63,841 10,927Total YTD $2,190,657 $2,239,575 ($48,918) $2,131,830 $58,827 $2,210,996 $1,998,429


January (Actual) $280,610 $287,817 ($7,208) $274,115 2.4% 284,404 $274,070

February (Actual) 269,050 277,148 (8,098) 263,953 1.9% 301,444 257,805

March (Actual) 300,825 323,282 (22,457) 307,890 -2.3% 348,412 291,209

April (Actual) 379,319 336,359 42,960 319,224 18.8% 338,312 296,073

May (Actual) 394,053 450,180 (56,126) 428,748 -8.1% 401,715 388,726June (ACTUAL) 566,799 564,789 2,009 537,901 5.4% 536,708 490,545July Projected 690,524 705,944 (15,420) 672,335 2.7% 643,819 606,920

August Projected 685,780 701,095 (15,314) 667,716 2.7% 662,360 626,900

September Projected 472,778 483,335 (10,558) 460,324 2.7% 449,815 434,842

October Projected 498,086 509,208 (11,123) 484,966 2.7% 460,830 461,736

November Projected 336,873 344,396 (7,523) 328,000 2.7% 317,243 317,843

December Projected 320,532 327,690 (7,158) 312,090 2.7% 308,350 407,685Total 5,195,228 $5,311,244 ($116,016) $5,057,262 2.7% 5,053,412 $4,854,354

YTD Revenues $2,190,655 $2,239,575 ($48,920) $2,131,831 2.8% $2,210,995 $1,998,428


Revenue Per Enplanement: $3.18 $3.31 -$0.13 $3.13 1.6% $3.59 $3.42

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000

$600,000

$650,000

$700,000


AugProjected

SepProjected

OctProjected

NovProjected

DecProjected


Albany International AirportRental Car Revenues 2014-2017


54

Sales per Enplanement: Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec YTD2017 McDonalds $1.06 $1.05 $1.00 $1.01 $0.96 $0.97 $1.01

HMS Host $3.78 $3.81 $3.94 $3.72 $3.96 $4.02 $3.87Greenleaf's $0.38 $0.45 $0.46 $0.45 $0.40 $0.39 $0.42Villa $0.47 $0.51 $0.47 $0.49 $0.48 $0.47 $0.48 Total 2017 $5.69 $5.82 $5.88 $5.67 $5.80 $5.84 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.78

Sales per Enplanement: Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec YTD2016 McDonalds $0.96 $0.98 $0.92 $0.96 $0.91 $0.94 $1.01 $0.97 $0.97 $0.97 $0.99 $1.03 $0.95

HMS Host $3.74 $3.79 $3.76 $3.72 $3.91 $4.00 $4.03 $3.79 $3.84 $3.73 $3.60 $3.94 $3.82Greenleaf's $0.42 $0.45 $0.46 $0.47 $0.46 $0.48 $0.45 $0.41 $0.37 $0.37 $0.39 $0.37 $0.46Villa $0.46 $0.51 $0.50 $0.54 $0.52 $0.55 $0.59 $0.58 $0.46 $0.45 $0.49 $0.53 $0.51 Total 2016 $5.57 $5.73 $5.64 $5.68 $5.80 $5.97 $6.08 $5.75 $5.63 $5.52 $5.47 $5.86 $5.73





ACAA Food & Beverage Revenues


January (Actual) $57,444 $64,088 ($6,644) $54,811 4.8% $53,077 $53,048

February (Actual) 57,118 64,292 (7,174) 56,890 0.4% 53,246 53,128

March (Actual) 68,502 75,064 (6,562) 65,702 4.3% 62,167 56,296

April (Actual) 65,228 53,965 11,263 65,817 -0.9% 44,693 54,396May (Actual) 67,955 67,844 111 66,960 1.5% 56,187 54,326

June (ACTUAL) 68,162 67,568 594 68,057 0.2% 55,959 51,376July Projected 71,837 73,409 (1,572) 76,561 -6.2% 60,796 61,827

August Projected 72,005 73,580 (1,576) 74,763 -3.7% 60,938 61,833

September Projected 65,710 67,148 (1,438) 65,090 1.0% 55,611 53,921

October Projected 69,824 71,352 (1,528) 68,546 1.9% 59,093 59,283

November Projected 67,344 68,818 (1,474) 70,403 -4.3% 56,994 55,328

December Projected 57,636 58,898 (1,261) 51,597 11.7% 48,778 56,136Total 788,766 $806,027 ($17,261) $785,197 0.5% $667,539 $670,898

YTD Revenues $384,410 $392,822 ($8,412) $378,237 1.6% $325,329 $322,570


Revenue Per Enplanement: $0.56 $0.58 ($0.02) $0.56 0.0% $0.53 $0.55

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000


AugProjected

SepProjected

OctProjected

NovProjected

DecProjected

Gross Food & Beverage Sales

2017 2016 2015 2014

Albany International AirportFood & Beverage Sales & Revenues 2014-2017


55

Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec YTD

Sales per Enplanement:

2017 $2.49 $2.67 $2.66 $2.74 $2.77 $2.87 $2.70

2016 $2.29 $2.44 $2.41 $2.50 $2.57 $2.77 $2.90 $2.83 $2.75 $2.65 $2.45 $2.53 $2.50

2015 $2.14 $2.35 $2.04 $2.01 $2.22 $2.64 $2.57 $2.55 $2.42 $2.33 $2.32 $2.31 $2.23

2014 $2.10 $2.23 $2.25 $2.24 $2.43 $2.55 $2.55 $2.50 $2.40 $2.27 $2.17 $2.22 $2.30

ACAA Retail Revenues


January (Actual) $65,706 $67,659 ($1,953) $65,583 0.2% $65,583 $55,583February (Actual) 55,583 57,343 (1,760) 55,584 0.0% 55,583 55,583March (Actual) 63,695 59,362 4,332 57,541 10.7% 57,891 55,583

April (Actual) 75,478 71,857 3,621 69,653 8.4% 63,275 55,583

May (Actual) 66,785 62,707 4,078 60,783 9.9% 55,583 55,583June (ACTUAL) 68,968 67,320 1,648 65,255 5.7% 55,887 55,583July (Projected) 91,006 88,717 2,289 85,995 5.8% 72,804 59,943August (Projected) 79,933 77,922 2,011 75,532 5.8% 62,991 60,219September (Projected) 67,286 65,593 1,692 63,581 5.8% 55,583 55,583

October (Projected) 79,827 77,819 2,008 75,432 5.8% 65,583 55,583November (Projected) 59,848 58,343 1,505 56,553 5.8% 55,583 55,583December (Projected) 58,822 57,342 1,480 55,583 5.8% 40,651 86,588Total $832,936 $811,985 $20,951 $787,075 5.8% $707,000 $707,000

#DIV/0!YTD Revenues $396,215 $386,248 $9,966 $374,399 5.8% $353,803 $333,500


Revenue Per Enplanement: $0.58 $0.57 $0.01 $0.55 5.5% $0.57 $0.57

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000


AugProjected

SepProjected

OctProjected

NovProjected

DecProjected

Gross Retail Sales

2017 2016 2015 2014

Albany International AirportRetail Sales & Revenues 2014-2017For the six months ended June 30

56


AvPortAirportOperations

57

Albany County Airport AuthoritySummary of AvPorts Expenses

2017 June 2017 June 2017 Actual/Adopted FY Budget Actual Variance Variance 2016 & Prior Year


EXPENSES BY CATEGORY

Personal Services 7,085,555$ 3,538,621$ 3,440,106$ 98,515$ 2.78% 3,150,779$ -9.18%Employee Benefits 3,242,250 1,643,138 1,567,671 75,467 4.59% 1,390,847 -12.71%Utilities & Communications 2,217,134 1,191,848 1,075,026 116,822 9.80% 1,089,281 1.31%Purchased Services Insurance 256,919 183,045 195,679 (12,634) -6.90% 173,825 -12.57% Public Safety 264,450 132,225 123,844 8,381 6.34% 110,229 -12.35% Albany County Sheriffs 2,578,024 1,289,012 1,289,012 0 0.00% 1,262,108 -2.13% Parking Valet Service 360,000 180,000 213,336 (33,336) -18.52% 48,881 -336.44% Employee Shuttle 20,000 0 10,000 (10,000) 0.00% 0 0.00% Janitorial 481,268 240,634 230,846 9,788 4.07% 200,261 -15.27% Public Communications 472,848 227,670 231,026 (3,356) -1.47% 216,353 -6.78% Special Studies 32,500 16,250 2,635 13,615 83.78% 9,190 71.33% Professional Services 495,000 247,500 211,580 35,920 14.51% 216,620 2.33%Total Purchased Services 4,961,009 2,516,336 2,507,958 8,378 0.33% 2,237,467 12.09%

Material & Supplies Airfield 856,000 436,908 375,162 61,746 14.13% 233,262 -60.83% Buildings 1,922,913 979,708 1,035,370 (55,662) -5.68% 899,355 -15.12% Grounds 734,585 439,916 389,713 50,203 11.41% 325,612 -19.69% Vehicles 565,200 289,376 298,133 (8,757) -3.03% 234,231 -27.28%Total Material & Supplies 4,078,698 2,145,908 2,098,378 47,530 2.21% 1,692,460 23.98%Office 219,032 108,256 59,823 48,433 44.74% 47,289 -26.51%Administration 563,385 281,456 279,431 2,025 0.72% 266,423 -4.88%Total Expenses 22,367,063$ 11,425,563$ 11,028,393$ 397,170$ 3.48% 9,874,546$ -11.69%

DEPARTMENT SUMMARY (DIRECT & INDIRECT)Direct Cost Centers Airfield 3,123,885$ 1,614,936$ 1,540,995$ 73,941$ 4.58% 1,251,445$ -23.14% Terminal 5,293,499 2,713,734 2,788,532 (74,798) -2.76% 2,459,242 -13.39% Loading Bridges 279,240 139,445 137,044 2,401 1.72% 86,808 -57.87% Parking 4,498,770 2,324,374 2,066,800 257,574 11.08% 1,726,082 -19.74% Landside 1,131,067 595,075 563,602 31,474 5.29% 542,980 -3.80%Total Direct Cost Centers 14,326,461 7,387,564 7,096,973 290,592 3.93% 6,066,557 -16.99%

Indirect Cost Center ARFF 2,004,008 985,518 916,486 69,032 7.00% 1,005,216 8.83% Operations 895,695 451,100 460,763 (9,663) -2.14% 411,805 -11.89% Security 2,922,914 1,462,746 1,433,099 29,647 2.03% 1,383,430 -3.59% Vehicles & Equipment 1,343,551 701,111 685,956 15,155 2.16% 598,944 -14.53% Airport Mgmt Administration 874,434 437,524 435,119 2,405 0.55% 408,595 -6.49%Total Indirect Cost Centers 8,040,602 4,037,999 3,931,423 106,576 2.64% 3,807,990 -3.24%

Total Expenses 22,367,063$ 11,425,563$ 11,028,396$ 397,168$ 3.48% 9,874,547$ -11.69%

58

Total AnnualBudget

This MonthBudget

This MonthActual

Var this MoTo Buget

Year to DateBudget

Year to DateActual

Var this Yrto Budget

EXPENSES

Personal Services11000 Salaries $6,582,615 $506,355 $573,211 ($66,856) $3,291,307 $2,984,412 $306,89512010 Overtime 1.5 469,610 19,052 51,529 (32,477) 228,195 411,946 (183,751)12020 Overtime 2.0 33,330 1,842 2,213 (372) 19,119 43,748 (24,629)

Total Personal Services 7,085,555 527,249 626,954 (99,705) 3,538,621 3,440,106 98,515

Employee Benefits21000 Social Security 512,547 39,427 46,440 (7,014) 256,274 255,170 1,10422000 Health Insurance 1,916,994 159,750 158,209 1,541 958,497 951,689 6,80824000 Medical Exams 18,500 1,542 1,827 (285) 9,250 9,969 (719)25000 Uniforms & Laundry 38,250 3,188 2,442 745 19,125 19,759 (634)25005 Uniform Purchases 32,800 2,733 1,945 789 16,400 6,109 10,29126010 Disability Insurance 114,770 8,828 1,404 7,424 57,385 60,768 (3,383)26020 Unemployment Insurance 49,719 309 516 (207) 46,872 39,697 7,17526030 Workers Compensation 464,560 38,713 26,011 12,702 232,280 156,066 76,21429001 Airport & FBO 401K 94,110 7,239 12,494 (5,254) 47,055 68,443 (21,388)

Total Employee Benefits 3,242,250 261,729 251,288 10,441 1,643,138 1,567,671 75,467

Utilities & Communications31000 Electric 1,636,250 145,996 56,641 89,355 815,347 721,526 93,82133000 Natural Gas 283,000 14,662 11,470 3,192 181,059 154,596 26,46434000 Sewer 93,000 0 0 0 93,000 85,860 7,14035000 Water 110,000 0 0 0 55,000 67,551 (12,551)36010 Telephone Charges-Local 13,220 1,102 1,085 17 6,610 6,504 10636011 Tele Chg-Long Dist 625 52 44 8 312 230 8236012 Telephone - Sheriff 4,200 350 338 12 2,100 2,024 7636017 Payphones-Annual & Mo Serv 22,000 1,833 1,770 64 11,000 10,599 40136018 Payphones-Monthly Usage 600 50 28 22 300 125 17536020 Telephone Repairs 5,000 417 0 417 2,500 2,500 036030 Telephone-Cellular 45,000 3,750 1,575 2,175 22,500 21,390 1,11036060 Cable Television 4,239 353 353 0 2,120 2,120 0

Total Utilities & Communications 2,217,134 168,565 73,304 95,261 1,191,848 1,075,026 116,822

PURCHASED SERVICES

Insurance42010 Airport Liability Insurance 5,750 479 479 0 2,875 2,396 47942020 Automotive Insurance 59,347 4,984 5,050 (66) 39,411 46,355 (6,944)42060 Property Insurance 176,322 14,438 14,498 (61) 133,009 131,837 1,17242095 Insurance Claims 15,500 1,292 2,091 (800) 7,750 15,091 (7,341)

Total Insurance 256,919 21,193 22,119 (926) 183,045 195,679 (12,634)

Public Safety44000 Public Safety 2,578,024 214,835 214,835 0 1,289,012 1,289,012 044005 Outside Security Services 256,450 21,371 21,174 197 128,225 118,359 9,86644010 Armored Car Service 8,000 667 667 0 4,000 5,485 (1,485)44020 Parking Valet Service 360,000 30,000 36,568 (6,568) 180,000 213,336 (33,336)44030 Employee Shuttle Service 20,000 0 10,000 (10,000) 0 10,000 (10,000)

Total Public Safety 3,222,474 266,873 283,244 (16,372) 1,601,237 1,636,192 (34,955)

Janitorial45000 Janitorial Services 423,268 35,272 59,578 (24,306) 211,634 204,665 6,969

ALBANY COUNTY AIRPORT AUTHORITYDetail of AvPorts Departments


59

Total AnnualBudget

This MonthBudget

This MonthActual

Var this MoTo Buget

Year to DateBudget

Year to DateActual


45010 Refuse Removal Services 58,000 4,833 4,703 131 29,000 26,182 2,818Total Janitorial 481,268 40,106 64,281 (24,175) 240,634 230,846 9,788

Public Communications46012 Artistic Exhibits 95,004 13,293 4,284 9,009 49,605 31,150 18,45546013 Museum Shop 238,000 18,671 28,321 (9,650) 108,143 130,024 (21,881)46020 Passenger Information Booth 139,844 11,654 11,642 12 69,922 69,852 70

Total Public Communications 472,848 43,618 44,247 (629) 227,670 231,026 (3,356)

Studies47000 Special Studies 25,000 2,083 0 2,083 12,500 0 12,50047010 GIS Services 7,500 625 0 625 3,750 2,635 1,115

Total Studies 32,500 2,708 0 2,708 16,250 2,635 13,615

Professional Services49005 Appraisal 0 0 0 0 0 600 (600)49010 Architectural 50,000 4,167 0 4,167 25,000 2,500 22,50049020 Engineering Services 35,000 2,917 1,080 1,837 17,500 3,480 14,02049040 Professional Management 410,000 34,167 34,167 0 205,000 205,000 0

Total Professional Services 495,000 41,250 35,247 6,003 247,500 211,580 35,920

Total Purchased Services 4,961,009 415,748 449,138 (33,390) 2,516,336 2,507,959 8,377

MATERIALS & SUPPLIES

Airfield51010 Fencing 8,000 1,642 5,666 (4,024) 2,647 7,961 (5,314)51011 Airfield Lighting 100,000 10,962 342 10,620 62,839 12,816 50,02351014 Pavement Repairs 10,000 875 0 875 1,259 348 91151015 Apron Maintenance 10,000 35 0 35 35 37,946 (37,911)51016 Runway Painting 30,000 4,443 22,314 (17,870) 11,052 22,314 (11,262)51017 Airfield Shop Supplies 16,000 1,333 1,485 (151) 8,000 12,971 (4,971)51019 Snow Removal Supplies 250,000 0 0 0 130,597 89,323 41,27451020 Rubber Removal 35,000 4,244 0 4,244 8,488 16,681 (8,193)51030 EMS Supplies 16,000 1,333 (269) 1,602 8,000 3,854 4,14651031 ARFF Supplies 20,000 1,667 0 1,667 10,000 896 9,10451032 Hazardous Material Supplies 6,000 500 0 500 3,000 0 3,00051033 Foam 24,000 2,000 0 2,000 12,000 7 11,99351051 Glycol Disposal 3,500 292 0 292 1,750 0 1,75051052 Wastewater Conveyance 7,500 0 0 0 7,500 7,500 051053 Electric 100,000 7,170 5,927 1,243 70,678 71,282 (604)51054 Sewer District Charges 5,000 0 0 0 5,000 5,000 051055 Water District Charges 15,000 876 2,259 (1,383) 7,380 11,228 (3,848)51057 System Maint & Repairs 200,000 15,233 7,611 7,622 86,682 75,035 11,648

Total Airfield 856,000 52,606 45,334 7,272 436,908 375,162 61,746

Buildings52010 Alarm & PA Systems 62,900 5,242 1,246 3,996 31,450 55,919 (24,469)52012 Card Access Control 45,000 3,750 1,564 2,186 22,500 15,603 6,89752013 CTV Repair 15,000 1,250 609 641 7,500 19,044 (11,544)52014 Key Access System 14,000 1,167 0 1,167 7,000 8,559 (1,559)52020 Baggage System 20,000 1,667 0 1,667 10,000 4,144 5,85652031 Electrical Repairs & Supplies 106,800 8,900 17,045 (8,145) 53,400 130,390 (76,990)



60

Total AnnualBudget

This MonthBudget

This MonthActual

Var this MoTo Buget

Year to DateBudget

Year to DateActual


52032 Elevator Repairs & Supplies 140,000 11,667 310 11,356 70,000 56,187 13,81352033 HVAC 189,000 16,942 76,449 (59,507) 106,109 142,139 (36,030)52034 Roof 22,500 1,875 475 1,401 11,250 18,642 (7,392)52035 Plumbing Repairs & Supplies 44,000 3,667 4,052 (386) 22,000 16,209 5,79152036 Automatic Door Repairs 9,000 750 667 83 4,500 667 3,83352037 Pest Control 15,160 1,263 1,150 113 7,580 8,793 (1,213)52040 Fire Equipment Services 6,000 500 499 1 3,000 3,359 (359)52041 Fire Equipment Testing 2,800 233 0 233 1,400 149 1,25152050 US Customs 25,000 1,685 33 1,652 9,286 11,297 (2,011)52051 Control Tower 300,000 22,256 15,388 6,869 159,856 167,086 (7,230)52060 Building Maintenance 593,968 49,497 25,577 23,921 296,984 229,845 67,13952062 Janitorial Supplies 153,500 12,792 16,570 (3,778) 76,750 84,299 (7,549)52063 Window Washing 59,043 4,920 4,964 (44) 29,522 26,622 2,89952071 ID Tags 22,000 1,833 1,794 40 11,000 11,223 (223)52080 Sign Expense 4,000 333 1,385 (1,052) 2,000 1,727 27352090 Flight Information Displays 73,242 6,104 4,679 1,424 36,621 23,469 13,152

Total Buildings 1,922,913 158,293 174,455 (16,162) 979,708 1,035,370 (55,662)

Grounds53010 Landscaping 25,100 4,415 913 3,502 13,322 6,096 7,22753020 Fencing 1,500 125 0 125 750 0 75053030 Pavement Repairs 38,000 7,600 0 7,600 22,800 786 22,01453035 Utitlity Repairs 500 42 0 42 250 0 25053040 Sign Expense 10,000 833 247 586 5,000 5,237 (237)53041 Traffic Light Repairs 2,000 167 0 167 1,000 0 1,00053045 Catch Basin Maintenance 3,000 250 0 250 1,500 0 1,50053048 Snow Removal Supplies 70,000 0 0 0 48,837 4,024 44,81353050 Snow Removal Services 255,600 0 0 0 192,276 247,126 (54,850)53051 NYS Police Hangar Maint 125,000 12,410 3,981 8,429 56,469 70,268 (13,799)53060 Dump Fees - Landfill 3,650 304 0 304 1,825 0 1,82553070 Hazardous Waste Mgmt 6,800 567 0 567 3,400 4,675 (1,275)53071 Wildlife Hazard Management 28,000 2,333 0 2,333 14,000 167 13,83353078 Liquid Waste Disposal 25,000 2,083 0 2,083 12,500 0 12,50053085 Land Lease 15,435 1,286 1,286 0 7,718 7,718 053090 T-Hangar Facility Maintenance 125,000 7,776 6,921 855 58,270 43,617 14,652

Total Grounds 734,585 40,192 13,349 26,843 439,916 389,713 50,203

Vehicles54010 Gasoline 50,000 4,610 3,734 875 31,696 26,662 5,03454011 Diesel Fuel 105,200 3,104 2,129 975 59,976 62,185 (2,208)54012 Oil / Grease 29,000 2,417 6,153 (3,736) 14,500 15,362 (862)54015 CNG Fuel 28,000 2,320 1,729 591 15,540 13,282 2,25954013 Vehicle / Equipment Tires 39,000 3,250 275 2,975 19,500 9,510 9,99054021 Vehicle Repair & Maintenance 52,000 4,333 4,267 66 26,000 30,996 (4,996)54022 Vehicle Communication Equip 7,000 583 1,950 (1,367) 3,500 3,104 39654023 Sheriff Vehicle Repair & Maint 0 0 0 0 0 39 (39)54030 General Equip Repair & Maint 60,000 2,381 941 1,440 23,296 31,772 (8,477)54040 Heavy Equipment Maint 50,000 3,429 1,806 1,623 28,070 18,774 9,29654045 ARFF Vehicle Repair & Maint 20,000 1,667 1,355 312 10,000 6,698 3,30254050 Snow Equip Repair & Maint 80,000 34 6,283 (6,249) 36,149 46,881 (10,732)54060 Mower Repair & Maintenance 10,000 1,171 742 429 3,649 4,420 (771)54070 Vehicle Shop Tools & Supplies 35,000 2,917 4,510 (1,593) 17,500 28,450 (10,950)

Total Vehicles 565,200 32,216 35,874 (3,658) 289,376 298,133 (8,757)



61

Total AnnualBudget

This MonthBudget

This MonthActual

Var this MoTo Buget

Year to DateBudget

Year to DateActual


Total Material & Supplies 4,078,698 283,307 269,012 14,294 2,145,907 2,098,378 47,529

Office55010 Office Equipment Rental 5,892 491 469 22 2,946 2,519 42755011 Copy Machine Use 100 8 0 8 50 616 (566)55012 Office Equipment Serv Agrmnt 4,913 643 631 12 2,628 2,577 5155013 Office Equipment Repairs 200 17 0 17 100 267 (167)55014 Computer System Supplies 45,150 3,763 1,808 1,954 22,575 4,105 18,47055015 Hardware/Software Maint 80,227 7,825 1,500 6,325 38,682 14,923 23,75955016 Computer Equipment 6,500 542 0 542 3,250 11,132 (7,882)55020 Office Furniture & Fixtures 4,050 338 270 68 2,025 831 1,19455030 Printed Forms / Letterhead 4,200 350 206 144 2,100 709 1,39155031 Parking Ticket Stock 16,000 1,333 0 1,333 8,000 2,608 5,39255032 Printing Outside Services 100 8 0 8 50 0 5055041 Express Mail 500 42 33 8 250 274 (24)55050 Reference Materials 1,200 100 0 100 600 261 33955060 Office Supplies 15,000 1,250 1,153 97 7,500 4,761 2,73955070 Payroll Services 35,000 2,917 2,465 452 17,500 14,240 3,260

Total Office 219,032 19,626 8,535 11,091 108,256 59,823 48,433

Administration66000 Dues & Subscriptions 9,950 831 0 831 8,180 7,669 51166002 A.A.A.E. Memberships 550 46 0 46 275 550 (275)66010 AvPorts/MA Training & Travel 73,085 2,823 3,051 (228) 28,339 27,187 1,15166013 Function Refreshments 500 42 0 42 250 0 25066030 Advertising - Public Meetings 2,000 167 0 167 1,000 0 1,00066031 Economic Development 10,000 833 0 833 5,000 0 5,00066040 License & Permits 2,300 0 0 0 0 100 (100)66050 Property Taxes 40,000 0 0 0 20,000 10,910 9,09066060 Credit Card Service Charges 315,000 28,596 32,262 (3,666) 160,753 171,811 (11,058)66061 EZ Pass Fees 110,000 8,543 8,290 252 57,660 61,204 (3,544)

Total Administration 563,385 41,880 43,603 (1,723) 281,456 279,431 2,025

Total Expenses 22,367,063 1,718,102 1,721,833 (3,732) 11,425,563 11,028,395 397,168

83000 Non Capital Equipment 149,490 12,458 0 12,458 74,745 155,029 (80,284)Total Exp & Non Cap Equip. 22,516,553 1,730,559 1,721,833 8,726 11,500,308 11,183,423 316,885



62

Variance

Budget As of As of As of As of As of As of As of As of As of As of As of As of Budget vs.

2017 Jan 31, 17 Feb 28, 17 Mar 31, 17 Apr 30, 17 May 31,17 Jun 30,17 Jul 31,17 Aug 31,17 Sep 30,17 Oct 31,17 Nov 30,17 Dec 31,17 Jun 30,17

AIRPORT MANAGEMENT - AVPORTS:Airfield

Maintenance Manager 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Deputy Maintenance Manager 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Airport Maintenance Supervisor 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Airport Maintenance Lead-Airfield 2.00 2.00 2.00 2.00 2.00 2.00 2.00 0.00Electrician 2.00 2.00 1.00 1.00 1.00 1.00 1.00 -1.00Airport Maintenance Tech-Electrical 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Airport Maintenance Lead-Grounds 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Airport Maint Tech Lead-Glycol 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Airport Maint Tech -Chief Glycol 0.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00Airport Maint Tech-Glycol 4.00 3.00 3.00 3.00 3.00 3.00 3.00 -1.00Airport Maint Tech Airfield 12.00 9.00 9.00 9.00 9.00 9.75 9.00 -3.00Secretary 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.00

TerminalFacilities Manager 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Facilities Coordinator 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.00Facilities Maint Lead 2.00 2.00 2.00 2.00 2.00 2.00 2.00 0.00Facilities Maint Lead-HVAC 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Facilities Maint Technician 5.00 4.00 4.00 4.00 4.00 4.00 4.00 -1.00Custodial Supervisor 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Custodial Lead 5.00 4.00 4.00 4.00 4.00 4.00 4.00 -1.00Custodial Worker 18.00 19.00 19.00 19.00 18.00 17.00 18.00 0.00Floor Care Technician 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Airport Custodial Technician 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Artistic Exhibits 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.00Museum Shop 5.50 4.25 4.25 4.25 4.25 4.25 4.25 -1.25

Loading BridgesFacilities Maint Lead-Loading Bridge 2.00 2.00 2.00 2.00 2.00 2.00 2.00 0.00

ParkingDeputy, Commercial Services 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Parking Supervisor 2.00 2.00 2.00 2.00 2.00 2.00 2.00 0.00Lead Cashier 5.00 3.00 3.00 3.00 3.00 3.00 3.00 -2.00Cashier, Full Time 14.00 12.00 13.00 13.00 13.00 13.00 14.00 0.00Cashier, Part Time - FTE 2.50 0.00 0.00 0.00 0.00 0.00 0.00 -2.50Shuttle Operator Lead 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Shuttle Detailer 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Shuttle Operator, Full Time 10.00 12.00 12.00 12.00 12.00 12.00 12.00 2.00Shuttle Operator, Part Time - FTE 3.00 0.00 0.50 0.50 0.50 0.50 0.50 -2.50Lead Parking Maint Tech 1.00 0.00 0.00 0.00 0.00 0.00 0.00 -1.00Parking Assistant 1.00 1.00 1.00 1.25 1.00 1.25 1.25 0.25Parking Maint Technician 4.00 4.00 4.00 4.00 4.00 4.00 4.00 0.00

SecurityCurbside Monitors, Full Time 4.00 3.00 4.00 4.00 3.00 4.00 4.00 0.00Curbside Monitors, Part Time - FTE 2.50 2.00 1.50 2.00 1.50 1.50 1.50 -1.00

LandsideTower/Custodial 2.00 2.00 2.00 2.00 2.00 2.00 2.00 0.00Admin Building/Custodial 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.00

ARFFChief/Safety Manager 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Captains/Safety Supervisor 4.00 4.00 4.00 4.00 4.00 4.00 4.00 0.00Firefighters/Safety Officer 16.00 14.00 15.00 15.00 14.00 14.00 14.00 -2.00

OperationsAirport Operations Manager 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Airport Security Supervisor 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Asst Airport Security Supervisor 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Airport Operations Supervisor 5.00 5.00 5.00 5.00 5.00 5.00 5.00 0.00Airport Operations Officer 4.00 4.00 3.00 3.00 4.00 4.00 4.00 0.00Receptionist 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00

Vehicles & EquipmentAirport Maint Lead-Vehicle Maint 2.00 2.00 2.00 2.00 2.00 2.00 2.00 0.00Inventory Control Specialist 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Airport Maint Tech-Vehicle Maint 8.00 7.00 8.00 8.00 8.00 8.00 8.00 0.00

Administration 3.50 3.50 3.50 3.50 3.50 3.50 3.50 0.00Total AvPORTS Positions 173.00 154.75 156.75 157.50 154.75 155.75 157.00 0.00 0.00 0.00 0.00 0.00 0.00 -16.00

Albany International AirportEmployee Count 2017

63

Year to Date Year to DateBudget Actual Variance

Personnel Services

Regular - Salaries 2,761,797$ 2,583,240$ 178,557$

Holiday Pay 96,104 77,619 18,485

Other Dollars/Funeral/Jury/Retro 123,382 100,273 23,109

Shift Premium 46,692 43,063 3,629

Lead Pay 8,372 6,185 2,187

Sick Pay 52,932 57,378 (4,446)

Personal Pay - - -

Vacation Pay 202,028 116,654 85,374

Sub Total 3,291,307 2,984,412 306,895

Overtime 228,195 411,946 (183,751)

Double Time Pay 19,119 43,748 (24,629)

Total 3,538,621 3,440,106 98,515

Employee Benefits

Social Security & Medicare 256,274 255,170 1,104

Federal Unemployment Tax 7,750 6,548 1,202

NYS Unemployment 39,122 33,149 5,973

Workers Compensation 232,280 156,066 76,214

401 (K) Plan Match 47,055 68,443 (21,388)

Health & Dental Insurance 1,086,635 1,079,117 7,518

Employee Benefits Deductions (128,138) (127,428) (710)

Disability/Life Insurance 57,385 60,768 (3,383)

Total 1,598,363 1,531,833 66,530

Total Salaries and Benefits 5,136,984$ 4,971,939$ 165,045$

Personnel Services & BenefitsFor the six months ended June 30, 2017

AFCO (AvPorts)

64

Airfield Performance Measurements

2014 Final 2015 Final 2016 Final 2017 Budget2017 YTD

Actual

Number of vehicle accidents on Airfield over $1,000 0 1 1 0 1

Airport remained open for all airline operations 100% 100% 100% 100% 100%

Electrical work-orders 659 621 727 700 479

SPEDES permit sanctions 0 0 0 0 0

Gallons of deicing aircraft storm water fluid collected 18,495,907 15,586,695 13,606,000 25,000,000 18,201,000ygwater removed (the higher the better) 2.7% 3.1% 2.9% 3.0% 3.3%

Employees with CDL licenses 34 35 34 40 37

Runway incidents 1 0 0 0 0

Notices to Airmen (NOTAMs) for airfield lighting 1 54 66 0 7

Occupational Safety and Health Administration (OSHA) reportable incidents 1 7 2 0 0

Liquid potassium acetate used on runways (avg gallons per snow ice event) 3,000 1,768 785 10,000 2,294

Airfield electric usage (KWH) 475,158 595,519 636,751 635,000 376,185

Overtime/Personnel Services (%) 10.5% 14.1% 11.3% 7.6% 19.7%

Terminal Performance Measurements


Actual

HVAC Equipment in operation 97.9% 100.0% 100.0% 100.0% 100.0%

Work Orders 3,587 3,413 3,586 3,600 1,764

Survey: cleanliness of the terminal 98% N/A N/A 80% N/A

Average # of days a work order remains open 3.0 2.5 2.5 2.5 2.8

Plumbing Equipment in operation 100% 100% 100% 100% 100%

Terminal Maintenance direct cost per square foot $15.87 $16.63 $18.38 $18.45 $9.59

Terminal electrical usage (KWH): 79 Building 1,563,618 1,569,493 1,547,262 1,560,000 1,547,262

Terminal electrical usage (KWH): 98 Building 7,681,612 7,700,324 7,339,716 7,500,000 7,339,716


Loading Bridge Performance Measurements


Actual

Direct Cost per Loading Bridge $12,773 $25,158 $20,933 $21,480 $10,542

Airline Employees trained 2 11 2 5 0

Over-the-Wing (OTW) Loading Bridge total operations 4,238 3,881 4,278 4,300 2,136

Loading Bridge electrical usage (KWH) (6.1% of 98 building gets allocated) 665,594 667,216 635,970 640,000 635,970

OTW Loading Bridge Maintenance calls (new measurement for 2009) 4 59 93 10 52

OTW Loading Bridge out of service (new measurement for 2009) 1.8% 10.9% 19.5% 0.0% 26.4%


Parking Performance Measurements


Actual

Express parking transactions 290,517 308,094 327,771 325,000 172,724

Cashier parking transactions 321,395 315,367 322,647 312,000 146,810

Cashier parking transaction errors 93 109 110 105 34

Shuttle Bus Survey (new measurement for 2008) N/A N/A N/A 85% N/A

Customer/Vehicle Contact N/A 0 0 0 0

OSHA recordable accidents 1 6 6 0 2

Parking electrical usage (KWH) 352,612 345,278 348,356 345,000 348,356

Parking Garage electrical usage (KWH) (23.5% of 98 building gets allocated) 2,564,174 2,570,421 2,450,047 2,500,000 2,450,047

YTD Loss/Gain -$399 -$1,178 -$1,080 -$1,026 -$185


Albany International Airport2017 AvPort's Performance Measurements


65

Landside Performance Measurements


Actual

Number of tenants 56 53 53 53 54

Landside building rental (Sq ft) * 279,026 316,243 327,108 324,912 320,369

Landside land rental (acres)* 32 31 34 34 36Tenant complaints 0 0 0 0 0

*Includes rented space/land only

ARFF Performance Measurements


Actual

Annual Dispatch Calls 394 527 536 550 356

Tour conducted by ARFF 23 36 34 35 14

AED classes conducted 22 2 27 15 18

Fire Extinguishers inspected/serviced 5,743 5,904 5,711 5,600 2,808

NYS Fire Fighter training (training hours) 1,992 1,992 504 1,900 252

OSHA required fire training (training hours) 156 156 156 156 78

NYS EMT training (training hours) 480 480 480 480 240

FAA ARFF training (training hours) 516 516 516 516 258

Building code inspections 19 30 52 20 21


Operations Performance Measurements


Actual

Work Orders (Facility) Building Maintenance calls 3,315 3,491 3,698 3,500 1,825

Work Orders (139) aeronautical areas 448 793 729 750 596

Notice to airmen (NOTAMS) 1,261 1,158 978 1,000 818

Bird Strikes 42 27 48 15 52

Property Damage Reports 164 154 147 140 100

Bodily Injury Reports 222 185 248 200 113

FAA 139 Inspections discrepancies 9 9 18 5 9

Operations' employee accidents 0 0 0 0 0

Operations' property accidents 0 0 2 0 0


Security Performance Measurements


Actual

Security Trainees 667 559 686 600 351

Driver Trainees 377 277 408 300 214

Finger Printing 689 727 763 1100 378

Badges Issued 174 130 166 200 98

Revalidations* 602 521 656 400 388

Escort Required Badges Issued 2,672 3,524 2,840 2,500 1,166

Business Center Security Passes 775 186 169 100 48

Curbside Accidents 0 0 0 0 0

Curbside Security - Overtime/Personnel Services (%) 3.8% 10.9% 8.6% 2.1% 3.6%

*Revalidations of badges are performed every other year

Vehicle Maintenance Performance Measurements


Actual

Heavy Equipment (Units) 61 47 47 45 47

Light Vehicles (Units) 47 34 34 36 34

Light Equipment (Units) 233 233 233 230 233

Average age of ARFF Fleet (yrs) 7 9 9 7 8

Average age of Shuttle Buses (yrs) 7 4 4 4 3

Average age of Fuel Trucks (yrs) 10 12 12 13 14

Average age of other large vehicles 15 17 17 15 16

Average age of Pick-ups 11 15 15 16 10

Shuttle Bus (Not less than 6 operational) 6 7 7 7 7

Fuel Truck (Not less than 7 operational) 8 7 7 7 7

Technicians trained 1 33 0 2 12


AvPort's Administration Performance Measurements


Actual

AvPort's total full time employment equivalents 154.5 150.5 154.3 173.0 157.0

Total AvPort's overtime 10.5% 13.6% 12.4% 7.1% 13.2%

Budgetary needs met yes yes yes yes Yes

Saving/revenue producing ideas 0 0 0 1 0

Total AvPorts Property Damage Reports 24 35 16 29 13

Administration Overtime/Personnel Services (%) 0.0% 0.0% 0.0% 0.0% 0.0%

Employee turnover 19.9% 27.0% 15.9% 19.0% 9.4% N/A for May

66


Million Air FBO

Operations

67

TOTALBudget Actual Budget Actual Budget Actual Budget Actual Variance

REVENUES Retail Fuel Jet A Fuel Sales -$ -$ 1,929,707$ 1,957,853$ -$ -$ 1,929,707$ 1,957,853$ 28,146$ AvGas Fuel Sales - - 146,003 135,474 - - 146,003 135,474 (10,529) Commercial AvGas Fuel Sales 274,626 225,595 - - - - 274,626 225,595 (49,031) Auto & Diesel Fuel Sales 139,027 147,592 - - - - 139,027 147,592 8,565 Retail Fuel Sales 413,653 373,187 2,075,710 2,093,327 - - 2,489,363 2,466,514 (22,849) Into Plane Fees 327,670 325,485 - - - - 327,670 325,485 (2,185) Fuel Farm Fees 292,617 297,684 - - - - 292,617 297,684 5,067 General Aviation Landing Fees - - 127,580 107,972 - - 127,580 107,972 (19,608) Aircraft Parking Fees - - 89,391 65,994 - - 89,391 65,994 (23,397) Deicing Services 645,670 649,540 20,612 17,672 - - 666,282 667,212 930 FBO Properties - - 172,303 168,513 - - 172,303 168,513 (3,790) FBO Services - - 28,817 31,090 - - 28,817 31,090 2,273 TOTAL REVENUES 1,679,610$ 1,645,896$ 2,514,413$ 2,484,568$ -$ -$ 4,194,023$ 4,130,464$ (63,559)$

COST OF SALES ( ) Fuel Costs - Jet A - - 979,112 1,039,160 - - 979,112 1,039,160 60,048 Fuel Volume Discounts - Jet - - 157,729 129,309 - - 157,729 129,309 (28,420) Fuel Costs - AvGas - - 106,415 106,577 - - 106,415 106,577 162 Fuel Volume Discounts - AvGas - - 2,308 2,333 - - 2,308 2,333 25 Fuel Costs - Commercial AvGas 243,742 202,044 - - - - 243,742 202,044 (41,698) Fuel Costs - Auto & Diesel 108,632 110,422 - - - - 108,632 110,422 1,790 Fuel Costs 352,374 312,466 1,245,564 1,277,379 - - 1,597,938 1,589,845 (8,093) Deicing Costs - Type I & IV 445,725 396,206 - - - - 445,725 396,206 (49,519) Catering, Oil & Other - - 2,650 1,894 - - 2,650 1,894 (756) Total Cost of Sales 798,099 708,672 1,248,214 1,279,273 - - 2,046,313 1,987,945 (58,368) Net Operating 881,511$ 937,224$ 1,266,199$ 1,205,295$ -$ -$ 2,147,710$ 2,142,519$ (5,191)$

EXPENSES ( ) Personal Services Salaries 205,275$ 206,882$ 318,413$ 281,520$ 98,170$ 95,830$ 621,858$ 584,232$ 37,626$ Overtime 24,792 33,086 30,450 57,747 - - 55,242 90,833 (35,591) Total Personal Services 230,067 239,968 348,863 339,267 98,170 95,830 677,100 675,065 2,035 Employee Benefits 90,265 81,292 152,040 147,166 43,895 29,776 286,200 258,234 27,966 Utilities & Communications 12,279 10,227 47,721 37,356 755 794 60,755 48,377 12,378 Purchased Services 93,315 66,983 50,961 73,508 174,184 173,684 318,460 314,175 4,285 Materials & Supplies - - - Buildings 7,600 1,990 33,797 36,979 - - 41,397 38,969 2,428 Grounds 27,500 4,295 650 11,982 - - 28,150 16,277 11,873 Vehicles 56,356 112,669 33,318 27,967 - - 89,674 140,636 (50,962) Total Materials & Supplies 91,456 118,954 67,765 76,928 - - 159,221 195,882 (36,661) Office & Admistration - - 91,973 82,211 25,673 19,010 117,646 101,221 16,425 Non-Capital Equipment - - - - - - - - - TOTAL EXPENSES 517,382 517,424 759,323 756,436 342,677 319,094 1,619,382 1,592,954 26,428

FBO Net Direct Cost 364,129$ 419,800$ 506,876$ 448,859$ (342,677)$ (319,094)$ 528,328$ 549,565$ 21,237$

Allocation of Indirect Cost Centers ARFF 29,566 27,495 29,566 27,495 59,131 54,989 4,142 Operations 22,555 23,038 22,555 23,038 45,110 46,076 (966) Security 14,627 14,331 14,627 14,331 29,255 28,662 593 Vehicles & Equipment 35,056 34,298 21,033 20,579 56,089 54,876 1,212 Airport Mgmt Administration 23,769 18,752 28,421 32,160 52,190 50,912 1,278 FBO Administration 156,066 117,529 186,612 201,565 (342,678) (319,094) - - - ACAA Administration 153,015 119,175 182,963 204,388 335,978 323,564 12,414 Total Allocation 434,654 354,618 485,777 523,556 (342,678) (319,094) 577,753 559,080 18,673

FBO Net Results (70,525)$ 65,182$ 21,099$ (74,697)$ -$ -$ (49,425)$ (9,515)$ 39,910$

Albany County Airport AuthorityFBO Operations Summary

For the six months ended June 30, 2017

Commercial Fueling (60) GA & Facilities (61) Administration (69)

68

2017 Actual 2017 Budget 2016 ActualGross Cost of Net Gross Cost of Net Gross Cost of Net

YTD Revenues Revenues Sales Revenue Revenues Sales Revenue Revenues Sales RevenueJet A Fuel Sales 1,957,853$ 1,039,160$ 918,693$ 1,929,707$ 979,112$ 950,595$ 1,847,743$ 888,704$ 959,039$ Fuel Volume Discounts-Jet A 129,309 (129,309) 157,729 (157,729) 153,111 (153,111) AvGas Fuel Sales-Commercial 225,595 202,044 23,551 274,626 243,742 30,884 261,712 231,048 30,664 AvGas Fuel Sales 135,474 106,577 28,897 146,003 106,415 39,588 157,933 116,659 41,274 Fuel Volume Discounts-AvGas 2,333 (2,333) 2,308 (2,308) 2,182 (2,182) Auto & Diesel Fuel Sales 147,592 110,422 37,170 139,027 108,633 30,394 128,504 92,314 36,190 Into-Plane Fees 325,485 325,485 327,670 327,670 329,885 329,885 Fuel Farm Fees 297,684 297,684 292,617 292,617 274,143 274,143 Landing Fees 107,972 107,972 127,580 127,580 121,492 121,492 Parking Fees 65,994 65,994 89,391 89,391 85,728 85,728 Deicing 667,212 396,206 271,006 666,281 445,725 220,556 447,806 269,489 178,317 Properties 168,513 168,513 172,303 172,303 170,303 170,303 FBO Services (Catering, etc) 31,090 1,895 29,195 28,818 2,649 26,169 35,854 650 35,204 Total 4,130,464$ 1,987,946$ 2,142,518$ 4,194,023$ 2,046,313$ 2,147,710$ 3,861,103$ 1,754,157$ 2,106,946$

2017 Actual 2017 Budget 2016 ActualGross Cost of Net Gross Cost of Net Gross Cost of Net

Revenues Sales Revenue Revenues Sales Revenue Revenues Sales RevenueJanuary 798,178$ 408,458$ 389,720$ 836,997$ 431,499$ 405,498$ 833,141$ 473,699$ 359,442$ February 804,190 422,162 382,028 875,455 463,320 412,135 589,798 192,802 396,996 March 730,999 341,082 389,917 701,688 334,287 367,401 600,220 246,666 353,554 April 532,290 246,150 286,140 575,793 270,056 305,737 608,721 282,557 326,164 May 646,415 292,995 353,420 605,570 278,539 327,031 606,580 275,910 330,670 June 618,392 277,099 341,293 598,520 268,612 329,908 622,643 282,523 340,120 July - 737,357 346,558 390,799 756,833 343,811 413,022 August - 791,360 372,593 418,767 805,432 374,747 430,685 September - 581,889 268,410 313,479 572,024 265,439 306,585 October - 725,498 350,974 374,524 770,906 373,408 397,498 November - 702,150 348,680 353,470 717,626 334,400 383,226 December - 799,664 405,761 393,903 816,294 450,022 366,272 Total 4,130,464$ 1,987,946$ 2,142,518$ 8,531,941$ 4,139,289$ 4,392,652$ 8,300,218$ 3,895,984$ 4,404,234$

YTD 4,130,464$ 1,987,946$ 2,142,518$ 4,194,023$ 2,046,313$ 2,147,710$ 3,861,103$ 1,754,157$ 2,106,946$

Albany International AirportFBO Net Revenue

Before Operating and Maintenance ExpensesFor the six months ended June 30

$-

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000



69

Jet A Gallons 2017 # % 2017 vs2017 Budget Variance Variance 2016 2016 2015 2014

January (Actual) 70,070 82,865 (12,795) -15.4% 81,710 -14.2% 66,871 78,323February (Actual) 67,820 75,589 (7,769) -10.3% 74,536 -9.0% 53,561 72,672March (Actual) 66,129 81,081 (14,952) -18.4% 79,951 -17.3% 67,968 57,449April (Actual) 65,069 69,369 (4,300) -6.2% 68,402 -4.9% 78,117 72,360May (Actual) 99,920 85,035 14,885 17.5% 83,850 19.2% 94,019 83,327June (ACTUAL) 89,950 81,358 8,592 10.6% 80,224 12.1% 83,781 80,991July (Projected) 108,562 112,427 (3,865) -3.4% 110,860 -2.1% 95,790 83,099August (Projected) 117,819 122,013 (4,194) -3.4% 120,313 -2.1% 115,631 98,783September (Projected) 77,528 80,288 (2,760) -3.4% 79,169 -2.1% 72,449 93,005October (Projected) 100,350 103,922 (3,573) -3.4% 102,474 -2.1% 111,038 97,977November (Projected) 80,807 83,683 (2,877) -3.4% 82,517 -2.1% 61,875 66,226December (Projected) 65,670 68,008 (2,338) -3.4% 67,060 -2.1% 66,245 68,549Total 1,009,693 1,045,639 (35,946) -3.4% 1,031,066 -2.1% 967,345 952,761

YTD Gallons 458,958 475,297 (16,339) -3.4% 468,673 -2.1% 444,317 445,122

Jet A Net Revenue 2017 # % 2017 vs2017 Budget Variance Variance 2016 2016 2015 2014

January (Actual) 112,128$ 138,231$ (26,103)$ -18.9% 140,607$ -20.3% 112,955$ 101,011$ February (Actual) 113,822 126,094 (12,272) -9.7% 125,545 -9.3% 95,736 107,149March (Actual) 118,397 135,255 (16,858) -12.5% 139,416 -15.1% 114,624 78,109April (Actual) 111,173 115,717 (4,544) -3.9% 117,903 -5.7% 135,086 111,539May (Actual) 175,376 141,851 33,525 23.6% 143,880 21.9% 152,129 134,612June (ACTUAL) 158,488 135,717 22,771 16.8% 138,577 14.4% 132,133 127,702July (Projected) 186,721 187,544 (823) -0.4% 199,181 -6.3% 164,015 131,099August (Projected) 202,643 203,536 (894) -0.4% 210,063 -3.5% 201,123 158,739September (Projected) 133,344 133,932 (588) -0.4% 132,912 0.3% 133,269 153,742October (Projected) 172,597 173,358 (761) -0.4% 176,189 -2.0% 176,999 160,068November (Projected) 138,983 139,596 (613) -0.4% 142,396 -2.4% 98,270 106,756December (Projected) 112,949 113,447 (498) -0.4% 121,863 -7.3% 110,415 131,554Total 1,736,620$ 1,744,278$ (7,658)$ -0.4% 1,788,532$ -2.9% 1,626,754$ 1,502,080$

YTD Net Revenues 789,384$ 792,865$ (3,481)$ -0.4% 805,928$ -2.1% 742,663$ 660,122$

020,00040,00060,00080,000

100,000120,000140,000


AugProjected

SepProjected

OctProjected

NovProjected

DecProjected

Ga

llon

s

Jet A Sales (Gallons)


Albany International AirportFBO Jet A Fuel Sales


$-

$50,000

$100,000

$150,000

$200,000

$250,000


AugProjected

SepProjected

OctProjected

NovProjected

DecProjected

Jet A Net Revenue


70

AvGas Gallons 2017 # % 2017 vs2017 Budget Variance Variance 2016 2016 2015 2014

January (Actual) 3,248 4,050 (802) -19.8% 4,915 -33.9% 3,366 3,134February (Actual) 2,836 3,340 (504) -15.1% 3,087 -8.1% 3,563 3,429March (Actual) 4,236 4,283 (47) -1.1% 4,773 -11.3% 3,703 3,162April (Actual) 5,261 6,106 (845) -13.8% 5,879 -10.5% 6,653 4,953May (Actual) 6,101 6,867 (766) -11.2% 6,884 -11.4% 7,353 5,405June (ACTUAL) 6,292 7,025 (733) -10.4% 8,954 -29.7% 6,109 5,669July (Projected) 6,198 7,017 (819) -11.7% 6,733 -7.9% 7,462 6,057August (Projected) 7,023 7,951 (928) -11.7% 6,380 10.1% 7,701 6,485September (Projected) 6,610 7,483 (873) -11.7% 5,863 12.7% 9,186 5,700October (Projected) 4,983 5,641 (658) -11.7% 6,588 -24.4% 6,044 4,129November (Projected) 4,763 5,392 (629) -11.7% 5,563 -14.4% 5,663 3,991December (Projected) 3,032 3,433 (401) -11.7% 3,537 -14.3% 3,635 3,788Total 60,582 68,588 (8,006) -11.7% 69,156 -12.4% 70,438 55,902

YTD Gallons 27,974 31,671 (3,697) -11.7% 34,492 -18.9% 30,747 25,752

#DIV/0!

AvGas Net Revenue 2017 # % 2017 vs2017 Budget Variance Variance 2016 2016 2015 2014

January (Actual) 2,687$ 4,767$ (2,080)$ -43.6% 4,839$ -44.5% 1,476$ 2,279$ February (Actual) 2,618 3,931 (1,313) -33.4% 1,857 41.0% 1,988 1,961March (Actual) 2,843 5,041 (2,198) -43.6% 5,885 -51.7% 6,282 2,945April (Actual) 5,721 7,188 (1,467) -20.4% 6,205 -7.8% 7,024 3,212May (Actual) 6,373 8,083 (1,710) -21.2% 9,675 -34.1% 9,021 6,690June (ACTUAL) 6,322 8,270 (1,948) -23.6% 10,632 -40.5% 8,674 8,718July (Projected) 5,886 8,260 (2,374) -28.7% 7,786 -24.4% 5,273 5,959August (Projected) 6,669 9,359 (2,690) -28.7% 7,815 -14.7% 7,806 3,762September (Projected) 6,277 8,809 (2,532) -28.7% 7,463 -15.9% 9,693 7,741October (Projected) 4,732 6,640 (1,909) -28.7% 5,076 -6.8% 4,231 7,416November (Projected) 4,523 6,347 (1,824) -28.7% 4,755 -4.9% 1,485 524December (Projected) 2,879 4,041 (1,161) -28.7% 5,917 -51.3% 8,291 1,428Total 57,528$ 80,735$ (23,207)$ -28.7% 77,905$ -26.2% 71,244$ 52,635$

5917YTD Net Revenues 26,564$ 37,280$ (10,716)$ -28.7% 39,093$ -32.0% 34,465$ 25,805$

01,0002,0003,0004,0005,0006,0007,0008,0009,000

10,000


AugProjected

SepProjected

OctProjected

NovProjected

DecProjected

Gal

lons

AvGas Sales (Gallons)


$-

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000


AugProjected

SepProjected

OctProjected

NovProjected

DecProjected

AvGas Net Revenue


Albany International AirportFBO Av Gas Retail Sales


71

Commercial AvGas Gallons 2017 # % 2017 vs2017 Budget Variance Variance 2016 2016 2015 2014

January (Actual) 12,793 13,614 (821) -6.0% 13,548 -5.6% 13,746 13,456February (Actual) 11,347 12,071 (724) -6.0% 12,560 -9.7% 11,219 14,017March (Actual) 13,639 14,421 (782) -5.4% 13,080 4.3% 15,549 14,771April (Actual) 10,817 14,617 (3,800) -26.0% 13,340 -18.9% 14,410 15,771May (Actual) 7,402 14,594 (7,192) -49.3% 14,577 -49.2% 14,407 15,656

June (ACTUAL) 7,834 14,155 (6,321) -44.7% 13,001 -39.7% 14,870 14,693July (Projected) 11,315 14,797 (3,482) -23.5% 8,754 29.3% 15,749 15,242August (Projected) 11,577 15,139 (3,562) -23.5% 9,604 20.5% 15,111 15,806September (Projected) 10,873 14,219 (3,346) -23.5% 13,774 -21.1% 15,165 14,981October (Projected) 11,185 14,627 (3,442) -23.5% 14,650 -23.7% 14,407 15,872November (Projected) 10,882 14,230 (3,348) -23.5% 12,715 -14.4% 14,914 15,589December (Projected) 10,335 13,516 (3,180) -23.5% 12,983 -20.4% 14,296 14,991Total 129,999 170,000 (40,001) -23.5% 152,586 -14.8% 173,843 180,845

YTD Gallons 63,832 83,473 (19,641) -23.5% 80,106 -20.3% 84,201 88,364

Commercial AvGas Net Revenue 2017 # % 2017 vs2017 Budget Variance Variance 2016 2016 2015 2014

January (Actual) 4,805$ 5,037$ (232)$ -4.6% 5,974$ -19.6% 5,202$ 4,830$ February (Actual) 4,625 4,466 159 3.6% 4,003 15.5% 6,693 4,957 March (Actual) 4,706 5,336 (630) -11.8% 5,277 -10.8% 4,447 5,035 April (Actual) 4,016 5,408 (1,392) -25.7% 5,040 -20.3% 4,577 6,046 May (Actual) 2,780 5,400 (2,620) -48.5% 5,548 -49.9% 5,684 5,297

June (ACTUAL) 2,619 5,237 (2,618) -50.0% 4,822 -45.7% 5,654 5,550 July (Projected) 4,175 5,475 (1,300) -23.7% 2,817 48.2% 5,388 5,619 August (Projected) 4,271 5,601 (1,330) -23.7% 3,970 7.6% 5,983 5,923 September (Projected) 4,012 5,261 (1,249) -23.7% 5,271 -23.9% 6,825 6,187 October (Projected) 4,127 5,412 (1,285) -23.7% 4,476 -7.8% 5,254 6,052 November (Projected) 4,015 5,265 (1,250) -23.7% 4,165 -3.6% 7,613 6,614 December (Projected) 3,813 5,001 (1,187) -23.7% 5,293 -28.0% 2,120 5,777

Total 47,964$ 62,900$ (14,936)$ -23.7% 56,656$ -15.3% 65,440$ 67,887$

YTD Net Revenues 23,551$ 30,884$ (7,333)$ -23.7% 30,664$ -23.2% 32,257$ 31,715$

Albany International AirportCommercial Av Gas Retail Sales


0

5,000

10,000

15,000

20,000

25,000


AugProjected

SepProjected

OctProjected

NovProjected

DecProjected

Commercial AvGas Sales (Gallons)


$-

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

$7,000

$8,000

$9,000


AugProjected

SepProjected

OctProjected

NovProjected

DecProjected

Commercial AvGas Net Revenue


72

Deicing gallons sold through meters 2017 # % 2017 vs2017 Budget Variance Variance 2016 2016 2015 2014

January (Actual) 24,685 18,545 6,140 33.1% 14,145 74.5% 22,282 20,000February (Actual) 26,437 25,728 709 2.8% 17,437 51.6% 33,875 26,285March (Actual) 11,991 8,017 3,974 49.6% 981 1122.3% 11,009 12,360April (Actual) 530 3,544 (3,014) -85.0% 8,786 -94.0% 892 956October (Projected) 4,639 4,070 569 14.0% 5,767 -19.6% 3,135 3,751November (Projected) 10,798 9,474 1,325 14.0% 11,114 -2.8% 2,929 14,390December (Projected) 22,861 20,056 2,805 14.0% 26,507 -13.8% 11,946 22,678Total 101,941 89,434 12,507 14.0% 84,737 20.3% 86,068 100,420

YTD Gallons 63,643 55,835 7,808 14.0% 41,349 53.9% 68,058 59,601

Deicing gallons sold through meters Net Revenue2017 # % 2017 vs

2017 Budget Variance Variance 2016 2016 2015 2014January (Actual) 6,670$ 0 6,670$ 100.0% (2,395)$ -378.4% 127$ 514February (Actual) 2,322 0 2,322 0.0% 12,514 -81.4% 1,169 (5,856)March (Actual) 7,706 0 7,706 0.0% (3,199) -340.9% 1,110 2,348April (Actual) (6,980) 0 (6,980) 0.0% 2,292 0.0% (232) (66)October (Projected) 0 0 - 0.0% 778 -100.0% (1,341) (5,273)November (Projected) 0 0 - 0.0% (4,603) -100.0% (2,692) 1,058December (Projected) 0 0 - 0.0% (1,648) -100.0% (15,765) 2,133Total 9,718 0 9,718$ 100.0% 3,739$ 159.9% (17,624)$ (5,142)$

#DIV/0!

YTD Net Revenues 9,718$ -$ 9,718$ 100.0% 9,212$ 5.5% 2,174$ (3,060)$

010,00020,00030,00040,000

Jan Actual Feb Actual Mar Actual Apr Actual OctProjected

NovProjected

DecProjected

Gal

lons

Deicing (Gallons sold through meters)


Albany International AirportFBO Deicing Sales Consortium


$(20,000) $(15,000) $(10,000)

$(5,000) $-

$5,000 $10,000 $15,000


NovProjected

DecProjected

Gal

lons

Deicing Net Revenue


73

Deicing gallons sprayed 2017 # % 2017 vs2017 Budget Variance Variance 2016 2016 2015 2014

January (Actual) 10,964 11,312 (348) -3.1% 6,053 81.1% 9,534 11,479February (Actual) 13,776 16,261 (2,485) -15.3% 10,149 35.7% 13,995 15,215March (Actual) 9,246 4,942 4,304 87.1% 551 1578.0% 5,018 6,347April (Actual) 675 2,500 (1,825) -73.0% 4,433 -84.8% 157 1,389October (Projected) 1,867 1,886 (19) -1.0% 3,928 -52.5% 670 95November (Projected) 5,050 5,101 (52) -1.0% 5,209 -3.1% 794 6,202December (Projected) 13,791 13,932 (141) -1.0% 13,260 4.0% 7,368 13,311Total 55,369 55,934 (565) -1.0% 43,583 27.0% 37,536 54,038

#DIV/0!YTD Gallons 34,661 35,015 (354) -1.0% 21,186 63.6% 28,704 34,430

Deicing gallons sprayed Net Revenue 2017 # % 2017 vs2017 Budget Variance Variance 2016 2016 2015 2014

January (Actual) 91,123$ 70,472$ 20,651$ 29.3% 49,782$ 83.0% 73,651$ 95,306$ February (Actual) 98,604 102,974 (4,370) -4.2% 79,410 24.2% 104,238 124,072March (Actual) 59,441 31,531 27,910 88.5% 6,732 783.0% 35,760 48,557April (Actual) 12,121 15,579 (3,458) -22.2% 33,181 -63.5% 1,163 12,864October (Projected) 14,909 12,265 2,644 21.6% 28,882 -48.4% 5,103 (1,266)November (Projected) 38,687 31,825 6,861 21.6% 43,735 -11.5% 6,362 47,073December (Projected) 107,646 88,554 19,092 21.6% 55,253 94.8% 59,356 102,975Total 429,348 353,200$ 76,148$ 21.6% 296,975$ 44.6% 285,633$ 429,581$

YTD Net Revenues 261,289$ 220,557$ 40,732$ 18.5% 169,105$ 54.5% 214,812$ 280,799$

$(20,000) $-

$20,000 $40,000 $60,000 $80,000

$100,000 $120,000 $140,000


NovProjected

DecProjected

Deicing Net Revenue


Albany International AirportFBO Deicing Sales Sprayed


0

5,000

10,000

15,000

20,000


NovProjected

DecProjected

Gal

lon

s

Deicing (Gallons sprayed)


74

2017 2017 2016YTD Expenses Actual Budget ActualPersonal Services Salaries $584,232 $621,859 572,621$ Overtime 90,833 55,243 77,214 Total Personal Services 675,065 677,102 649,835

Employee Benefits 258,234 286,200 268,780 Utilities & Communications 48,377 60,756 53,321 Purchased Services 314,176 318,460 254,221

Material & Supplies Buildings 38,969 41,397 55,264 Grounds 16,277 28,150 4,546 Vehicles 140,636 89,673 90,814 Total Materials & Supplies 195,882 159,220 150,624

Administration 101,223 117,646 107,212 Non-Capital Equipment - - - Total Expenses 1,592,956$ 1,619,384$ 1,483,993$

2017 2017 2016Actual Budget Actual

January 327,320$ 394,995$ 329,712$ February 249,907 250,676 224,349 March 273,858 237,646 229,485 April 254,232 275,235 255,190 May 231,662 235,426 250,761 June 255,977 225,406 194,496 July 259,829 270,962 August 239,736 211,823 September 253,393 222,821 October 276,672 324,927 November 244,833 223,365 December 285,784 125,283 Total 1,592,956$ 3,179,631$ 2,863,174$

YTD 1,592,956$ 1,619,384$ 1,483,993$

Albany International AirportFBO Operating and Maintenance Expenses


$-

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000



75

Total AnnualBudget

This MonthBudget

This MonthActual

Var this MoTo Buget

Year to DateBudget

Year to DateActual


EXPENSES

Personal Services11000 Salaries $1,243,717 $95,671 $89,395 $6,276 $621,859 $584,232 $37,62712010 Overtime 1.5 119,796 8,419 13,163 (4,745) 55,243 90,833 (35,590)

Total Personal Services 1,363,513 104,089 102,558 1,531 677,101 675,065 2,036

Employee Benefits21000 Social Security 104,309 8,024 7,600 424 52,155 50,181 1,97422000 Health Insurance 321,356 26,780 28,460 (1,680) 160,678 183,126 (22,448)24000 Medical Exams 1,500 125 0 125 750 1,650 (900)25000 Uniforms & Laundry 7,100 592 290 302 3,550 2,328 1,22225005 Uniform Purchases 15,500 1,292 870 421 7,750 2,942 4,80826010 Disability Insurance 3,215 247 0 247 1,608 (2,616) 4,22326020 Unemployment Insurance 18,974 190 (94) 284 15,839 12,939 2,89926030 Workers Compensation 72,665 6,055 0 6,055 36,332 0 36,33229001 Airport & FBO 401K 15,078 1,160 1,224 (64) 7,539 7,683 (144)

Total Employee Benefits 559,697 44,465 38,349 6,116 286,200 258,234 27,966

Utilities & Communications31000 Electric 50,000 4,418 3,224 1,193 24,734 23,985 74933000 Natural Gas 42,000 647 496 151 32,197 20,262 11,93535000 Water 700 0 0 0 350 347 336010 Telephone Charges-Local 540 45 47 (2) 270 242 2836011 Tele Chg-Long Dist 550 46 34 12 275 254 2136033 Wireless 3,600 300 200 100 1,800 1,401 39936035 Radio Communications 380 0 0 0 380 385 (5)36060 Cable Television 1,500 125 0 125 750 1,500 (750)

Total Utilities & Communications 99,270 5,580 4,001 1,579 60,756 48,377 12,378

PURCHASED SERVICES

Insurance42010 Airport Liability Insurance 127,348 0 0 0 70,684 70,184 50042041 Environmental Liability 39,300 0 0 0 39,300 7,642 31,65842060 Property Insurance 50,607 1,112 1,144 (32) 47,270 47,425 (156)42095 Insurance Claims 0 0 0 0 0 25,000 (25,000)

Total Insurance 217,255 1,112 1,144 (32) 157,254 150,251 7,002

Janitorial45010 Refuse Removal Services 2,544 212 216 (4) 1,272 1,296 (24)

Total Janitorial 2,544 212 216 (4) 1,272 1,296 (24)

Public Communications46010 Public Relations 42,000 3,500 3,500 0 21,000 21,000 0

Total Public Communications 42,000 3,500 3,500 0 21,000 21,000 0

Professional Services49020 Engineering Services 0 0 6,750 (6,750) 0 6,750 (6,750)49040 Professional Management 279,000 22,705 23,054 (349) 138,935 134,879 4,056

Total Professional Services 279,000 22,705 29,804 (7,099) 138,935 141,629 (2,694)

Total Purchased Services 540,799 27,530 34,664 (7,135) 318,460 314,176 4,284

ALBANY COUNTY AIRPORT AUTHORITYDetail of FBO/Million Air Departments


76

Total AnnualBudget

This MonthBudget

This MonthActual

Var this MoTo Buget

Year to DateBudget

Year to DateActual



FBO51101 Fuel Costs - Jet A 2,154,016 167,597 192,816 (25,219) 979,112 1,039,160 (60,048)51102 Fuel Discounts - Jet A 347,000 26,999 25,246 1,753 157,729 129,309 28,42051103 Fuel Costs - AvGas 230,457 23,606 23,762 (156) 106,415 106,577 (162)51104 Fuel Discount - AvGas 5,000 512 491 21 2,308 2,333 (25)51108 Fuel Costs - Comm AvGas 496,400 41,332 25,325 16,007 243,742 202,044 41,69851105 Fuel Costs - Auto Gas 50,000 2,121 3,157 (1,036) 28,295 29,703 (1,408)51107 Fuel Costs - Diesel 136,000 6,004 6,333 (330) 80,338 80,719 (381)51110 Deicing Type I - Sprayed 240,555 0 0 0 148,277 71,883 76,39451111 Deicing Type I - Consortium 349,670 0 0 0 220,284 236,804 (16,520)51112 Deicing Type IV - Sprayed 34,860 0 0 0 23,222 19,447 3,77551113 Deicing Type IV - Consortium 90,032 0 0 0 53,942 68,072 (14,130)51120 Catering 1,000 83 (31) 115 500 0 50051125 Oil 3,000 250 0 250 1,500 1,334 16651126 TKS 1,000 83 0 83 500 560 (60)51130 Charts, Pilot Supplies 300 25 0 25 150 0 150

Total FBO 4,139,289 268,613 277,099 (8,486) 2,046,313 1,987,946 58,368

Buildings52010 Alarm & PA Systems 6,200 517 0 517 3,100 274 2,82652031 Electrical Repairs & Supplies 10,500 875 1,444 (569) 5,250 4,607 64352032 Elevator Repairs & Supplies 10,000 833 0 833 5,000 1,164 3,83652033 HVAC 10,500 1,462 0 1,462 3,160 0 3,16052034 Roof 3,000 250 0 250 1,500 11,749 (10,249)52035 Plumbing Repairs & Supplies 3,500 292 0 292 1,750 1,228 52252036 Automatic Door Repairs 4,000 333 0 333 2,000 1,848 15252037 Pest Control 1,574 131 62 69 787 372 41552060 Building Maintenance 27,000 2,250 1,551 699 13,500 13,867 (367)52062 Janitorial Supplies 7,000 583 818 (235) 3,500 2,515 98552063 Window Washing 3,200 267 269 (3) 1,600 1,347 25352080 Sign Expense 500 42 0 42 250 0 250

Total Buildings 86,974 7,835 4,144 3,691 41,397 38,969 2,428

Grounds53010 Landscaping 500 100 116 (16) 300 347 (47)53030 Pavement Repairs 500 100 0 100 300 0 30053040 Sign Expense 100 8 0 8 50 11,635 (11,585)53070 Hazardous Waste Mgmt 30,000 2,500 0 2,500 15,000 498 14,50353078 Liquid Waste Disposal 25,000 2,083 1,113 971 12,500 3,798 8,702

Total Grounds 56,100 4,792 1,228 3,564 28,150 16,277 11,873

Vehicles54010 Gasoline 10,000 589 477 111 4,897 4,566 33154011 Diesel Fuel 40,000 2,764 2,024 740 21,289 21,655 (366)54013 Vehicle / Equipment Tires 11,000 917 1,310 (393) 5,500 7,529 (2,029)54021 Vehicle Repair & Maintenance 1,500 125 0 125 750 321 42954022 Vehicle Communication Equip 2,000 167 129 38 1,000 418 58254030 General Equip Repair & Maint 55,000 1,187 6,129 (4,941) 12,098 22,724 (10,626)54031 Quality Control Testing Equip 20,000 1,667 0 1,667 10,000 989 9,01154040 Heavy Equipment Maint 90,000 4,426 43,984 (39,558) 30,888 79,882 (48,993)



77

Total AnnualBudget

This MonthBudget

This MonthActual

Var this MoTo Buget

Year to DateBudget

Year to DateActual


54070 Vehicle Shop Tools & Supplies 6,500 542 246 295 3,250 2,552 698Total Vehicles 236,000 12,383 54,299 (41,916) 89,673 140,636 (50,963)

Total Material & Supplies 4,518,363 293,622 336,769 (43,147) 2,205,534 2,183,829 21,705

Office55010 Office Equipment Rental 1,786 149 483 (334) 893 1,008 (115)55012 Office Equipment Serv Agrmnt 432 0 0 0 0 0 055013 Office Equipment Repairs 100 8 0 8 50 0 5055014 Computer System Supplies 4,300 358 0 358 2,150 235 1,91555015 Hardware/Software Maint 8,460 705 0 705 4,230 2,457 1,77355016 Computer Equipment 650 54 0 54 325 0 32555020 Office Furniture & Fixtures 2,000 167 130 37 1,000 230 77055030 Printed Forms / Letterhead 1,000 83 288 (205) 500 288 21255032 Printing Outside Services 300 25 0 25 150 0 15055041 Express Mail 250 21 0 21 125 24 10155060 Office Supplies 6,000 500 71 429 3,000 3,120 (120)55070 Payroll Services 19,500 1,625 1,980 (355) 9,750 9,356 395

Total Office 44,778 3,695 2,951 744 22,173 16,717 5,456

Administration66000 Dues & Subscriptions 16,500 777 685 92 15,037 13,949 1,08866010 AvPorts/MA Training & Travel 10,000 833 1,230 (397) 5,000 2,720 2,28066013 Function Refreshments 2,000 167 0 167 1,000 0 1,00066015 Incentives 43,000 2,584 2,374 210 18,548 19,279 (731)66031 Economic Development 1,000 83 0 83 500 0 50066060 Credit Card Service Charges 120,000 10,593 9,491 1,101 55,389 48,557 6,832

Total Administration 192,500 15,038 13,780 1,257 95,473 84,504 10,969

Total Expenses 7,318,920 494,019 533,073 (39,054) 3,665,697 3,580,902 84,795

Total Exp & Non Cap Equip. 7,318,920 494,019 533,073 (39,054) 3,665,697 3,580,902 84,795



78

Variance




FBO MANAGEMENT - MILLION AIR:Commercial

Fuel Farm Technician 2.00 2.00 2.00 2.00 2.00 2.00 2.00 0.00Line Service Technician 8.00 9.00 9.00 9.00 8.00 8.00 8.00 0.00Fuel Farm /Facility Manager 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00

General AviationLine Service Technician 15.00 15.00 15.00 15.00 15.00 15.00 15.00 0.00Facilities Maintenance 1.00 0.00 0.00 0.00 0.00 0.00 0.00 -1.00Customer Service Representative 5.00 5.00 5.00 5.00 5.00 4.00 4.00 -1.00

AdministrationGeneral Manager 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00LSM-GA Trainer 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00Operations Supervisors/PM 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00

Total Million Air Positions 35.00 35.00 35.00 35.00 34.00 33.00 33.00 0.00 0.00 0.00 0.00 0.00 0.00 -2.00

79

Year to Date Year to DateBudget Actual Variance

Personnel Services

Regular - Salaries 558,167$ 527,897$ 30,270$

Holiday Pay - - -

Other Dollars/Funeral/Jury/Retro 23,804 15,972 7,832

Shift Premium 1,842 2,026 (184)

Lead Pay 366 709 (343)

Sick Pay 9,137 9,983 (846)

Personal Pay 12,273 14,905 (2,632)

Vacation Pay 16,270 12,740 3,530

Sub Total 621,859 584,232 37,627

Overtime 55,243 90,833 (35,590)

Double Time Pay - - -

Total 677,102 675,065 2,037

Employee Benefits

Social Security & Medicare 52,155 50,181 1,974

Federal Unemployment Tax 1,604 1,468 136

NYS Unemployment 14,235 11,471 2,764

Workers Compensation 36,332 - 36,332

401 (K) Plan Match 7,539 7,683 (144)

Health & Dental Insurance 179,800 204,172 (24,372)

Employee Benefits Deductions (19,121) (21,046) 1,925

Disability/Life Insurance 1,608 (2,616) 4,224

Total 274,152 251,313 22,839

Total Salaries and Benefits 951,254$ 926,378$ 24,876$

Personnel Services & BenefitsFor the six months ended June 30, 2017

Million Air

80

Commercial Aviation Performance Measurements


ActualNumber of accidents/incidents 2 0 5 0 0Number of airline delays counted against MA 2 3 14 0 2Into-plane gallons pumped 16,971,830 16,835,885 18,602,032 18,915,363 9,672,775Number of Audits performed by Airlines/ Quality Control- Employeee Training Records 11 24 25 5 16Number of non-compliance items reported in Airline Audits 3 3 10 4 7AvGas fuel sales commercial 180,785 173,843 152,586 170,000 63,832Deicing gallons pumped 154,363 123,604 128,320 145,368 97,704Workers' compensation cases 0 0 4 0 0Employees who have completed Safety Programs 16 17 20 15 13Quality control audits at the Fuel Farm (less the better) 8 12 13 5 14Completed monthly training programs 12 12 14 12 8Monthly survey of airlines 100% 100% 100% 100% 100%Overtime/Personnel Services (%) 12.8% 12.0% 13.3% 10.7% 13.8%

General Aviation Performance Measurements


ActualAvGas fuel sales (gallons) 55,902 70,438 69,156 68,588 27,974Jet A fuel sales (gallons) 952,761 967,345 1,031,066 1,045,639 458,958Number of international flights 753 707 517 600 229General Aviation Aircraft customer transactions 6,515 6,949 7,392 7,600 3,103Number of Aircraft Arrivals 6,073 3,949 7,349 6,000 3,250Number of Aircraft fueled 4,870 5,901 5,958 6,000 2,639Number of ramp fees collected 1,883 1,661 2,102 2,000 661Number of landing fees collected 4,060 3,811 4,147 4,000 1,613Employees who completed the NATA Safety 1st Program 11 12 20 20 7Employees who completed all Safety Programs 10 20 15 14 10Property Accidents 1 2 5 0 0Quarterly reports from monthly safety meetings 100% 100% 100% 100% 100%Number of top 20 customers surveys completed 20 25 44 24 9Overtime/Personnel Services (%) 10.0% 11.1% 16.4% 10.0% 17.0%

Million Air's Administrative Performance Measurements


ActualMillion Air's total full time employment equivalents 35 35 33 35.0 33.0Total Million Air overtime 9.3% 9.7% 13.0% 8.8% 13.5%Number of marketing events attended 2 2 1 4 1Number of based tennants 25 14 15 14 15Employee turnover annum 25% 25% 30% 10% -6%Workers' compensation cases 0 0 2 0 1Number of customers gained (prior year comparison) 6% 7% 6% 1% -10%Overtime/Personnel Services (%) 1.2% 0.6% 0.0% 0.0% 0.0%

Albany International Airport2017 FBO Performance Measurements


81


AuthorityOperations

82

Albany County Airport AuthorityExpense Summary



EXPENSES BY CATEGORY

Personal Services 1,903,013$ 951,507$ 944,862$ 6,645$ 0.70% 896,858$ -5.35%

Employee Benefits 1,229,476 618,590 611,494 7,096 1.15% 596,680 -2.48%

Utilities & Communications 118,792 62,435 47,659 14,776 23.67% 42,411 -12.37%

Purchased Services

Accounting & Auditing 61,000 39,686 44,630 (4,944) -12.46% 30,595 -45.87%

Insurance 295,385 279,766 296,120 (16,354) -5.85% 213,200 -38.89%

Legal Services 50,000 25,000 3,413 21,588 86.35% 8,942 61.84%

Janitorial 15,226 7,613 10,660 (3,047) -40.02% 6,983 -52.65%

Public Communications 264,954 132,477 94,426 38,051 28.72% 137,594 31.37%

Special Studies 35,000 17,500 28,348 (10,847) -61.98% 16,943 -67.31%

Professional Services 124,660 62,330 37,107 25,223 40.47% 42,730 13.16%

Total Purchased Services 846,225 564,372 514,704 49,670 8.80% 456,987 -12.63%

Material & Supplies

Buildings 22,850 11,425 30,993 (19,568) -171.28% 6,264 -394.80%

Grounds 100 60 0 60 100.00% 0 0.00%

Total Material & Supplies 22,950 11,485 30,993 (19,508) -169.86% 6,264 -394.80%

Office 146,676 77,807 100,122 (22,315) -28.68% 103,056 2.85%

Administration 145,511 72,745 70,086 2,658 3.65% 68,299 -2.62%

Total Expenses 4,412,643$ 2,358,941$ 2,319,920$ 39,022$ 1.65% 2,170,555$ -6.88%

June 2017

83

Total AnnualBudget

This MonthBudget

This MonthActual

Var this MoTo Buget

Year to DateBudget

Year to DateActual


EXPENSES

Personal Services11000 Salaries $1,903,013 $158,584 $161,593 ($3,008) $951,507 $944,667 $6,83912010 Overtime 1.5 0 0 0 0 0 195 (195)

Total Personal Services 1,903,013 158,584 161,593 (3,008) 951,507 944,862 6,645

Employee Benefits21000 Social Security 136,325 11,360 12,199 (839) 68,163 71,306 (3,144)22000 Health Insurance 510,529 42,544 41,706 839 255,264 245,679 9,58522105 OPEB 252,773 21,064 21,064 0 126,387 126,387 022200 Health-Dental 40,453 3,371 3,240 131 20,226 18,657 1,56922300 Health-Vision 6,469 539 507 32 3,234 3,045 19023000 Health - AFLAC 7,560 630 605 25 3,780 3,629 15124010 EAP Program 969 0 0 0 613 613 024015 Smoking Cessation Class 1,200 100 0 100 600 0 60026010 Disability Insurance 605 50 519 (468) 303 (729) 1,03126020 Unemployment Insurance 3,930 55 75 (20) 3,535 4,234 (699)26030 Workers Compensation 8,448 690 632 59 6,377 4,204 2,17229000 NYS Retirement 260,215 21,685 22,411 (727) 130,107 134,468 (4,360)

Total Employee Benefits 1,229,476 102,089 102,958 (869) 618,590 611,494 7,096

Utilities & Communications31000 Electric 24,000 1,600 1,477 124 12,900 13,460 (559)33000 Natural Gas 8,000 194 89 105 6,138 2,935 3,20336010 Telephone Charges-Local 5,500 458 430 28 2,750 2,502 24836011 Tele Chg-Long Dist 1,500 125 66 59 750 408 34236015 Telephones-Monthly Service 15,000 1,250 1,225 25 7,500 7,341 15936016 Telephones-Monthly Usage 2,000 167 128 39 1,000 652 34836020 Telephone Repairs 45,285 3,774 925 2,849 22,643 11,601 11,04136032 Internet Access 17,236 1,436 1,436 0 8,618 8,618 036060 Cable Television 271 23 23 0 135 141 (6)

Total Utilities & Communications 118,792 9,028 5,798 3,229 62,435 47,659 14,776

PURCHASED SERVICES

Accounting & Auditing41010 Financial Services 55,000 766 0 766 36,524 38,430 (1,906)41020 Rates & Charges 6,000 0 0 0 3,162 6,200 (3,038)

Total Accounting & Auditing 61,000 766 0 766 39,686 44,630 (4,944)

Insurance42010 Airport Liability Insurance 193,683 0 0 0 193,683 193,675 842041 Environmental Liability 30,179 0 0 0 30,179 38,740 (8,561)42060 Property Insurance 1,836 150 155 (4) 1,385 1,406 (21)42065 Crime Insurance 2,025 0 0 0 0 2,397 (2,397)42090 Fiduciary Insurance 1,236 0 0 0 0 0 042070 Public Official Liability 24,519 0 0 0 24,519 24,519 042080 Cyber Liability 11,907 0 0 0 0 5,383 (5,383)42093 Agency Fee 30,000 0 0 0 30,000 30,000 0

Total Insurance 295,385 150 155 (4) 279,766 296,120 (16,354)

Legal

ALBANY COUNTY AIRPORT AUTHORITYACAA


84

Total AnnualBudget

This MonthBudget

This MonthActual

Var this MoTo Buget

Year to DateBudget

Year to DateActual


43000 Legal Services 50,000 4,167 1,050 3,117 25,000 3,413 21,588Total Legal 50,000 4,167 1,050 3,117 25,000 3,413 21,588

Janitorial45000 Janitorial Services 15,226 1,269 1,238 31 7,613 10,660 (3,047)

Total Janitorial 15,226 1,269 1,238 31 7,613 10,660 (3,047)

Public Communications46010 Public Relations 85,389 7,116 15,216 (8,100) 42,695 60,001 (17,307)46015 Advertising 179,565 14,964 3,260 11,704 89,783 34,425 55,358

Total Public Communications 264,954 22,080 18,476 3,604 132,477 94,426 38,051

Studies47000 Special Studies 35,000 2,917 0 2,917 17,500 28,348 (10,847)

Total Studies 35,000 2,917 0 2,917 17,500 28,348 (10,847)

Professional Services49005 Appraisal 7,000 583 0 583 3,500 0 3,50049010 Architectural 50,000 4,167 0 4,167 25,000 0 25,00049015 Consultant 20,000 1,667 3,875 (2,208) 10,000 15,406 (5,406)49020 Engineering Services 2,500 208 0 208 1,250 (879) 2,12949060 Code Enforcement 45,160 3,763 3,763 0 22,580 22,580 0

Total Professional Services 124,660 10,388 7,638 2,750 62,330 37,107 25,223

Total Purchased Services 846,225 41,736 28,556 13,180 564,372 514,704 49,669


Buildings52010 Alarm & PA Systems 1,500 125 0 125 750 4,886 (4,136)52031 Electrical Repairs & Supplies 2,000 167 1,094 (927) 1,000 6,572 (5,572)52032 Elevator Repairs & Supplies 2,379 198 0 198 1,190 1,164 2652033 HVAC 1,500 125 553 (428) 750 873 (123)52034 Roof 500 42 0 42 250 0 25052035 Plumbing Repairs & Supplies 1,500 125 0 125 750 10,294 (9,544)52037 Pest Control 1,720 143 125 18 860 750 11052059 Storage Space Rental 7,500 625 484 141 3,750 3,786 (36)52060 Building Maintenance 3,000 250 349 (99) 1,500 2,143 (643)52063 Window Washing 1,251 104 105 (1) 626 526 99

Total Buildings 22,850 1,904 2,709 (805) 11,425 30,993 (19,568)

Grounds53010 Landscaping 100 20 0 20 60 0 60

Total Grounds 100 20 0 20 60 0 60

Total Material & Supplies 22,950 1,924 2,709 (785) 11,485 30,993 (19,508)

Office55010 Office Equipment Rental 8,000 667 720 (54) 4,000 4,016 (16)55011 Copy Machine Use 500 42 0 42 250 0 25055012 Office Equipment Serv Agrmnt 3,561 297 132 165 1,781 1,749 3255013 Office Equipment Repairs 500 42 0 42 250 88 16255014 Computer System Supplies 27,000 2,250 2,972 (722) 13,500 11,311 2,189



85

Total AnnualBudget

This MonthBudget

This MonthActual

Var this MoTo Buget

Year to DateBudget

Year to DateActual


55015 Hardware/Software Maint 49,495 9,390 17,761 (8,371) 29,216 55,982 (26,766)55016 Computer Equipment 1,120 93 0 93 560 0 56055020 Office Furniture & Fixtures 5,000 417 0 417 2,500 3,577 (1,077)55030 Printed Forms / Letterhead 1,500 125 0 125 750 357 39355032 Printing Outside Services 20,000 1,667 1,315 352 10,000 10,804 (804)55040 Postage 7,000 583 1,258 (675) 3,500 4,187 (687)55041 Express Mail 1,000 83 (6) 89 500 147 35355050 Reference Materials 1,000 83 0 83 500 259 24155060 Office Supplies 15,000 1,250 508 742 7,500 4,653 2,84755070 Payroll Services 6,000 500 597 (97) 3,000 2,994 6

Total Office 146,676 17,488 25,257 (7,769) 77,807 100,122 (22,315)

Administration66000 Dues & Subscriptions 25,000 1,159 (212) 1,372 13,739 9,655 4,08466001 Airport Membership (ACI) 12,000 0 0 0 12,000 12,919 (919)66002 A.A.A.E. Memberships 550 46 0 46 275 275 066003 G.F.O.A. 800 67 0 67 400 0 40066005 NYS Bar Association 770 64 0 64 385 0 38566006 NY Airport Managers Assoc 5,000 0 0 0 0 8,000 (8,000)66007 Local Chamber Of Commerce 5,706 476 643 (168) 2,853 5,092 (2,239)66008 Center For Economic Growth 2,500 0 0 0 0 0 066011 Authority Travel & Education 500 42 0 42 250 0 25066012 Authority Mgmt Travel & Educ 20,000 1,667 404 1,263 10,000 13,925 (3,925)66013 Function Refreshments 25,000 2,083 663 1,421 12,500 4,177 8,32366014 Outside Functions 5,000 417 0 417 2,500 2,600 (100)66030 Advertising - Public Meetings 8,000 667 419 248 4,000 4,818 (818)66031 Economic Development 1,000 83 0 83 500 0 50066060 Credit Card Service Charges 5,500 458 245 214 2,750 2,032 71866062 Bank & Paying Agent Fees 15,000 667 0 667 4,000 0 4,00066095 County Indirect Expenses 13,185 1,099 1,099 0 6,593 6,593 0

Total Administration 145,511 8,994 3,260 5,734 72,745 70,086 2,658

Total Expenses 4,412,643 339,844 330,131 9,712 2,358,940 2,319,920 39,020

Total Exp & Non Cap Equip. 4,412,643 339,844 330,131 9,712 2,358,940 2,319,920 39,020



86

2017 2017 2017 2016 2016 2016 2015 2014Gross Direct Operating Gross Direct Operating Operating Operating

YTD Revenues Revenues Expenses Results Revenues Expenses Results Results Results Museums $74,434 $43,329 $31,104 $57,145 $34,032 $23,113 $29,368 $27,283 Direct Purchase 39,658 16,617 23,041 30,792 12,144 18,648 22,971 17,826 Salaries 0 62,613 (62,613) 0 54,718 (54,718) (57,197) (52,755) Misc Rev/Exp (*) 496 7,464 (6,968) 338 2,182 (1,844) (8,064) (7,047)Total $114,588 $130,024 ($15,436) $88,274 $103,076 ($14,802) ($12,922) ($14,693)

(*) Supplies, shipping, parking discounts, credit card expenses

2017 2017 2017 2016 2016 2016 2015 2014Gross Direct Operating Gross Direct Operating Operating Operating

Revenues Expenses Results Revenues Expenses Results Results ResultsJanuary 13,024$ 15,870$ (2,845)$ 9,172$ 13,317$ (4,146)$ (1,707)$ (560)$ February 16,045 18,945 (2,900) 13,009 17,020 (4,010) (6,269) (5,087) March 16,639 21,843 (5,204) 14,855 18,313 (3,459) (1,966) (3,726) April 20,962 21,731 (769) 11,380 14,573 (3,193) (4,194) (6,960) May 21,994 23,314 (1,320) 21,103 19,174 1,929 (249) (701) June 25,923 28,321 (2,398) 18,756 20,679 (1,923) 1,463 2,341 July 23,076 22,922 154 (2,415) 1,355 August 22,345 23,835 (1,491) 2,934 (2,079) September 21,696 21,803 (107) (3,477) 17 October 26,533 23,441 3,092 2,335 (2,224) November 24,940 22,851 2,089 (2,194) 41 December 28,188 39,439 (11,250) 3,583 3,225 Total $114,588 130,024$ ($15,436) 235,053$ 257,368$ ($22,315) ($12,155) ($14,358)

YTD 114,588$ 130,024$ (15,436)$ 88,274$ 103,076$ (14,802)$ (12,922)$ (14,693)$

$(12,000)

$(10,000)

$(8,000)

$(6,000)

$(4,000)

$(2,000)

$-

$2,000

$4,000

$6,000


Rev

enue

Departure Operating Results

2017 2016 2015 2014

Albany International AirportDeparture Revenue and Expenses

2014 - 2017

87

Total2017 This Month Year to Date

Budget Budget Actual Budget Actual VarianceRevenue

Museum Shop $139,068 $10,867 $15,879 $54,276 $74,434 $20,158Direct Buy 83,692 6,798 9,917 29,249 39,658 10,409Shipping 599 158 94 358 458 100Layaway 0 0 0 0 0 0Miscellaneous 0 0 0 0 0 0Over/(Short) 0 0 33 0 48 48Gift Cert. Redeemed/(Sold) 0 0 0 0 (10) (10)

Total Revenues $223,360 $17,823 $25,923 $83,883 $114,588 $30,705

ExpensesSalaries and Benefits

Salaries $87,700 $6,391 $9,728 $45,536 $43,014 $2,522Benefits 25,531 1,959 2,622 12,879 19,600 (6,721)

Total Salaries and Benefits 113,231 8,349 12,350 58,414 62,613 (4,199)Museum Shop 80,910 6,340 9,075 35,390 43,329 (7,939)Direct Buy 30,671 2,997 2,733 12,204 16,617 (4,413)Consultant 0 0 4,000 0 4,000 (4,000)Shipping 508 45 33 247 239 8Parking 440 61 58 205 250 (45)Telephone 178 3 18 79 87 (8)Travel/Membership/Donations 344 0 0 130 433 (303)Equipment/Repairs/Loss/Supplies 3,685 876 55 1,474 2,455 (981)Credit Card Fees 8,033 0 0 0 0 0

Total Expenses $238,000 $18,671 $28,321 $108,143 $130,024 ($21,881)

Net Revenues ($14,640) ($848) ($2,398) ($24,260) ($15,436) $8,824

Albany International AirportDeparture Operating Summary


88

Variance




AUTHORITYAdministration 23.00 22.00 22.00 22.00 22.00 22.00 22.00 -1.00

Total Authority Positions 23.00 22.00 22.00 22.00 22.00 22.00 22.00 0.00 0.00 0.00 0.00 0.00 0.00 -1.00

Total Airport Positions 231.00 211.75 213.75 214.50 210.75 210.75 212.00 0.00 0.00 0.00 0.00 0.00 0.00 -19.00

89

ACAA Performance Measurements


ActualACAA's total full time employment equivalents 24 22 22 23 22Community meetings 61 63 70 50 34Aviation conferences/meetings 23 36 29 15 20Open Accounts Receivable/Total Operating Revenues 4.6% 4.2% 4.2% 3.0% 4.2%Open Accounts Payable/Total Operating Expenses 1.8% 1.7% 1.9% 1.6% 1.9%SPDES Permit yes yes yes yes yesFAA: Part 139 Operation Compliance yes yes yes yes yes Part 77 Airspace Compliance yes yes yes yes yes Part 150 Noise Program yes yes yes yes yes Part 121 Air Cargo Carriers yes yes yes yes yesUpdate maps & charts of Airport yes yes yes yes yesLandside building rent increase/(decrease) from previous year -2% 9% 8% 21% 5%T Hangar rent increase/(decrease) from previous year 7% -6% -3% 3% -3%Tie Down rent increase/(decrease) from previous year -51% -6% -6% 49% 59%Landside land rent increase/(decrease) from previous year -2% -1% 4% 5% 16%DBE Participation for construction/engineer contractors 9% 9% 9% 9% 9%MWBE Participation for construction/engineer contractors 39% 30% 30% 20% 30%Minority Representation in the Workforce-Concessions HMS Host 17% 24% 28% 22% 30% McDonalds 48% 32% 44% 45% 52% Villa Fresh Italian Kitchen/Green Leafs 48% 57% 53% 50% 56% Paradies 24% 29% 37% 35% 41% Dunkin Donuts 53% 52% 33% 45% 46%Ambassador Program-hours volunteered 16,647 15,428 15,879 16,000 8,083Ambassador assistance - landside 49,516 51,313 66,111 60,000 67,366Ambassador assistance - airside 21,301 24,461 31,768 28,000 14,883Canine assistance-landside (new for 2015) N/A 23,016 45,294 30,000 53,416Canine assistance-airside (new for 2015) N/A 5,427 6,442 6,500 4,057Concession revenue increase from previous year 10.4% 4.1% 3.7% 1.1% 4.7%Business Center Visitors (new for 2017) N/A 1124 1278 N/A 752Community tours 29 35 33 30 20

Albany International Airport2017 ACAA Performance Measurements


90


InvestmentReport

91

DATES

INV. MAT. SECURITY AMOUNT INTEREST RATE

1999 EFC RESERVE FUND - M&T

1-01-17 4-15-17 SLGS 277,389$ * 2,480$ 3.093%4-15-17 10-15-17 SLGS 277,389 4,290 3.093%

10-15-17 12-31-17 SLGS 277,389 * 1,810 3.093%277,389$ 8,579$

* (2017 Interest Only)

ALBANY COUNTY AIRPORT AUTHORITY

INVESTMENT REPORT

JUNE 30, 2017

92

Documents

FINANCIAL REPORTflyalbany.com/uploads/files/June_2017_for_web.pdf · 2017 Market Total 2017 2017 vs. Total 2016 2016 vs. Share Enplanements 2016 Enplanements 2015 American (formerly