HaywardAirportNoise.org


Hayward Executive Airport
Operating Revenues


The City of Hayward operates the airport as an "enterprise fund" -- the airport is self-supporting, neither contributing to nor receiving funds from the city's general treasury.

The primary sources of revenue for the airport are rents for aircraft storage hangars, buildings, and land. Leaseholders on airport property operate non-aviation-related as well as aviation-related facilities. Additional revenue comes from fees on the sale of aviation fuels and tie-down fees. The airport also receives revenue from property taxes imposed on aircraft based at the airport.

The airport's debt service is related to construction of T-hangars, for which "certificates of participation" were issued in 1986.

Note (Feb. 13, 2015): Financial data since 2000 is being researched for posting here.


Actual
1998-1999

1999-2000

Revenues
Building rent$45,039$46,500
Hangar rent723,233732,613
Land rent (1)614,119651,000
Tie-down rent25,11925,119
Permits2,8632,855
Transit A/C parking1,4391,000
Commissions (2)287,542291,855
Other income5,3851,500
Property tax (A/C)96,27198,196
Interest income (3)132,931148,000
TOTAL REVENUES$1,933,941$1,998,639
Expenses
Employee services640,554675,889
Maint./utilities111,771128,258
Supplies/services206,877283,728
Interdepartmental charges65,41469,807
Capital acquisitions37,15911,000
State loan (principal)10,32710,326
State loan (interest)10,96410,177
TOTAL EXPENSES$1,083,066$1,189,185
Transfer to Other Funds
Administrative overhead149,501149,501
Liability insurance33,51433,514
Future expected debt
service

0

210,000
Hangar debt (COP) (4)233,220627,135
TOTAL TRANSFER
FUNDS

$416,235

$627,135
TOTAL EXPENSES AND
TRANSFERS

$1,499,301

$1,816,320
NET OPERATING INCOME$434,640$182,319
WORKING CAPITAL$3,208,547$2,962,866
CIP transfer to 632 (5)$428,000$500,000
ENDING WORKING
CAPITAL BALANCE

$2,780,547

$2,462,866

1. If the proposed Home Depot becomes operational, anticipated land rent from this facility would be about $438,000.

2. Commissions include fuel flowage and percentage of rents from Festival Theater (later replaced by Target store) and Skywest Golf Course (H.A.R.D.).

3. Interest income estimated at 4.5 percent of ending balance of the operating fund.

4. COP = certificate of participation (similar to lease revenue bonds). Final payment in April 2003.

5. Operating funds transferred to CIP (capital improvement fund) for anticipated projects under the airport master plan.