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.
|Land rent (1)||614,119||651,000|
|Transit A/C parking||1,439||1,000|
|Property tax (A/C)||96,271||98,196|
|Interest income (3)||132,931||148,000|
|State loan (principal)||10,327||10,326|
|State loan (interest)||10,964||10,177|
|Transfer to Other Funds|
|Future expected debt|
|Hangar debt (COP) (4)||233,220||627,135|
|TOTAL EXPENSES AND|
|NET OPERATING INCOME||$434,640||$182,319|
|CIP transfer to 632 (5)||$428,000||$500,000|
|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.