Monday, May 1, 2017

Jackson Hole Airport (KJAC) budget ask tops $9M

Jackson Hole Airport officials are proposing a budget topping $9.16 million, a sharp 17 percent increase from what it cost to run the publicly administered enterprise a year ago.

The rising cost of operating the airport, which sits on 533 acres of leased Grand Teton National Park property, has become the norm. In the decade between fiscal years 2007 and ’17, the expense budget will have grown by about 160 percent. Income over that period has continued apace, and airport officials say the increases are due mostly to new, larger facilities like the terminal building and other capital projects.

The Jackson Town Council and Teton County Board of County Commissioners — which appoint the airport board — are set to review the budget at a meeting that begins at 3 p.m. today.

Tax dollars are not a component of the budget, although Jackson Hole Airport is a frequent recipient of federal and state grants.

The largest revenue generator for the airport is the airlines, providing a forecasted 37 percent of income, followed by rental car companies, at 29 percent. The largest expenses are payroll, accounting for 26 percent of costs, and repairs and maintenance of buildings and equipment, at 14 percent.

Jackson Hole Airport’s recently completed financial plan predicts more growth — by 2022 airport revenue is expected to exceed $17.25 million. That would mean a spending increase of nearly fivefold in a 15-year span.

Original article can be found here: http://www.jhnewsandguide.com

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