08/12/2016

Meeting Minutes for:
Finance Committee Meeting
Yuma International Airport, Conference Room
Friday, August 12, 2016 at 01:37 PM

    Call to Order:
    The Yuma County Airport Authority, Inc. (YCAA) Finance Committee Meeting of the Board of the Board of Directors was called to order at 1:37 PM on August 12, 2016 in the Yuma International Airport Conference Room, 2191 E. 32nd Street, Suite 218, Yuma, Arizona 85365. The Presiding officer was Jonathon Matheus, Chairman.

    YCAA DIRECTORS PRESENT WERE:
    Jonathan Matheus, Chairman
    Linda Morgan, Member (arrived 1:42pm)
    Dr. Brian Cullen, Member (attended electronically)
    Stan Gourley, Member

    YCAA DIRECTORS ABSENT WERE: NONE

    ALSO PRESENT WERE:
    Gladys Wiggins, Airport Director
    Gerald Hinkle, Jr., Chief Financial Officer
    Gabby Reyes, Finance Manager
    Ken Scott, ASN Volunteer

    REGULAR AGENDA
    1) Finance Committee discussion and recommendation on the proposed budget for the Yuma County Airport Authority FY17.

    Ms. Wiggins went over the proposed FY17 annual budget in detail. The Committee discussed elements of revenues and expenses contained within at great length. Ms. Wiggins pointed out that the FY17 proposed budget as delivered ahead of the meeting contained an estimate of the cost of the expected increase in health insurance related employee benefits. Since that version of the proposed budget was prepared, staff had established the actual numbers which will be included in the revised version of the proposed FY17 budget moving forward.

    Mr. Matheus requested that staff provide additional details related to actual expenses incurred for the past three fiscal years for additional consideration ahead of the next meeting of the Finance Committee scheduled for Wednesday August 17.

    During the discussion related to FY17 debt service requirements, Ms. Wiggins described to the Committee that the investments on airport being made with remaining funds available from Note #2004 are just about complete. Ms. Wiggins explained that it is expected that all remaining funds available on Note #2004 will be expended in order complete the improvements, including necessary security camera investments to ensure compliance with increased security directives ahead of receiving regular scheduled larger commercial aircraft.

    ADJOURNMENT
    There being no further business before the Board the meeting adjourned at 3:20PM.




    // Approved //
    Jonathan Matheus
    YCAA Treasurer; YCAA Treasurer and Finance Committee Chairman


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