03/23/2017

Meeting Minutes for:
Finance Committee Meeting
Yuma International Airport, Conference Room
Thursday, March 23, 2017 at 12:06 PM

    Call to Order:
    The Yuma County Airport Authority, Inc. (YCAA) Finance Committee Meeting of the Board of Directors was called to order at 12:06PM on March 23, 2017 in the Yuma International Airport Conference Room, 2191 E. 32nd Street, Suite 218, Yuma, Arizona 85365. The Presiding officer was Jonathan Matheus, Chairman.

    YCAA FINANCE COMMITTEE MEMBERS PRESENT WERE:
    Jonathan Matheus, Chairman and YCAA Treasurer
    Ronald Rice, Member and YCAA President (joined the meeting at 12:10PM)
    Stan Gourley, Member and YCAA 1st Vice President
    Linda Morgan, Member and YCAA Secretary (exited the meeting at 1:41PM)
    Dr. Brian Cullen, DMD, Member and YCAA Director (exited the meeting at 1:40PM)
    Albert Gardner, Member and YCAA Director

    YCAA FINANCE COMMITTEE MEMBERS ABSENT WERE:
    None

    ALSO PRESENT WERE:
    Gladys Wiggins, Airport Director
    Gerald Hinkle, Jr., Chief Financial Officer

    REGULAR AGENDA
    1) Discussion and Possible recommendation regarding the FY17 Budget and the Authorities budgeting process.

    The Committee was provided a basic overview of the FY17 Budget. Gerald Hinkle, Jr. presented the fiscal budgeting process.  The current financial results as compared to the first five months of the annual budget were also presented. The Committee also discussed the upcoming process in adopting the upcoming FY18 Budget.

    2) Discussion and Possible recommendation regarding options available for the paid parking lot.

    Ms. Wiggins described the history of the passenger terminal parking lot including agreements in place with the current service provider. She followed with a presentation of revenues generated by the lot enjoyed by the service provider Republic Parking Systems, as well as the resulting concessions received by the Airport Authority as a result of our existing agreement.

    Ms. Wiggins explained how staff has begun to negotiate with our current service provider since our existing agreement is set to expire in January of 2018. The Committee discussed directions available, including continuing down the existing path of a third party managed, manned lot, a third party managed automated lot and having the Authority take over management of the lot through an un-manned automated system.

    3) Discussion and Possible recommendation regarding the lease opportunities of the Wrong Way hangar.

    Ms. Wiggins explained with Skylancer Aviation vacating the Wrong Way hangar at the end of March, 2017 staff has begun to market the hangar to potential tenants. Interested parties, at this point include those interested in utilizing the hangar for the storage of aircraft, in a non-commercial environment. The Committee discussed this scenario, as well as prospects for landing another aircraft maintenance repair organization or MRO.

    4) Discussion and Possible recommendation regarding the expenditure of operational funds dedicated in the FY17 Budget as Capital Outlay.

    Ms. Wiggins briefed the Committee on the recent projects recently as well as upcoming projects to be funded within our operational budget.

    ADJOURNMENT
    There being no further business before the Board the meeting adjourned at 1:57PM.



    // Approved //
    Jonathan Matheus
    YCAA Treasurer; YCAA Treasurer and Finance Committee Chairman
    Other Board Minutes

    Group IconTue Apr 9, 2024 -- April Board
    Group IconTue Mar 12, 2024 -- March Board
    Group IconTue Feb 13, 2024 -- February Board
    Person IconThu Feb 8, 2024 -- Finance Committee Meeting Minutes
    Group IconTue Jan 9, 2024 -- January Board
    Group IconTue Jan 9, 2024 -- Annual Board Meeting 2024
    Group IconTue Dec 12, 2023 -- December Board
    Group IconTue Nov 14, 2023 -- November Board
    Person IconMon Oct 30, 2023 -- Strategic Planning Committee
    Person IconTue Oct 24, 2023 -- Executive Committee
    Group IconTue Oct 10, 2023 -- October Board
    Person IconMon Sep 18, 2023 -- Elections and Personnel Committee
    Group IconTue Sep 12, 2023 -- September Board
    Group IconMon Aug 28, 2023 -- Special Board
    Person IconThu Aug 17, 2023 -- Finance Committee
    Group IconTue Aug 8, 2023 -- August Board
    Person IconTue Aug 1, 2023 -- Elections and Personnel Committee
    Group IconTue Jun 13, 2023 -- June Board
    Person IconWed Jun 7, 2023 -- Strategic Planning Committee
    Group IconTue May 9, 2023 -- May Board
    Person IconFri May 5, 2023 -- Finance Committee
    Group IconTue Apr 11, 2023 -- April Board
    Person IconWed Apr 5, 2023 -- Strategic Planning Committee
    Group IconTue Mar 14, 2023 -- March Board
    Group IconTue Feb 14, 2023 -- February Board
    Person IconWed Feb 8, 2023 -- Finance Committee
    Person IconFri Jan 27, 2023 -- Finance Committee
    Person IconThu Jan 19, 2023 -- Strategic Planning Committee
    Group IconTue Jan 10, 2023 -- January Board
    Group IconTue Jan 10, 2023 -- Annual Board Meeting 2023