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Attachment A - Financial Analysis 2

Special Meeting, July 23, 2026 · item 3A: Consideration of a motion to approve the continued operation of the airport in accordance with Boulder Revised Code 1981 sections 11-4 Airpo… · 5 pages

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BDU AIRPORT FINANICAL ANALYSIS SCENARIO NO.1(04.26)

Date: April 23, 2026

Grant Revenue Assumptions: Yes to FAA entitlements + discretionary requests on combined projects >$1M. Yes CDOT. Development Revenue Assumptions: Aggresive. CIP Assumptions: Per Master Plan with limited reductions. Aviation Activity (Source) Aircraft Operations (Airport Records) / Growth Rate is Based on Current TAF Based Aircraft (Airport Records) / Growth Rate is Based on Current TAF Starting Cash Position (Cumulative) Revenues 475495 Airport Rental (1) 475495 Revenue From New Lease Terms 420695 Fuel Flowage Fees

(2)

Actuals

Base Year (In 2024's dollars)

FY 2018

FY 2019

FY 2020

FY 2021

FY 2022

FY 2023

49,352 190 $1,989,129

49,352 190 $2,143,303

49,352 190 $1,975,428

50,027 190 $2,130,026

58,932 190 $1,983,527

$

CPI inflation (16) $ 719,000

$

43,905 190 1,826,776

$

628,769

$

472,686

$

554,803

$

598,429

$

650,749

$

792,508

$

-

$

-

$

-

$

-

$

-

$

-

1,716,603

FY 2024

FY 2025

FY 2026

FY 2027

60,783 191 $ 1,716,603 $ 3.10%

69,722 192 958,032 $ 3.10%

70,698 193 756,833 $ 3.10%

71,688 72,692 194 195 175,986 $ 385,371 $ 3.10% 3.10%

$726,161

$734,940

$807,160

$

5,822

$

6,622

$

5,655

$

6,445

$

5,254

$

6,225

$

6,000

420695 Late Fees

$

-

$

-

$

1,135

$

129

$

-

$

-

$

-

420695 Miscellaneous (3)

$

(89) $

61

$

(1,584) $

279

$

1,841

$

(477)

420695 Taxes

$

7,720

$

2,813

$

158

$

783

$

-

$

-

$

-

420695 Utilities (3)

$

3,943

$

10,100

$

7,997

$

12,311

$

15,059

$

16,700

$

17,000

$16,000

$16,496

420695 Leases Rents Royalties (3)

$

-

$

16,244

$

23,002

$

14,851

$

13,965

$

11,719

$

12,000

$11,000

$11,341

Construct Hangar A - New Ground Lease Revenue (14)

$

-

$

-

$

-

$

-

$

-

$

-

$

Construct Hangar B - New Ground Lease Revenue (15)

$

-

$

-

$

-

$

-

$

-

$

-

$

Construct Hangar C & Parking- New Ground Lease Revenue (16)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Construct Hangar D and Parking - New Ground Lease Revenue

(17)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Construct Hangar E and Parking - New Ground Lease Revenue

(18)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Construct Hangar F and Parking - New Ground Lease Revenue (19)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Construct Hangar G & Parking - New Ground Lease Revenue (20)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

$

-

$

-

$

-

$

-

Construct Hangar H and Parking - New Ground Lease Revenue

(21)

Construct Hangar I - New Ground Lease Revenue (22) (23)

$6,224

$

907,182

$

935,305

$

964,299

$

994,192

$

1,025,012

$

1,056,788

$

1,089,548

$

1,123,324

$

1,158,147

$

1,194,050

$

1,231,065

$

1,269,228

$

1,308,574

$

1,349,140

$

1,390,963

$

19,265,079

$

62,149

$

124,298

$

128,151

$

132,124

$

136,220

$

140,443

$

144,796

$

149,285

$

153,913

$

158,684

$

163,603

$

168,675

$

173,904

$

179,295

$

184,853

$

2,200,393

$

7,542

$

7,776

$

8,017

$

8,265

$

8,521

$

8,785

$

9,058

$

9,339

$

9,628

$

9,927

$

10,234

$

10,552

$

10,879

$

11,216

$

11,564

$

161,935

$

-

$17,007

$

22,385

$

23,079

$

23,794

$

24,532

$

25,292

$

26,076

$

26,885

$

378,021

$11,693

$

12,055

$

12,429

$

12,815

$

13,212

$

13,621

$

14,044

$

14,479

$

14,928

$

15,391

$

15,868

$

16,360

$

16,867

$

17,390

$

17,929

$

18,484

$

259,904

-

$

6,468

$

6,669

$

6,876

$

7,089

$

7,308

$

7,535

$

7,769

$

8,009

$

8,258

$

8,514

$

8,778

$

9,050

$

9,330

$

101,652

-

$

6,468

$

6,669

$

6,876

$

7,089

$

7,308

$

7,535

$

7,769

$

8,009

$

8,258

$

8,514

$

8,778

$

9,050

$

9,330

$

101,652

$

32,735

$

33,750

$

34,796

$

35,875

$

36,987

$

38,134

$

39,316

$

40,535

$

41,791

$

43,087

$

44,422

$

45,800

$

$

10,193

$

10,509

$

10,835

$

11,171

$

11,517

$

11,874

$

12,242

$

12,621

$

13,013

$

13,416

$

13,832

$

14,261

$

145,483

$

149,759

$

154,402

$

159,188

$

164,123

$

169,211

$

174,456

$

179,864

$

185,440

$

191,189

$

197,116

$

1,724,748

$

88,601

$

91,348

$

94,179

$

97,099

$

100,109

$

103,212

$

106,412

$

109,711

$

790,671

$

43,756

$

45,112

$

46,511

$

47,953

$

49,439

$

50,972

$

52,552

$

54,181

$

474,080

$

21,562

$

22,231

$

22,920

$

23,630

$

24,363

$

25,118

$

139,824

-

$

6,273

$

6,467

$

6,667

$

6,874

$

26,281

$

-

$

56,258

$

58,002

$

59,800

$

61,653

$

235,712

$

150,000

$

1,132,872

$

150,000

$

1,444,698

$

26,085,156

$

56,644

$

72,235

$

3,252,845 2,110,936

$

$ 5,074,724

$

30,000

$

34,780

$

-

$

-

-

$

-

$

-

$

-

$

-

$

-

$

14,400

$

-

$

-

$

28,600

$

-

$

23,504

$

39,490

$

43,692

$

32,536

$

27,320

$

44,617

$

45,000

$59,993

$

-

$

5,314

$

23,723

$

6,674

$

7,756

$

9,417

$

9,000

$6,900

$

808,000

$

41,164

150,000

$

$

42,440

$

2,038,468

$

2,953,760

$

8,122,292

$

150,000

$

1,187,088

$450,000

$

101,923

$

147,688

$

406,115

$

1,543,587

$

59,354

150,000

$41,210

$31,450

$

8,271

$

18,112

$

26,831

$

42,839

$

40,468

$

58,323

$

85,820

$

$6,181

$6,372

$

6,570

$

6,773

$

6,983

$

7,200

$

7,423

$

7,653

$

7,890

$

$

267,273

$

275,558

$

284,101

$

292,908

$

$

3,234,173

$

2,831,088

$

1,991,294

$

2,074,062

$

3,157,934

$

150,000

$

(16)

826,278

$

817,263

$

1,330,997

$

3,161,695

$

4,224,219

1,031,037

$

5,959,048

$

1,315,893

$

51,552

$

297,952

$

65,795

91,516

$

127,982

$

139,280

$

180,771

$

221,722

$

268,143

$

320,110

$

348,096

$

8,135

$

8,387

$

8,647

$

8,915

$

9,191

$

9,476

$

9,770

$

10,073

$

142,539

301,988

$

311,350

$

321,002

$

330,953

$

341,212

$

351,790

$

362,695

$

373,939

$

3,814,768

9,707,077

$

8,430,310

$

3,651,263

$

2,527,105

$

2,698,673

$

3,856,745

$

2,943,568

$

4,415,164

$

61,878,907

3.10%

3.10%

$

278,703

$

369,253

$

416,711

$

299,540

$

361,251

CPI inflation $

3.10%

431,800

445,000

$843,227

$653,786

$759,541

$

732,287

$

754,988

$

778,392

$

802,522

$

827,401

$

853,050

$

879,495

$

906,759

$

934,868

$

963,849

$

993,729

$

1,024,534

$

1,056,295

$

1,089,040

$

1,122,800

$

15,976,563

$

31,131

$

403,664

$ 5,504,432

$

225,310

$

559,941

$

781,491

$

697,000

$707,126

$265,991

$526,055

$

338,864

$

349,369

$

360,199

$

371,365

$

382,878

$

394,747

$

406,984

$

419,600

$

432,608

$

446,019

$

459,846

$

474,101

$

488,798

$

503,951

$

519,573

$

7,848,073

(25)

$

44,386

$

44,565

$

45,234

$

45,234

$

43,741

$

33,491

$

33,000

$34,496

$98,685

$118,247

$

124,159

$

130,367

$

136,886

$

143,730

$

150,916

$

158,462

$

166,385

$

174,705

$

183,440

$

192,612

$

202,242

$

212,355

$

222,972

$

234,121

$

245,827

$

2,930,608

Total O&M Expenditures:

$

507,317

$

726,932

$ 5,918,919

$

687,255

$

903,222

$ 1,176,233

$

1,175,000

1,403,843

$

1,195,310

$

1,234,724

$

1,275,477

$

1,317,618

$

1,361,195

$

1,406,259

$

1,452,864

$

1,501,064

$

1,550,916

$

1,602,480

$

1,655,817

$

1,710,990

$

1,768,065

$

1,827,112

$

1,888,200

$

26,755,245

Total Revenue - Less O&M Expenditures

$

162,352

$

154,174

$ (167,875) $

154,598

$ (146,499) $ (266,924)

$

35,123,662

End Cash Position Before Reserves (Cumulative)

$

1,989,128

$

3,978,714

Operations, Maintenance & Capital Expenses (6) Cost Allocation

$2,143,303

$1,975,428

$2,130,026

$1,983,527

$1,716,603

Reserves

3.10%

3.10%

$

1,916,556

$

1,469,893

$

585,034

$

621,198

$

1,656,870

$

6,879,394

$

2,048,783

$

871,289

$

987,683

$

2,088,680

$

1,116,456

$

2,526,964

$

958,032

756,833

683,986

2,142,371

$

3,374,866

$

9,002,466

$

2,828,021

$

2,330,915

$

1,825,949

$

2,447,147

$

3,604,017

$

9,602,411

$

5,012,194

$

4,717,482

$

5,705,165

$

7,793,845

$

7,927,301

$

9,933,265

$

274,276

$

100,205

$

98,771

$

149,663

$

149,663

$

150,000

$

258,909

8,989

$

6,458

$

6,458

$

6,855

$

6,855

$

7,000

$

7,217

$

138,275

$

139,200

$

123,459

$

122,529

$

156,518

$

156,518

$

157,000

$

266,126

$

$

1,850,853

691,906

$

$

Capital Project Expenditures

$

#REF! Compound CPI Project Escalation Rate

$

16.70%

113,904

Project Year(s)

3.10%

8,431,600

$

Capital Projects (9) (10)

3.10%

$

$

$1,560,085

3.10%

2,989,495

8,808

$1,827,009

3.10%

$

113,635

$2,007,497

3.10%

1,966,385

$

$1,851,969

3.10%

(72,846) $

$

$2,004,103

3.10%

(201,199) $

Pay Period 27 (2024) (8)

End Cash Position After Reserves (Cumulative)

3.10%

(758,571) $

Designated (7)

Total Reserves:

3.10%

$

$

$

3.10%

1,584,849

16.70%

1,018,462

3.10%

$

Reserve %

$

3.10%

-

$

O& M Expenditures Airport Management

3.10%

$

467,228

$

$

Ground Lease Collected from Tract 4 & 6 (13) 909,309

-

$ 21,712

1,200

$

Totals

$

326,575

756,723

87,092 208 7,406,301 3.10%

21,059

$

$

FY 2041

$

$

841,853

FY 2040

20,426

$

$

FY 2039

$

-

$ 5,751,044

FY 2038

19,812

-

881,106

FY 2037

81,243 82,381 83,534 84,703 85,889 203 204 205 206 207 2,963,411 $ 3,846,194 $ 4,717,482 $ 5,705,165 $ 6,810,845 $ 3.10% 3.10% 3.10% 3.10% 3.10%

$

-

$

FY 2036

19,216

$

669,669

FY 2035

$

$

$

FY 2034

18,638

$

(5)

FY 2033

76,849 77,924 79,015 80,122 199 200 201 202 1,240,915 $ 1,825,949 $ 1,947,147 $ 2,723,017 $ 3.10% 3.10% 3.10% 3.10%

$

N/A BIL Federal Grant (4) 465150 State Grant Discretionary & State Match (5%) (4)

Total Revenue:

FY 2032

18,078

-

460095 Intergovernmental Tax Revenue(3)

FY 2031

$

$

470305 Interest on Investments

74,741 75,787 197 198 911,466 $ 861,021 $ 3.10% 3.10%

17,534

-

(12)

FY 2030

73,709 196 570,866 $ 3.10%

$

$

465105 AIP Federal Grant

$7,315

FY 2029

$

(4)

Construct J Tie-Down Expansion - New Ground Lease Revenue

$7,095

FY 2028

153,603

$

153,603

$

603,230

$

#REF!

3.10%

$

16.70% 214,695

16.70% $

214,695

$

469,292

$

#REF!

6.20%

178,882

16.70% $

178,882

$

1,963,489

$

#REF!

9.30%

184,428

16.70% $

184,428

$

3,190,439

$

#REF!

12.40%

190,145

16.70% $

190,145

$

8,812,321

$

#REF!

15.50%

196,039

16.70% $

196,039

$

2,631,982

$

#REF!

18.60%

202,116

16.70% $

202,116

$

2,128,798

$

#REF!

21.70%

208,382

16.70% $

208,382

$

1,617,567

$

#REF!

24.80%

214,842

16.70% $

214,842

$

2,232,306

$

#REF!

27.90%

221,502

16.70% $

221,502

$

3,382,515

$

#REF!

31.00%

228,369

16.70% $

228,369

$

9,374,042

$

#REF!

34.10%

235,448

16.70% $

235,448

$

4,776,746

$

#REF!

37.20%

242,747

16.70% $

242,747

$

4,474,735

$

#REF!

40.30%

250,272

16.70% $

250,272

$

5,454,893

$

#REF!

43.40%

258,030

16.70% $

258,030

$

7,535,814

$

#REF!

46.50%

266,029

16.70%

266,029

$

7,661,271

$

#REF!

49.60%

274,276

$

7,217

$

3,985,931

$

4,725,168

$

2,404,312

9,658,988 #REF!

52.70%

55.80%

Airside Pavements Rehabilitate Runway 8-26

FY 2035

Seal Coat / Crack Seal Runway 8-26

FY 2031

Seal Coat / Crack Seal Runway 8G-26G

$

3,444,000

FY 2036

FY 2041

$

531,000

FY 2030

FY 2035

$

114,000

$ $

934,000 162,000

$

790,000

$

138,000

Rehabilitate Taxiways A (A1 to A4), A1, A2, A3, and A4 Seal Coat / Crack Seal Taxiways A (A1 to A4), A1, A2, A3, and A4 Rehabilitate Taxiways A (A4 to A6), A5, and A6

FY 2029 FY 2031 FY 2035

FY 2036

FY 2041

Seal Coat / Crack Seal Taxiways A (A4 to A6), A5, and A6

FY 2031

FY 2036

FY 2041

Rehabilitate West Apron

FY 2029

Seal Coat / Crack Seal West Terminal Apron

FY 2027

Rehabilitate Central Apron

FY 2029

Seal Coat / Crack Seal Central Apron

FY 2027

Rehabilitate East Apron

FY 2029

Seal Coat / Crack Seal East Apron

FY 2027

Reconstruct Southeast Apron

FY 2029

Seal Coat / Crack Seal Terminal Apron

FY 2027

FY 2034

FY 2039

FY 2034

FY 2039

$

1,561,000

$

160,000

$

1,931,000

$

207,000

$

1,736,000

$

169,333

$ $ $

$

169,333

$

169,333 $

179,840

$

232,668

$

FY 2039

$ $

251,000 560,000

$

282,124

FY 2034

FY 2039

$

39,000

$

43,836

FY 2028

$

335,000

Reconstruct Airport Entrance (Loop) Road

FY 2030

$

1,147,000

$

$

341,000

FY 2028 FY 2029

$ $

200,000 100,000

Acquire Snow Removal Equipment (SRE) - Broom

FY 2030

$

40,000

FY 2027

$

30,000

Install East AOA Fencing

FY 2028

$

272,000

$

272,000

Relocate and Replace Fuel Facility

FY 2028

$

1,992,000

$

2,300,760

FY 2029

480,000

Maintain Airport Office (3327) Environmental

FY 2031

$

42,000

Develop Airport CATEX Planning

FY 2027

$

150,000

$

168,600

FY 2027

$

700,000

$

700,000

FY 2027

$

150,000

$

150,000

FY 2033

$

500,000

Update Airport Exhibit A

FY 2030

$

250,000

$

19,506,000

$

$

172,224

$

664,160

$

227,286

$

193,614

$

-

$

-

$

$ $

958,032 958,032

$ $

(201,199) $ 756,833 $

252,396

$

214,560

$

239,360

$

215,004

$

750,175

$

1,851,346

$

277,587

$

309,672

$

336,591

$

375,496

$

52,299

$

58,344

1,395,899 467,852

$

520,707

231,000 118,600 -

-

$

$

-

$

$

250,000

1,757,000

$

2,804,000

$

8,091,000

$

1,967,000

(580,846) $ 175,986 $

209,385 385,371

$ $

185,495 570,866

$ $

340,600 911,466

$ $

-

$

633,760

$

2,290,166

$

819,927

$

2,058,896

$

994,211

$

664,160

$

154,479

$

$

1,090,000

$

(50,444) $ 861,021 $

379,893 1,240,915

$ $

585,034 1,825,949

205,800

$

$

500,000

$

500,000

$

881,000

$

6,639,000

$

1,166,000

$

$ $

121,198 1,947,147

$ $

775,870 2,723,017

$ $

240,394 2,963,411

$ $

882,783 3,846,194

$ $

233,700

1,395,899

$

988,559

$ $

231,000 118,600

$

-

$

-

$

272,000

$

2,300,760

871,289 4,717,482

$ $ $

987,683 5,705,165

-

$

-

$

52,416

$

790,650

$

700,000

$

150,000

$ -

-

$

$

-

52,416

182,550

$

508,000

$

$ $ $

$

$

Aviation Easements (West End RPZs)

18-Year Net Cash Position Notes:

202,176

$

Noise Study per Master Plan Update

End Cash Position After Capital Projects (Per Year) End Cash Position After Capital Projects (Cumulative)

2,058,896

$

Update Master Plan and Airport Layout Plan

Capital Projects Total (11)

827,298

-

219,000

FY 2041

1,083,880

$

2,290,166

$ $

$

FY 2035

FY 2039

295,146 1,107,724 851,191 1,083,880

744,993

1,851,346

$

$

$

FY 2030

FY 2034

$

$ $

FY 2037

Install Electrical Vehicle Charging Stations

$

$

1,107,724

$

FY 2035

Apply Runway, Taxiway, and Apron Markings

156,408

-

Seal Coat / Crack Seal Airport Entrance (Loop) Road Electrical / NAVAIDs Replace Automated Weather Observation Stations (AWOS) Replace Airport Beacon Equipment Acquire Mowing Tractor w/ Attachments Facilities

FY 2040

4,725,168

$

$ $

FY 2034

Install Vehicle Service Road (VSR) Millings Landside Pavements

$ 662,688

138,738

500,000

$

250,000

$

983,000

$

521,000

$

1,528,000

$

28,434,000

$ $

1,105,680 6,810,845

$ $

595,456 7,406,301

$ $

998,964 8,405,265

$

8,405,265

8,405,265

All footnotes hidden for readability of the spreadsheet

1 of 1

BDU AIRPORT FINANICAL ANALYSIS SCENARIO NO.2 (04.26)

Date: April 23, 2026

Grant Revenue Assumptions: No FAA. No CDOT. Development Revenue Assumptions: Conservative. CIP Assumptions: Limited to seal coats, risks unforcasted pavement rehabs. Aviation Activity (Source) Aircraft Operations (Airport Records) / Growth Rate is Based on Current TAF Based Aircraft (Airport Records) / Growth Rate is Based on Current TAF Starting Cash Position (Cumulative) Revenues 475495 Airport Rental (1) Revenue From New Lease Terms 420695 Fuel Flowage Fees

(2)

Actuals

Base Year (In today's dollars)

FY 2018

FY 2019

FY 2020

FY 2021

FY 2022

FY 2023

49,352 190 $1,989,129

49,352 190 $2,143,303

49,352 190 $1,975,428

50,027 190 $2,130,026

58,932 190 $1,983,527

$

CPI inflation (16) $ 719,000

$

43,905 190 1,826,776

$

628,769

$

472,686

$

554,803

$

598,429

$

650,749

$

792,508

$

-

$

-

$

-

$

-

$

-

$

-

1,716,603

FY 2024

FY 2025

FY 2026

FY 2027

FY 2028

FY 2029

FY 2030

60,783 190 $ 1,716,603 $ 3.10%

69,722 190 958,032 3.10%

70,698 190 756,833 3.10%

71,688 190 175,986 3.10%

72,692 190 (961,020) 3.10%

73,709 190 (3,959,086) 3.10%

74,741 75,787 190 190 (4,082,381) $ (4,206,252) 3.10% 3.10%

$726,161

$734,940

$

$807,160

$

$

$

$

FY 2031

FY 2032

$

FY 2033

FY 2034

FY 2035

76,849 77,924 79,015 80,122 190 190 190 190 (5,113,269) $ (5,767,481) $ (5,578,944) $ (5,681,724) 3.10% 3.10% 3.10% 3.10%

FY 2036

$

FY 2037

FY 2038

FY 2039

FY 2040

81,243 82,381 83,534 84,703 42,352 190 190 190 190 95 (5,487,895) $ (6,457,544) $ (7,200,765) $ (6,999,666) $ (6,796,368) 3.10% 3.10% 3.10% 3.10% 3.10%

FY 2041

$

Totals

21,176 48 (7,854,634) 3.10%

$

907,182

$

935,305

$

964,299

$

994,192

$

1,025,012

$

1,056,788

$

1,089,548

$

1,123,324

$

1,158,147

$

1,194,050

$

1,231,065

$

1,269,228

$

1,308,574

$

654,287

$

327,144

$

17,506,406

$

62,149

$

124,298

$

128,151

$

132,124

$

136,220

$

140,443

$

144,796

$

149,285

$

153,913

$

158,684

$

163,603

$

168,675

$

173,904

$

179,295

$

184,853

$

2,200,393

$

7,542

$

7,776

$

8,017

$

8,265

$

8,521

$

8,785

$

9,058

$

9,339

$

9,628

$

9,927

$

10,234

$

10,552

$

10,879

$

5,439

$

2,720

$

147,315

$

-

$

5,822

$

6,622

$

5,655

$

6,445

$

5,254

$

6,225

$

6,000

420695 Late Fees

$

-

$

-

$

1,135

$

129

$

-

$

-

$

-

420695 Miscellaneous (3)

$

(89) $

61

$

(1,584) $

279

$

1,841

$

(477)

420695 Taxes

$

7,720

$

2,813

$

158

$

783

$

-

$

-

$

-

$

-

420695 Utilities (3)

$

3,943

$

10,100

$

7,997

$

12,311

$

15,059

$

16,700

$

17,000

$16,000

$16,496

$17,007

$

17,534

$

18,078

$

18,638

$

19,216

$

19,812

$

20,426

$

21,059

$

21,712

$

22,385

$

23,079

$

23,794

$

24,532

$

25,292

$

26,076

$

26,885

$

378,021

420695 Leases Rents Royalties (3)

$

-

$

16,244

$

23,002

$

14,851

$

13,965

$

11,719

$

12,000

$11,000

$11,341

$11,693

$

12,055

$

12,429

$

12,815

$

13,212

$

13,621

$

14,044

$

14,479

$

14,928

$

15,391

$

15,868

$

16,360

$

16,867

$

17,390

$

17,929

$

18,484

$

259,904

Construct Hangar A - New Ground Lease Revenue (16)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

6,468

$

6,669

$

6,876

$

7,089

$

7,308

$

7,535

$

7,769

$

8,009

$

8,258

$

8,514

$

8,778

$

9,050

$

9,330

$

101,652

Construct Hangar B - New Ground Lease Revenue (17)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

6,468

$

6,669

$

6,876

$

7,089

$

7,308

$

7,535

$

7,769

$

8,009

$

8,258

$

8,514

$

8,778

$

9,050

$

9,330

$

101,652

Construct Hangar C Hangars & Pavement - New Ground Lease Revenue (18)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

32,735

$

33,750

$

34,796

$

35,875

$

36,987

$

38,134

$

39,316

$

40,535

$

41,791

$

43,087

$

44,422

$

45,800

$

467,228

$

-

$

-

$

-

$

10,193

$

10,509

$

10,835

$

11,171

$

11,517

$

11,874

$

12,242

$

12,621

$

13,013

$

13,416

$

13,832

$

14,261

$

-

$

326,575

$

-

$

Construct D Hangar and Parking - New Ground Lease Revenue 465105 AIP Federal Grant (4) N/A BIL Federal Grant (4) 465150 State Grant

(4)

(19)

$6,224

$7,095

$7,315

$

$

-

$

-

$

-

$

-

$

145,483

$ 5,074,724

$

30,000

$

34,780

$

-

$

-

$

-

-

$

-

$

-

$

-

$

-

$

-

$

$

-

$

1,200

$

14,400

$

-

$

-

$

28,600

$

-

470305 Interest on Investments (12)

$

23,504

$

39,490

$

43,692

$

32,536

$

27,320

$

44,617

$

45,000

$59,993

$41,210

460095 Intergovernmental Tax Revenue(3)

$6,900

$6,181

$

$450,000

1,360,342

$31,450

$

8,271

$

-

$

-

$

-

$

$6,372

$

6,570

$

6,773

$

6,983

-

$

$

7,200

$

267,273

-

$

$

7,423

$

275,558

-

$

$

7,653

$

284,101

-

$

$

7,890

$

292,908

-

$

$

8,135

$

301,988

-

$

$

8,387

$

311,350

-

$

$

8,647

$

321,002

-

$

$

8,915

$

330,953

-

$

$

9,191

$

341,212

$

9,476

$

351,790

1,810,342

$

140,924

$

10,073

$

142,539

$

373,939

$

3,814,768

$

$

9,770

$

362,695

$

-

$

5,314

$

23,723

$

6,674

$

7,756

$

9,417

$

9,000

$

-

$

-

$

-

$

-

$

-

$

-

$

75,860,000

$

Proceeds From Sell of Remaining 138.47 Acres (14)

$

-

$

-

$

-

$

-

$

-

$

-

$

276,940,000

$

$

669,669

$

881,106

$ 5,751,044

$

841,853

$

756,723

$

909,309

$

353,608,000

3.10%

3.10%

431,800

$

278,703

$

369,253

$

416,711

$

299,540

$

361,251

CPI inflation (16) $ 445,000

3.10%

$

$843,227

$653,786

Operations, Maintenance & Capital Expenses (6)

$

31,131

$

403,664

$ 5,504,432

$

225,310

$

559,941

$

781,491

$

697,000

$707,126

$265,991

Cost Allocation (21)

$

44,386

$

44,565

$

45,234

$

45,234

$

43,741

$

33,491

$

33,000

$34,496

$98,685

Total O&M Expenditures:

$

507,317

$

726,932

$ 5,918,919

$

687,255

$

903,222

$ 1,176,233

$

1,175,000

$

154,174

$ (167,875) $

154,598

$

O& M Expenditures (5) Airport Management

Total Revenue - Less O&M Expenditures

$

162,352

End Cash Position Before Reserves (Cumulative)

$

1,989,128

Designated (7)

$

Pay Period 27 (2024) (8)

$

$

$

1,584,849

$

817,263

1,018,462

$

$

1,330,997

$

1,021,303

$

1,104,658

$759,541

$

$526,055

$

$118,247 1,403,843

$

2,512,181

732,287

$

338,864

$

754,988

$

349,369

$

$

124,159

$

130,367

$

1,195,310

$

1,234,724

3.10%

$

1,497,748

$

1,544,178

778,392

$

360,199

$

802,522

$

371,365

$

$

136,886

$

143,730

$

1,275,477

$

3.10%

$ (146,499) $ (266,924)

$

(758,571) $

(201,199) $

(72,846) $

$1,983,527

$1,716,603

$

958,032

$

756,833

$

683,986

113,635

$

113,904

$

100,205

$

98,771

$

149,663

$

149,663

$

150,000

$

258,909

$

153,603

$

214,695

8,808

$

8,989

$

6,458

$

6,458

$

6,855

$

6,855

$

7,000

$

7,217

$

138,275

$

139,200

$

123,459

$

122,529

$

156,518

$

156,518

$

157,000

$

266,126

$

153,603

$

214,695

$

178,882

$

184,428

$

190,145

$

$

1,850,853

$

691,906

$

603,230

$

469,292

$

(176,902)

$

(1,275,513)

$

(2,912,526)

$

$2,004,103

$1,851,969

$2,007,497

$1,827,009

16.70%

$1,560,085

Capital Project Expenditures

16.70%

#REF! Project Year(s)

Capital Projects (9) (10)

Compound CPI Project Escalation Rate

1,980

$

178,882

16.70%

#REF!

3.10%

(1,091,086)

$

184,428

1,236,704

$

$

(2,722,381)

$

$

190,145

16.70%

#REF! 9.30%

(130,065) $

$

16.70%

#REF!

6.20%

(174,007) $

16.70%

#REF!

12.40%

1,592,047

$

1,641,401

827,401

$

382,878

$

853,050

$

394,747

$

$

150,916

$

158,462

1,317,618

$

1,361,195

$

182,983

$

(3,902,252) $ (4,023,269)

180,130

$

$

3.10%

$2,130,026

$

$

3.10%

$1,975,428

Reserve %

Total Reserves:

$

$2,143,303

Reserves

End Cash Position After Reserves (Cumulative)

826,278

16.70% $

#REF!

15.50%

3.10%

196,039

196,039

$

202,116

$ $

#REF!

21.70%

$

1,854,596

879,495

$

406,984

$

963,849

$

446,019

$

$

166,385

$

192,612

1,406,259

$

1,550,916

$

193,828

$

(4,927,481) $ (5,578,944) $ (5,387,724) $ (5,487,895)

185,788

$

$

208,382

208,382

1,744,745

906,759

$

419,600

$

$

174,705

1,452,864

$

188,537

$

$

214,842

214,842

$

1,798,832

934,868

$

432,608

$

$

183,440

1,501,064

$

191,220

$

3.10%

16.70% $

3.10%

16.70% $

$

221,502

$

#REF!

31.00%

#REF!

34.10%

1,912,088

993,729

$

459,846

$

$

202,242

1,602,480

$

1,971,363

$

1,331,846

1,024,534

$

474,101

$

1,056,295

$

488,798

$

$

212,355

$

222,972

1,655,817

$

1,710,990

$

196,352

$

198,779

$

201,099

$

3.10%

$

1,022,818

1,089,040

$

503,951

$

$

234,121

1,768,065

$

1,827,112

203,298

$

(495,266) $

3.10%

235,448

235,448

16.70% $

$

242,747

242,747

16.70% $

$

250,272

15,976,563

$

7,848,073

$

245,827

$

2,930,608

$

1,888,200

$

26,755,245

(865,382) $

461,381

3.10%

$

(8,720,016)

$

274,276

16.70%

274,276

$

(8,994,292)

#REF!

$

266,029

$

43.40%

258,030

$

519,573

16.70% $

#REF!

46.50%

#REF!

49.60%

-

1,122,800

266,029

#REF!

$

258,030

27,216,626

(5,526,992) $ (6,501,511) $ (7,249,938) $ (7,054,398) $ (7,557,663)

40.30%

250,272

16.70% $

-

$

3.10%

(5,291,544) $ (6,258,765) $ (6,999,666) $ (6,796,368) $ (7,291,634)

#REF!

37.20%

$

3.10%

16.70% $

$

#REF!

$

228,369

228,369

27.90%

221,502

16.70% $

$

3.10%

(5,135,863) $ (5,793,786) $ (5,609,226) $ (5,716,264) #REF!

24.80%

$

3.10%

16.70% $

(4,098,291) $ (4,225,385) #REF!

18.60%

202,116

1,692,284

3.10%

16.70% $

$

-

$ -

-

Ground Lease Collected from Tract 4 & 6 (13) Proceeds from Sell of 37.93 Acres FAA Land

Total Revenue:

-

$

3,978,714

$

7,217

$

3,985,931

$ $ $

2,404,312 851,191 750,175

#REF!

52.70%

55.80%

Airside Pavements Seal Coat / Crack Seal Runway 8-26 Seal Coat / Crack Seal Taxiways A (A1 to A4) Seal Coat / Crack Seal Taxiways A, A5, and A6

FY 2031 FY 2031 FY 2031

FY 2036 FY 2036 FY 2036

FY 2041 FY 2041 FY 2041

$ $

531,000 162,000

$

138,000

$ $ $

169,333 169,333 169,333

$ $ $

662,688 202,176 172,224

$ $ $

744,993 227,286 193,614

$ $ $

827,298 252,396 215,004

Seal Coat / Crack Seal West Terminal Apron

FY 2027

FY 2032

FY 2037

$

160,000

$

179,840

$

204,640

$

229,440

$

613,920

Seal Coat / Crack Seal Central Apron

FY 2027

FY 2032

FY 2037

$

207,000

$

232,668

$

264,753

$

296,838

$

794,259

Seal Coat / Crack Seal East Apron

FY 2027

FY 2032

FY 2037

282,124

$

321,029

$

359,934

$

963,087

FY 2027

FY 2032

FY 2037

251,000 39,000

$

Seal Coat / Crack Seal Terminal Apron Landside Pavements

$ $

$

43,836

$

49,881

$

55,926

$

149,643

Reconstruct Airport Entrance (Loop) Road Electrical / NAVAIDs Replace Automated Weather Observation Stations (AWOS) Equipment

FY 2029

$

1,147,000

$

1,360,342

FY 2027

$

200,000

$

224,800

Acquire Snow Removal Equipment (SRE) - Broom

FY 2030

$

40,000

$

-

FY 2026

$

30,000

Install East AOA Fencing

FY 2028

$

272,000

Relocate and Replace Fuel Facility

FY 2028

$

1,992,000

Maintain Airport Office (3327)

FY 2031

Acquire Mowing Tractor w/ Attachments Facilities

Apply Runway, Taxiway, and Apron Markings Planning

FY 2028

FY 2034

FY 2040

$

42,000

$

219,000 250,000

Update Airport Exhibit A Develop / Close Airport

FY 2030

$

Airport Closure CATEX

FY 2040

$

Real Estate Fee for FAA Land (14)

FY 2041

$

3,034,400

Real Estate Fee for Remaining Land (15)

FY 2041

$

11,077,600

Land Reimbursement to FAA (14)

FY 2042

$

25,033,800

$

44,975,800

Capital Projects Total

(11)

18-Year Net Cash Position (Pre Land Sale)

$

$

1,360,342

224,800 $

$

-

$

314,160

$

2,300,760

$

252,945

$

52,416 $

$

293,679

$

334,413

304,250

150,000

End Cash Position After Capital Projects (Per Year) End Cash Position After Capital Projects (Cumulative)

Notes:

$

$

229,050 $

4,727,595

$

-

$

314,160

$

2,300,760

$

52,416

$

881,037

$

304,250

$

229,050

$

4,727,595

$ $ $

-

$

-

$

$ $

958,032 958,032

$ $

(201,199) $ 756,833 $

508,000

$

(580,846) $ 175,986 $

963,000

$

(1,137,007) $ (961,020) $

2,868,000

$

(2,998,065) $ (3,959,086) $

1,360,000

$

(123,296) $ (4,082,381) $

304,000

$

(123,870) $ (4,206,252) $

1,090,000

$

(907,017) $ (5,113,269) $

840,000

$

(654,212) $ (5,767,481) $

-

$

188,537 $ (5,578,944) $

294,000

$

(102,780) $ (5,681,724) $

-

$

193,828 $ (5,487,895) $

1,166,000

$

(969,648) $ (6,457,544) $

942,000

$

(743,221) $ (7,200,765) $

-

$

201,099 $ (6,999,666) $

-

$

203,298 $ (6,796,368) $

563,000

$

6,022,000

-

$

11,964,000

(1,058,266) $ (6,887,382) $ (7,854,634) $ (14,742,016)

(14,742,016)

(7,854,634)

All footnotes hidden for readability of the spreadsheet

1 of 1

BDU AIRPORT FINANICAL ANALYSIS SCENARIO NO.3.A (07.26)

Date: July 23, 2026

Grant Revenue Assumptions: Yes to FAA entitlements + discretionary requests on combined projects >$1M. Yes CDOT. Development Revenue Assumptions: Conservative. CIP Assumptions: Per Master Plan with limited reductions. Aircraft Operations (Airport Records) / Growth Rate is Based on Current TAF Based Aircraft (Airport Records) / Growth Rate is Based on Current TAF Starting Cash Position (Cumulative) Revenues

Actuals FY 2018

Base Year (In 2024's dollars)

FY 2019

FY 2020

FY 2021

FY 2022

FY 2023

49,352 190 $ 1,989,129

49,352 190 $ 2,143,303

49,352 190 $ 1,975,428

50,027 190 $ 2,130,026

58,932 190 $ 1,983,527

$

472,686

$

554,803

$

598,429

$

650,749

$

CPI inflation (16) $ 719,000

$

43,905 190 1,826,776

475495 Airport Rental (1)

$

628,769

$

475495 Revenue From New Lease Terms

$

-

$

-

$

-

$

-

$

-

$

-

420695 Fuel Flowage Fees (2)

$

5,822

$

6,622

$

5,655

$

6,445

$

5,254

$

6,225

$

6,000

420695 Late Fees

$

-

$

-

$

1,135

$

129

$

-

$

-

$

-

420695 Miscellaneous (3)

$

(89) $

61

$

(1,584) $

279

$

1,841

$

(477)

420695 Taxes

792,508

1,716,603

FY 2024 60,783 191 $ 1,716,603 3.10%

$

FY 2025

FY 2026

FY 2027

FY 2028

FY 2029

FY 2030

FY 2031

FY 2032

FY 2033

FY 2034

FY 2035

FY 2036

FY 2037

FY 2038

FY 2039

FY 2040

FY 2041

69,722 192 958,032 3.10%

70,698 193 756,833 3.10%

71,688 194 175,986 3.10%

72,692 195 385,371 3.10%

73,709 196 570,866 3.10%

74,741 197 911,466 3.10%

75,787 198 593,748 3.10%

76,849 199 685,522 3.10%

77,924 200 769,428 3.10%

79,015 201 351,220 3.10%

80,122 202 458,549 3.10%

81,243 203 (19,421) 3.10%

82,381 204 71,617 3.10%

83,534 205 92,810 3.10%

84,703 206 107,058 3.10%

85,889 207 170,114 3.10%

87,092 208 (350,222) 3.10%

$

$726,161

$734,940

$807,160

$6,224

$7,095

$7,315

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

Totals

$

907,182

$

935,305

$

964,299

$

994,192

$

1,025,012

$

1,056,788

$

1,089,548

$

1,123,324

$

1,158,147

$

1,194,050

$

1,231,065

$

1,269,228

$

1,308,574

$

1,349,140

$

1,390,963

$

19,265,079

$

62,149

$

124,298

$

128,151

$

132,124

$

136,220

$

140,443

$

144,796

$

149,285

$

153,913

$

158,684

$

163,603

$

168,675

$

173,904

$

179,295

$

184,853

$

2,200,393

$

7,542

$

7,776

$

8,017

$

8,265

$

8,521

$

8,785

$

9,058

$

9,339

$

9,628

$

9,927

$

10,234

$

10,552

$

10,879

$

11,216

$

11,564

$

161,935

$

-

$

-

$

7,720

$

2,813

$

158

$

783

$

-

$

-

$

-

(3)

$

3,943

$

10,100

$

7,997

$

12,311

$

15,059

$

16,700

$

17,000

$16,000

$16,496

$17,007

$

17,534

$

18,078

$

18,638

$

19,216

$

19,812

$

20,426

$

21,059

$

21,712

$

22,385

$

23,079

$

23,794

$

24,532

$

25,292

$

26,076

$

420695 Leases Rents Royalties (3)

$

-

$

16,244

$

23,002

$

14,851

$

13,965

$

11,719

$

12,000

$11,000

$11,341

$11,693

$

12,055

$

12,429

$

12,815

$

13,212

$

13,621

$

14,044

$

14,479

$

14,928

$

15,391

$

15,868

$

16,360

$

16,867

$

17,390

$

17,929

$

Construct Hangar A - New Ground Lease Revenue (14)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

6,468

$

6,669

$

6,876

$

7,089

$

7,308

$

7,535

$

7,769

$

8,009

$

8,258

$

8,514

$

8,778

$

9,050

$

Construct Hangar B - New Ground Lease Revenue (15)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

6,468

$

6,669

$

6,876

$

7,089

$

7,308

$

7,535

$

7,769

$

8,009

$

8,258

$

8,514

$

8,778

$

9,050

$

Construct Hangar C & Parking- New Ground Lease Revenue (16)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

32,735

$

33,750

$

34,796

$

35,875

$

36,987

$

38,134

$

39,316

$

40,535

$

41,791

$

43,087

$

44,422

$

Construct Hangar D and Parking - New Ground Lease Revenue (17)

$

-

$

-

$

-

$

-

$

-

$

10,193

$

10,509

$

10,835

$

11,171

$

11,517

$

11,874

$

12,242

$

12,621

$

13,013

$

13,416

$

13,832

$

14,261

$

145,483

$ 5,074,724

$

30,000

$

34,780

$

-

$

-

$

150,000

$

1,187,088

$

150,000

$

150,000

$

1,031,037

$

5,959,048

$

1,315,893

$

150,000

$

150,000

$

1,132,872

$

150,000

$

1,444,698

$

26,085,156

-

$

-

$

-

$

-

420695 Utilities

$

-

$

-

(4)

$

-

$

326,575

N/A BIL Federal Grant (4)

$

-

$

-

$

-

$

465105 AIP Federal Grant

465150 State Grant Discretionary & State Match (5%) (4)

$

-

$

1,200

$

14,400

$

-

$

-

$

28,600

$

-

470305 Interest on Investments (12)

$

23,504

$

39,490

$

43,692

$

32,536

$

27,320

$

44,617

$

45,000

460095 Intergovernmental Tax Revenue(3)

$

-

$

5,314

$

23,723

$

6,674

$

7,756

$

9,417

$

9,000

$

669,669

$

881,106

$ 5,751,044

$

841,853

$

756,723

$

909,309

$

808,000

Total Revenue:

$

2,038,468

$

2,953,760

$

8,122,292

$

-

26,885

$

378,021

18,484

$

259,904

9,330

$

101,652

9,330

$

101,652

45,800

$

$ $59,993

$41,210

$6,900 $

826,278

$6,181 $

817,263

$

$450,000

$

101,923

$

147,688

$

406,115

$

1,543,587

$

59,354

$31,450

$

8,271

$

18,112

$

26,831

$

42,839

$

27,906

$

$6,372

$

6,570

$

6,773

$

6,983

$

7,200

$

7,423

1,330,997

$

3,161,695

$

4,224,219

$

9,707,077

$

2,966,900

$

2,542,968

$

65,795

21,552

$

-

$

$

7,890

$

8,135

$

8,387

$

8,647

$

1,534,656

$

2,489,392

$

7,711,947

$

2,859,518

$

7,653

$

1,490,166

9,191

$

9,476

$

1,725,238

$

2,814,121

8,915

$

1,677,009

383,810

$

9,770

$

10,073

$

142,539

$

1,827,775

$

3,238,476

$

52,945,696

3.10%

3.10%

$

416,711

$

299,540

$

361,251

CPI inflation (16) $ 445,000

3.10%

369,253

$843,227

$653,786

$759,541

$

732,287

$

754,988

$

778,392

$

802,522

$

827,401

$

853,050

$

879,495

$

906,759

$

934,868

$

963,849

$

993,729

$

1,024,534

$

1,056,295

$

1,089,040

$

1,122,800

$

15,976,563

$

225,310

$

559,941

$

781,491

$

697,000

$707,126

$265,991

$526,055

$

338,864

$

349,369

$

360,199

$

371,365

$

382,878

$

394,747

$

406,984

$

419,600

$

432,608

$

446,019

$

459,846

$

474,101

$

488,798

$

503,951

$

519,573

$

7,848,073

Cost Allocation (18)

$

44,386

$

44,565

$

45,234

$

45,234

$

43,741

$

33,491

$

33,000

$34,496

$98,685

$118,247

$

124,159

$

130,367

$

136,886

$

143,730

$

150,916

$

158,462

$

166,385

$

174,705

$

183,440

$

192,612

$

202,242

$

212,355

$

222,972

$

234,121

$

245,827

$

2,930,608

Total O&M Expenditures:

$

507,317

$

726,932

$ 5,918,919

$

687,255

$

903,222

$ 1,176,233

$

1,175,000

1,403,843

$

1,195,310

$

1,234,724

$

1,275,477

$

1,317,618

$

1,361,195

$

1,406,259

$

1,452,864

$

1,501,064

$

1,550,916

$

1,602,480

$

1,655,817

$

1,710,990

$

1,768,065

$

1,827,112

$

1,888,200

$

26,755,245

$

154,174

$ (167,875) $

154,598

$

26,190,451

$

3,978,714

162,352

Designated (7)

$

Pay Period 27 (2024) (8)

$

3.10%

3.10%

$ (146,499) $ (266,924)

$

(758,571) $

(201,199) $

(72,846) $

1,966,385

$

2,989,495

$

8,431,600

$

1,649,283

$

1,181,773

$

83,907

$

81,792

$

988,328

$

6,161,031

$

1,257,038

$

21,193

$

14,249

$

1,046,056

$

664

$

1,350,276

$ 1,975,428

$ 2,130,026

$ 1,983,527

$ 1,716,603

$

958,032

$

756,833

$

683,986

$

2,142,371

$

3,374,866

$

9,002,466

$

2,560,748

$

1,775,522

$

769,428

$

851,220

$

1,339,549

$

6,619,579

$

1,237,617

$

92,810

$

107,058

$

1,153,114

$

170,778

$

1,000,054

113,635

$

113,904

$

100,205

$

98,771

$

149,663

$

149,663

$

150,000

$

258,909

$

153,603

$

214,695

$

178,882

$

184,428

$

190,145

$

196,039

$

202,116

$

208,382

$

214,842

$

221,502

$

228,369

$

235,448

$

242,747

$

250,272

$

258,030

$

266,029

$

274,276

8,808

$

8,989

$

6,458

$

6,458

$

6,855

$

6,855

$

7,000

$

7,217

$

138,275

$

139,200

$

123,459

$

122,529

$

156,518

$

156,518

$

157,000

$

266,126

$

$

1,850,853

691,906

$

Reserve %

End Cash Position After Reserves (Cumulative)

3.10%

$ 2,143,303

Reserves

Total Reserves:

3.10%

3,252,845

$

$ 5,504,432

1,989,128

3.10%

$

-

$

$

3.10%

72,235

$

403,664

$

3.10%

$

$

-

$ 7,995

278,703

End Cash Position Before Reserves (Cumulative)

3.10%

$

$

Total Revenue - Less O&M Expenditures

3.10%

5,032

$

$

3.10%

56,644

$

$

31,131

1,018,462

3.10%

$ 4,362

3,366

431,800

$

3.10%

297,952

$

$

1,584,849

3.10%

$

16,507

$

$

3.10%

51,552

$

$

Operations, Maintenance & Capital Expenses (6)

O& M Expenditures (5) Airport Management

3.10%

$ 36,163

32,220

467,228

$ 2,004,103

$ 1,851,969

$ 2,007,497

$ 1,827,009

16.70%

$ 1,560,085

$

Capital Project Expenditures

16.70%

#REF! Project Year(s)

Capital Projects (9) (10)

Compound CPI Project Escalation Rate

16.70%

153,603

$

603,230

$

#REF!

3.10%

16.70%

214,695

$

469,292

$

#REF!

6.20%

16.70%

178,882

$

1,963,489

$

#REF!

9.30%

16.70%

184,428

$

3,190,439

$

#REF!

12.40%

16.70%

190,145

$

8,812,321

$

#REF!

15.50%

16.70%

196,039

$

2,364,709

$

#REF!

18.60%

16.70%

202,116

$

1,573,405

$

#REF!

21.70%

16.70%

208,382

$

561,046

$

#REF!

24.80%

16.70%

214,842

$

636,378

$

#REF!

27.90%

16.70%

221,502

$

1,118,046

$

#REF!

31.00%

16.70%

228,369

$

6,391,211

$

#REF!

34.10%

16.70%

235,448

$

1,002,169

$

#REF!

37.20%

16.70%

242,747

$

(149,937)

$

#REF!

40.30%

16.70%

250,272

$

(143,214)

$

#REF!

43.40%

16.70%

258,030

$

895,084

$

#REF!

46.50%

16.70%

266,029

$

(95,251)

$

#REF!

49.60%

274,276

$

7,217

$

3,985,931

$

4,725,168

$

2,404,312

725,777 #REF!

52.70%

55.80%

Airside Pavements Rehabilitate Runway 8-26

FY 2035

Seal Coat / Crack Seal Runway 8-26

FY 2031

Seal Coat / Crack Seal Runway 8G-26G

$

3,444,000

FY 2036

FY 2041

$

531,000

FY 2030

FY 2035

$

114,000

$ $

934,000 162,000

Rehabilitate Taxiways A (A1 to A4), A1, A2, A3, and A4 Seal Coat / Crack Seal Taxiways A (A1 to A4), A1, A2, A3, and A4 Rehabilitate Taxiways A (A4 to A6), A5, and A6 Seal Coat / Crack Seal Taxiways A (A4 to A6), A5, and A6

FY 2029 FY 2031 FY 2035

FY 2036

FY 2041

FY 2031

FY 2036

FY 2041

Rehabilitate West Apron

FY 2029

Seal Coat / Crack Seal West Terminal Apron

FY 2027

Rehabilitate Central Apron

FY 2029

Seal Coat / Crack Seal Central Apron

FY 2027

Rehabilitate East Apron

FY 2029

Seal Coat / Crack Seal East Apron

FY 2027

Reconstruct Southeast Apron

FY 2029

Seal Coat / Crack Seal Terminal Apron

FY 2027

$

$

169,333

$ $ $

$

169,333

138,000

$

1,561,000

$

169,333

$

160,000

$

1,931,000

$

207,000

FY 2034

FY 2039

FY 2034

FY 2039

$

1,736,000

FY 2034

FY 2039

$ $

FY 2034

FY 2039

156,408

$

295,146

1,083,880

1,107,724 851,191 1,083,880

$

179,840

$

232,668

251,000 560,000

$

282,124

$

39,000

$

43,836

$ $ $

FY 2028

$

335,000

$

Reconstruct Airport Entrance (Loop) Road

FY 2030

$

1,147,000

Seal Coat / Crack Seal Airport Entrance (Loop) Road Electrical / NAVAIDs

FY 2035

$

341,000

Replace Automated Weather Observation Stations (AWOS) Replace Airport Beacon Equipment

FY 2028 FY 2029

$ $

200,000 100,000

Acquire Snow Removal Equipment (SRE) - Broom

FY 2030

$

40,000

Acquire Mowing Tractor w/ Attachments

FY 2027

$

30,000

$

202,176

$

172,224

Install East AOA Fencing

FY 2028

$

272,000

$

272,000

Relocate and Replace Fuel Facility

FY 2028

$

1,992,000

$

2,300,760

$

227,286

$

193,614

$

214,560

$

239,360

827,298

$

252,396

$ $ $

$

215,004

$

750,175

$

1,851,346

$

277,587

$

309,672

$

336,591

$

375,496

$

52,299

$

58,344

2,290,166 2,058,896 664,160

-

$

633,760

$

2,290,166

$

819,927

$

2,058,896

$

994,211

$

664,160

$

154,479

$ 1,395,899 $

467,852

$

520,707

231,000 $

118,600 $

$

$

1,851,346

$

$

744,993

1,107,724 $

$

Install Vehicle Service Road (VSR) Millings Landside Pavements

FY 2040

4,725,168

$

$

790,000

$

$ 662,688

138,738

-

-

-

$

1,395,899

$

988,559

$ $

231,000 118,600

$

-

$

-

$

272,000

$

2,300,760

Facilities

Apply Runway, Taxiway, and Apron Markings Install Electrical Vehicle Charging Stations Maintain Airport Office (3327) Environmental

$

219,000

FY 2037

FY 2029

$

480,000

FY 2031

$

42,000

FY 2030

FY 2034

FY 2035

FY 2039

FY 2041

$

-

$

-

$ $

$

Develop Airport CATEX

FY 2027

$

150,000

$

168,600

Update Master Plan and Airport Layout Plan

FY 2027

$

700,000

$

700,000

Noise Study per Master Plan Update

FY 2027

$

150,000

$

150,000

Aviation Easements (West End RPZs)

FY 2033

$

500,000

Update Airport Exhibit A

FY 2030

$ $

250,000 19,506,000

$

-

$

-

52,416

182,550

$

205,800

$

233,700

-

$

-

$

52,416

$

790,650

$

700,000

Planning

Capital Projects Total

(11)

End Cash Position After Capital Projects (Per Year) End Cash Position After Capital Projects (Cumulative)

18-Year Net Cash Position Notes:

$

$

-

$

-

$

$ $

958,032 958,032

$ $

(201,199) $ 756,833 $

$ $

500,000

$

1,757,000

$

2,804,000

$

8,091,000

$ $

250,000 1,967,000

$

1,090,000

$

-

$

500,000

$

881,000

$

6,639,000

$

1,166,000

$

-

$

-

$

983,000

$

521,000

(580,846) $ 175,986 $

209,385 385,371

$ $

185,495 570,866

$ $

340,600 911,466

$ $

(317,717) $ 593,748 $

91,773 685,522

$ $

83,907 769,428

$ $

(418,208) $ 351,220 $

107,328 458,549

$ $

(477,969) $ (19,421) $

91,038 71,617

$ $

21,193 92,810

$ $

14,249 107,058

$ $

63,056 170,114

$ $

(520,336) $ (350,222) $

508,000

$

150,000

$

500,000

$ $

250,000 28,434,000

(177,724) $ (527,946)

(527,946)

1,528,000

(527,946)

All footnotes hidden for readability of the spreadsheet

1 of 1

BDU AIRPORT FINANICAL ANALYSIS SCENARIO NO.3.B.1 (07.26)

Date: July 23, 2026

Grant Revenue Assumptions: No FAA. No CDOT. Development Revenue Assumptions: Conservative. CIP Assumptions: Per Master Plan with limited reductions.

Actuals

Aircraft Operations (Airport Records) / Growth Rate is Based on Current TAF Based Aircraft (Airport Records) / Growth Rate is Based on Current TAF Starting Cash Position (Cumulative) Revenues 475495 Airport Rental (1) 475495 Revenue From New Lease Terms 420695 Fuel Flowage Fees

(2)

Base Year (In 2024's dollars)

FY 2018

FY 2019

FY 2020

FY 2021

FY 2022

FY 2023

49,352 190 $1,989,129

49,352 190 $2,143,303

49,352 190 $1,975,428

50,027 190 $2,130,026

58,932 190 $1,983,527

$

CPI inflation (16) $ 719,000

$

43,905 190 1,826,776

$

628,769

$

472,686

$

554,803

$

598,429

$

650,749

$

792,508

$

-

$

-

$

-

$

-

$

-

$

-

1,716,603

FY 2024

FY 2025

FY 2026

FY 2027

60,783 191 $ 1,716,603 $ 3.10%

69,722 192 958,032 $ 3.10%

70,698 193 756,833 $ 3.10%

71,688 72,692 194 195 175,986 $ (1,755,020) 3.10% 3.10%

$726,161

$734,940

$807,160

$

5,822

$

6,622

$

5,655

$

6,445

$

5,254

$

6,225

$

6,000

420695 Late Fees

$

-

$

-

$

1,135

$

129

$

-

$

-

$

-

420695 Miscellaneous (3)

$

(89) $

61

$

(1,584) $

279

$

1,841

$

(477)

420695 Taxes

$

7,720

$

2,813

$

158

$

783

$

-

$

-

$

-

420695 Utilities (3)

$

3,943

$

10,100

$

7,997

$

12,311

$

15,059

$

16,700

$

17,000

$16,000

$16,496

420695 Leases Rents Royalties (3)

$

-

$

16,244

$

23,002

$

14,851

$

13,965

$

11,719

$

12,000

$11,000

$11,341

Construct Hangar A - New Ground Lease Revenue (14)

$

-

$

-

$

-

$

-

$

-

$

-

$

Construct Hangar B - New Ground Lease Revenue (15)

$

-

$

-

$

-

$

-

$

-

$

-

$

Construct Hangar C & Parking- New Ground Lease Revenue (16)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

326,575

$

-

$

Construct Hangar D and Parking - New Ground Lease Revenue 465105 AIP Federal Grant (4) N/A BIL Federal Grant (4) 465150 State Grant Discretionary & State Match (5%)

(4)

(17)

$6,224

$7,095

$7,315

FY 2029

$

73,709 196 (4,689,086) 3.10%

FY 2030

FY 2031

74,741 197 $ (11,543,381) 3.10%

75,787 198 $ (13,597,525) 3.10%

FY 2032

$

76,849 199 (14,780,100) 3.10%

FY 2033

FY 2034

FY 2035

FY 2036

FY 2037

FY 2038

FY 2039

FY 2040

FY 2041

77,924 200 $ (14,878,413) 3.10%

79,015 201 $ (15,482,784) 3.10%

80,122 202 $ (16,474,552) 3.10%

81,243 203 $ (23,231,073) 3.10%

82,381 204 $ (24,521,723) 3.10%

83,534 205 $ (24,653,896) 3.10%

84,703 206 $ (24,794,010) 3.10%

85,889 207 $ (25,925,502) 3.10%

87,092 208 $ (26,603,833) 3.10%

Totals

$

907,182

$

935,305

$

964,299

$

994,192

$

1,025,012

$

1,056,788

$

1,089,548

$

1,123,324

$

1,158,147

$

1,194,050

$

1,231,065

$

1,269,228

$

1,308,574

$

1,349,140

$

1,390,963

$

19,265,079

$

62,149

$

124,298

$

128,151

$

132,124

$

136,220

$

140,443

$

144,796

$

149,285

$

153,913

$

158,684

$

163,603

$

168,675

$

173,904

$

179,295

$

184,853

$

2,200,393

$

7,542

$

7,776

$

8,017

$

8,265

$

8,521

$

8,785

$

9,058

$

9,339

$

9,628

$

9,927

$

10,234

$

10,552

$

10,879

$

11,216

$

11,564

$

161,935

$

-

$

-

$

-

$17,007

$

17,534

$

18,078

$

18,638

$

19,216

$

19,812

$

20,426

$

21,059

$

21,712

$

22,385

$

23,079

$

23,794

$

24,532

$

25,292

$

26,076

$

26,885

$

378,021

$11,693

$

12,055

$

12,429

$

12,815

$

13,212

$

13,621

$

14,044

$

14,479

$

14,928

$

15,391

$

15,868

$

16,360

$

16,867

$

17,390

$

17,929

$

18,484

$

259,904

-

$

6,468

$

6,669

$

6,876

$

7,089

$

7,308

$

7,535

$

7,769

$

8,009

$

8,258

$

8,514

$

8,778

$

9,050

$

9,330

$

101,652

-

$

6,468

$

6,669

$

6,876

$

7,089

$

7,308

$

7,535

$

7,769

$

8,009

$

8,258

$

8,514

$

8,778

$

9,050

$

9,330

$

101,652

$

32,735

$

33,750

$

34,796

$

35,875

$

36,987

$

38,134

$

39,316

$

40,535

$

41,791

$

43,087

$

44,422

$

45,800

$

467,228

$

10,193

$

10,509

$

10,835

$

11,171

$

11,517

$

11,874

$

12,242

$

12,621

$

13,013

$

13,416

$

13,832

$

14,261

$

-

$

-

$

-

$

-

$

145,483

$ 5,074,724

$

30,000

$

34,780

$

-

$

-

$

-

-

$

-

$

-

$

-

$

-

$

-

$

$

-

$

1,200

$

14,400

$

-

$

-

$

28,600

$

-

470305 Interest on Investments (12)

$

23,504

$

39,490

$

43,692

$

32,536

$

27,320

$

44,617

$

45,000

$59,993

$41,210

460095 Intergovernmental Tax Revenue(3)

$

-

$

5,314

$

23,723

$

6,674

$

7,756

$

9,417

$

9,000

$6,900

$6,181

Total Revenue:

$

669,669

$

881,106

$ 5,751,044

$

841,853

$

756,723

$

909,309

$

808,000

3.10%

3.10%

3.10%

O& M Expenditures (5) Airport Management

FY 2028

$

$

826,278

$

817,263

$

1,360,342

-

$

1,810,342

$31,450

$

8,271

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

140,924

$6,372

$

6,570

$

6,773

$

6,983

$

7,200

$

7,423

$

7,653

$

7,890

$

8,135

$

8,387

$

8,647

$

8,915

$

9,191

$

9,476

$

9,770

$

10,073

$

142,539

1,330,997

$

1,021,303

$

1,104,658

$

2,512,181

$

1,230,475

$

1,268,619

$

1,307,946

$

1,348,493

$

1,390,296

$

1,433,395

$

1,477,831

$

1,523,643

$

1,570,876

$

1,619,573

$

1,669,780

$

1,721,543

$

25,175,152

$450,000

$

431,800

$

278,703

$

369,253

$

416,711

$

299,540

$

361,251

CPI inflation (16) $ 445,000

$843,227

$653,786

$759,541

$

732,287

$

754,988

$

778,392

$

802,522

$

827,401

$

853,050

$

879,495

$

906,759

$

934,868

$

963,849

$

993,729

$

1,024,534

$

1,056,295

$

1,089,040

$

1,122,800

$

15,976,563

Operations, Maintenance & Capital Expenses (6)

$

31,131

$

403,664

$ 5,504,432

$

225,310

$

559,941

$

781,491

$

697,000

$707,126

$265,991

$526,055

$

338,864

$

349,369

$

360,199

$

371,365

$

382,878

$

394,747

$

406,984

$

419,600

$

432,608

$

446,019

$

459,846

$

474,101

$

488,798

$

503,951

$

519,573

$

7,848,073

Cost Allocation (18)

$

44,386

$

44,565

$

45,234

$

45,234

$

43,741

$

33,491

$

33,000

$34,496

$98,685

$118,247

$

124,159

$

130,367

$

136,886

$

143,730

$

150,916

$

158,462

$

166,385

$

174,705

$

183,440

$

192,612

$

202,242

$

212,355

$

222,972

$

234,121

$

245,827

$

2,930,608

Total O&M Expenditures:

$

507,317

$

726,932

$ 5,918,919

$

687,255

$

903,222

$ 1,176,233

$

1,175,000

1,403,843

$

1,195,310

$

1,234,724

$

1,275,477

$

1,317,618

$

1,361,195

$

1,406,259

$

1,452,864

$

1,501,064

$

1,550,916

$

1,602,480

$

1,655,817

$

1,710,990

$

1,768,065

$

1,827,112

$

1,888,200

$

26,755,245

$

154,174

$ (167,875) $

154,598

(166,657) $

(1,580,093)

Total Revenue - Less O&M Expenditures

$

162,352

End Cash Position Before Reserves (Cumulative)

$

1,989,128

Designated (7)

$

Pay Period 27 (2024) (8)

$

$

1,584,849

$

$ (146,499) $ (266,924)

$

(758,571) $

(201,199) $

(72,846) $

$2,130,026

$1,983,527

$1,716,603

$

958,032

$

756,833

$

683,986

113,635

$

113,904

$

100,205

$

98,771

$

149,663

$

149,663

$

150,000

$

258,909

$

153,603

$

214,695

8,808

$

8,989

$

6,458

$

6,458

$

6,855

$

6,855

$

7,000

$

7,217

$

138,275

$

139,200

$

123,459

$

122,529

$

156,518

$

156,518

$

157,000

$

266,126

$

153,603

$

214,695

$

178,882

184,428

$

190,145

$

1,850,853

$

691,906

$

603,230

$

469,292

$

(176,902) $ (2,069,513)

$

(3,642,526)

$2,004,103

$1,851,969

$2,007,497

$1,827,009

16.70%

$1,560,085

Capital Project Expenditures

16.70%

#REF! Project Year(s)

Capital Projects (9) (10)

Compound CPI Project Escalation Rate

$

1,980

$

178,882

16.70%

#REF!

3.10%

$

184,428

1,236,704

$

(3,452,381)

$ (11,630,525)

$

190,145

16.70%

#REF!

12.40%

3.10%

$

16.70% $

#REF!

9.30%

(130,065) $

$ (1,885,086)

16.70%

#REF!

6.20%

(174,007) $

3.10%

$1,975,428

Reserve %

Total Reserves:

1,018,462

3.10%

$2,143,303

Reserves

End Cash Position After Reserves (Cumulative)

$

3.10%

(87,143) $

$

196,039

(14,878,413)

$

208,382

16.70% $

$

202,116

202,116

$

208,382

$

(15,086,795)

#REF!

#REF!

$

214,842

214,842

3.10%

(110,768) $

$ (15,593,552)

16.70% $

$

221,502

221,502

(117,521) $

$ (16,592,073)

16.70% $

3.10%

$

228,369

228,369

(124,650) $

$ (23,355,723)

16.70% $

3.10%

$

235,448

235,448

(132,174) $

$ (24,653,896)

16.70% $

3.10%

$

242,747

242,747

(140,113) $

$ (24,794,010)

16.70% $

3.10%

$

250,272

250,272

(148,492) $

$ (24,942,502)

16.70% $

3.10%

$

258,030

258,030

(157,331) $

$ (26,082,833)

16.70% $

3.10%

$ (26,770,490)

16.70% $

$

266,029

266,029

16.70% $

$

274,276

274,276

$ (15,197,626)

$ (15,815,054)

$ (16,820,442)

$ (23,591,171)

$ (24,896,643)

$ (25,044,282)

$ (25,200,532)

$ (26,348,863)

$ (27,044,767)

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

24.80%

3.10%

(104,371) $

$ (14,982,784)

16.70%

$ (13,892,216)

21.70%

3.10%

(98,313) $

$

$ (11,826,564)

18.60%

196,039

3.10%

(92,575) $

$ (13,690,100)

16.70% $

#REF!

15.50%

3.10%

27.90%

31.00%

34.10%

37.20%

40.30%

43.40%

46.50%

49.60%

52.70%

$

3,978,714

$

7,217

$

3,985,931

$

4,725,168

$

2,404,312

55.80%

Airside Pavements Rehabilitate Runway 8-26

FY 2035

Seal Coat / Crack Seal Runway 8-26

FY 2031

Seal Coat / Crack Seal Runway 8G-26G

$

3,444,000

$

531,000

FY 2036

FY 2041

FY 2030

FY 2035

$

114,000

$ $

934,000 162,000

$

790,000

$

138,000

$

1,561,000

Rehabilitate Taxiways A (A1 to A4), A1, A2, A3, and A4 Seal Coat / Crack Seal Taxiways A (A1 to A4), A1, A2, A3, and A4 Rehabilitate Taxiways A (A4 to A6), A5, and A6

FY 2029 FY 2031 FY 2035

FY 2036

FY 2041

Seal Coat / Crack Seal Taxiways A (A4 to A6), A5, and A6

FY 2031

FY 2036

FY 2041

Rehabilitate West Apron

FY 2029

Seal Coat / Crack Seal West Terminal Apron

FY 2027

FY 2034

FY 2039

Rehabilitate Central Apron

FY 2029

Seal Coat / Crack Seal Central Apron

FY 2027

Rehabilitate East Apron

FY 2029

Seal Coat / Crack Seal East Apron

FY 2027

Reconstruct Southeast Apron

FY 2029

Seal Coat / Crack Seal Terminal Apron

FY 2027

FY 2034

FY 2039

FY 2034

FY 2039

FY 2034

FY 2039

$

160,000

$

1,931,000

169,333

$ $ $

169,333

$

202,176

169,333

$

172,224

$ $

207,000

$

232,668

251,000 560,000

$

282,124

$

39,000

$

43,836

Reconstruct Airport Entrance (Loop) Road

FY 2030

$

1,147,000

$

341,000

$ $

200,000 100,000

Acquire Snow Removal Equipment (SRE) - Broom

FY 2030

$

40,000

FY 2027

$

30,000

Install East AOA Fencing

FY 2028

$

272,000

$

272,000

Relocate and Replace Fuel Facility

FY 2028

$

1,992,000

$

2,300,760

219,000 480,000

Maintain Airport Office (3327) Environmental

FY 2031

$

42,000

Develop Airport CATEX Planning

FY 2027

$

150,000

$

168,600

FY 2027

$

700,000

$

700,000

FY 2027

$

150,000

$

150,000

FY 2033

$

500,000

Update Airport Exhibit A

FY 2030

$

250,000

$

19,506,000

18-Year Net Cash Position Notes:

$

252,396

$

215,004

$

750,175

$

1,851,346

$

$

277,587

$

309,672

$

336,591

$

375,496

$

52,299

$

58,344

1,395,899 467,852

$

-

$

-

$

$ $

958,032 958,032

$ $

(201,199) $ 756,833 $

508,000

$

(580,846) $ 175,986 $

520,707

231,000 118,600 -

-

$

-

$

$

182,550

1,757,000

$

(1,931,007) $ (1,755,020) $

2,804,000

$

8,091,000

$

250,000

$

1,967,000

$

$

-

$

633,760

$

2,290,166

$

819,927

$

2,058,896

$

994,211

$

664,160

$

154,479

1,090,000

$

(2,934,065) $ (6,854,296) $ (2,054,143) $ (1,182,575) $ (4,689,086) $ (11,543,381) $ (13,597,525) $ (14,780,100) $

205,800

$

233,700

500,000

-

$

1,395,899

$

988,559

$ $

231,000 118,600

$

-

$

-

$

272,000

$

2,300,760

$

-

52,416

$ $

239,360

664,160

$

Aviation Easements (West End RPZs)

End Cash Position After Capital Projects (Per Year) End Cash Position After Capital Projects (Cumulative)

$

193,614

$

Noise Study per Master Plan Update

Capital Projects Total

227,286

$

$

$

Update Master Plan and Airport Layout Plan

(11)

2,058,896

$

$

FY 2041

$

-

$

FY 2035

FY 2039

$

$

$

827,298

$ $ $

214,560

$ $

FY 2037

FY 2030

FY 2034

2,290,166

$

$

FY 2029

1,083,880

$

-

FY 2028 FY 2029

Install Electrical Vehicle Charging Stations

$

$

FY 2035

Apply Runway, Taxiway, and Apron Markings

295,146 1,107,724 851,191 1,083,880

744,993

1,851,346 $

Seal Coat / Crack Seal Airport Entrance (Loop) Road Electrical / NAVAIDs Replace Automated Weather Observation Stations (AWOS) Replace Airport Beacon Equipment Acquire Mowing Tractor w/ Attachments Facilities

$

$

179,840

1,736,000

335,000

156,408

$

$ $ $

4,725,168

$

1,107,724

$

$

FY 2028

$ 662,688

138,738

$

$

Install Vehicle Service Road (VSR) Millings Landside Pavements

FY 2040

$

-

$

-

$

52,416

$

790,650

$

700,000

$

150,000

$

500,000

$

250,000

$

28,434,000

(98,313) $ (604,371) $ (991,768) $ (6,756,521) $ (1,290,650) $ (132,174) $ (140,113) $ (1,131,492) $ (678,331) $ (1,694,657) $ (14,878,413) $ (15,482,784) $ (16,474,552) $ (23,231,073) $ (24,521,723) $ (24,653,896) $ (24,794,010) $ (25,925,502) $ (26,603,833) $ (28,298,490)

(28,298,490)

-

$

500,000

$

881,000

$

6,639,000

$

1,166,000

$

-

$

-

$

983,000

$

521,000

$

1,528,000

(26,603,833)

All footnotes hidden for readability of the spreadsheet

1 of 1

BDU AIRPORT FINANICAL ANALYSIS SCENARIO NO.3.B.2 (07.26)

Date: July 23, 2026

Grant Revenue Assumptions: No FAA. Full CDOT. Development Revenue Assumptions: Conservative. CIP Assumptions: Per Master Plan with limited reductions.

Actuals

Aircraft Operations (Airport Records) / Growth Rate is Based on Current TAF Based Aircraft (Airport Records) / Growth Rate is Based on Current TAF Starting Cash Position (Cumulative) Revenues 475495 Airport Rental (1) 475495 Revenue From New Lease Terms 420695 Fuel Flowage Fees

(2)

Base Year (In 2024's dollars)

FY 2018

FY 2019

FY 2020

FY 2021

FY 2022

FY 2023

49,352 190 $1,989,129

49,352 190 $2,143,303

49,352 190 $1,975,428

50,027 190 $2,130,026

58,932 190 $1,983,527

$

CPI inflation (16) $ 719,000

$

43,905 190 1,826,776

$

628,769

$

472,686

$

554,803

$

598,429

$

650,749

$

792,508

$

-

$

-

$

-

$

-

$

-

$

-

1,716,603

FY 2024

FY 2025

FY 2026

FY 2027

60,783 191 $ 1,716,603 $ 3.10%

69,722 192 958,032 $ 3.10%

70,698 193 756,833 $ 3.10%

71,688 72,692 194 195 175,986 $ (938,659) 3.10% 3.10%

$726,161

$734,940

$807,160

$

5,822

$

6,622

$

5,655

$

6,445

$

5,254

$

6,225

$

6,000

420695 Late Fees

$

-

$

-

$

1,135

$

129

$

-

$

-

$

-

420695 Miscellaneous (3)

$

(89) $

61

$

(1,584) $

279

$

1,841

$

(477)

420695 Taxes

$

7,720

$

2,813

$

158

$

783

$

-

$

-

$

-

420695 Utilities (3)

$

3,943

$

10,100

$

7,997

$

12,311

$

15,059

$

16,700

$

17,000

$16,000

$16,496

420695 Leases Rents Royalties (3)

$

-

$

16,244

$

23,002

$

14,851

$

13,965

$

11,719

$

12,000

$11,000

$11,341

Construct Hangar A - New Ground Lease Revenue (14)

$

-

$

-

$

-

$

-

$

-

$

-

$

Construct Hangar B - New Ground Lease Revenue (15)

$

-

$

-

$

-

$

-

$

-

$

-

$

Construct Hangar C & Parking- New Ground Lease Revenue (16)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

326,575

$

-

$

Construct Hangar D and Parking - New Ground Lease Revenue 465105 AIP Federal Grant (4) N/A BIL Federal Grant (4) 465150 State Grant Discretionary & State Match (5%)

(4)

(17)

$6,224

$7,095

$7,315

$

FY 2029

FY 2030

73,709 196 (1,349,340) 3.10%

74,741 75,787 197 198 (3,279,127) $ (3,787,802) 3.10% 3.10%

$

FY 2031

FY 2032

$

FY 2033

FY 2034

FY 2035

76,849 77,924 79,015 80,122 199 200 201 202 (3,989,824) $ (4,088,136) $ (4,692,508) $ (4,891,342) 3.10% 3.10% 3.10% 3.10%

FY 2036

$

FY 2037

FY 2038

FY 2039

FY 2040

81,243 82,381 83,534 84,703 85,889 203 204 205 206 207 (5,672,666) $ (5,914,012) $ (6,046,186) $ (6,186,299) $ (6,433,206) 3.10% 3.10% 3.10% 3.10% 3.10%

FY 2041

$

Totals

87,092 208 (7,111,538) 3.10%

$

907,182

$

935,305

$

964,299

$

994,192

$

1,025,012

$

1,056,788

$

1,089,548

$

1,123,324

$

1,158,147

$

1,194,050

$

1,231,065

$

1,269,228

$

1,308,574

$

1,349,140

$

1,390,963

$

19,265,079

$

62,149

$

124,298

$

128,151

$

132,124

$

136,220

$

140,443

$

144,796

$

149,285

$

153,913

$

158,684

$

163,603

$

168,675

$

173,904

$

179,295

$

184,853

$

2,200,393

$

7,542

$

7,776

$

8,017

$

8,265

$

8,521

$

8,785

$

9,058

$

9,339

$

9,628

$

9,927

$

10,234

$

10,552

$

10,879

$

11,216

$

11,564

$

161,935

$

-

$

-

$

-

$17,007

$

17,534

$

18,078

$

18,638

$

19,216

$

19,812

$

20,426

$

21,059

$

21,712

$

22,385

$

23,079

$

23,794

$

24,532

$

25,292

$

26,076

$

26,885

$

378,021

$11,693

$

12,055

$

12,429

$

12,815

$

13,212

$

13,621

$

14,044

$

14,479

$

14,928

$

15,391

$

15,868

$

16,360

$

16,867

$

17,390

$

17,929

$

18,484

$

259,904

-

$

6,468

$

6,669

$

6,876

$

7,089

$

7,308

$

7,535

$

7,769

$

8,009

$

8,258

$

8,514

$

8,778

$

9,050

$

9,330

$

101,652

-

$

6,468

$

6,669

$

6,876

$

7,089

$

7,308

$

7,535

$

7,769

$

8,009

$

8,258

$

8,514

$

8,778

$

9,050

$

9,330

$

101,652

$

32,735

$

33,750

$

34,796

$

35,875

$

36,987

$

38,134

$

39,316

$

40,535

$

41,791

$

43,087

$

44,422

$

45,800

$

467,228

$

10,193

$

10,509

$

10,835

$

11,171

$

11,517

$

11,874

$

12,242

$

12,621

$

13,013

$

13,416

$

13,832

$

14,261

$

-

$

-

$

-

$

-

$

145,483

$ 5,074,724

$

30,000

$

34,780

$

-

$

-

$

-

-

$

-

$

-

$

-

$

-

$

-

$

$

-

$

1,200

$

14,400

$

-

$

-

$

28,600

$

-

470305 Interest on Investments (12)

$

23,504

$

39,490

$

43,692

$

32,536

$

27,320

$

44,617

$

45,000

$59,993

460095 Intergovernmental Tax Revenue(3)

$

-

$

5,314

$

23,723

$

6,674

$

7,756

$

9,417

$

9,000

$6,900

Total Revenue:

$

669,669

$

881,106

$ 5,751,044

$

841,853

$

756,723

$

909,309

$

808,000

3.10%

3.10%

3.10%

O& M Expenditures (5) Airport Management

FY 2028

$

826,278

$

$

816,361

$

$

980,554

$

792,933

$

$

884,585

$

227,156

$

21,529,794

$41,210

$31,450

$

8,271

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

140,924

$6,181

$6,372

$

6,570

$

6,773

$

6,983

$

7,200

$

7,423

$

7,653

$

7,890

$

8,135

$

8,387

$

8,647

$

8,915

$

9,191

$

9,476

$

9,770

$

10,073

$

142,539

1,330,997

$

1,837,665

$

3,628,042

$

7,436,691

$

2,775,943

$

2,249,173

$

1,307,946

$

1,348,493

$

2,183,229

$

7,408,592

$

2,527,134

$

1,523,643

$

1,570,876

$

2,504,158

$

1,669,780

$

1,948,700

$

44,894,604

817,263

$

2,523,384

$

6,284,851

$

1,545,468

5,975,197

$

1,049,304

-

$450,000

$

431,800

$

278,703

$

369,253

$

416,711

$

299,540

$

361,251

CPI inflation (16) $ 445,000

$843,227

$653,786

$759,541

$

732,287

$

754,988

$

778,392

$

802,522

$

827,401

$

853,050

$

879,495

$

906,759

$

934,868

$

963,849

$

993,729

$

1,024,534

$

1,056,295

$

1,089,040

$

1,122,800

$

15,976,563

Operations, Maintenance & Capital Expenses (6)

$

31,131

$

403,664

$ 5,504,432

$

225,310

$

559,941

$

781,491

$

697,000

$707,126

$265,991

$526,055

$

338,864

$

349,369

$

360,199

$

371,365

$

382,878

$

394,747

$

406,984

$

419,600

$

432,608

$

446,019

$

459,846

$

474,101

$

488,798

$

503,951

$

519,573

$

7,848,073

Cost Allocation (18)

$

44,386

$

44,565

$

45,234

$

45,234

$

43,741

$

33,491

$

33,000

$34,496

$98,685

$118,247

$

124,159

$

130,367

$

136,886

$

143,730

$

150,916

$

158,462

$

166,385

$

174,705

$

183,440

$

192,612

$

202,242

$

212,355

$

222,972

$

234,121

$

245,827

$

2,930,608

Total O&M Expenditures:

$

507,317

$

726,932

$ 5,918,919

$

687,255

$

903,222

$ 1,176,233

$

1,175,000

1,403,843

$

1,195,310

$

1,234,724

$

1,275,477

$

1,317,618

$

1,361,195

$

1,406,259

$

1,452,864

$

1,501,064

$

1,550,916

$

1,602,480

$

1,655,817

$

1,710,990

$

1,768,065

$

1,827,112

$

1,888,200

$

26,755,245

$

154,174

$ (167,875) $

154,598

$

(104,371) $

682,165

$

5,857,676

$

924,654

$

(132,174) $

(140,113) $

736,093

$

(157,331) $

60,499

$

18,139,359

(4,088,136) $ (4,192,508) $ (4,010,342) $

966,334

$

$

3,978,714

$

7,217

$

3,985,931

$

4,725,168

$

2,404,312

Total Revenue - Less O&M Expenditures

$

162,352

End Cash Position Before Reserves (Cumulative)

$

1,989,128

Designated (7)

$

Pay Period 27 (2024) (8)

$

$

1,584,849

$

3.10%

3.10%

3.10%

3.10%

$ (146,499) $ (266,924)

$

(758,571) $

(201,199) $

(72,846) $

642,354

$

2,393,319

$

6,161,213

$

1,458,325

887,978

$

$1,975,428

$2,130,026

$1,983,527

$1,716,603

$

958,032

$

756,833

$

683,986

$

818,341

$

1,454,660

$

4,811,873

$

(1,820,802) $ (2,899,824)

$

113,635

$

113,904

$

100,205

$

98,771

$

149,663

$

149,663

$

150,000

$

258,909

$

153,603

$

214,695

$

178,882

$

184,428

$

190,145

8,808

$

8,989

$

6,458

$

6,458

$

6,855

$

6,855

$

7,000

$

7,217

$

138,275

$

139,200

$

123,459

$

122,529

$

156,518

$

156,518

$

157,000

$

266,126

$

153,603

$

214,695

$

178,882

$

184,428

$

190,145

$

$

1,850,853

$

691,906

$

603,230

$

469,292

$

639,459

$

1,270,232

$

4,621,728

$

Reserve %

Total Reserves:

1,018,462

3.10%

$2,143,303

Reserves

End Cash Position After Reserves (Cumulative)

$

3.10%

$2,004,103

$1,851,969

$2,007,497

$1,827,009

16.70%

$1,560,085

Capital Project Expenditures

16.70%

#REF! Project Year(s)

Capital Projects (9) (10)

Compound CPI Project Escalation Rate

16.70%

#REF!

3.10%

16.70%

#REF!

6.20%

16.70%

#REF!

9.30%

16.70%

#REF!

12.40%

16.70% $

#REF!

15.50%

196,039

196,039

16.70% $

$

202,116

$ $

#REF!

21.70%

(98,313) $

16.70% $

(2,016,841) $ (3,101,940) #REF!

18.60%

202,116

3.10%

208,382

208,382

16.70% $

$

214,842

214,842

3.10%

16.70% $

$

221,502

16.70% $

228,369

228,369

$

737,965

$

#REF!

#REF!

31.00%

#REF!

34.10%

3.10%

235,448

235,448

16.70% $

3.10%

3.10%

$

242,747

242,747

16.70% $

$

250,272

$

274,276

16.70% $

16.70%

274,276 (7,325,315)

#REF!

$

266,029

$

43.40%

258,030

(7,051,039)

$

#REF!

$

258,030

$

266,029

40.30%

250,272

16.70% $

3.10%

(4,983,460) $ (6,288,933) $ (6,436,571) $ (5,708,237) $ (6,856,567) #REF!

37.20%

3.10%

(4,748,012) $ (6,046,186) $ (6,186,299) $ (5,450,206) $ (6,590,538) 16.70%

$

$

27.90%

221,502

3.10%

(4,296,519) $ (4,407,350) $ (4,231,844) $ #REF!

24.80%

3.10%

#REF!

46.50%

#REF!

49.60%

#REF!

52.70%

55.80%

Airside Pavements Rehabilitate Runway 8-26

FY 2035

Seal Coat / Crack Seal Runway 8-26

FY 2031

Seal Coat / Crack Seal Runway 8G-26G

$

3,444,000

$

531,000

FY 2036

FY 2041

FY 2030

FY 2035

$

114,000

$ $

934,000 162,000

$

790,000

$

138,000

$

1,561,000

Rehabilitate Taxiways A (A1 to A4), A1, A2, A3, and A4 Seal Coat / Crack Seal Taxiways A (A1 to A4), A1, A2, A3, and A4 Rehabilitate Taxiways A (A4 to A6), A5, and A6

FY 2029 FY 2031 FY 2035

FY 2036

FY 2041

Seal Coat / Crack Seal Taxiways A (A4 to A6), A5, and A6

FY 2031

FY 2036

FY 2041

Rehabilitate West Apron

FY 2029

Seal Coat / Crack Seal West Terminal Apron

FY 2027

FY 2034

FY 2039

Rehabilitate Central Apron

FY 2029

Seal Coat / Crack Seal Central Apron

FY 2027

Rehabilitate East Apron

FY 2029

Seal Coat / Crack Seal East Apron

FY 2027

Reconstruct Southeast Apron

FY 2029

Seal Coat / Crack Seal Terminal Apron

FY 2027

FY 2034

FY 2039

FY 2034

FY 2039

FY 2034

FY 2039

$

160,000

$

1,931,000

169,333

$ $ $

169,333

$

202,176

169,333

$

172,224

$ $

207,000

$

232,668

251,000 560,000

$

282,124

$

39,000

$

43,836

Reconstruct Airport Entrance (Loop) Road

FY 2030

$

1,147,000

$

341,000

$ $

200,000 100,000

Acquire Snow Removal Equipment (SRE) - Broom

FY 2030

$

40,000

FY 2027

$

30,000

Install East AOA Fencing

FY 2028

$

272,000

$

272,000

Relocate and Replace Fuel Facility

FY 2028

$

1,992,000

$

2,300,760

219,000 480,000

Maintain Airport Office (3327) Environmental

FY 2031

$

42,000

Develop Airport CATEX Planning

FY 2027

$

150,000

$

168,600

FY 2027

$

700,000

$

700,000

FY 2027

$

150,000

$

150,000

FY 2033

$

500,000

Update Airport Exhibit A

FY 2030

$

250,000

$

19,506,000

18-Year Net Cash Position Notes:

$

252,396

$

215,004

$

750,175

$

1,851,346

$

$

277,587

$

309,672

$

336,591

$

375,496

$

52,299

$

58,344

1,395,899 467,852

$

-

$

-

$

$ $

958,032 958,032

$ $

(201,199) $ 756,833 $

508,000

$

(580,846) $ 175,986 $

520,707

231,000 118,600 -

-

$

-

$

$

182,550

1,757,000

$

(1,114,646) $ (938,659) $

2,804,000

$

(410,681) $ (1,349,340) $

8,091,000

$

250,000

$

1,967,000

$

(1,929,787) $ (3,279,127) $

$

(508,675) $ (3,787,802) $

-

$

633,760

$

2,290,166

$

819,927

$

2,058,896

$

994,211

$

664,160

$

154,479

1,090,000

$

(202,022) $ (3,989,824) $

-

$

(98,313) $ (4,088,136) $

205,800

$

233,700

500,000 500,000

$

(604,371) $ (4,692,508) $

881,000

$

(198,835) $ (4,891,342) $

6,639,000

$

(781,324) $ (5,672,666) $

1,166,000

$

(241,346) $ (5,914,012) $

-

$

(132,174) $ (6,046,186) $

-

$

(140,113) $ (6,186,299) $

983,000

$

(246,907) $ (6,433,206) $

521,000

$

(678,331) $ (7,111,538) $

-

$

1,395,899

$

988,559

$ $

231,000 118,600

$

-

$

-

$

272,000

$

2,300,760

$

-

52,416

$ $

239,360

664,160

$

Aviation Easements (West End RPZs)

End Cash Position After Capital Projects (Per Year) End Cash Position After Capital Projects (Cumulative)

$

193,614

$

Noise Study per Master Plan Update

Capital Projects Total

227,286

$

$

$

Update Master Plan and Airport Layout Plan

(11)

2,058,896

$

$

FY 2041

$

-

$

FY 2035

FY 2039

$

$

$

827,298

$ $ $

214,560

$ $

FY 2037

FY 2030

FY 2034

2,290,166

$

$

FY 2029

1,083,880

$

-

FY 2028 FY 2029

Install Electrical Vehicle Charging Stations

$

$

FY 2035

Apply Runway, Taxiway, and Apron Markings

295,146 1,107,724 851,191 1,083,880

744,993

1,851,346 $

Seal Coat / Crack Seal Airport Entrance (Loop) Road Electrical / NAVAIDs Replace Automated Weather Observation Stations (AWOS) Replace Airport Beacon Equipment Acquire Mowing Tractor w/ Attachments Facilities

$

$

179,840

1,736,000

335,000

156,408

$

$ $ $

4,725,168

$

1,107,724

$

$

FY 2028

$ 662,688

138,738

$

$

Install Vehicle Service Road (VSR) Millings Landside Pavements

FY 2040

$

-

$

-

$

52,416

$

790,650

$

700,000

$

150,000

$

500,000

$

250,000

$

28,434,000

(1,467,501) $ (8,579,039)

(8,579,039)

1,528,000

(7,111,538)

All footnotes hidden for readability of the spreadsheet

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