COMPREHENSIVE ANNUAL FINANCIAL REPORT 1 1 0 2 A component unit of the City McGhee Tyson Airport of Knoxville, P.O. Box 15600 Knoxville, TN 37901 Tennessee for the 865/342-3000 • Fax865/342-3050 fiscal year Email:
[email protected] ended www.flyknoxville.com June 30, 2011 The “Arts in the Airport” program is a collaboration between the Authority and the Arts & Cultural Alliance of Greater Knoxville. The juried artwork showcases regional artists. METROPOLITAN KNOXVILLE AIRPORT AUTHORITY 2011 Comprehensive Annual Financial Report A component unit of the City of Knoxville, Tennessee For the fiscal year ended June 30, 2011 PREPARED BY: Accounting and Finance Department of Metropolitan Knoxville Airport Authority www.flyknoxville.com 2 INTRODUCTORY SECTION This section contains the following subsections: Table of Contents Metropolitan Knoxville Airport Authority Officials Letter of Transmittal and Exhibits Organizational Chart 3 4 METROPOLITAN KNOXVILLE AIRPORT AUTHORITY TABLE OF CONTENTS Introductory section Metropolitan Knoxville Airport Authority Officials 7 Letter of transmittal and exhibits 9 Organizational chart 19 Financial section Report of Independent Auditors 23 Management’s discussion and analysis 25 Financial statements: Statements of net position 33 Statements of revenues, expenses and changes in net position 35 Statements of cash flows 36 Notes to financial statements 37 Statistical section (unaudited) Schedule 1: Operating revenues and expenses—last ten years 56 Schedule 2: Debt service coverage—last ten years 58 Schedule 3: Ratio