Comprehensive Annual Financial Report For the years ended April 30, 2010 and 2009
Department of Aviation an Enterprise Fund of the City of Kansas City, Missouri 601 Brasilia Avenue, Kansas City, Missouri 64153
Comprehensive Annual Financial Report
For the Department of Aviation an Enterprise Fund of the City of Kansas City, Missouri
For the years ended April 30, 2010 and 2009
Prepared by: Finance and Accounting Division
Eric Clevenger, CPA Deputy Director, Finance and Accounting
Danelle J. Harrison General Ledger Manager Introduction Governance
Kansas City (the City) is a constitutionally chartered city and politi- legislation, the committee will forward a recommendation to the full cal subdivision of the State of Missouri, incorporated on June 3, City Council for approval. 1850. The City is the central city of a fifteen-county Metropolitan Statistical Area (MSA) situated at the confluence of the Kansas and The City Council is also responsible for appointing the City Missouri rivers. Manager who is responsible for implementing the policies approved by the City Council. The City Manager appoints and has oversight The City is governed by a city council comprising a mayor and responsibility for the Director of Aviation. twelve other elected members. The city council is elected to four- year terms of which only two terms may be consecutive. The Mayor The Director of Aviation (the Director) is responsible for the and six of the council members are elected at large and six council operation and maintenance of the Department’s two airport members are elected by the residents of their districts. The City facilities: the Kansas City International Airport and the Charles B. Council is responsible for establishing the City’s policy and over- Wheeler Downtown Airport, and a portion of the Richards-Gebaur seeing the City’s affairs. Intermodal Transportation Facility (formerly Richards-Gebaur Memorial Airport). The Director is also responsible for department The Mayor appoints five members of the City Council to serve on staffing requirements and operates the department via nineteen the City’s Transportation and Infrastructure Committee. This com- divisions. Each division manager is responsible for budgeting and mittee performs in-depth reviews of proposed Aviation Department overseeing the daily operations of his/her respective division. legislation and objectives. Subsequent to the review of department
CITY OF KANSAS CITY, MISSOURI
Mark Funkhouser, Mayor
City Council Members
Council Members-at-Large District Council Members District 1 ....Deb Hermann District 1 ....Bill Skaggs* District 2 ....Ed Ford District 2 ....Russ Johnson District 3 ....Melba Curls* District 3 ....Sharon Sanders Brooks District 4 ....Beth Gottstein District 4 ....Jan Marcason* District 5 ....Cindy Circo District 5 ....Terry Riley** District 6 ....Cathy Jolly* District 6 ....John A. Sharp
*Denotes member of Transportation & Infrastructure Committee **Denotes chairperson of Transportation & Infrastructure Committee
Troy Schulte, Interim City Manager
PictureS: Page 1: Clockwise from top left: A bird’s eye view of activity at Terminal B; enterance to the terminals at dusk with a structure in the foreground funded by the One Percent for Art Program and the FAA tower in the background; the view looking out of one of the newly constructed T-hangars at the Charles B. Wheeler Downtown Airport with downtown Kansas City in the backgrond. Page 3: The recently completed Aircraft Rescue & Fire Fighting (ARFF) Station on the airside region at the Kansas City International Airport. Page 5: Counter-clockwise from bottom left: Mark D. VanLoh, Director of Aviation; David Graham Long, Deputy Director, Properties & Commercial Development; Kathy Whalen, Internal Auditor; Ian Redhead, Deputy Direcrtor, Operations & Maintenance; Stanley Barrett, Assistant to the Director; Eric B. Clevenger, Deputy Director, Finance & Accounting; Philip Muncy, Assistant Director, Planning & Engineering and Thomas McKenna, Assistant Director, Marketing. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report Fiscal Years Ended April 30, 2010 and 2009
DEPARTMENT OF AVIATION
Mark D. VanLoh, A.A.E. Director of Aviation
Ian Redhead, C.M. Eric B. Clevenger, C.P.A. Deputy Director Deputy Director Operations & Maintenance Finance & Accounting
David Graham Long, A.A.E. Deputy Director Properties & Commercial Development
Philip Muncy, P.E. Thomas McKenna Assistant Director Assistant Director Planning & Engineering Marketing
Stanley Barrett Kathleen Whalen, C.I.A. Assistant to the Director Internal Auditor Introduction
Number of Enplanements per Fiscal Year
6,000,000
5,500,000
5,000,000
4,500,000
4,000,000 FY E 06 FY E 07 FY E 08 FY E 09 FY E 10 City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report Fiscal Years Ended April 30, 2010 and 2009
Table of Contents
Introductory Section...... 9 Table IV-5 Schedule of Airlines Market Share...... 82 Transmittal Letter...... 11 Table IV-7 Organizational Chart...... 17 Schedule of MCI Aircraft Operations...... 86 Table IV-9 Schedule of Enplaned Cargo...... 87 Financial Section...... 19 Table IV-8a Independent Accountants’ Report...... 20 Schedule of Commercial Aircraft Landed Weight by Airline...... 88 Management’s Discussion and Analysis...... 23 Table IV-8b Financial Statements: Schedule of Commercial Aircraft Landings...... 92 Statements of Net Assets...... 30 Table V-6 Schedule of Annual Parking Revenue by Facility...... 96 Statements of Revenues, Expenses and Changes in Net Assets.. 32 Table VI-10 Statements of Cash Flows...... 33 Schedule of Historical Airline Cost Per Enplaned Passenger...... 97 Notes to Financial Statements...... 35 Table VI-2 Schedule of Total Airport System Revenue and Expenses...... 98 Table VI-3 Statistical Section...... 57 Schedule of Historical Operating and Maintenance Expenses...... 100 Financial Trend Information: Table VI-5 Schedule of Historical Revenues...... 102 Schedule of Historical Net Assets and Cash Flows...... 58 Table VI-13 Schedule of Historical Revenues and Expenses...... 60 Schedule of PFC Revenues...... 104 Schedule of Statements of Cash Flows...... 62 Table VI-14 Schedule of Unrestricted and Restricted Cash and Schedule of PFC Bond Sufficiency Covenant...... 105 Investments ...... 64 Demographic and Economic Information Revenue Capacity Information: Schedule of Population...... 106 Schedule of Revenues, Expenses and Changes in Fund Net Schedule of Principal Employers...... 107 Assets by Facility...... 66 Schedule of Grants...... 67 Operating Information Schedule of Highest Paying Customers...... 68 Schedule of Rates and Charges...... 108 Schedule of Most Popular Destinations...... 69 Schedule of Facility Information...... 110 Schedule of Non-Stop Destinations...... 70 Schedule of Department of Aviation Operating Expenditures by Schedule of Passenger and Cargo Airlines...... 71 Division...... 112 Schedule of Airline Service...... 72 Schedule of Department of Aviation Full-Time and Equivalent Employees by Division...... 114 Debt Capacity Information: Schedule of Assets Capitalized...... 115 Schedule of Ratios of Outstanding Debt, Debt Service and Schedule of Construction In Progress...... 116 Debt Limits ...... 74 Table VI-11 Schedule of Historical GARB Debt Service Coverage...... 76 Compliance Section...... 117 Table IV-1 Independent Accountants’ Report...... 118 Schedule of Annual Passenger Enplanements...... 78 Schedule of PFC Funds Collected and Expended...... 120 Table IV-3 Notes to Schedule of PFC Funds Collected and Expended...... 121 Schedule of Monthly Enplanements...... 79 Table IV-3B Schedule of Changes in Monthly Enplanements vs. U.S. Domestic Monthly Enplanements...... 80 Introductory Section
Total Cargo Pounds per Fiscal Year (in thousands)
160,000
140,000
120,000
100,000
80,000 FY E 06 FY E 07 FY E 08 FY E 09 FY E 10 City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report Fiscal Years Ended April 30, 2010 and 2009
Introductory Section
This section contains the following subsections:
Transmittal Letter presentation of Comprehensive Annual Financial Report by the Director of Aviation
Organizational Chart
organization of the department of aviation management Introductory Section 10 Transmittal Letter
Total Assets
$920,000,000
$900,000,000
$880,000,000
$860,000,000
$840,000,000
$820,000,000
$800,000,000 FY E 06 FY E 07 FY E 08 FY E 09 FY E 10 City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 11 Fiscal Years Ended April 30, 2010 and 2009
KANSAS CITY AVIATION DEPARTMENT Kansas City International Airport 601 Brasilia Avenue Kansas City, Missouri 64153
October 6, 2010
Honorable Mayor and City Council Members, City of Kansas City, Missouri; Mr. Troy Schulte, Interim City Manager, City of Kansas City, Missouri; Citizens of Kansas City; and Fellow Employees:
I hereby present this Comprehensive Annual Financial This report is prepared in accordance with the guidelines set forth by the Government Finance Officers Association of the United States and Report (the Report) of the Department of Aviation (the Department) Canada (GFOA). The GFOA awards a Certificate of for the City of Kansas City, Missouri (the City). Achievement to all public entities whose CAFR has attained the high standards of public financial reporting, including U.S. generally State law requires that all political subdivisions publish an annual accepted accounting principles (GAAP) promulgated by the report of financial transactions. This report is published to fulfill that Government Accounting Standards Board (GASB). Subsequent to requirement for the fiscal year ended April 30, 2010. The independent publication of this report, it will be submitted for consideration by accounting firm, BKD, LLP, whose report is included, has issued an GFOA in meeting the high standards of disclosure and reporting. unqualified (clean) opinion on the Department’s financial statements for the years ended April 30, 2010 and 2009. The independent The reader is encouraged and reminded that the Management accountants’ report is located at the front of the financial section Discussion and Analysis (MD&A) beginning on page 23 is a narrative of this report. The independent accounting firm also conducted an representation of the past year’s financial results and should also be audit of compliance as required by Section 14 of the Code of Federal read with this letter. Regulations (CFR) Part 158, Passenger Facility Charges.
This report was prepared by the Finance and Accounting Division Profile of the Department of Aviation of the Department, which is committed to the accurate disclosure of The Department of Aviation (the Department) is a department of the reporting to the City Council and citizens of the City. City and commenced operations concurrent with the dedication of the Kansas City Municipal Airport, now the Charles B. Wheeler Downtown The financial statements and statistical information contained herein Airport, on August 17, 1927 by aviation legend, Charles Lindbergh. are representations of the Department’s management, which bears The Department now oversees operations at the Kansas City the responsibility for the accuracy, completeness, and fairness of this International Airport and the Charles B. Wheeler Downtown Airport. report. To the best of my knowledge, these representations are accu- The majority of Richards-Gebaur Intermodal Transportation Facility rate in all material respects. (formerly Richards-Gebaur Memorial Airport) was sold in June 2007. Introductory Section 12 Transmittal Letter
Kansas City International Airport 2. To increase the percentage of fixed revenue. The Department The Kansas City International Airport (MCI) is located 18 miles north currently has a far greater percentage of variable revenue than of downtown Kansas City, Missouri, and is comprised of 10,725 fixed revenue, which is favorable in a positive economic environ- acres. MCI officially opened on November 11, 1972 and serves as ment and unfavorable in a negative economic environment. To the primary passenger air carrier airport. MCI has three fully instru- protect against any future declining economic environments, and mented runways and a full complement of parallel taxiways that are when it is financially prudent, the Department will pursue fixed capable of handling any aircraft in service today. To accommodate all versus variable revenue streams to protect itself. The Ambassa- passengers, the airport has three passenger terminals that have a dor Building, a six-story office building, is an example of a fixed total of over one million square feet with 66 boarding gates and 48 revenue source. Fixed revenues are also being generated at the passenger boarding bridges. Each of the three terminals includes a Charles B. Wheeler Downtown Airport, by way of 96 newly con- full complement of offices, food and beverage concession areas, structed T-hangars for personal aircraft storage. restrooms, news and gift shops, departure lounges and baggage handling facilities. The airport has 24,531 parking spaces to accom- modate vehicles for airport visitors. Local Economy Kansas City, Missouri, is the most centrally located principal city in Charles B. Wheeler Downtown Airport the United States of America. Such a logistically favorable location The Charles B. Wheeler Downtown Airport (MKC) formerly served as has allowed the City to flourish as a mecca for transportation-related the City’s air carrier airport prior to MCI’s opening in 1972. The air- industries and companies, as evidenced by the decision of 10 major port is conveniently located across the river from the downtown area passenger air carriers, 4 major cargo air carriers, 5 first-class rail- and is comprised of 697 acres, approximately the same size as when roads and well over 100 trucklines. Within a three-hour flight, one it was dedicated in 1927. The airport currently services the general can be in any one of the 50 major cities in the “lower 48.” Not only aviation community as a reliever airport with one fixed base opera- is the City served by air, but it is served on the ground as well. The tion, hangar, tie-down, fueling station, maintenance aircraft rental City boasts one of the largest railroad hubs in the world and is also and charter and training services. The airport is also home to a col- the headquarters for Kansas City Southern Railroad. Located in the lege-level aircraft maintenance school and an aircraft museum. heart of America, the City is well suited for truck transportation and is the headquarters for YRC Worldwide (formerly known as Yellow Roadway Corporation) as well as twelve of the Fortune 1000 com- Long-Term Financial Planning panies. The Department has two long-term financial goals: Historically, the City has pursued a policy of annexation, and today 1. To diversify more revenue away from aviation-related industries. is the 21st largest city in land area in the United States of America with The majority of the Department’s revenue is concentrated on the a total area of approximately 314 square miles. airline industry. To hedge against any future downturns in the air- line industry, the Department has diversified its revenue sources The City has a Metropolitan Statistical Area (MSA) that includes a into other industries. An example of this type of diversification in- total of fifteen counties; nine of these counties are located in Missouri cludes the development of land for use in the warehousing indus- and the remaining six are located in Kansas. Those counties located try by Trammell Crowe on the southeast corner of the airfield. in Missouri include Bates, Caldwell, Cass, Clay, Clinton, Jackson, Lafayette, Platte and Ray and those located in Kansas include City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 13 Fiscal Years Ended April 30, 2010 and 2009
Franklin, Johnson, Leavenworth, Linn, Miami and Wyandotte. In Highlights total, this fifteen-county MSA encompasses an area of 7,856 square May 2009 miles. Within this MSA are three principal cities: Kansas City, The Recycling Program at MCI, which began in November 2005, Missouri; Overland Park, Kansas and Kansas City, Kansas. has been selected by the Missouri Recycling Association (MORA) to receive the 2009 award for Outstanding Leadership in Recycling. The primary Air Service Area (ASA) serves the population within and Each year the MORA Awards Program recognizes individuals and beyond the MSA and includes the Buchanan, Missouri and Douglas, organizations in Missouri for their accomplishments in recycling and Kansas counties. In total, an estimated 2,273,824 residents live waste reduction. More than 20 nominations were submitted and within the ASA and no other hub airport overlaps the primary ASA. winners were selected for their innovation and effectiveness in recy- The nearest large hub airport, St. Louis, is located 250 miles away. cling. Already a “green” pioneer locally, with its fleet of compressed Small hub airports, Des Moines and Wichita, are each located natural gas buses, the Aviation Department last year joined airports approximately 180 miles away. The population of the MSA comprises worldwide in committing to environmental responsibility. 90.9 percent of the ASA’s population and, therefore, all discussion of economic trends will focus on the MSA. June 2009 Generally, there has been a slight increase in unemployment rates The Department opened a new valet parking operation known as regionally as well as nationally. However, the state of Kansas has Park Air Express. Complimentary benefits are offered, such as lug- experienced a slight decrease in unemployment. The unemploy- gage assistance, newspaper, coffee and water, automatic bill pay ment rates for the MSA, the states of Kansas and Missouri, and the and a frequent parker rewards program. The site offers 1,200 un- national average is as follows: covered and about 100 covered parking spaces. This facility is man- aged by MCI’s current parking operator under the nationwide Park FYE08 FYE09 FYE10 Kansas City MSA 4.5% 8.0% 8.3% Air Express brand. The venture fulfills the City’s efforts to maximize State, Missouri 5.4 9.1 9.5 the use of airport land and offer superior customer service to both State, Kansas 4.0 6.7 6.5 National 5.0 8.9 9.9 citizens and visitors. Source: www.bls.gov, seasonally adjusted except Kansas City MSA
Over the past calendar year inflation was relatively stable, decreas- August 2009 ing 0.1 percent as compared to a 3.4 percent increase the previous Renovation of the Fleet Maintenance complex at the Kansas City calendar year. International Airport is completed. The renovations include the addi- tion of three new vehicle work bays, updated offices, an enhanced CPI-U Annual Increase computer network, and a modernized phone system. The confer- CY2002 174.0 1.0% ence room and break rooms are also updated and the HVAC system CY2003 177.0 1.7% was refurbished. CY2004 180.7 2.1% CY2005 185.3 2.5% CY2006 190.1 2.6% CY2007 194.5 2.3% CY2008 201.2 3.4% September 2009 CY2009 201.0 (0.1)% The Kansas City Aviation Department began work on construction Source: www.bls.gov, not seasonally adjusted, Kansas City MO-KS MSA of a $17 million Engineered Materials Arresting System (EMAS) on Runway 1/19 at the Charles B. Wheeler Downtown Airport. EMAS is designed to minimize the chance of injury and damage by arresting Introductory Section 14 Transmittal Letter
aircraft momentum with the use of a 300-foot barrier of specially con- will fund between 75 and 95 percent of the entire project. The structed blocks. These blocks are made of aerated Portland cement remaining portion is funded by Department funds. and crush like plastic foam under the weight of the aircraft. At April 30, 2010, the Department had fifteen AIP grants open, none of which were opened in the current fiscal year. Please see Schedule October 2009 of Grants on page 67 for more details. The newly constructed facility for storing snow removal equipment enables the Field Maintenance Division to have quicker access to the The Department also has operating grants from the Federal Aviation airfield during winter weather events. The facility offers storage for Administration that fund the costs to provide canine bomb detection the entire fleet of 40 large-scale vehicles that are used to remove ice, services and from the Transportation Security Administration for law snow and sleet from the airport’s runways and taxiways. enforcement officers. The proceeds provided by these grants in the past fiscal year totaled $315,569.
January 2010 The announcement of a new tenant at Kansas City International Air- port was named. Founded in 1997, Jet Midwest is a commercial Cash Management aircraft supplier that provides parts and engines as well as aircraft The City administers the cash management of the Department’s sales, leasing and management. It also has an aircraft and engine funds and invests them in accordance with the City’s charter Section maintenance repair operation as well as an overhaul operation. The 2-1611, Investment of Idle Cash. This section allows for the invest- effort to bring Jet Midwest to MCI and utilize the space formerly oc- ment of idle cash in financial instruments that are safe, liquid and cupied by American Airlines is part of an aggressive economic devel- offer a high yield, in that order of priority. The City maintains pooled opment approach that incorporates a mix of aeronautical and non- and non-pooled investments in accordance with the city charter aeronautical tenants and developments. investment policy.
January 2010 As a nice complement to the recently completed Tee Hangar project, Art Fund the Charles B. Wheeler Downtown Airport opened a self-serve fuel- The Department is a part of the City's One Percent for Art program. ing station for pilots and their aircraft. The station features Avgas 100 This is a legislated program passed in December 1986 which octane low-lead fuel. Pilots can pay by credit card and begin fueling requires that one percent of the cost of the construction, reconstruc- their aircraft just as automobile drivers do. tion or remodeling of any municipal building be set aside for public art.
Grant Management The Budget The Department has relied heavily on Airport Improvement Program Department management has long recognized the importance of (AIP) grants, sponsored by the Department of Transportation, a par- proper and accurate budgeting. To this end, the Department annally ent agency of the Federal Aviation Administration, to fund many of its creates a budget and submits it to the City Council for approval. capital improvement projects. Some of these projects include the Department control of the budget is maintained using encum- inline baggage screening system, the glycol recovery system, the brances. A report of year-to-date actuals vs. budget is prepared acquisition of snow removal equipment, rehabilitation of airfield light- monthly and distributed to all division managers. ing, and runway and taxiway rehabilitation. Normally, these grants City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 15 Fiscal Years Ended April 30, 2010 and 2009
Internal Control The City’s Department of Aviation has won this prestigious award for The Department’s internal control structure is an important and inte- its comprehensive annual financial reports for five consecutive years gral part of its entire accounting system. The current structure in (Fiscal Years Ended April 30, 2004 through 2008). Separately audit- place is designed to provide reasonable, but not absolute, assur- ed financial statements for the Airport Fund were not prepared for fis- ance that: cal year ended April 30, 2009, therefore no report was submitted for the award that year. For fiscal year ended April 30, 2010, however, 1. Assets are safeguarded against loss from unauthorized use or a separate audit was performed and I believe that our current com- disposition; prehensive annual financial report continues to meet the Certificate 2. Transactions are executed in accordance with management’s of Achievement Program’s requirements and I am submitting it to the authorization; GFOA to determine its eligibility for another certificate. 3. Financial records are reliable for preparing financial statements and maintaining accountability for assets; and
4. There is compliance with applicable laws and regulations. Acknowledgements The concept of reasonable assurance recognizes that the cost of the The production of this report is a cooperative effort of all the divisions control should not exceed the benefits that are likely to be derived within the Aviation Department and, to this end, I extend my appre- from them, and that the evaluation of costs and benefits requires ciation to all divisions and their respective employees. I particularly estimates and judgment by management. recognize the efforts of the Finance and Accounting Division employ- ees for the preparation of this report and their endeavor to accu- I believe that the Department’s internal control framework adequate- rately portray the financial operations of this Department. ly safeguards assets and provides reasonable assurance and proper recording of financial transactions. Management also believes that Lastly, I would like to acknowledge the support of the City of Kansas the data in this Report, as presented, is accurate in all material City, Missouri, its City Council, the members of the Transportation respects; that it presents fairly the financial position, results of opera- and Infrastructure Committee, and Mr. Troy Schulte, Interim City tions and cash flows of the Department, and that all disclosures Manager. necessary to enable the reader to gain maximum understanding of the Department’s financial affairs have been included herein.
The Department has an internal audit division that consists of one full-time employee. An audit committee, comprised of the Director of Mark VanLoh, AAE Aviation and two Deputy Directors, directs the duties and audits of Director of Aviation this division.
Awards The Government Finance Officers Association of the united States and Canada (GFOA) awards a Certificate of Achievement for Excellence in Financial Reporting to governments who publish an easily readable and efficiently organized financial report. This report must satisfy both u.S. generally accepted accounting principles and applicable legal requirements. Introductory Section 16 Organizational Chart
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City Council
Troy Schulte Interim City Manager
Alicia Williams Dorothy Campbell Mark VanLoh Manager of Legal Department Director of Aviation Human Resources Liaison
David Long Ian Redhead Eric Clevenger Deputy Director/ Deputy Director/ Deputy Director/ Properties & Operations and Finance & Accounting Commercial Maintenance Development
Phil Muncy Stan Barrett Sabrina Largen Kathy Whalen Tom McKenna Assistant Director/ Assistant Environmental Internal Auditor Assistant Director/ Planning and to the Director Management Marketing Engineering
Veronica Watson-Perkins Safety Manager
Engus Carter David Bowen Michael Roper Dave Hurst Information MCI Manager Manager of Manager of Technology of Operations Downtown Airport Parking Operations Liaison
Al Lomax Kristin Danner Chief of Airport Manager of Police Bus Operations
Henry Linch Mitch Cox Superintendent of Garage Facilities- Superintendent Structural
Cynthia Williams Rich Weems Superintendent of Superintendent of Fiacilities- Field Maintenance Custodial Financial Section 18
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Financial Section
This section contains the following subsections:
Independent Accountants’ Report opinion letter from independent accountants regarding the financial statements con-
tained in this comprehensive financial report (cafr)
Management’s Discussion and Analysis narrative analysis from management discussing the current fiscal year activities and the financial statements included in this comprehensive annual financial report (Report)
Financial Statements comparative financial reports for the current and prior fiscal years, including the statements of net assets; statements of revenues, expenses and changes in net assets and statements of cash flows.
Notes to the Financial Statements summary of significant accounting policies and additional information concerning the data reflected in the financial statements. Financial Section 20 Independent Accountants’ Report City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 21 Fiscal Years Ended April 30, 2010 and 2009 Financial Section 22 Management’s Discussion and Analysis
Operating Profit Before Non -Cash Operating Expenses
$30,000,000
$25,000,000
$20,000,000
$15,000,000
$10,000,000
$5,000,000
$0 F YE06 F YE07 F YE08 F YE09 F YE10 City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 23 Fiscal Years Ended April 30, 2010 and 2009
This management’s discussion The statements of revenues, expenses and changes in net assets and analysis (MD&A) of the City of Kansas City, present information showing how the Department's net assets Missouri Aviation Department (the Department) provides an intro- changed during the year. All changes in net assets are reported as duction and overview of the Department's financial statements and soon as the underlying event giving rise to the change occurs, activities for the fiscal years ended April 30, 2010 (FYE10) and April regardless of the timing of the related cash flows. 30, 2009 (FYE09). The Kansas City Airports Fund is an enterprise fund of the City of Kansas City, Missouri, (the City) and is supported In the statements of cash flows, only transactions that affect the wholly by airport user charges. No general tax fund revenues are Department's cash accounts through operating activities, financing used for the administration, promotion, operation or maintenance of activities and investing activities are listed. the airports in the system. The Department is charged with the responsibility to operate and maintain the City's two airports: the Kansas City International Airport (MCI) and the Charles B. Wheeler Airport Activities and Highlights Downtown Airport (MKC). One of the Department's leading activity indicators, passenger enplanements, decreased slightly, by 2.4 percent in FYE10. This The information contained herein should be considered in conjunc- decrease in enplanements was the result of unfavorable economic tion with the financial statements and notes in order to provide a conditions for most of the past fiscal year. This decrease in enplane- complete understanding of the financial performance and activities ments also resulted in decreased revenues from terminal and this past year. The City combines the financial operations of the City's two airports into one set of financial statements for the entire apron fees, parking fees and concessions. In the prior year, FYE09, Department. Approximations are used throughout this MD&A in enplanements decreased at a more rapid rate of 14.3 percent. describing fluctuations between fiscal years and may not equal actual differences. The Department's other leading activity indicator, aircraft landed weight, also showed a decrease in FYE10. However, that 7.2 per- cent decrease was not as severe as the 16.5 percent decrease in Overview of the Financial Statements FYE09. The accompanying financial statements are prepared on an accrual basis in accordance with U.S. generally accepted accounting prin- To a lesser extent, enplaned cargo is also used as an indicator of the ciples, as set forth by the Governmental Accounting Standards Department's activity. Cargo continued to decrease in FYE10 show- Board (GASB). Revenues and expenses are recognized when ing a reduction of 17.4 percent. In FYE09, this indicator decreased earned and incurred, not when received or paid. Capital assets, 21.3 percent from the prior year. except land and construction in process, are depreciated over their useful lives. (See the notes to the financial statements for significant Activity indicators for the past three fiscal years are as follows: accounting policies). FYE08 FYE09 FYE10
The statements of net assets compare the Department's assets and Enplanements 5,905,827 5,058,885 4,939,032 Landed Weight (000 lbs.) 8,840 ,379 6,849 liabilities, with the difference between the two reported as net assets. Enplaned Cargo (000 lbs.) 144,059 113,362 93,678 Over time, increases or decreases in net assets may serve as a use- ful indicator of the Department's financial position. Financial Section 24 Management’s Discussion and Analysis
Financial Position and Assessment Summary of Operating Revenues Operating revenues for FYE08, FYE09 and FYE10 are itemized as In order to understand the revenues presented in this Report, an follows (in thousands): overview of the Airline Use and Lease Agreement (the Agreement) is FYE08 FYE09 FYE10 required to enhance the readers’ knowledge of the information pre- Terminal Fees: sented. Terminal Floor Space $9,920 $10,595 $9,356 Apron 1,898 1,652 1,698 Passenger Boarding Bridges 609 845 559 This is the first year of a new agreement which utilizes the following Total 12,427 13,092 11,613 four airline-specific cost centers: 1. Airfield, 2. Passenger Boarding Bridges, 3. Terminal Aprons and 4. Terminal Building. Airlines that Airfield Fees: Landing Fees 13,144 13,002 13,805 have executed an agreement with the airport are referred to as sig- Fuel Flowage Fees 7 55 428 229 natory airlines. Airlines using the airport without an executed agree- Total 13,899 13,430 14,034 ment are referred to as non-signatory airlines. Parking: Parking 43,906 40,157 39,995 The agreement cost centers are used to identify and reallocate air- Livery Trip Fees 101 146 65 line-specific expenses related to the leased premises, operations, Total 44,007 40,303 40,060 facilities or functions conducted at the airport by signatory airlines. Property Rental: Aviation 9,728 9,874 8,221 These cost center expenses are the basis for determining the rate Non-Aviation 4,292 6,25 7 5,645 charged to each signatory airline. All non-signatory airlines pay 125 Total 14,020 16,131 13,866 percent of the signatory airline rate. In exchange for this higher rate, Rental Car Fees: non-signatory airlines are not subject to the same terms and condi- Property Rental 575 604 587 tions as signatory airlines. Concession 10,121 10,28 7 9,239 Total 10,696 10,891 9,826 There are a maximum of three calculations performed under the Transportation Facility Charge 4,540 4,118 3,737 terms and conditions of the agreement: 1. Budgetary Calculation, 2. Concessions: Mid-Year Budgetary Adjustment and 3. Settlement. Before the start Food and Beverage 2,038 1,897 1,704 of every fiscal year, a budget is adopted for the operations of the News, Gifts, and Merchandise 1,224 1,029 837 Other 312 268 286 airport. Based on this adopted budget, rates are calculated for each In-Flight Food Service 85 58 43 agreement cost center and used for billing the airlines for their airport Total 3,659 3,252 2,870 operations. As the year progresses, the actual results are monitored Other 858 867 32 and compared to the adopted budget. If there is a significant change in circumstances from the adopted budget, a mid-year budgetary Total Operating Revenues $ 104,106 $102,084 $96, 7 38 adjustment is performed and the cost center rates are adjusted to reflect the change in circumstances. After the year is completed, a As a result of the unfavorable economic conditions during FYE10, settlement is performed to “true-up” the signatory airline rates to the Department's operating revenues have decreased by approxi- reflect the actual operating costs of each agreement cost center. mately $5.3 million, or 5.2 percent, from the previous year. However, There is no settlement calculation performed for the non-signatory the Department has encountered growth in its operating revenues airlines. three out of the last five years. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 25 Fiscal Years Ended April 30, 2010 and 2009
Total Operating Revenues Parking revenue, which is a key revenue source for Kansas City International Airport, decreased by about $244 thousand, or 0.6 $120,000,000 percent. Despite the decline in enplanements, this revenue source $100,000,000
$80,000,000 remained relatively stable due to an increase in rates for all parking
$60,000,000 facilities and the addition of Park Air Express to KCI’s group of park-
$40,000,000 ing facilities. Park Air Express is a full service modern airport valet $20,000,000 parking facility. This facility earned $0.9 million in its first year of $0 service. F YE06 F YE07 F YE08 F YE09 F YE10
The Department’s property rental revenue in FYE10 showed a In FYE10, revenue from Terminal Fees decreased by $1.5 million or decline of $2.3 million, or 14.0 percent, from FYE09. The major 11.3 percent from the prior year. This decrease was primarily due to reason for this decline is the $1.8 million year over year decrease in a reduction of $1.2 million, or 11.7 percent, in the Terminal Floor utility income from the aircraft maintenance and overhaul base, Space revenue. Revenue from the Passenger Boarding Bridges cost compared to FYE09. The Ambassador Building, aimed at diversify- center also showed a decrease, falling by $286 thousand, or 33.8 ing the Department’s revenue, showed steady income for the last percent, over FYE09. These decreases in Terminal Fees have pri- two fiscal years at over $2.1 million. marily been the result of lower occupancy levels by the airlines within the terminals. The Terminal Floor Space budgetary signatory Rental car fees in FYE10 decreased by $1.1 million, or 9.8 percent rental rate per square foot increased by just $0.29, or 1.0 percent, over FYE09 due to a reduction in volume of rental car usage. from $30.10 to $30.39. Similarly, the budgetary yearly rate for
Passenger Boarding Bridges increased by $2,129 per year, or 11.0 Transportation facility charges, which are assessed for each rental percent, from $19,429 to $21,558. The Terminal Apron agreement car transaction day, were increased in the current year from $2.00 to cost center revenues showed a slight increase of $46 thousand, or $2.10 per transaction day. These fees are used to pay for the main- a 2.8 percent, due to an increase in revenues collected from aircraft tenance facility and the buses that transport rental car customers. In remaining overnight as well as an increase in non-signatory rental FYE10, revenue from transportation facility charges decreased $381 fees. These results are coupled with a budgetary signatory rate thousand, or 9.2 percent. decrease of $5.77 per lineal foot, or a decrease of 2.6 percent, from
$218.57 to $212.80 per lineal foot. Concession fee revenue for FYE10 declined by $382 thousand, or 11.7 percent, from FYE09. The News, Gifts & Merchandise conces- Fees associated with the Airfield agreement cost center increased sion fees decreased $192 thousand, or 18.7 percent, and Food & $604 thousand, or 4.5 percent in FYE10. This increase was due to Beverage concessions decreased by $193 thousand or 10.2 per- an increase in non-signatory landing fees, both in passenger aircraft cent. and cargo aircraft. The Fuel Flowage Fees declined sharply from $428 thousand to $229 thousand, a decrease of $199 thousand or 46.4 percent. Financial Section 26 Management’s Discussion and Analysis
Summary of Operating Expenses Summary of Statements of Revenues, Expenses Operating expenses in FYE10 increased approximately $1.2 million, and Changes in Net Assets or 1.5 percent from the previous year. The 3.3 percent increase Net assets decreased by $1.4 million in FYE10. The 5.2 percent in salaries, wages and employee benefits reflects higher costs for reduction in operating revenues and the 1.5 percent increase employee health and life insurance and increased contributions to in operating expenses excluding depreciation and amortization, the employee pension plan. This past year the Department expend- resulted in an operating loss of $41.3 million, which represents an ed $3.6 million for the pension plan, which represents 11.5 percent increase of 12.1 percent from FYE09. Depreciation and amortization of FYE10 base salaries. expenses decreased by 3.4 percent due to the reduction in assets purchased during FYE10.
Total Operating Expenses Non-operating revenues in FYE10 decreased $4.5 million, or 13.1
$90,000,000 percent, due to a variety of factors. Interest earnings decreased by $80,000,000 $70,000,000 $4.5 million, or 58.7 percent, due to unfavorable short-term interest $60,000,000 rates during a good portion of FYE10. In addition, some long-term $50,000,000 $40,000,000 securities matured but there were limited investment opportunities $30,000,000 $20,000,000 for these funds. Passenger Facility Charge revenue showed a slight $10,000,000 $0 increase of $373 thousand, or 1.9 percent from the previous year. FY E 06 FY E 07 FY E 08 FY E 09 FY E 10 Customer Facility Charge revenue, which decreased $731 thou- sand, or 11.8 percent, was a result of a decline in rental car activity. Operating grant revenue increased $25 thousand, or 8.6 percent, Contractual services remained relatively stable in FYE10. Contractual due to an increased grant revenue source from the TSA, which services includes a $1.5 million, or 44.3 percent, increase in parking included the reimbursement of expenses for the canine bomb detec- lot operations due to the costs associated with operation of the newly tion services and a DEA grant. Other non-operating revenue, which acquired Park Air Express. Administrative service charges, which increased by $318 thousand, or 157.3 percent, included a $268 reflect the cost of services provided by the general government of thousand increase in recoveries of prior year’s expenditures. Kansas City, Missouri, increased $200 thousand, or 4.0 percent. Capital Contributions increased by $8.9 million, or 49.4 percent. The cost of commodities increased by 3.4 percent in FYE10 primarily Capital contributions at Charles B. Wheeler Downtown Airport due to increased costs for motor repair parts. increased by $3.8 million, or 78.6 percent, due to the rehabilitation of Runway 1/19. Capital contributions at Kansas City International Operating expenses excluding depreciation and amortization for the Airport increased by $5.1 million, or 38.7 percent, due to contribu- past three fiscal years are itemized as follows (in thousands): tions received from projects started last fiscal year, including the rehabilitation of certain taxiways, rehabilitaion of runway lighting, FYE08 FYE09 FYE10 rehabilitation of terminal aprons and update of the master plan and Salaries, wages, and benefits $27,456 $30,199 $31,200 Contractual services 46,221 44,689 44,728 14 CRF Part 150 Program. Commodities 4,260 3,794 3,925
Total $ 77 ,93 7 $ 7 8,682 $ 7 9,853 A summary of revenues and expenses for the past three fiscal years are as follows (in thousands): City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 27 Fiscal Years Ended April 30, 2010 and 2009
FYE08 FYE09 FYE10 previous year. No new debt was incurred during the current or prior Operating Revenues $ 104,106 $102,084 $96,738 fiscal years. Operating Expenses 77 ,93 8,682 9,853
Operating Income Before Non- The Department had the following additions and deductions from Cash Operating Expenses 26,169 23,402 16,885 the interest paid on its outstanding bonds for the last three fiscal Non-Cash Operating Expenses: years. (Please refer to notes 8 and 9 for more details.) Depreciation 50,326 52,612 50,896 Depreciation-Grant Proceeds ,346 ,287 6,982 Amortization 35 7 366 342 FYE08 FYE09 FYE10 Interest Paid $18,951,626 $17,981,773 $16,918,686 Total 58,029 60,265 58,220 Interest Capitalized - - - Accrued Interest (106,423) (180,566) (142,023) Operating Loss (31,860) (36,863) (41,335) Amortized Loss on Refunding 615,163 609,976 431,849 Amortized Bond Discount 6,342 65,186 59,608 Non-Operating Revenue: Amortized Premium (655,328) (811,973) (724,634) Earnings on Cash/Investments 12,678 ,687 3,171 Interest Exp. on Refund - 13,495 - Passenger Facility Charge 23,822 20,159 20,533 Fiscal Agent Fees Paid 2,116 2,331 3,465 Customer Facility Charge 6,810 6,170 5,440 Operating Grant Revenue 185 291 316 Interest Expense $18,883,496 $1 7 ,680,222 $16,546,951 Other 2,923 202 520 Total Non-Operating Revenue 46,418 34,509 29,979
Non-Operating Expense: Capital Contributions Interest 18,884 17,680 16,547 Receipts from capital grants during the last three fiscal years are Other 182 227 276 as follows: Total Non-Operating Expense 19,066 17,907 16,823 FYE08 FYE09 FYE10 AIP 3-29-0040-43 $ 6,148,685 $ 4,301,656 $ 1,561,371 Non-Operating Income 27,352 16,602 13,157 AIP 3-29-0040-44 552,527 - - AIP 3-29-0040-47 2,092,494 1,395,677 2,764,622 Loss Before Capital Contribution (4,508) (20,261) (28,178) AIP 3-29-0040-49 1,270,667 642,885 - AIP 3-29-0040-51 451,117 - - Capital Contributions 20, 7 31 1 7 ,913 26, 7 66 AIP 3-29-0040-52 1,123,275 - - AIP 3-29-0040-53 2,747,048 - - Inc (Dec) in Net Assets 16,223 (2,348) (1,412) AIP 3-29-0040-54 289,128 - - AIP 3-29-0040-55 5,541,645 1,499,398 - Net Assets–Beginning of Year 481,114 49 7 ,338 494,989 AIP 3-29-0040-56 - 2,056,936 - AIP 3-29-0040-57 - 669,233 4,668,071 Net Assets–End of Year $497,338 $494,989 $493,577 AIP 3-29-0040-58 - 1,283,739 3,462,557
AIP 3-29-0040-59 - - 2,509,597 AIP 3-29-0040-60 - 342,042 - AIP 3-29-0040-61 - 911,087 - Debt Administration AIP 3-29-0040-62 - - 1,370,961 AIP 3-29-0040-63 - - 1,837,973 Total debt outstanding at FYE10 was approximately $332.4 million, AIP 3-29-0041-13 108,884 - an $18.9 million decrease from the previous year. This decrease is AIP 3-29-0041-17 405,787 2,890,480 335,909 due to the normal payment of debt service obligations during the AIP 3-29-0041-18 - 344,470 9,224 AIP 3-29-0041-20 - - ,476,069 year. Another item of note is the 2005H General Airport Revenue AIR 086-107C - 1,575,000 -
Bonds were retired during FYE10. Total debt outstanding at FYE09 Total contributions $20,731,257 $17,912,603 $26,766,354 was approximately $351.3 million, a $19.8 million decrease from the Financial Section 28 Management’s Discussion and Analysis
Capital contributions and capital grant revenues increased approxi- The agreement negotiated between the City and the airlines mately $8.9 million, or 49.4 percent in FYE10 compared to the $2.8 became effective May 1, 2009 and will expire April 30, 2014, with million decrease in FYE09. Capital improvement projects funded the provision for yearly extensions on this agreement. R&Cs are by grants in FYE10 included the rehabiliation of several taxiways, determined for a year using budgeted amounts. After six months, runways at both the Kansas City International and the Charles B. the R&Cs may be amended to conform with year-to-date actuals. At Wheeler Downtown Airports, aprons and airfield lighting. the end of each fiscal year, settlement R&Cs are calculated based on actual amounts and additional payments may be paid to or received from the signatory airlines. The rates and charges settle- Summary of Statements of Net Assets (in thousands) ment rates billed (or to be billed) to the airlines for the last three fiscal years are as follows: FYE08 FYE09 FYE10 Assets: (1) (1) Current Assets $ 69,441 $44,298 $41,104 FYE08 FYE09 FYE10(4) Non-Current: Investments 149,485 155,538 130,933 Signatory Landing Fee(2) $1.46 $1.88 $1.90 Capital, Net 671,993 675,880 678,866 Terminal Rental Rate $26.31/sf $30.10/sf $30.39/sf Bond Issue Costs, Net 3,528 3,293 2,951 Terminal Apron Rental $208.92/lf $218.57/lf $212.80/lf Passenger Boarding Bridge(3) $1,361/mo $1,619/mo $1,797/mo Total Assets $894,44 7 $8 7 9,009 $853,853
(1) actual settlement rates Liabilities: (2) per 1,000 lbs. of aircraft landed weight Current Liabilities $ 39,747 $44,498 $ 36,965 (3) per boarding bridge (4) projected settlement rates Long-Term 35 7 ,362 339,521 323,311 Total Liabilities 397,109 384,019 360,276 Landing fees and terminal rental rates for non-signatory airlines are Net Assets: Invested in Capital, Net of Debt 312,855 337,911 344,927 assessed at 125 percent of the established rates. Restricted 74,527 62,632 5,847 Unrestricted 109,956 94,446 2,804
Total Net Assets 49 7 ,338 494,989 493,5 77 Capital Assets
Net capital assets increased in FYE10 by $3.0 million comprising Total Liabilities and Net Assets $894,447 $879,009 $853,853
a $60.9 million increase in capital assets net of $57.9 million in In FYE10, total assets decreased by $25.2 million to approximately depreciation on capital assets. Capital assets purchased or con- $853.9 million largely due to a reduction in longer term investments. structed in FYE10 include the Tee Hangar Complex, snow removal Investments are reported in this comprehensive annual financial equipment storage building, construction of the Runway 1/19 safety report at their market value. In FYE09, total assets decreased by area, rehabilitation of taxiways, the purchase of five buses for the $15.4 million largely due to a reduction in passenger enplane- transportation of airport users to and from the terminals and sev- ments. eral operational vehicles. Capital assets retired in FYE10 include various buses and other machinery and equipment. Net capital assets increased in FYE09 by $3.9 million comprising a $63.8 mil- Airline Rates and Charges lion increase in capital assets net of $59.9 million in depreciation Airline rates and charges (R&Cs) represent the fees received by on capital assets. Purchases and construction of capital assets in the Department from the airlines for their use of the airport's facili- FYE09 included seven buses, police and operational vehicles, con- ties and for the privilege of operating at Kansas City International struction of the inline baggage screening facility, and the rehabilita- Airport. The calculation of the R&Cs are based on the provisions of tion of various taxiways. the Airline Use and Lease Agreement (the Agreement). It is impor- tant to maintain low airline rates and charges in order to remain cost-competitive. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 29 Fiscal Years Ended April 30, 2010 and 2009
Passenger Facility Charges Request for Information Passenger Facility Charges (PFC) are fees authorized by the This financial report is designed to provide the Department's man- Federal Aviation Administration that are charged to enplaning agement, investors, creditors and customers with a general overview passengers. The fees are used to finance eligible airport-related of the Kansas City Airports Fund's finances and to demonstrate the projects. Kansas City International Airport is currently authorized Department's accountability for the funds it receives and expends. at $404.1 million with the current fee set at $4.50 per enplaned For additional information about this report, please contact the passenger. In FYE10, PFC revenue increased $373 thousand. In undersigned at Kansas City International Airport, P. O. Box 20047, FYE09, PFC revenue decreased $3.7 million due to the 14.3 percent Kansas City, Missouri 64195-0047. decrease in enplanements. (Please see note 11 and the Compliance Section of this report for additional details.) This report is respectfully submitted by,
Historical PFC revenue on an accrual basis for the last three fiscal years is as follows:
FYE08 $23,822,136 FYE09 20,159,368 Eric B. Clevenger, CPA FYE10 20,532,775 Deputy Director/Finance and Accounting
Customer Facility Charges A Customer Facility Charge (CFC) of $3.00 per transaction day on rental cars was implemented on January 1, 2001 to fund the debt service associated with the design, engineering and construction of the new consolidated rental car facility. In FYE10, CFC revenues decreased $731 thousand, or 11.8 percent. In FYE09, CFC revenues decreased $639 thousand, or 9.4 percent, as a result of the 14.3 percent drop in enplanements.
CFC revenues earned on an accrual basis for the last three fiscal years are as follows:
FYE08 $6,809,736 FYE09 6,170,584 FYE10 5,439,585 Financial Section 30 Financial Statements
Statements of Net Assets April 30, 2010 and 2009
FYE10 FYE09 ASSETS
Current Assets: unrestricted Assets: Cash and Cash Equivalents $4,738,391 $ 4,866,335 Investments 9,705,338 11,300,014 Accounts Receivable 5,853,418 5,407,330 Allowance for Doubtful Accounts (300,831) (453,150) Grants Receivable 1,357,870 3,998,986 Interest Receivable 492,638 678,613 Prepaid insurance and Other 767,862 722,869 Inventories 830,235 7 90,889 Total Unrestricted Assets 23,444,921 27,311,886
Restricted Assets: Cash and Cash Equivalents 4,389,809 3,888,913 Investments 9,451,931 9,511,337 Accounts Receivable 3,409,605 3,149,678 Allowance for Doubtful Accounts (64,482) (120,885) Interest Receivable 4 7 2,065 55 7 ,4 7 6 Total Restricted Assets 1 7 ,658,928 16,986,519 Total Current Assets 41,103,849 44,298,405
Non-Current Assets: Investments: unrestricted 66,863,011 85,419,123 Restricted 64,069,549 7 0,118,583 Total Investments 130,932,560 155,537,706 Capital Assets: Land (Non-Depreciable) 37,861,553 37,861,553 Construction in Progress (Non-Depreciable) 32,927,911 43,726,101 Buildings, Infrastructure and Equipment 1,224,140,815 1,154,213, 7 6 7 1,294,930,279 1,235,801,421 Accumulated Depreciation (616,064,598) (559,921,88 7 ) Total Capital Assets 678,865,681 675,879,534
Bond Issue Costs, Net of Accumulated Amortization of $1,994,404 and $1, 7 66,22 7 at April 30, 2010 and 2009, respectively 2,951,366 3,293,250 Total Non-Current Assets 812, 7 49,60 7 834, 7 10,490
Total Assets $853,853,456 $879,008,895
See notes to the financial statements. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 31 Fiscal Years Ended April 30, 2010 and 2009
FYE10 FYE09 LIABILITIES and NET ASSETS
Current Liabilities: Payable from Unrestricted Assets: Accounts and Retainages Payable $ 10,163,097 $ 13,212,672 Accrued Payroll, Vacation and Sick Leave 936,184 1,916,872 Security Deposits 303,506 305,627 Prepaid Lease Revenue 3,267,569 3,800,515 Accrued Claims Liability 416,3 7 4 425, 7 52 Total Current Liabilities Payable from Unrestricted Assets 15,086,730 19,661,438
Payable from Restricted Assets: Accounts and Retainages Payable 665,158 3,187,204 Matured Bonds and Coupons 299,373 299,373 Accrued interest and Fiscal Agent Fees 2,268,357 2,410,380 Bonds Payable, current portion 18,645,000 18,940,000 Total Current Liabilities Payable from Restricted Assets 21,8 77 ,888 24,836,95 7 Total Current Liabilities 36,964,618 44,498,395
Non-Current Liabilities: Accrued Payroll, Vacation and Sick Leave 1,537,547 1,577,794 Pension Liability 2,193,069 863,441 Other Post Employment Benefit Obligation 3,711,067 2,308,398 Accrued Claims Liability 1,048,137 1,071,748 Bonds Payable, net of current portion 313,755,000 332,400,000 unamortized Bond Discount, Premium and Deferred Refunding Charge 1,066,625 1,299,802 Total Non-Current Liabilities 323,311,445 339,521,183 Total Liabilities 360,276,063 384,019,578
Net Assets: Invested in Capital Assets, net of related debt 344,926,785 337,911,215 Restricted: Principal and Interest 22,563,833 12,496,816 Deferred Maintenance and Replacement 750,000 750,000 Airline Operations and Maintenance Reserve 13,308,864 13,113,721 Reserve for Law Enforcement 76,324 57,940 Reserves for Construction and Debt Service 39,14 7 ,969 36,213,813 Total Restricted Net Assets 75,846,990 62,632,290
u nrestricted 7 2,803,618 94,445,812 Total Net Assets 493,577,393 494,989,317
Total Liabilities and Net Assets $853,853,456 $879,008,895
See notes to the financial statements. Financial Section 32 Financial Statements
Statements of Revenues, Expenses and Changes in Net Assets For the years ending April 30, 2010 and 2009
FYE10 FYE09 Operating Revenues: Terminal and Aprons $11,613,273 $ 13,091,491 Airfield 14,033,642 13,429,590 Parking 40,059,593 40,303,290 Rental Car 9,825,488 10,891,442 Transportation Facility Charges 3,737,492 4,117,922 Concessions 2,870,364 3,252,467 Property Rental 13,866,117 16,130,905 Other 7 32,442 866,849 Total Operating Revenues 96,738,411 102,083,956
Operating Expenses: Salaries, Wages and Employee Benefits 31,199,724 30,198,871 Contractual Services 44,728,434 44,689,158 Commodities 3,925,026 3, 7 94,294 Total Operating Expenses before Depreciation and Amortization 9,853,184 7 8,682,323
Operating Income before Non-Cash Operating Expenses 16,885,227 23,401,633
Non-Cash Operating Expenses: Depreciation 50,896,066 52,611,920 Depreciation–Grant Proceeds 6,982,277 7,286,933 Amortization 341,883 366,0 7 6 Total Non-Cash Operating Expenses 58,220,226 60,264,929
Total Operating Loss (41,334,999) (36,863,296)
Non-Operating Revenues: Earnings on Cash and Investments 3,171,445 7,686,690 Passenger Facility Charge 20,532,775 20,159,368 Customer Facility Charge 5,439,585 6,170,584 Operating Grant Revenue 315,569 290,638 Other 520,002 202,0 7 9 Total Non-Operating Revenues 29,979,376 34,509,359
Non-Operating Expenses: Interest 16,546,951 17,680,222 Other 2 7 5, 7 04 226,806 Total Non-Operating Expenses 16,822,655 1 7 ,90 7 ,028
Total Non-Operating Revenues, net 13,156,721 16,602,331
Loss before Capital Contributions (28,178,278) (20,260,965)
Capital Contributions 26, 7 66,354 1 7 ,912,603
Change in Net Assets (1,411,924) (2,348,362)
Total Net Assets–Beginning of Year 494,989,31 7 49 7 ,33 7 ,6 7 9
Total Net Assets–End of Year $493,577,393 $494,989,317
See notes to the financial statements. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 33 Fiscal Years Ended April 30, 2010 and 2009
Statements of Cash Flows For the years ending April 30, 2010 and 2009
FYE10 FYE09
Cash Flows from Operating Activities: Cash received from providing services $95,226,126 $ 104,578,665 Cash paid to employees, including benefits (29,488,362) (28,402,760) Cash paid to suppliers (51,862,2 7 8) (4 7 ,36 7 ,401) Cash provided by Operating Activities 13,875,486 28,808,504
Cash Flows from Non-Capital Financing Activities: Proceeds from operating grants 315,569 290,638 Cash provided by Non-Capital Financing Activities 315,569 290,638
Cash Flows from Capital and Related Financing Activities: Paid debt issue costs - (131,522) Purchase of capital assets (2,540,502) (4,410,598) Construction of capital assets (60,506,948) (57,212,465) Proceeds from Capital Debt Issuance - 29,520,843 Capital Debt Refunded - (29,495,000) Principal paid on capital debt (18,940,000) (18,395,000) Interest paid on capital debt (16,918,686) (17,981,773) Fiscal agent fees paid (3,465) (2,331) Passenger facility charges 20,532,775 20,159,368 Customer facility charges 5,439,585 6,170,584 Proceeds from sales of capital assets 9,608 50,509 Capital contributions 29,40 7 ,4 7 0 1 7 , 7 44,515 Cash used in Capital and Related Financing Activities (43,520,163) (53,982,870)
Cash Flows from Investing Activities: Purchase of investments (110,718,723) (166,514,599) Proceeds from sales and maturities of investments 136,977,950 176,372,324 Interest received 3,442,833 8,1 7 6,186 Cash provided by Investing Activities 29,702,060 18,033,911
Net increase (decrease) in Cash and Cash Equivalents 372,952 (6,849,817)
Cash and Cash Equivalents at Beginning of Year 8, 7 55,248 15,605,065
Cash and Cash Equivalents at End of Year $9,128,200 $8,755,248
Reconciliation to Statements of Net Assets: Cash and Cash Equivalents: unrestricted $4,738,391 $ 4,866,335 Restricted 4,389,809 3,888,913 Cash and Cash Equivalents at End of Year $9,128,200 $8,755,248
See notes to the financial statements. Financial Section 34 Financial Statements
Statements of Cash Flows, continued
FYE10 FYE09
Reconciliation of operating loss to net cash provided by Operating Activities: Operating Loss $(41,334,999) $(36,863,296)
Adjustments to reconcile operating loss to net cash provided by Operating Activities: Depreciation and Amortization 58,220,226 60,264,930 Accounts Receivable (706,015) 2,119,640 Prepaid Insurance and Other (44,993) (31,646) Inventories (39,347) 28,760 Accounts Payable (3,388,660) 1,125,057 Accrued Payroll, Vacation and Sick Leave 1,711,362 1,796,111 Security Deposits (2,121) (6,275) Prepaid Lease Revenue (532,946) 478,860 Accrued Claims Liability (32,989) (6,120) Other 25,969 (9 7 ,51 7 ) Cash provided by Operating Activities $ 13,8 7 5,486 $ 28,808,504
Non-Cash Investing Activity: Increase (decrease) in fair value of investments $ (905,423) $ 141,303
See notes to the financial statements. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 35 Fiscal Years Ended April 30, 2010 and 2009
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICES
The Kansas City Airports Fund (the Fund) is a fund of and owned by the City of Kansas City, Missouri (the City). The Fund is utilized to account for the operations of the City’s two airports, the Kansas City International Airport (MCI) and the Charles B. Wheeler Downtown Airport (MKC). The financial statements present only the Fund and are not intended to present the financial position of the City and the changes in its financial position and cash flows for the years ended, in conformity with U.S. generally accepted accounting principles.
Basis of Accounting The City accounts for the Fund as a proprietary enterprise fund. The accompanying financial statements are prepared on the accrual basis of accounting, wherein revenues are recorded when earned and expenses are recorded when incurred.
Proprietary Accounting and Financial Reporting In accordance with Government Accounting Standards Board (GASB) Statement No. 20, Accounting and Financial Reporting for Proprietary Funds and Other Governmental Entities That Use Proprietary Fund Accounting, the Fund follows all GASB pronouncements, as well as all relevant pronouncements of the Financial Accounting Standards Board (FASB) issued on or before November 30, 1989, unless they conflict with or contradict GASB guidance.
Operating versus Non-operating The Fund distinguishes operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from the rental of property or utilization of airport facilities and infrastructure. Operating revenues also include the transportation facility charges which are used to operate the consolidated rental car facility transportation system.
Revenue Recognition Airfield fees – Based on the landed weight of the aircraft, airfield fees are principally landing fees generated from scheduled airlines and nonscheduled airlines, including charters. The fee structure is determined annually based on an agreement between the City and signatory airlines, which takes into account the Fund’s operating expenses and the total annual landed weight of aircraft. Fuel flowage fees, which are included in airfield fees, comprised 1.6 percent and 3.2 percent of the total airfield fees for FYE10 and FYE09, respectively. Airfield fees are recognized as part of operating revenues when the airline-related facilities are utilized.
Rents – Terminal and other space rent, parking, car rental rents and concessions are generated from airlines, parking structures and lots, food, rental cars, fixed base operators and other commercial tenants. Leases for the airlines are based on a cost recovery basis. Rental revenue is recognized over the life of the respective leases and concession revenue is recognized partially based on reported concession revenue and partially based on minimum rental guarantee.
Cash and Cash Equivalents The Fund’s cash and cash equivalents are cash on hand, demand deposits and short-term investments with original maturities of three months or less from date of acquisition.
Investments The Fund’s investments are maintained in the City’s pooled investments. All investments are reported at fair value. The fair value of market- able securities is based on quotations that are generally obtained from national securities exchanges. Where marketable securities are not listed on an exchange, quotations are obtained from brokerage firms or pricing services. Financial Section 36 Notes to Financial Statements
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICES, continued
Accounts Receivable Accounts receivable balances are reflected as unrestricted and restricted and are recorded at the invoiced amount. The allowance for doubt- ful accounts is the Fund’s best estimate of the probable losses in the existing accounts receivable balance. Restricted accounts receivable consists of Passenger Facility Charges and Customer Facility Charges that are either outstanding or have been accrued as of April 30, 2010 and 2009.
Inventories Inventories, consisting of machine parts, fuel and supplies, are valued at the lower of cost or market.
Capital Assets and Depreciation Capital assets are stated at cost and include assets funded by proceeds of revenue and general obligation bonds, grants and contributions. Normal maintenance and repairs are charged to expense as incurred. Renewals and betterments are capitalized when placed into service and are depreciated over the remaining estimated useful lives of the related properties.
At the time of retirement or other disposition of properties, the assets and related depreciation accounts are relieved of the amounts included therein and the resulting gain or loss is recognized.
The provision for capitalization and depreciation of capital assets is computed using the straight-line method over the following estimated useful lives: Useful Capitalization Life (yrs.) Threshold Building and Building Improvements 25 $100,000 Runway, Aprons and Roads 15 $25,000 Equipment 3–10 $5,000
Capitalization of Interest Interest costs incurred that relate to the acquisition or construction of capital assets acquired with debt are capitalized. The amount of interest to be capitalized is calculated by offsetting interest expense incurred from the date of the borrowing until completion of the project, with interest earned on invested idle debt proceeds over the same period. There was no capitalized interest in FYE2010 or in FYE2009.
Prepaid Revenue The Fund reports prepaid lease revenue on its statements of net assets when revenues have been received but not yet earned. In subsequent periods, when revenue recognition criteria are met, the liability for prepaid lease revenue is removed from the statements of net assets and the revenue is recognized.
Original Bond Issue Discount, Premium and Deferred Refunding Charge Original bond issue discount, premium and deferred refunding charges on long-term indebtedness are amortized using the straight-line basis over the life of the debt to which it relates.
Contributed Capital Contributions of capital assets received from other entities, including those from other City funds, grants and assistance received from other governmental units for the acquisition of capital assets, are recorded as capital contributions. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 37 Fiscal Years Ended April 30, 2010 and 2009
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICES, continued
Accounts and Retainages Payable Accounts payable and retainage balances are reflected as unrestricted and restricted. Restricted accounts and retainages payable consist of invoices and retainage withheld from construction payments that are to be paid from bond proceeds or other restricted assets that were either outstanding or have been accrued as of April 30, 2010 and 2009.
Vacation and Sick Leave Benefits Under the terms of the City’s personnel policy, city employees are granted vacation and sick leave in varying amounts. Vacation is accumulated at an annual rate of 10 to 20 days, depending on the employee’s length of service. Sick leave is accumulated at the rate of 3.7 hours per two-week pay period. The maximum amount of vacation that may be carried forward, which is accrued in the Fund, is two times the amount earned in a year. Sick leave with pay may be accumulated up to a limit of 3,000 hours. Upon separation from service, employees may convert accrued sick leave at the ratio of four hours of sick leave to one hour of vacation leave credit. Retiring employees 55 years or older with at least 25 years of creditable service; employees who are to receive a line-of-duty disability pension; employees who qualify for a City pension and retire with a normal retirement, take early retirement at age 60 or thereafter or die are entitled to sick leave credit at the rate of two hours of sick leave to one hour of vacation leave credit.
Interfund Payments Interfund payments consist primarily of payments to the City’s general fund for administrative, data processing and accounting services, as well as payments for fire operation services. These charges are recorded in the contractual services section of the statements of revenues, expenses and changes in fund net assets. A summary of the administrative service charge, fire protection service charge and Metropolitan Ambulance Services Trust (MAST) charge for the previous two fiscal years are as follows: Administrative Fire Protection Service Charge Service Charge MAST
FYE10 $5,188,122 $2,349,616 $456,619 FYE09 4,988,579 2,661,490 456,369
Non-operating Revenue Passenger Facility Charges – In 1990, Congress approved the Aviation Safety and Capacity Expansion Act, which authorized domestic airports to impose a passenger facility charge (PFC) on enplaning passengers. PFC’s may be used for airport projects that meet at least one of the following criteria: preserve or enhance safety, security or capacity of the national air transportation system; reduce noise or mitigate noise impacts resulting from an airport or provide opportunities for enhanced competition between and/or among carriers.
Customer Facility Charges – In January 2001, a customer facility charge user fee of $3.00 per rental day was imposed on each rental of a pas- senger vehicle by a customer from a rental car agency. These fees are for the purpose of paying a portion of the cost of constructing, equipping and financing a consolidated rental car facility and for the payment of debt service on revenue bonds issued for this project.
Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make esti- mates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Restricted Net Assets When both restricted and unrestricted net assets are available for use, it is the Fund’s policy to use restricted net assets first, then unrestricted net assets as they are needed. Financial Section 38 Notes to Financial Statements
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICES, continued
Reclassifications Certain 2009 reclassifications have been made to conform to the 2010 presentation. The reclassifications had no effect on the changes in net assets.
Adoption of New Accounting Pronouncements Effective May 1, 2009, the City adopted GASB Statement No. 52, Land and Other Real Estate Held as Investments by Endowments (GASB Statement No. 52). This statement establishes consistent standards for the reporting of land and other real estate held as investments by essentially similar entities. It requires endowments to report their land and other real estate investments at fair value.
New Accounting Pronouncements Not Adopted In June 2007, the GASB issued Statement No. 51, Accounting and Financial Reporting for Intangible Assets (GASB Statement No. 51). This statement establishes accounting and financial reporting requirements for intangible assets, thereby enhancing the comparability of the accounting and financial reporting of such assets among state and local governments. The City will implement GASB Statement No. 51 beginning with the year ended April 30, 2011.
In June 2008, the GASB issued Statement No. 53, Accounting and Financial Reporting for Derivative Instruments (GASB Statement No. 53). This statement is intended to improve how state and local governments report information about derivative instruments (financial arrange- ments used by governments to manage specific risks or make investments) in their financial statements. The statement specifically requires governments to measure most derivative instruments at fair value in their financial statements. The guidance in this statement also addresses hedge accounting requirements and is effective for the City for the year ending April 30, 2011.
In March 2009, the GASB issued Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions (GASB Statement No. 54). The objective of this Statement is to enhance the usefulness of fund balance information by providing clearer fund balance clas- sifications that can be more consistently applied and by clarifying the existing governmental fund type definitions. This Statement establishes fund balance classifications that comprise a hierarchy based primarily on the extent to which a government is bound to observe constraints imposed upon the use of the resources reported in governmental funds. The City will implement GASB Statement No. 54 beginning with the year ended April 30, 2012.
In December 2009, the GASB issued Statement No. 57, OPEB Measurements by Agent Employers and Agent Multiple-Employer Plans (GASB Statement No. 57). The objective of this Statement is to address issues related to the use of the alternative measurement method and the frequency and timing of measurements by employers that participate in agent multiple-employer other postemployment benefit (OPEB) plans (that is, agent employers). The City will implement GASB Statement No. 57 beginning with the year ended April 30, 2013.
In December 2009, the GASB issued Statement No. 58, Accounting and Financial Reporting for Chapter 9 Bankruptcies (GASB Statement No. 58). The objective of this Statement is to provide accounting and financial reporting guidance for governments that have petitioned for protection from creditors by filing for bankruptcy under Chapter 9 of the United States Bankruptcy Code. It requires governments to remeasure liabilities that are adjusted in bankruptcy when the bankruptcy court confirms (that is, approves) a new payment plan. The City will implement GASB Statement No. 58 beginning with the year ended April 30, 2011.
In June 2010, the GASB issued Statement No. 59, Financial Instruments Omnibus (GASB Statement No. 59). The objective of this Statement is to update and improve existing standards regarding financial reporting and disclosure requirements of certain financial instruments and external investment pools for which significant issues have been identified in practice. The City will implement GASB Statement No. 59 begin- ning with the year ended April 30, 2012. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 39 Fiscal Years Ending April 30, 2010 and 2009
Note 2. DEPOSITS AND INVESTMENTS
Deposits The City maintains a cash and investment pool that is available for use by all funds. The pool is comprised of demand and time deposits, repurchase agreements and other investments with maturities of less than five years. At April 30, 2010, the carrying amount (book value) of the City’s deposits, including certificates of deposit and the collateralized money market account was approximately $42,216,000 which was covered by federal depository insurance or by collateral held by the City’s agents under joint custody agreements in accordance with the City’s administrative code except for the deposits at one bank summarized under Custodial Credit Risk. A difference exists between book and bank balances of $13,436,768 due to deposits in transit and other reconciling items.
Investments – Pooled and Non-Pooled The City is empowered by City Charter to invest in the following types of securities:
1. United States Treasury Securities (Bills, Notes, Bonds and Strips). The City may invest in obligations of the United States government for which the full faith and credit of the United States are pledged for the payment of principal and interest.
2. United States Agency/GSE Securities. The City of Kansas City, Missouri may invest in obligations issued or guaranteed by any agency of the United States Government and in obligations issued by any government sponsored enterprise (GSE) which have a liquid market and a readily determinable market value that are described as follows:
(a) U.S. Govt. Agency Coupon and Zero Coupon Securities.
(b) U.S. Govt. Agency Callable Securities. Restricted to securities callable at par only.
(c) U.S. Govt. Agency Step-Up Securities. The coupon rate is fixed for an initial term. At coupon date, the coupon rate rises to a new, higher fixed interest rate.
(d) U.S. Govt. Agency Floating Rate Securities. Restricted to coupons with no interim caps that reset at least quarterly and that float off of only one index.
(e) U.S. Govt. Agency Mortgage-Backed Securities (MBS, CMO, Pass-Thru Securities). Restricted to securities with final maturities of five (5) years or less or have the final projected payment no greater than four (4) years when analyzed in a +300 basis point interest rate environment. Restricted to obligations of FNMA, FHLB, FHLMC and GNMA only.
3. Repurchase Agreements. The City may invest in contractual agreements between the City and commercial banks or primary government securities dealers. The Bond Market Association’s guidelines for the Master Repurchase Agreement will be used and will govern all repurchase agreement transactions. All repurchase agreement transactions will be either physical delivery or tri-party.
4. Bankers’ Acceptances. The City may invest in bankers’ acceptances issued by domestic commercial banks possessing the highest rating issued by Moody’s Investor Services, Inc. or Standard and Poor’s Corporation.
5. Commercial Paper. The City may invest in commercial paper issued by domestic corporations, which has received the highest rating issued by Moody’s Investor Services, Inc. or Standard and Poor’s Corporation. Eligible paper is further limited to issuing corporations that have total assets in excess of five hundred million dollars ($500,000,000) and are not listed on Credit Watch with negative implications by any nationally recognized rating agency at the time of purchase. In addition, the City’s portfolio may not contain commercial paper of any one corporation, the total value of which exceeds 2% of the City’s aggregate investment portfolio.
6. Any full faith and credit obligations of the State of Missouri rated at least A or A2 by Standard and Poor’s or Moody’s. Financial Section 40 Notes to Financial Statements
Note 2. DEPOSITS AND INVESTMENTS, continued
7. Any full faith and credit obligations of any county in which the city is located rated at least AA or Aa2 by Standard and Poor’s or Moody’s. 8. Any full faith and credit obligations of any school district in Kansas City, Missouri rated at least AA or Aa2 by Standard and Poor’s or Moody’s.
9. Any full faith and credit obligations or revenue bonds of the City of Kansas City, Missouri rated at least AA or Aa2 by Standard and Poor’s or Moody’s.
10. Any municipal obligation as defined in (6), (7), (8) or (9) that is not rated but either pre-refunded or escrowed to maturity with U.S. Treasury Securities as to both principal and interest.
Interest Rate Risk Interest rate risk is the risk that the fair value of the City’s investments will decrease as a result of an increase in interest rates. As a means of limiting its exposure to fair value losses arising from rising interest rates, the City’s investment policy limits the final maturity on any secu- rity owned to a maximum of five years. In addition, the City compares the weighted average maturity of its portfolio to the weighted average maturity of the Merrill Lynch 1-3 year Government/Agency index, and relative to the index, may decrease the weighted average maturity of the portfolio during periods of rising interest rates or increase it during periods of declining rates. As of April 30, 2010, the City had the following investments and maturities (amounts are in thousands):
Investment Maturities (In Years) Fair Less Weighted Investment Type Value Than 1 1 - 2 2 - 3 3 - 5 Average Pooled Investments: US Treasury Bills $ 9,999 $ 9,999 $ - $ - $ - 0.07 US Treasury Notes/Bonds 152,387 114,222 23,066 - 15,099 1.13 US Agency Discounts 9,985 9,985 - - - 0.55 US Agencies - Noncallable 351,363 106,502 75,386 87,731 81,744 1.90 US Agencies - Callable 181,164 39,341 4,831 13,010 123,982 3.23 Mortgage-Backed Agency 33,112 11,636 7,788 13,668 - 1.48 Total Pooled 738,010 291,685 111,071 114,429 220,825 2.00
Non-Pooled Investments: US Agencies - Noncallable 75,596 40,646 24,205 10,745 - 0.96 US Agencies - Callable 25,175 13,205 - - 11,970 2.45 Total Non-Pooled 100,771 53,851 24,205 10,745 11,970 1.33
GRAND TOTAL $838,781 $345,536 $135,276 $125,174 $232,795 1.92
The Fund’s allocation of pooled and non-pooled investments as of April 30, 2010, was $149,014,072 and $1,075,757, respectively. Deposits totaled $9,128,200. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 41 Fiscal Years Ending April 30, 2010 and 2009
Note 2. DEPOSITS AND INVESTMENTS, continued
As of April 30, 2009, the City had the following investments and maturities (amounts are in thousands):
Investment Maturities (In Years) Fair Less Weighted Investment Type Value Than 1 1-2 2-3 3-5 Average Pooled Investments: u.S. Treasury Notes/Bonds $136,829 $108,059 $ 28,770 $ - $ - 0.82 u.S. Agencies–Noncallable 301,594 1,403 104,267 97,803 28,121 1.77 u.S. Agencies–Callable 186,573 114,389 31,217 - 40,967 1.55 Mortgage-Backed Agency 66,019 29,269 14,496 9,913 12,341 1.53
Total Pooled 691,015 323,120 178,750 107,716 81,429 1.50 Non-Pooled Investments: u.S. Agencies–Noncallable 108,919 42,019 41,622 14,434 10,844 1.40 u.S. Agencies–Callable 52,231 29,24 ,853 2,206 12,925 1.88
Total Non-pooled 161,150 1,266 49,475 16,640 23,769 1.55
GRAND TOTAL $ 852,165 $394,386 $228,225 $124,356 $105,198 1.51
The Fund’s allocation of pooled and non-pooled investments as of April 30, 2009, was $174,234,833 and $2,114,224, respectively. Deposits totaled $8,755,248.
Callable Agency Securities. The City actively monitors its callable bond portfolio with respect to probability of call relative to market rates of interest. As of April 30, 2010 and 2009, the total fair value of the city’s callable bond portfolio (pooled and non-pooled) is $206,338,625 and $238,804,679, respectively.
Mortgage-Backed Securities. The City has invested in collateralized mortgage obligation securities issued by the Federal Home Loan Mortgage Corporation (FHLMC), the Federal National Mortgage Association (FNMA) and the Federal Home Loan Banks (FHLB). Details of those securities as of April 30, 2010 are as follows:
FHR 3388 CG, $20,000,000 original par value. The security was purchased on November 30, 2007, and has a stated final maturity of December 15, 2011. The security has a fixed coupon rate of 5.00% and pays principal and interest monthly. Based on current prepay- ment speeds using industry-standard modeling, the City’s principal amount will be fully retired in June 2010. At April 30, 2010, the security had a remaining face value of $627,676, a book value of $627,676 and a fair market value of $627,676.
FHR 2760 EB, $10,000,000 original par value. The security has a fixed coupon rate of 4.50% and pays principal and interest monthly. The security was purchased on August 13, 2008, and although has a stated final maturity of September 15, 2016, the security is the first tranche to begin receiving principal payments. Based on current prepayment speeds using industry-standard modeling, the City’s principal amount will be fully retired in October 2011. At April 30, 2010, the security had a remaining face value of $4,483,713, a book value of $4,483,713 and a fair market value of $4,595,985.
FHLB 9M-2012 A, $14,325,000 original par value. The security has a fixed coupon rate of 4.72% and pays principal and interest monthly. The security was purchased on September 16, 2008, and has a stated final maturity of September 20, 2012. Based on current prepay- ment speeds using industry-standard modeling, the City’s principal amount will be fully retired in September 2012. At April 30, 2010, the security had a remaining face value of $7,944,955, a book value of $7,954,955 and a fair market value of $8,292,547. Financial Section 42 Notes to Financial Statements
Note 2. DEPOSITS AND INVESTMENTS, continued FHR 3125 AB, $15,000,000 original par value. The security has a fixed coupon rate of 5.375% and pays principal and interest monthly. The security was purchased on October 31, 2008, and has a stated final maturity of December 15, 2013. Based on current prepayment speeds using industry-standard modeling, the City’s principal amount will be fully retired in June 2012. At April 30, 2010, the security had a remaining face value of $7,477,567, a book value of $7,477,567 and a fair market value of $7,721,485.
FHLB 9W-2012 1, $23,500,000 original par value. The security has a fixed coupon rate of 4.77% and pays principal and interest monthly. The security was purchased on December 29, 2008, and has a stated final maturity of September 20, 2012. Based on current prepay- ment speeds using industry-standard modeling, the City’s principal amount will be fully retired in September 2012. At April 30, 2010, the security had a remaining face value of $11,283,838, a book value of $11,341,917 and a fair market value of $11,874,434.
Credit Risk Credit risk is the risk that the City will not recover its investments due to the ability of the counterparty to fulfill its obligation. In order to prevent over concentration by investment type and thereby mitigate credit risk, the City’s Investment Policy provides for diversification of the portfolio by investment type as follows:
Investment Type Maximum uS Treasury Securities and Government Guaranteed Securities 100% Collateralized Time and Demand Deposits 100% uS Government Agency and GSE Securities 80% Collateralized Repurchase Agreements 50% uS Agency Callable Securities 30% Commercial Paper 30% Bankers Acceptances 30% Qualified Municipal Obligations 10%
As of April 30, 2010, the City had the following pooled and non-pooled investment balances which are rated by both Moody’s and Standard and Poor’s (amounts are in thousands): Moody’s/S&P Account/Investment Type Fair Value Notes Rating uS Treasury Securities $162,386 uS Gov Aaa/AAA uS Agency Securities 676,395 uS Agency Aaa/AAA Total $838,781
As of April 30, 2009, the City had the following pooled and non-pooled investment balances (amounts are in thousands):.
Moody’s/S&P Account/Investment Type Fair Value Notes Rating u.S. Treasury Securities $ 136,829 u.S. Gov Aaa/AAA u.S. Agency Securities 715,336 u.S. Gov Escrowed Aaa/AAA Total $852,165
Custodial Credit Risk Custodial credit risk is the risk that, in the event of the failure of the counterparty, the City will not be able to recover the value of its deposits, investments or collateral securities that are in the possession of an outside party (i.e., the City’s safekeeping institution).
The City’s investment policy required that all funds on deposit with any financial institution be secured with collateral securities in an amount equal to at least 102 percent of the deposit less any amount insured by the Federal Deposit Insurance Corporation (FDIC), or any other governmental agency performing a similar function. As of April 30, 2010, all deposits were adequately and fully collateralized except for the account at Bank of America. On April 30, 2010, the City received into its account at Bank of America an unexpected ACH credit in the amount City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 43 Fiscal Years Ending April 30, 2010 and 2009
NOTE 2. DEPOSITS AND INVESTMENTS, continued of $6,442,423 for the Revenue division. The resulting overnight balance of $8,735,134 was secured by $250,000 FDIC Insurance and col- lateral securities with a collateral value of $2,568,495, resulting in a collateral deficiency of ($5,916,639). The funds were immediately drawn down in the next business morning to return the account to a fully collateralized level.
The City’s investment policy requires that all investment securities be held in the City’s name in the City’s safekeeping account at its safekeep- ing institution, thereby mitigating custodial credit risk. As of April 30, 2010, all investment securities were in the City’s name in the City’s safe- keeping accounts at its safekeeping institutions. In addition, all collateral securities were in the City’s joint custody account(s) at the Federal Reserve Bank and were either US Treasury (US Government guaranteed) or US Agency (Aaa/AAA rated) obligations.
Concentration of Credit Risk In FYE10, more than 5 percent of the City’s investments are in the following U.S. Agency discount note/securities: Federal Farm Credit Bank, Federal Home Loan Bank, Federal Home Loan Mortgage Corporation and Federal National Mortgage Association. These investments are 11%, 40%, 12% and 14%, respectively, of the City’s total investments.
In our opinion, the debt securities issued by these agencies do not have an explicit government guarantee, but rather an implied guarantee, and therefore the City does not impose limits as to the concentration of any one agency. However, total agency securities in the portfolio are limited by the investment policy to 80% of the total portfolio value.
In FYE09, more than 5 percent of the City’s investments are in the following U.S. Agency discount note/securities: Federal Farm Credit Bank, Federal Home Loan Bank, Federal Home Loan Mortgage Corporation and Federal National Mortgage Association. These investments are 8%, 34%, 19% and 19%, respectively, of the City’s total investments.
Note 3. ALLOWANCE FOR DOUBTFUL ACCOUNTS
Changes in allowance for doubtful accounts for FYE10 and FYE09 are as follows: Beginning Bad Debt Ending Balance Expensed Write-Offs Balance
FYE10 $(574,035) $208,722 $ - $(365,313) FYE09 $(629,675) $ 55,640 $ - $(574,035)
The balance in the allowance account reflects probable losses in the respective accounts receivable balances based on analysis of individual customer accounts. Unrestricted and restricted allowance balances for FYE10 were $(300,831) and $(64,482), respectively; unrestricted and restricted allowance balances for FYE09 were $(453,150) and $(120,885), respectively.
Note 4. PREPAID EXPENSE
Changes in prepaid expense in FYE10 and FYE09 are as follows: Beginning Amounts Amounts Ending Balance Pre-Paid Expensed Balance
FYE10 $722,869 $1,398,466 $(1,353,473) $767,862 FYE09 $691,223 $1,305,758 $(1,274,112) $722,869
Prepaid expense balances include prepaid insurance premiums less any monthly amortized expense for airport and law enforcement liability insurance, property insurance and prepaid deposits for fingerprinting services. Financial Section 44 Notes to Financial Statements
Note 5. CAPITAL ASSETS
Capital asset activity for the years ended April 30, 2010 and 2009 is as follows: Retired/ FYE09 Additions Reclass Expensed FYE10 Capital Assets not being Depreciated: Land $ 37,861,553 $ - $ - $ - $37,861,553 Construction in Progress 43,726,101 58,332,016 (69,130,206) - 32,927,911
Total 81,587,654 58,332,016 (69,130,206) - 0,789,464
Other Capital Assets: Buildings 600,109,679 200,718 42,755,195 - 643,065,592 Infrastructure 462,634,908 - 26,372,969 - 489,007,877 Equipment 91,469,180 2,339,784 2,042 (1,743,660) 92,067,346
Total 1,154,213,767 2,540,502 69,130,206 (1,743,660) 1,224,140,815
Less Accumulated Depreciation: Buildings 201,567,890 22,889,509 - - 224,456,949 Infrastructure 283,263,951 25,309,900 - - 308,573,851 Equipment 75,090,046 9,687,412 - (1,743,660) 83,033,798
Total 559,921,887 57,886,371 - (1,743,660) 616,064,598
Other Capital Assets, net 594,291,880 (55,345,869) 69,130,206 - 608,0 7 6,21 7
Total Capital Assets $6 7 5,8 7 9,534 $2,986,14 7 $ - $ - $6 7 8,865,681
Retired/ FYE08 Additions Reclass Expensed FYE09 Capital Assets not being Depreciated: Land $ 37,861,553 $ - $ - $ - $37,861,553 Construction in Progress 32, 7 23,518 59,3 7 4,905 (48,3 7 2,322) - 43, 7 26,101 Total 70,585,071 59,374,905 (48,372,322) - 81,587,654 Other Capital Assets: Buildings 573,153,803 - 26,955,876 - 600,109,679 Infrastructure 441,756,762 - 20,878,145 - 462,634,908 Equipment 89,546,395 4,410,598 538,301 (3,026,114) 91,469,180 Total 1,104,456,960 4,410,598 48,372,322 (3,026,114) 1,154,213,767
Less Accumulated Depreciation: Buildings 180,160,637 21,407,253 - - 201,567,890 Infrastructure 258,998,380 24,265,571 - - 283,263,951 Equipment 63,890,132 14,226,028 - (3,026,114) 5,090,046 Total 503,049,149 59,898,852 - (3,026,114) 559,921,887
Other Capital Assets, net 601,40 7 ,811 (55,488,254) 48,3 7 2,322 - 594,291,880,
Total Capital Assets $6 7 1,992,882 $ 3,886,651 $ - $ - $6 7 5,8 7 9,534 City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 45 Fiscal Years Ending April 30, 2010 and 2009
Note 5. CAPITAL ASSETS, continued
In FYE10, additions to construction in progress totaled $58,332,016, of which $8,115,979 was spent on rehabilitation of airfield lights, $1,272,685 was spent on the inline baggage screening system, $3,395,045 was for construction costs associated with the new Tee Hangar Complex at the Charles B. Wheeler Downtown Airport, $8,879,716 was for construction costs associated with the new Runway 1/19 safety area at the Charles B. Wheeler Downtown Airport, $3,926,801 was spent on construction of the new storage building for snow removal equip- ment, $4,801,552 was spent on the Commerce Center Development, $19,320,037 was spent on rehabilitating airfield pavement, roadways, runways and taxiways, and $8,620,201 was spent on various improvements to airport facilities.
Capital equipment purchases for FYE10 included $1,575,550 for five buses, $76,340 for three operational vehicles, $135,054 for a friction test system, $217,020 for a motorgrader, and $536,538 for various other tools and equipment.
Fixed assets reclassified from construction in progress totaled $69,130,206. The amount transferred to buildings and building improvements was $42,755,195, which included $18,534,573 for the Tee Hangar Complex at the Charles B. Wheeler Downtown Airport, $5,109,255 for the new addition to the fleet building, $7,023,626 for the new snow removal equipment storage building, $1,272,685 for additional costs associ- ated with the inline baggage screening system, and $10,815,056 for various building and leasehold improvements. The amount transferred to infrastructure was $26,372,969 and included $6,264,115 for airfield pavement repairs, $8,991,327 for Runway 1/19 safety area at the Charles B. Wheeler Downtown Airport, $8,288,077 for taxiway rehabilitation, $2,265,441 for roadway repairs, and $564,009 for various infrastructure improvements. The amount transferred to equipment was $2,042 which represented additional costs associated with the new airfield incinera- tor. A total of $1,743,660 was retired from the books in FYE10 which consisted of various vehicles, maintenance equipment and buses.
FYE09 activity included additions to construction in progress of $59,374,905, of which $14,661,452 was for construction costs associated with the new Tee Hangar Complex at the Charles B. Wheeler Downtown Airport, $3,205,954 was spent on the rental car facility, $9,052,656 was spent on the inline baggage screening system, $3,085,781 was spent on construction of a new snow removal equipment building, $6,299,736 was spent on the Commerce Center Development, $14,572,449 was spent on rehabilitation of bridges, roadways, runways and taxiways and $8,496,877 was spent on various improvements to airport facilities.
Capital equipment purchases for FYE09 included $2,106,895 for seven buses, $653,407 for thirty vehicles for police and operations, $942,983 for snow removal equipment, $354,935 for airfield maintenance equipment, $279,215 for tractors and mowers, $9,375 for cleaning and main- tenance equipment and $63,788 for various other tools and equipment.
Fixed assets reclassified from construction in progress in FYE09 totaled $48,372,322. The amounts transferred to buildings and building improvements was $26,955,876, which included $18,338,957 for inline baggage screening, $4,087,598 for the HVAC upgrade at the Charles B. Wheeler Downtown airport, $3,205,954 in additional costs for the consolidated rental car facility, and $1,323,367 for various building and lease- hold improvements. The amount transferred to infrastructure was $20,878,145 and included $17,586,391 for runway and taxiway rehabilitation costs, $3,075,334 for road and bridge repairs, and $216,420 in various infrastructure improvements. The amount transferred to equipment was $538,301 which included a new airfield incenerator and baggage equipment. A total of $3,026,114 in capital assets was retired from the books in FYE09 which consisted of various obsolete office and operating equipment. Financial Section 46 Notes to Financial Statements
Note 6. BOND ISSUE COSTS
Costs associated with the issuance of bonds are amortized over the life of their respective bonds. Issue costs and associated amortization of these costs at April 30, 2010 and 2009 are as follows:
Additions/ FYE09 Amortization Refunded Retired FYE10
Bond Issue Costs $5,059,477 $ - $ - $(113,707) $4,945,770 Accumulated Amortization (1, 7 66,22 7 ) (341,884) - 113, 7 0 7 (1,994,404) Total $ 3,293,250 $(341,884) $ - $ - $2,951,366
Additions/ Reclass FYE08 Amortization Refunded Expensed FYE09
Bond Issue Costs $ 5,348,968 $ 257,047 $ (364,384) $ (182,154) $ 5,059,477 Accumulated Amortization (1,821,165) (366,0 7 5) 238,859 182,154 (1, 7 66,22 7 ) Total $ 3,52 7 ,803 $( 109,028) $ (125,525) $ - $ 3,293,250
Note 7. CLAIMS LIABILITY
The Fund is exposed to various risks of loss related to torts; theft, damage and destruction of assets; errors and omissions; injuries to employ- ees and natural disasters. The Fund participates in the City’s self insurance programs for workers’ compensation and excess liability for auto. The City has purchased insurance to limit the exposure of workers’ compensation claims to $1,000,000 per occurrence for all claims occurring prior to fiscal year 1997, $500,000 for all claims originating in fiscal year 1997, $400,000 for all claims originating in fiscal year 1998, $2,000,000 for all claims originating in fiscal years 2003 through 2007, and $1,000,000 for all claims originating thereafter. The City’s excess liability policy covers torts, which are not barred by sovereign immunity. The policy has a $2,600,000 retention and a $5,000,000 loss limit. Current sovereign tort immunity statutes and law limit general liability and automobile claims exposure to a maximum of $378,814 per person and $2,525,423 per occurrence. Settled claims have not exceeded the self insurance retention in any of the past three fiscal years.
The Fund also maintains commercial insurance coverage for those areas not covered by the City’s self insurance programs, such as general liability, property, law enforcement and the Fund’s portion of the City-wide auto policy. Settled claims have not exceeded commercial insurance coverage for the past three years.
The claims liability for the Fund includes an estimate of claims incurred but not reported (IBNR), which was determined based upon historical claims experience. Activity in the Fund’s claims liability for the years ending April 30, 2010 and 2009 is summarized as follows:
Beginning Ending Portion Balance Additions Deductions Balance Current
FYE10 $1,497,500 $619,157 $(652,146) $1,464,511 $416,374 FYE09 $1,503,620 $530,129 $(536,249) $1,497,500 $425,752 City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 47 Fiscal Years Ending April 30, 2010 and 2009
Note 8. UNAMORTIZED BOND DISCOUNT, PREMIUM, AND DEFERRED REFUNDING CHARGE
Unamortized bond discount, premium, and deferred refunding charges at April 30, 2010 and 2009 are as follows:
FYE09 Additions Deletions Amortization FYE10
unamortized Bond Discount $ 990,859 $ - $ - $ (59,608) $ 931,251 unamortized Bond Premium (4,033,851) - - 24,634 (3,309,217) Deferred Charge on Refunding 1,743,190 - - (431,849) 1,311,341
Total $ (1,299,802) $ - $ - $ 233,1 77 $(1,066,625)
FYE08 Additions Deletions Amortization FYE09
unamortized Bond Discount $1,156,446 $ - $ (100,400) $ (65,186) $ 990,859 unamortized Bond Premium (3,370,610) (1,475,214) - 811,973 (4,033,851) Deferred Charge on Refunding 1,832,290 1,525,442 (1,004,566) (609,9 7 6) 1, 7 43,190
Total $ (381,874) $ 50,228 $(1,104,967) $ 136,811 $ (1,299,802)
Note 9. BONDS OUTSTANDING AND RESTRICTED ASSETS
Bonds Outstanding Bonds outstanding in the Fund at April 30, 2010 and 2009 are as follows: Coupon Original Yield Final FYE10 FYE09 Series Type Range (%) Issuance Range (%) Maturity Balance Balance
2001 PFC 5.00 - 5.00 140,000,000 3.23 - 5.32 Apr 2026 $ 108,485,000 $112,965,000 2003A GARB 3.60 - 5.75 6,955,000 2.75 - 4.75 Sep 2027 71,970,000 74,535,000 2003B GARB 4.25-5.375 53,055,000 4.12 - 4.29 Sep 2018 53,055,000 53,055,000 2004E GARB 3.00 - 5.25 25,835,000 2.00 - 4.27 Sep 2012 22,695,000 23,375,000 2005C1 CFC 5.00 - 5.25 57,020,000 4.25 - 5.40 Sep 2020 47,615,000 50,875,000 2005H2 GARB 4.00 - 5.00 19,615,000 3.10 - 3.55 Sep 2009 - 7,955,000 3 2008A GARB 4.00 - 5.00 28,580,000 2.65 - 3.81 Sep 2014 28,580,000 28,580,000 $332,400,000 $351,340,000
Less current portion (18,645,000) (18,940,000)
Non current portion $313, 7 55,000 $332,400,000 1 The 2005C Series bonds was a subordinated taxable issue. 2 The 2005H Series bonds refunded the 1995A Series bonds and were retired in FYE10. 3 The 2008A Series bonds refunded the 1997A Series bonds
Changes in bonds payable in FYE10 and FYE09 are as follows: FYE10 FYE09
Beginning Balance $351,340,000 $370,650,000 Less Principal Payments (18,940,000) (18,395,000) Less: Savings on Refund of 199 7 A Bonds - (915,000) Total Bonds Payable $332,400,000 $351,340,000 Less current portion (18,645,000) (18,940,000) Total Long Term Bonds Payable $313, 7 55,000 $332,400,000 Financial Section 48 Notes to Financial Statements
Note 9. BONDS OUTSTANDING AND RESTRICTED ASSETS, continued
The annual requirements to retire the bonds outstanding as of April 30, 2010 are as follows: Principal Interest Total
FYE11 $ 18,645,000 $ 15,961,764 $ 34,606,764 FYE12 19,555,000 15,007,140 34,562,140 FYE13 20,245,000 14,044,864 34,289,864 FYE14 25,270,000 12,949,358 38,219,358 FYE15 26,455,000 11,715,435 38,170,435 FYE16-20 126,975,000 38,288,251 165,263,251 FYE21-25 69,325,000 15,521,354 84,846,354 FYE26-30 25,930,000 1,667,736 27,597,736
Total $332,400,000 $125,155,901 $457,555,901
In September 2008, the City issued General Improvement Airport Revenue Bonds, Series 2008A, to refund the Series 1997A bonds. The total par amount for the refunding was $28,580,000 with an interest rate ranging from 4.00 percent to 4.92 percent. The bonds refunded $29,495,000 of the outstanding 1997A Series bonds with interest ranging from 5.30 percent to 5.50 percent. The net proceeds of $29,803,445 (after allocating $200,884 to the cost of issuance fund, $92,885 to the payment of underwriter discount, $2,858,000 to the Series 2008A Debt Service Reserve, receiving $1,475,214 from the reoffering premium and $2,900,000 from the Series 1997A Debt Service Reserve) were trans- ferred directly to the paying agent and used to redeem and pay the Series 1997A bonds. As a result, the liability for the Series 1997A bonds was removed from the financial statements in FY2009.
Restricted Assets Restricted accounts and special reserves as required by bond ordinances are reported on the accompanying statements of net assets as restricted assets and are as follows at April 30, 2010 and 2009:
Account Restricted Restricted Assets Net Assets Bond Reserve for Senior and Subordinate GARBs $12,858,000 $12,858,000 Airline Operations and Maintenance Reserve 13,308,864 13,308,864 Deferred Maintenance Reserve 750,000 750,000 Principal and Interest for Senior and Subordinate GARBs 11,974,190 9,705,833 Drug Enforcement Agency 76,324 76,324 Richards-Gebaur Proceeds 1,864,246 - Passenger Facility Charge 37,001,122 37,001,121 Customer Facility Charge 2,146,849 2,146,848 Other Restricted 1,276,817 - Interest Receivable 472,065 -
Total at April 30, 2010 $81,728,477 $75,846,990
Total at April 30, 2009 $ 87,105,102 $ 62,632,290
Under the terms of various ordinances enacted at issuance of revenue bonds, the Fund must maintain adequate insurance coverage, rates and fees sufficient to pay reasonable and proper operating and maintenance expenses and scheduled debt service requirements. The ordinances also establish priorities for the allocation of revenues. After meeting normal operating and maintenance expenses, all remaining monies are to be allocated to the following accounts in the order listed on the next page. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 49 Fiscal Years Ending April 30, 2010 and 2009
Note 9. BONDS OUTSTANDING AND RESTRICTED ASSETS, continued
Ordinances establish the priorities for the allocation of revenues and said allocation is to the following accounts in the order listed below:
Operation and Maintenance Account
Pay all current operation and maintenance expenses. Q
Airline O&M Reserve Account
Maintain $1,000,000 to pay for reasonable and proper operating and maintenance expenses of the airports. Q
Principal and Interest Account for Senior GARBs
Maintain funds to meet the maturing senior GARB bond principal and interest requirements. Q
Bond Reserve Account for Senior GARBs
Maintain senior GARB bond reserves. Q
Principal and Interest Account for Subordinate GARBs
Maintain fund to meet the maturing subordinate GARB bond principal and interest requirements. Q
Deferred Maintenance Reserve Account
Maintain funds to pay O&M expenses and unusual or extraordinary maintenance or repairs. Q
Extension and Bond Retirement Account
Accumulate all remaining funds in the Airport Fund account after the preceding deposits have been made to be used for any lawful purpose, including payments for capital purposes. Financial Section 50 Notes to Financial Statements
Note 9. BONDS OUTSTANDING AND RESTRICTED ASSETS, continued
At April 30, 2010 and 2009, the Fund was in compliance with the provisions of the ordinances relating to the maintenance of restricted accounts and special reserves and coverage requirements. Resources received with purpose restrictions are shown as restricted until the resources are used for the specified purpose.
Pledged Revenues The $176,300,000 of outstanding GARB bonds and the interest thereon are payable solely from the revenues derived from airport operations and have a first lien on these airport operation revenues. The GARB bonds were issued to fund all or a portion of the costs of constructing and rehabilitating general airport facilities, including but not limited to terminal buildings, ramps, runways, taxiways and parking facilities. The FY10 and FY09 annual principal and interest payments on these bonds were 19.0% and 17.9% of the total revenues, respectively. The outstanding principal and interest requirements through maturity total $235,282,834, and it is anticipated the remaining annual debt service payments will be between 15.0% and 20.0% of annual revenues.
The $47,615,000 of outstanding CFC bonds and the interest thereon are also payable solely from the revenues derived from airport operations, but are junior and subordinate with respect to the payment of principal and interest from the airport operation revenues and in all other respects to the outstanding senior GARB bonds. The CFC bonds were issued to fund the costs of constructing a consolidated rental car facility. The FY10 and FY09 annual principal and interest payments on these subordinate bonds, excluding the GARB debt service requirements, were 5.5% and 5.1% of the total revenues, respectively. The outstanding principal and interest requirements through maturity total $62,186,068 and it is antici- pated the remaining annual debt service payments on these subordinate bonds will be between 3.5% and 6.0% of annual revenues.
The $108,485,000 of outstanding PFC bonds issue and the interest thereon are payable solely from PFC revenues generated from the opera- tion of the airport. These bonds are not secured by any other revenues of the airport. The PFC bonds were issued to fund a portion of the costs of constructing and rehabilitating the airport terminals. The FY10 and FY09 annual principal and interest payments on these bonds were 49.3% and 50.4% of the total PFC revenues, respectively. The outstanding principal and interest requirements through maturity total $160,087,000 and it is anticipated the remaining annual debt service payments will be between 40.5% and 52.0% of annual PFC revenues.
Note 10. Legal Debt Margin
The Fund computes its legal debt margin for general obligation bonds ordinary indebtedness and additional indebtedness based on Sections 26(b) to (c) and 26(d) to (e), respectively, of the State Constitution of Missouri. The bonds issued for aviation purposes and subject to these financial statements are not subject to the legal debt margin of those State Constitution sections. Therefore, no legal debt margin computation is made for the bonds issued for aviation purposes.
Voted Authority for Issuance On August 2, 1988, the City held an election at which the qualified voters of the City approved the City’s issuance of up to $330,000,000 prin- cipal amount of airport revenue bonds to be payable solely from the revenues derived by the City from the operation of its airports, including all future improvements and extensions thereto, for the purpose of paying the cost of extending and improving the airports owned and operated by the City, including runways, terminal buildings and related facilities. On August 8, 2000, the voters approved an additional $395,000,000 of airport revenue bonds for improvements at the airports. As of April 30, 2010, the City has issued $330,000,000 of general airport revenue bonds payable from the 1988 authorization and $154,584,105 of the 2000 authorization. This exhausts the 1988 authorization and leaves $240,415,895 available from the 2000 authorization. The City intends to issue the balance of the authorization in future financing. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 51 Fiscal Years Ending April 30, 2010 and 2009
Note 11. PASSENGER FACILITY CHARGES
In 1990, the United States Congress enacted the Aviation Safety and Capacity Expansion Act ("ASCEA") of 1990, which allows public agencies controlling commercial service airports to charge eligible enplaning passengers at the airport a $1, $2 or $3 passenger facility charge, or PFC. In 2000, the U.S. Congress passed the Aviation Investment and Reform Act for the 21st Century ("AIR-21"), which allowed airports to levy a PFC of $4.00 or $4.50 per eligible enplaned passenger. In 2003, the Century of Flight Authorization Act of 2003, Public Law 108-176 ("Vision 100") was signed into law. Vision 100 extends the Airport Improvement Program ("AIP") through September 30, 2007.
The proceeds from PFCs are to be used to finance eligible airport-related projects that preserve or enhance safety, capacity or security of the national air transportation system, reduce noise from an airport that is part of such system or furnish opportunities for enhanced competition between or among air carriers.
Since the ASCEA authorization, the Fund has submitted a total of six applications. As of June 2005, approval was granted to increase the PFC collection rate from $3.00 to $4.50 per eligible enplaning passenger. As of January 2010, the Fund received approval from the Federal Aviation Administration (FAA) for new projects increasing collection authority to $404,116,203.
Note 12. USE and LEASE AGREEMENTS
The Fund has a new five-year Use and Lease Agreement (Agreement) with certain air carriers serving MCI (signatory carriers) effective through April 30, 2014. Pursuant to the Agreement, signatory air carriers have agreed to a guaranteed minimum amount of rentals and fees based on expected levels of use of airport facilities. Further, the Agreement provides the determination for the landing fees and apron, terminal and passenger boarding rents at MCI along with granting certain rights and privileges to air carriers, both passenger and cargo. The Agreement provides for an annual settlement, post fiscal year end close, whereby the rates and charges are recalculated using audited financial state- ments to determine any airline over/under payment. For the years ended April 30, 2010 and 2009, $509,978 and $(575,811), respectively, was due from and due to the airlines.
Minimum future rentals scheduled to be received on operating leases that have initial or remaining noncancelable terms in excess of one year for each of the next five years and thereafter at April 30, 2010 are as follows:
Amount
FYE11 $ 7,963,368 FYE12 ,488,379 FYE13 ,142,011 FYE14 6,733,677 FYE15 6,551,361 FYE16-20 25,491,932 FYE21-25 19,271,305 FYE26-30 10,272,291 FYE31-35 ,128,987 FYE36-40 1,875,312 FYE41-45 688,680 FYE46-50 183,648
Total $100, 7 90,951 Financial Section 52 Notes to Financial Statements
Note 13. BANKRUPTCY
Voluntary petition activities for U.S. Bankruptcy Chapter 11 proceedings are as follows: Prepetition Airline File Date Emergence Date Amount Owed ATA American Trans Air April 2, 2008 $ 3,569 Advantage Rent-A-Car December 8, 2008 $ 179,271
Note 14. EMPLOYEE RETIREMENT PLAN
The board of trustees of the Employees’ Retirement System of the City of Kansas City, Missouri (the Board) administers the Employees’ Retirement System of the City (the Employees’ Plan), a contributory, single-employer, defined benefit public employee retirement plan. The Board is responsible for establishing and amending plan provisions. The Board issues publicly available financial reports that include finan- cial statements and required supplementary information for the Employees’ Plan. The financial reports may be obtained by writing to The Retirement Division of the City of Kansas City, Missouri, 12th Floor, City Hall, 414 East 12th Street, Kansas City, Missouri 64106 or by calling (816) 513-1928.
The Employees’ Plan’s funding policy provides for periodic employer contributions at actuarially determined rates that, expressed as percent- ages of annual covered payroll, are sufficient to accumulate sufficient assets to pay benefits when due. The employer contributions are estab- lished by the Board. Level percentages of payroll employer contribution rates are determined using the individual entry age normal method.
As a condition of participation in the Employees’ Plan, members are required to contribute four percent of their salary to the Employees’ Plan. The Fund contributes the balance required to pay pensions and maintain the system on an actuarially sound basis. The Fund contributed the required amount for each of the past three years.
The city-wide pension plan summary for the last three fiscal years is as follows:
Actuarial Value Actuarial Accrued Funded (Unfunded) of Assets Liability Actuarial Liability
FYE10 $704,069,429 $966,779,322 $(262,709,893) FYE09 873,680,276 934,333,865 (60,653,589) FYE08 823,014,181 847,393,16 (24,378,986)
A summary of the Department’s participation in the pension plan based on payroll percentages for the above fiscal years is as follows:
Annual Required Pension Plan Percent Contribution (ARC) Contributions Contributed
FYE10 $2,193,069 $2,252,765 102.7% FYE09 2,096,134 2,245,93 107.2% FYE08 1,708,577 2,114,643 123.8% City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 53 Fiscal Years Ending April 30, 2010 and 2009
Note 15. OTHER POST EMPLOYMENT BENEFITS
In accordance with Government Accounting Standards Board (GASB) Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, (GASB 45) other post employment benefits (OPEB) are recorded in the financial statements as non-current accrued payroll on the statements of net assets and are included as an operating expense in salaries, wages and employee benefits on the statements of revenues, expenses and changes in net assets.
Plan Descriptions The City sponsors a single-employer, defined benefit healthcare plan that provides healthcare benefits to retirees and their dependents, includ- ing medical and pharmacy coverage. The City requires the retirees to pay 100% of the same medical premium charged to active participants. The rates being paid by retirees for benefits are typically lower than those for individual health insurance policies. The difference between these amounts is the implicit rate subsidy, which is considered OPEB under GASB 45.
Retirees and spouses have the same benefits as active employees. Retiree coverage terminates either when the retiree becomes covered under another employer health plan, or when the retiree reaches Medicare eligibility age which is currently age 65. Spousal coverage is avail- able until the retiree becomes covered under another employer health plan, attains Medicare eligibility age or dies.
Funding Policy GASB 45 does not require funding of the OPEB liability and at this time, the liability for the City is unfunded. Contributions are made to the plan on a pay-as-you-go basis.
For the year ended April 30, 2010, retirees receiving benefits contributed $4,948,269 for current premiums (approximately 59.3% of total aged adjusted premiums based on implied City contributions of $3,400,270), through their required contracted amount paid to Blue Cross Blue Shield of Kansas City for the plan of the retirees’s choosing. Total age adjusted premiums for the year were $8,348,639.
Annual OPEB Cost and Net OPEB Obligation The City’s annual OPEB cost is calculated on the annual required contribution (ARC) of the employer, an amount actuarially determined in accordance with the parameters of GASB Statement 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal costs each year and amortize any unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years. The following table shows the components of the City’s annual OPEB cost for the year, the amount actually contributed to the plan and changes in the City’s net OPEB obligation.
The Employee/Firefighter annual OPEB cost, the percentage of annual OPEB cost contributed to the plan, and the net OPEB obligation for 2010 and 2009 were as follows: Fiscal Year Annual Annual OPEB Net OPEB Ended OPEB Cost Cost Contributed Obligation 4/30/2010 $21,336,000 16.00% $50,440,022 4/30/2009 $21,988,000 15.00% $32,504,000
Funded Status and Funding Progress As of April 30, 2008, the most recent actuarial valuation date, the OPEB plan was 0.0% funded. The actuarial accrued liability for benefits was $208.6 million, and the actuarial value of assets was $0, resulting in an unfunded actuarial accrued liability (UAAL) of $208.6 million.
Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability of occur- rence of events far into the future. Examples include assumptions about future employment, mortality and the healthcare cost trend. Amounts Financial Section 54 Notes to Financial Statements
Note 15. OTHER POST EMPLOYMENT BENEFITS, continued determined regarding the funded status of the plan and the annual required contributions of the employer are subject to continual revision as actual results are compared with past expectations and new estimates are made about the future. A schedule of funding progress is presented in the City’s comprehensive annual financial report as required supplementary information following the notes to the financial statements and presents multi-year trend information over time relative to the actuarial accrued liabilities for benefits.
Actuarial Methods and Assumptions Projections of benefits for financial reporting are based on the substantive plan (the plan as understood by the employer and the plan mem- bers) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the employer and plan members to that point. The actuarial methods and assumptions used include techniques that are designed to reduce the effects of short-term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-term perspective of the calculations.
In the April 30, 2008, actuarial valuation, the individual entry age actuarial cost method was used. The actuarial assumptions included a 4.5 percent investment rate of return (net of administrative expenses), which is a blended rate of the expected long-term investment returns on plan assets (of which there are none) and on the employer’s own investments calculated based on the funded level of the plan at the valuation date, and an annual healthcare cost trend rate of 10 percent initially, reduced by decrements to an ultimate rate of 4.5 percent after eleven years. The actuarial value of assets was determined using techniques that spread the effects of short-term volatility in the market value of investments over a five year period. The UAAL is being amortized as a level percentage of projected payroll on an open basis. The remaining amortization period at April 30, 2008 was thirty years. City of KCMO Aviation Dept Annual Required Contribution (ARC) $ 21,336,470 $1,652,936
Contributions made: Net employer contributions 3,400,370 250,267
Change in net OPEB obligation 17,936,100 1,402,669
Net OPEB obligation, April 30, 2009 $32,503,922 $2,308,398 Net OPEB obligation, April 30, 2010 $50,440,022 $3,711,067
Note 16. NET ASSETS
Invested in capital assets, net of related debt at April 30, 2010 and 2009 are as follows:
FYE10 FYE09 Capital assets: Land $37,861,553 $ 37,861,553 Construction in Progress 32,927,911 43,726,101 Buildings 643,065,592 600,109,679 Infrastructure 489,007,877 462,634,908 Equipment 92,067,346 91,469,180
1,294,930,279 1,235,801,421 Less Accumulated Depreciation (616,064,598) (559,921,887)
Capital Assets, net 678,865,681 675,879,534 Bond Issuance Costs, net 2,951,366 3,293,250
Total Capital Assets 681,817,047 679,172,784 City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 55 Fiscal Years Ending April 30, 2010 and 2009
Note 16. NET ASSETS, continued
FYE10 FYE09 Less: Related Liabilities Current portion, Bonds Payable 18,645,000 18,940,000 Capital related liabilities 3,423,637 2,991,268 Bonds Payable, net of premium, discount and unspent proceeds 314,821,625 319,330,301
Total Liabilities 336,890,262 341,261,569
Invested in Capital Assets, net of related debt $344,926,785 $ 337,911,215
Restricted Net Assets at April 30, 2010 and 2009 are as follows: FYE10 FYE09 Restricted Assets: Cash and Cash Equivalents $4,389,809 $ 3,888,913 Investments 73,521,480 9,629,920 Accounts and Interest Receivable, Restricted 3,817,188 3,586,269
81,728,477 87,105,102 Less Liabilities from Restricted Assets Accounts and Retainages Payable 665,158 3,187,204 Debt related to unspent bond proceeds 2,947,972 18,875,228 Accrued Interest and Fiscal Agent Fees 2,268,357 2,410,380
5,881,487 24,472,812
Restricted Net Assets $75,846,990 $ 62,632,290
Note 17. COMMITMENTS
At April 30, 2010, the City had made purchase commitments, primarily for construction projects, on behalf of the Fund of approximately $41.9 million. These commitments will be funded by existing resources.
Note 18. CURRENT ECONOMIC CONDITIONS
The current protracted economic decline continues to present governments with difficult circumstances and challenges, which in some cases have resulted in large and unanticipated declines in the fair value of assets, governmental support, tax revenues, constraints on liquidity and difficulty obtaining financing. The financial statements have been prepared using values and information currently available to the Fund. In addition, given the volatility of current economic conditions, the values of assets and liabilities recorded in the financial statements could change rapidly, resulting in material future adjustments in allowances for receivables that could negatively impact the Fund’s ability to main- tain sufficient liquidity. Financial Section 56 Notes to Financial Statements
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Statistical Section Financial Trend Information these schedules contain trend information to show how the Department’s financial performance has changed over time. Schedule of Historical Net Assets and Cash Flows Information Schedule of Historical Revenues and Expenses Schedule of Statements of Cash Flows Schedule of Unrestricted and Restricted Cash and Investments
Revenue Capacity Information these schedules contain information to assess the Department’s most significant revenue sources. Schedule of Revenues, Expenses and Changes in Fund Net Assets by Facility Schedule of Grants Schedule of Highest Paying Customers Schedule of Most Popular Destinations Schedule of Non-Stop Destinations Schedule of Passenger and Cargo Airlines Schedule of Airline Service
Debt Capacity Information these schedules present information regarding the Department’s current levels of outstanding debt and its ability to issue addi- tional debt in the future. the tables represent continuing disclosure schedules required by bond ordinances.
Schedule of Ratios of Outstanding Debt, Debt Service and Debt Limits Table VI-11–Schedule of Historical GARB Debt Service Coverage Table IV-1–Schedule of Annual Passenger Enplanements Table IV-3–Schedule of Monthly Enplanements Table IV-3B–Schedule of Changes in Monthly Enplanements vs. U.S. Domestic Monthly Enplanements Table IV-5–Schedule of Airlines Market Share Table IV-7–Schedule of MCI Aircraft Operations Table IV-9–Schedule of Enplaned Cargo Table IV-8a–Schedule of Commercial Aircraft Landed Weight by Airline Table IV-8b–Schedule of Commercial Aircraft Landings Table V-6–Schedule of Annual Parking Revenue by Facility Table VI-10–Schedule of Historical Airline Cost Per Enplaned Passenger Table VI-2–Schedule of Total Airport System Revenue and Expenses Table VI-3–Schedule of Historical Operating and Maintenance Expenses Table VI-5–Schedule of Historical Revenues Table VI-13–Schedule of PFC Revenues Table VI-14–Schedule of PFC Bond Sufficiency Covenant
Demographic and Economic Information these schedules offer demographic and economic indicators to help understand the environment within which the Department’s financial activities take place.
Schedule of Population Schedule of Principal Employers
Operating Information these schedules contain service and infrastructure information to help understand how the information in the Department’s financial report relates to the services the Department provides and the activities performed. Schedule of Rates and Charges Schedule of Facility Information Schedule of Department of Aviation Operating Expenditures by Division Schedule of Department Full-Time and Equivalent Employees by Division Schedule of Assets Capitalized Schedule of Construction in Progress Statistical Section 58 Financial Trend Information
Schedule of Historical Net Assets and Cash Flow Information For the last ten fiscal years
FYE2001 FYE2002 FYE2003 FYE2004 FYE2005 FYE2006 FYE2007 FYE2008 FYE2009 FYE2010
Statement of Net Assets: Current Assets–Unrestricted $161,646,608 $165,960,388 $181,503,411 $130,027,638 $127,418,350 $139,861,105 $ 31,608,842 $ 38,123,042 $ 27,311,886 $ 23,444,921 Current Assets–Restricted 37,285,843 121,391,304 156,966,757 116,800,168 134,922,524 107,190,328 17,166,424 31,318,394 16,986,519 17,658,928 Non-Current–Investments(1) ------163,485,355 149,484,741 155,537,706 130,932,560 Non-Current–Capital 535,827,948 621,741,794 628,519,098 688,689,883 957,419,659 977,276,265 1,118,478,414 1,142,318,513 1,192,075,320 1,262,002,368 Non-Current–Construction in Progress 97,242,089 101,091,962 203,993,645 251,419,111 34,141,629 82,488,938 21,619,021 32,723,518 43,726,101 32,927,911 Non-Current–Accumulated Depreciation (263,913,086) (284,365,891) (310,824,361) (339,044,701) (377,674,731) (411,068,019) (463,184,462) (503,049,149) (559,921,887) (616,064,598) Non-Current–Bond Issue Costs 699,061 1,919,483 3,545,377 3,369,302 4,564,350 4,242,900 3,885,351 3,527,803 3,293,250 2,951,366 Due from Other Funds ------Total Assets $568,788,463 $727,739,040 $863,703,927 $851,261,401 $880,791,781 $899,991,517 $ 893,058,945 $ 894,446,862 $ 879,008,895 $853,853,456
Current Liabilities(1) $ 14,527,635 $ 24,040,441 $ 24,959,258 $ 12,846,116 $ 11,704,215 $ 19,334,408 $ 15,549,860 $ 16,817,658 $ 19,661,438 $ 15,086,730 Current Liabilities from Restricted Assets 9,815,711 14,807,598 19,719,614 19,152,546 17,652,267 19,813,364 22,222,482 22,929,383 24,836,957 21,877,888 (1) Long-term Liabilities 12 7 ,932,228 25 7 ,940,000 3 7 5,206,326 364,2 7 9,43 7 400,55 7 ,168 386,299,521 3 7 4,1 7 1,855 35 7 ,362,142 339,521,183 323,311,445 Total Liabilities 152,275,574 296,788,039 419,885,198 396,278,099 429,913,650 425,447,293 411,944,197 397,109,183 384,019,578 360,276,063
Contributed Capital 141,085,580 134,462,070 ------Retained Earnings 275,427,309 296,488,931 ------Invested in Capital Assets, net of related debt - - 235,285,763 271,378,585 283,935,071 295,181,540 310,259,794 312,854,674 337,911,215 344,926,785 Restricted Net Assets - - 56,830,152 59,359,396 42,686,420 61,683,791 60,094,409 4,526,926 62,632,290 5,846,990 u nrestricted Net Assets - - 151, 7 02,814 124,245,321 124,256,640 11 7 ,6 7 8,893 110, 7 60,545 109,956,0 7 9 94,445,812 2,803,618 Total Retained Earnings/Net Assets 416,512,889 430,951,001 443,818, 7 29 454,983,302 450,8 7 8,131 4 7 4,544,224 481,114, 7 48 49 7 ,33 7 ,6 7 9 494,989,31 7 493,5 77 ,393 Total Liabilities and Net Assets $568,788,463 $727,739,040 $863,703,927 $851,261,401 $880,791,781 $899,991,517 $893,058,945 $894,446,862 $879,008,895 $853,853,456
Cash Flow Information: Operating Profit before Depreciation and Amortization $ 25,805,967 $ 14,169,532 $ 16,920,214 $ 20,162,013 $ 20,447,992 $ 20,324,177 $ 23,972,740 $ 26,169,375 $ 23,401,633 $ 16,885,227 Depreciation and Amortization 21,682,523 22, 7 35, 7 19 2 7 ,292,92 7 28,610,026 38,93 7 ,910 49,621,125 53,944,639 58,029,996 60,264,929 58,220,226 Total Operating Profit $ 4,123,444 $ ( 8,566,18 7 ) $ (10,3 7 2, 7 13) $( 8,448,013) $(18,489,918) $(29,296,948) $(29,9 7 1,899) $(31,860,621) $(36,863,296) $(41,334,999)
Capital Contributions $ 15,518,707 $ 13,307,685 $ 9,557,005 $ 3,279,074 $ 5,700,284 $ 33,094,115 $ 18,567,862 $ 18,282,279 $ 17,744,515 $ 29,407,470 Capital Acquisitions $ 57,073,651 $ 92,012,560 $110,379,572 $ 96,872,489 $ 47,018,293 $ 85,349,215 $ 81,866,913 $ 60,600,862 $ 61,536,229 $ 63,927,969
(1)Reclassifications have been made to FYE2008 to conform to the FYE2009 presentation. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 59 Fiscal Years Ended April 30, 2010 and 2009
Schedule of Historical Net Assets and Cash Flow Information For the last ten fiscal years
FYE2001 FYE2002 FYE2003 FYE2004 FYE2005 FYE2006 FYE2007 FYE2008 FYE2009 FYE2010
Statement of Net Assets: Current Assets–Unrestricted $161,646,608 $165,960,388 $181,503,411 $130,027,638 $127,418,350 $139,861,105 $ 31,608,842 $ 38,123,042 $ 27,311,886 $ 23,444,921 Current Assets–Restricted 37,285,843 121,391,304 156,966,757 116,800,168 134,922,524 107,190,328 17,166,424 31,318,394 16,986,519 17,658,928 Non-Current–Investments(1) ------163,485,355 149,484,741 155,537,706 130,932,560 Non-Current–Capital 535,827,948 621,741,794 628,519,098 688,689,883 957,419,659 977,276,265 1,118,478,414 1,142,318,513 1,192,075,320 1,262,002,368 Non-Current–Construction in Progress 97,242,089 101,091,962 203,993,645 251,419,111 34,141,629 82,488,938 21,619,021 32,723,518 43,726,101 32,927,911 Non-Current–Accumulated Depreciation (263,913,086) (284,365,891) (310,824,361) (339,044,701) (377,674,731) (411,068,019) (463,184,462) (503,049,149) (559,921,887) (616,064,598) Non-Current–Bond Issue Costs 699,061 1,919,483 3,545,377 3,369,302 4,564,350 4,242,900 3,885,351 3,527,803 3,293,250 2,951,366 Due from Other Funds ------Total Assets $568,788,463 $727,739,040 $863,703,927 $851,261,401 $880,791,781 $899,991,517 $ 893,058,945 $ 894,446,862 $ 879,008,895 $853,853,456
Current Liabilities(1) $ 14,527,635 $ 24,040,441 $ 24,959,258 $ 12,846,116 $ 11,704,215 $ 19,334,408 $ 15,549,860 $ 16,817,658 $ 19,661,438 $ 15,086,730 Current Liabilities from Restricted Assets 9,815,711 14,807,598 19,719,614 19,152,546 17,652,267 19,813,364 22,222,482 22,929,383 24,836,957 21,877,888 (1) Long-term Liabilities 12 7 ,932,228 25 7 ,940,000 3 7 5,206,326 364,2 7 9,43 7 400,55 7 ,168 386,299,521 3 7 4,1 7 1,855 35 7 ,362,142 339,521,183 323,311,445 Total Liabilities 152,275,574 296,788,039 419,885,198 396,278,099 429,913,650 425,447,293 411,944,197 397,109,183 384,019,578 360,276,063
Contributed Capital 141,085,580 134,462,070 ------Retained Earnings 275,427,309 296,488,931 ------Invested in Capital Assets, net of related debt - - 235,285,763 271,378,585 283,935,071 295,181,540 310,259,794 312,854,674 337,911,215 344,926,785 Restricted Net Assets - - 56,830,152 59,359,396 42,686,420 61,683,791 60,094,409 4,526,926 62,632,290 5,846,990 u nrestricted Net Assets - - 151, 7 02,814 124,245,321 124,256,640 11 7 ,6 7 8,893 110, 7 60,545 109,956,0 7 9 94,445,812 2,803,618 Total Retained Earnings/Net Assets 416,512,889 430,951,001 443,818, 7 29 454,983,302 450,8 7 8,131 4 7 4,544,224 481,114, 7 48 49 7 ,33 7 ,6 7 9 494,989,31 7 493,5 77 ,393 Total Liabilities and Net Assets $568,788,463 $727,739,040 $863,703,927 $851,261,401 $880,791,781 $899,991,517 $893,058,945 $894,446,862 $879,008,895 $853,853,456
Cash Flow Information: Operating Profit before Depreciation and Amortization $ 25,805,967 $ 14,169,532 $ 16,920,214 $ 20,162,013 $ 20,447,992 $ 20,324,177 $ 23,972,740 $ 26,169,375 $ 23,401,633 $ 16,885,227 Depreciation and Amortization 21,682,523 22, 7 35, 7 19 2 7 ,292,92 7 28,610,026 38,93 7 ,910 49,621,125 53,944,639 58,029,996 60,264,929 58,220,226 Total Operating Profit $ 4,123,444 $ ( 8,566,18 7 ) $ (10,3 7 2, 7 13) $( 8,448,013) $(18,489,918) $(29,296,948) $(29,9 7 1,899) $(31,860,621) $(36,863,296) $(41,334,999)
Capital Contributions $ 15,518,707 $ 13,307,685 $ 9,557,005 $ 3,279,074 $ 5,700,284 $ 33,094,115 $ 18,567,862 $ 18,282,279 $ 17,744,515 $ 29,407,470 Capital Acquisitions $ 57,073,651 $ 92,012,560 $110,379,572 $ 96,872,489 $ 47,018,293 $ 85,349,215 $ 81,866,913 $ 60,600,862 $ 61,536,229 $ 63,927,969
(1)Reclassifications have been made to FYE2008 to conform to the FYE2009 presentation. Statistical Section 60 Financial Trend Information
Schedule of Historical Revenues and Expenses For the last ten fiscal years
FYE2001 FYE2002 FYE2003 FYE2004 FYE2005 FYE2006 FYE2007 FYE2008 FYE2009 FYE2010 Operating Revenues: Terminal and Aprons $ 9,630,210 $10,894,533 $ 9,573,569 $ 9,302,622 $ 9,356,744 $ 10,952,845 $ 10,901,852 $12,426,693 $13,091,491 $11,613,273 Airfield 9,919,277 9,533,402 10,204,660 10,228,110 10,038,968 11,662,094 13,017,560 13,899,348 13,429,590 14,033,642 Parking 32,773,679 29,791,619 31,869,141 33,293,350 34,609,225 35,769,941 40,032,941 44,007,005 40,303,290 40,059,593 Rental Car ,773,929 ,238,643 ,290,691 7,864,913 ,829,509 8,372,860 8,817,410 10,695,864 10,891,442 9,825,488 Transportation Facility Charge - - - - - 1,760,366 4,296,620 4,540,222 4,117,922 3,737,492 Concessions 3,740,279 2,855,587 2,248,520 2,044,290 3,110,624 3,796,773 3,639,827 3,658,952 3,252,467 2,870,364 Property Rentals 5,630,947 6,095,620 6,201,322 6,353,902 5,813,881 ,928,682 14,381,823 14,020,277 16,130,905 13,866,117 Other 143,254 810,83 7 663,543 286,530 160,011 136,258 36 7 ,018 858,121 866,849 32,442 Total Operating Revenues 69,611,575 67,220,241 68,051,446 69,373,71 0,918,962 80,379,819 95,455,051 104,106,482 102,083,956 96,738,411
Non-Operating Revenues: Earnings on Cash and Investments 14,711,152 9,725,987 9,171,250 4,879,174 3,188,810 ,396,189 11,906,515 12,677,561 ,686,690 3,171,445 Passenger Facility Charge 17,207,518 16,134,494 13,686,560 13,879,589 13,655,542 20,252,999 24,097,730 23,822,136 20,159,368 20,532,775 Customer Facility Charge 1,776,234 6,186,432 5,792,046 5,886,939 5,976,731 6,147,691 6,456,360 6,809,736 6,170,584 5,439,585 Operating/Federal Grant 123,049 1,223,993 3,022,340 936,958 136,058 130,359 168,117 185,220 290,638 315,569 Other Income 1,463,226 - 163,840 18 7 ,230 614,809 210,810 3 77 ,681 -2,923,404 202,0 7 9 520,002 Total Non-Operating Revenues 35,281,179 33,270,906 31,836,036 25,769,890 23,571,950 34,138,048 43,006,403 46,418,057 34,509,359 29,979,376 Capital Contributions - 9,118,124 ,450,85 7 3,258,011 5,816,648 40,89 7 ,885 11,915,28 7 20, 7 31,25 7 1 7 ,912,603 - 26, 7 66,354 Total Revenue 104,892,754 109,609,271 107,338,339 98,401,618 100,307,560 155,415,752 150,376,741 171,255,796 154,505,918 153,484,142
Operating Expenses: Salaries, Wages and Employee Benefits 18,292,675 20,509,676 22,365,738 21,120,771 22,168,647 24,007,384 25,022,038 27,455,554 30,198,871 31,199,724 Contractual Services 20,486,708 27,350,108 23,004,062 25,474,042 25,680,324 33,071,060 42,447,274 46,220,645 44,689,158 44,728,434 Commodities 4,940,937 5,082,986 5,663,077 2,616,891 2,621,999 2,977,198 4,012,999 4,260,908 3,794,294 3,925,026 Other 85,288 10 7 ,939 98,355 ------Total Operating Expense 43,805,608 53,050,709 51,131,232 49,211,704 50,470,970 60,055,642 1,482,311 ,937,107 78,682,323 79,853.184
Non-Cash Expenses: Depreciation 21,632,145 22,630,206 27,159,055 28,400,493 38,649,530 49,267,402 53,587,091 57,672,448 59,898,853 57,878,343 Amortization 50,3 7 8 105,513 133,8 7 2 209,533 288,380 353, 7 23 35 7 ,548 35 7 ,548 366,0 7 6 341,884 Total Non-Cash Expenses 21,682,523 22,735,719 27,292,927 28,610,026 38,937,910 49,621,125 53,944,639 58,029,996 60,264,929 58,220,226
Non-Operating Expenses: Interest Expense 8,428,713 12,280,379 15,698,287 9,324,298 14,675,769 19,186,893 18,105,307 18,883,496 17,680,222 16,546,951 Other Expense - ,104,353 348,165 91,01 7 328,082 2,885,999 2 7 3,960 182,266 226,806 2 7 5, 7 04 Total Non-Operating Expenses 8,428,713 19,384,732 16,046,452 9,415,315 15,003,851 22,072,892 18,379,267 19,065,762 17,907,028 16,822,655
Total Expense 3,916,844 95,1 7 1,160 94,4 7 0,611 8 7 ,23 7 ,045 104,412, 7 31 131, 7 49,659 143,806,21 7 155,032,865 156,854,280 154,896,065 Change in Net Assets $30,9 7 5,910 $14,438,111 $12,86 7 , 7 28 $11,164,5 7 3 $( 4,105,1 7 1) $ 23,666,093 $ 6,5 7 0,524 $16,222,931 $(2,348,362) $(1,411,924) City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 61 Fiscal Years Ended April 30, 2010 and 2009
Schedule of Historical Revenues and Expenses For the last ten fiscal years
FYE2001 FYE2002 FYE2003 FYE2004 FYE2005 FYE2006 FYE2007 FYE2008 FYE2009 FYE2010 Operating Revenues: Terminal and Aprons $ 9,630,210 $10,894,533 $ 9,573,569 $ 9,302,622 $ 9,356,744 $ 10,952,845 $ 10,901,852 $12,426,693 $13,091,491 $11,613,273 Airfield 9,919,277 9,533,402 10,204,660 10,228,110 10,038,968 11,662,094 13,017,560 13,899,348 13,429,590 14,033,642 Parking 32,773,679 29,791,619 31,869,141 33,293,350 34,609,225 35,769,941 40,032,941 44,007,005 40,303,290 40,059,593 Rental Car ,773,929 ,238,643 ,290,691 7,864,913 ,829,509 8,372,860 8,817,410 10,695,864 10,891,442 9,825,488 Transportation Facility Charge - - - - - 1,760,366 4,296,620 4,540,222 4,117,922 3,737,492 Concessions 3,740,279 2,855,587 2,248,520 2,044,290 3,110,624 3,796,773 3,639,827 3,658,952 3,252,467 2,870,364 Property Rentals 5,630,947 6,095,620 6,201,322 6,353,902 5,813,881 ,928,682 14,381,823 14,020,277 16,130,905 13,866,117 Other 143,254 810,83 7 663,543 286,530 160,011 136,258 36 7 ,018 858,121 866,849 32,442 Total Operating Revenues 69,611,575 67,220,241 68,051,446 69,373,71 0,918,962 80,379,819 95,455,051 104,106,482 102,083,956 96,738,411
Non-Operating Revenues: Earnings on Cash and Investments 14,711,152 9,725,987 9,171,250 4,879,174 3,188,810 ,396,189 11,906,515 12,677,561 ,686,690 3,171,445 Passenger Facility Charge 17,207,518 16,134,494 13,686,560 13,879,589 13,655,542 20,252,999 24,097,730 23,822,136 20,159,368 20,532,775 Customer Facility Charge 1,776,234 6,186,432 5,792,046 5,886,939 5,976,731 6,147,691 6,456,360 6,809,736 6,170,584 5,439,585 Operating/Federal Grant 123,049 1,223,993 3,022,340 936,958 136,058 130,359 168,117 185,220 290,638 315,569 Other Income 1,463,226 - 163,840 18 7 ,230 614,809 210,810 3 77 ,681 -2,923,404 202,0 7 9 520,002 Total Non-Operating Revenues 35,281,179 33,270,906 31,836,036 25,769,890 23,571,950 34,138,048 43,006,403 46,418,057 34,509,359 29,979,376 Capital Contributions - 9,118,124 ,450,85 7 3,258,011 5,816,648 40,89 7 ,885 11,915,28 7 20, 7 31,25 7 1 7 ,912,603 - 26, 7 66,354 Total Revenue 104,892,754 109,609,271 107,338,339 98,401,618 100,307,560 155,415,752 150,376,741 171,255,796 154,505,918 153,484,142
Operating Expenses: Salaries, Wages and Employee Benefits 18,292,675 20,509,676 22,365,738 21,120,771 22,168,647 24,007,384 25,022,038 27,455,554 30,198,871 31,199,724 Contractual Services 20,486,708 27,350,108 23,004,062 25,474,042 25,680,324 33,071,060 42,447,274 46,220,645 44,689,158 44,728,434 Commodities 4,940,937 5,082,986 5,663,077 2,616,891 2,621,999 2,977,198 4,012,999 4,260,908 3,794,294 3,925,026 Other 85,288 10 7 ,939 98,355 ------Total Operating Expense 43,805,608 53,050,709 51,131,232 49,211,704 50,470,970 60,055,642 1,482,311 ,937,107 78,682,323 79,853.184
Non-Cash Expenses: Depreciation 21,632,145 22,630,206 27,159,055 28,400,493 38,649,530 49,267,402 53,587,091 57,672,448 59,898,853 57,878,343 Amortization 50,3 7 8 105,513 133,8 7 2 209,533 288,380 353, 7 23 35 7 ,548 35 7 ,548 366,0 7 6 341,884 Total Non-Cash Expenses 21,682,523 22,735,719 27,292,927 28,610,026 38,937,910 49,621,125 53,944,639 58,029,996 60,264,929 58,220,226
Non-Operating Expenses: Interest Expense 8,428,713 12,280,379 15,698,287 9,324,298 14,675,769 19,186,893 18,105,307 18,883,496 17,680,222 16,546,951 Other Expense - ,104,353 348,165 91,01 7 328,082 2,885,999 2 7 3,960 182,266 226,806 2 7 5, 7 04 Total Non-Operating Expenses 8,428,713 19,384,732 16,046,452 9,415,315 15,003,851 22,072,892 18,379,267 19,065,762 17,907,028 16,822,655
Total Expense 3,916,844 95,1 7 1,160 94,4 7 0,611 8 7 ,23 7 ,045 104,412, 7 31 131, 7 49,659 143,806,21 7 155,032,865 156,854,280 154,896,065 Change in Net Assets $30,9 7 5,910 $14,438,111 $12,86 7 , 7 28 $11,164,5 7 3 $( 4,105,1 7 1) $ 23,666,093 $ 6,5 7 0,524 $16,222,931 $(2,348,362) $(1,411,924) Statistical Section 62 Financial Trend Information
Schedule of Statements of Cash Flows For the last ten fiscal years
FYE2001 FYE2002 FYE2003 FYE2004 FYE2005 FYE2006 FYE2007 FYE2008 FYE2009 FY2010 Cash Flows from Operating Activities: Cash received from providing services $ 67,620,687 $ 66,594,962 $ 67,726,883 $ 69,653,034 $ 70,896,008 $ 73,518,703 $ 95,566,308 $104,764,113 $104,578,665 $ 95,226,126 Cash paid to employees, including benefits (13,381,004) (17,841,488) (22,801,455) (20,930,841) (21,967,293) (23,009,718) (24,436,847) (26,407,171) (28,402,760) (29,488,362) Cash paid to suppliers (23,96 7 ,309) (35,150,035) (2 7 ,282,2 7 8) (41,303,1 7 8) (31,026,186) (26, 7 23,628) (50,435,322) (50,843,151) (4 7 ,36 7 ,401) (51,862,2 7 8) Cash provided by Operating Activities 30,272,374 13,603,439 17,643,150 7,419,015 17,902,529 23,785,357 20,694,139 27,513,791 28,808,504 13,875,486
Cash Flows from Non-Capital Financing Activities: Proceeds from grants 123,049 1,223,993 3,022,340 936,958 136,058 130,359 168,117 185,220 290,638 315,569 Due other government - 5,517,238 (5,517,238) - - (136,491) - - - - Due to other funds 36,109 12,215 77,144 ------Due from other funds 3,984,106 ------Cash provided by (used in) Non-Capital Financing Activities 4,143,264 6,753,446 (2,417,754) 936,958 136,058 (6,132) 168,117 185,220 290,638 315,569
Cash Flows from Capital and Related Financing Activities: Paid debt issue costs - (1,325,935) (1,759,766) (33,458) (1,598,183) (113,707) - - (131,522) - Acquisition and construction of capital assets (57,073,651) (92,012,560) (110,379,572) ------Purchase of capital assets - - - (784,394) (2,585,524) (5,472,265) (21,374,766) (51,036,535) (4,410,598) (2,540,502) Construction of capital assets - - - (96,088,095) (44,432,769) (79,876,950) (60,492,147) (9,564,327) (57,125,631) (61,387,467) Construction contract retainage 847,292 480,273 3,214,902 214,828 (267,614) (911,404) 1,533,484 (903,033) (86,834) 880,519 Matured coupons - - - 37,573 ------Proceeds from capital debt - 140,187,992 132,941,887 - 84,261,051 20,211,081 - - 29,520,843 - Capital debt refunded - - - - (36,080,000) (22,490,000) - - (29,495,000) - Principal paid on capital debt (6,100,000) (6,520,000) (10,246,740) (10,790,000) (11,285,000) (11,780,000) (12,005,000) (15,340,000) (18,395,000) (18,940,000) Interest paid on capital debt (7,904,723) (12,266,472) (13,912,757) (20,242,594) (19,138,877) (20,160,631) (18,148,223) (18,953,742) (17,984,104) (16,922,151) Passenger facility charges 16,985,722 16,373,775 13,686,560 13,879,589 13,655,542 20,252,999 24,154,914 23,822,136 20,159,368 20,532,775 Customer facility charges 1,252,625 6,120,618 5,792,046 5,886,939 5,976,731 6,147,691 6,405,410 6,809,736 6,170,584 5,439,585 Proceeds from sales of capital assets 77,227 43,626 - 96,213 384,465 331,929 49,261 10,626,548 50,509 9,608 Capital contributed by federal government 15,518,707 13,307,685 9,557,005 3,279,074 5,700,284 33,094,115 18,567,862 18,282,279 17,744,515 29,407,470 Payment to extinguish special facility lease - (1,412,767) ------Legal settlement 1,533,608 ------Other - (4 7 5,620) (184,325) ------Cash provided by (used in) Capital and Related Financing Activities (34,863,193) 62,500,615 28,709,240 (104,544,325) (5,409,894) (60,767,142) (61,309,205) (36,256,938) (53,982,870) (43,520,163) Cash Flows from Investing Activities: Purchase of investments(1) ------(164,270,661) (213,899,519) (166,514,599) (110,718,723) Proceeds from sales and maturities of investments(1) ------184,452,920 213,940,650 176,372,324 136,977,950 Interest received 14,151, 7 62 ,820,499 10,563,390 5,299,64 7 5,334,602 ,00 7 ,3 7 8 13,634, 7 60 10,16 7 ,544 8,1 7 6,186 3,442,833 Cash provided by Investing Activities 14,151, 7 62 ,820,499 10,563,390 5,299,64 7 5,334,602 ,00 7 ,3 7 8 33,81 7 ,019 10,208,6 7 5 18,033,911 29, 7 02,060
Net increase (decrease) in Cash and Cash Equivalents 13,704,207 90,677,999 54,498,026 (90,888,705) 17,963,295 (29,980,539) (6,629,930) 1,650,748 (6,849,817) 372,952 Cash and Cash Equivalents at Beginning of Year 1 7 0,455,614 184,159,821 2 7 4,83 7 ,820 329,335,846 238,44 7 ,141 256,410,436 20,584,24 7 13,954,31 7 15,605,065 8, 7 55,248
Cash and Cash Equivalents at End of Year $184,159,821 $2 7 4,83 7 ,820 $329,335,846 $238,44 7 ,141 $256,410,436 $226,429,89 7 $ 13,954,31 7 $ 15,605,065 $ 8, 7 55,248 $ 9,128,200
Reconciliation to Statements of Net Assets: Cash and Cash Equivalents: Unrestricted $147,248,851 $155,209,797 $173,626,211 $125,868,377 $124,182,308 $124,978,593 $ 8,716,360 $ 3,429,851 $ 4,866,335 $ 4,738,391 Restricted 36,910,9 7 0 119,628,023 155, 7 09,635 112,5 7 8, 7 64 132,228,128 101,451,304 5,23 7 ,95 7 12,1 7 5,214 3,888,913 4,389,809
Cash and Cash Equivalents at End of year $184,159,821 $2 7 4,83 7 ,820 $329,335,846 $238,44 7 ,141 $256,410,436 $226,429,89 7 $ 13,954,31 7 $ 15,605,065 $ 8, 7 55,248 $ 9,128,200
(1) Reclassifications have been made to FYE2008 to conform to the FYE2009 presentation. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 63 Fiscal Years Ended April 30, 2010 and 2009
Schedule of Statements of Cash Flows For the last ten fiscal years
FYE2001 FYE2002 FYE2003 FYE2004 FYE2005 FYE2006 FYE2007 FYE2008 FYE2009 FY2010 Cash Flows from Operating Activities: Cash received from providing services $ 67,620,687 $ 66,594,962 $ 67,726,883 $ 69,653,034 $ 70,896,008 $ 73,518,703 $ 95,566,308 $104,764,113 $104,578,665 $ 95,226,126 Cash paid to employees, including benefits (13,381,004) (17,841,488) (22,801,455) (20,930,841) (21,967,293) (23,009,718) (24,436,847) (26,407,171) (28,402,760) (29,488,362) Cash paid to suppliers (23,96 7 ,309) (35,150,035) (2 7 ,282,2 7 8) (41,303,1 7 8) (31,026,186) (26, 7 23,628) (50,435,322) (50,843,151) (4 7 ,36 7 ,401) (51,862,2 7 8) Cash provided by Operating Activities 30,272,374 13,603,439 17,643,150 7,419,015 17,902,529 23,785,357 20,694,139 27,513,791 28,808,504 13,875,486
Cash Flows from Non-Capital Financing Activities: Proceeds from grants 123,049 1,223,993 3,022,340 936,958 136,058 130,359 168,117 185,220 290,638 315,569 Due other government - 5,517,238 (5,517,238) - - (136,491) - - - - Due to other funds 36,109 12,215 77,144 ------Due from other funds 3,984,106 ------Cash provided by (used in) Non-Capital Financing Activities 4,143,264 6,753,446 (2,417,754) 936,958 136,058 (6,132) 168,117 185,220 290,638 315,569
Cash Flows from Capital and Related Financing Activities: Paid debt issue costs - (1,325,935) (1,759,766) (33,458) (1,598,183) (113,707) - - (131,522) - Acquisition and construction of capital assets (57,073,651) (92,012,560) (110,379,572) ------Purchase of capital assets - - - (784,394) (2,585,524) (5,472,265) (21,374,766) (51,036,535) (4,410,598) (2,540,502) Construction of capital assets - - - (96,088,095) (44,432,769) (79,876,950) (60,492,147) (9,564,327) (57,125,631) (61,387,467) Construction contract retainage 847,292 480,273 3,214,902 214,828 (267,614) (911,404) 1,533,484 (903,033) (86,834) 880,519 Matured coupons - - - 37,573 ------Proceeds from capital debt - 140,187,992 132,941,887 - 84,261,051 20,211,081 - - 29,520,843 - Capital debt refunded - - - - (36,080,000) (22,490,000) - - (29,495,000) - Principal paid on capital debt (6,100,000) (6,520,000) (10,246,740) (10,790,000) (11,285,000) (11,780,000) (12,005,000) (15,340,000) (18,395,000) (18,940,000) Interest paid on capital debt (7,904,723) (12,266,472) (13,912,757) (20,242,594) (19,138,877) (20,160,631) (18,148,223) (18,953,742) (17,984,104) (16,922,151) Passenger facility charges 16,985,722 16,373,775 13,686,560 13,879,589 13,655,542 20,252,999 24,154,914 23,822,136 20,159,368 20,532,775 Customer facility charges 1,252,625 6,120,618 5,792,046 5,886,939 5,976,731 6,147,691 6,405,410 6,809,736 6,170,584 5,439,585 Proceeds from sales of capital assets 77,227 43,626 - 96,213 384,465 331,929 49,261 10,626,548 50,509 9,608 Capital contributed by federal government 15,518,707 13,307,685 9,557,005 3,279,074 5,700,284 33,094,115 18,567,862 18,282,279 17,744,515 29,407,470 Payment to extinguish special facility lease - (1,412,767) ------Legal settlement 1,533,608 ------Other - (4 7 5,620) (184,325) ------Cash provided by (used in) Capital and Related Financing Activities (34,863,193) 62,500,615 28,709,240 (104,544,325) (5,409,894) (60,767,142) (61,309,205) (36,256,938) (53,982,870) (43,520,163) Cash Flows from Investing Activities: Purchase of investments(1) ------(164,270,661) (213,899,519) (166,514,599) (110,718,723) Proceeds from sales and maturities of investments(1) ------184,452,920 213,940,650 176,372,324 136,977,950 Interest received 14,151, 7 62 ,820,499 10,563,390 5,299,64 7 5,334,602 ,00 7 ,3 7 8 13,634, 7 60 10,16 7 ,544 8,1 7 6,186 3,442,833 Cash provided by Investing Activities 14,151, 7 62 ,820,499 10,563,390 5,299,64 7 5,334,602 ,00 7 ,3 7 8 33,81 7 ,019 10,208,6 7 5 18,033,911 29, 7 02,060
Net increase (decrease) in Cash and Cash Equivalents 13,704,207 90,677,999 54,498,026 (90,888,705) 17,963,295 (29,980,539) (6,629,930) 1,650,748 (6,849,817) 372,952 Cash and Cash Equivalents at Beginning of Year 1 7 0,455,614 184,159,821 2 7 4,83 7 ,820 329,335,846 238,44 7 ,141 256,410,436 20,584,24 7 13,954,31 7 15,605,065 8, 7 55,248
C ash and Cash Equivalents at End of Year $184,159,821 $2 7 4,83 7 ,820 $329,335,846 $238,44 7 ,141 $256,410,436 $226,429,89 7 $ 13,954,31 7 $ 15,605,065 $ 8, 7 55,248 $ 9,128,200
Reconciliation to Statements of Net Assets: Cash and Cash Equivalents: Unrestricted $147,248,851 $155,209,797 $173,626,211 $125,868,377 $124,182,308 $124,978,593 $ 8,716,360 $ 3,429,851 $ 4,866,335 $ 4,738,391 Restricted 36,910,9 7 0 119,628,023 155, 7 09,635 112,5 7 8, 7 64 132,228,128 101,451,304 5,23 7 ,95 7 12,1 7 5,214 3,888,913 4,389,809
Cash and Cash Equivalents at End of year $184,159,821 $2 7 4,83 7 ,820 $329,335,846 $238,44 7 ,141 $256,410,436 $226,429,89 7 $ 13,954,31 7 $ 15,605,065 $ 8, 7 55,248 $ 9,128,200
(1) Reclassifications have been made to FYE2008 to conform to the FYE2009 presentation. Statistical Section 64 Financial Trend Information
Schedule of Unrestricted and Restricted Cash and Investments For the last ten fiscal years
U unrestricted Restricted Restricted Restricted Restricted Restricted Airlines Restricted Deferred Restricted Restricted Restricted Total Unrestricted Cash and Passenger Customer DEA Forfeited Richards- Operations and Maintenance and Principal and Bond Construction Restricted and Restricted Investments Facility Charge Facility Charge Property Gebaur Maintenance Replacement Interest Reserve Proceeds Other Cash and Investments
FYE2001 $147,248,851 $ - $ 1,279,740 $ 115,335 $ 6,639,703 $ 1,725,534 $ 4,158,593 $ 5,639,649 $ 14,776,000 $ 2,274,074 $ 302,343 $184,159,822 FYE2002 155,209,796 8,809,380 6,659,616 104,373 5,034,134 1,000,000 750,000 8,176,953 15,275,500 3,506,105 311,962 274,837,819 FYE2003 173,626,211 13,503,621 12,339,400 123,724 2,504,857 1,000,000 750,000 13,837,907 15,275,500 96,048,330 326,297 329,335,847 FYE2004 125,868,377 13,528,927 17,928,526 55,054 3,764,239 1,951,189 6,410,983 10,821,389 15,275,500 42,509,427 333,530 238,447,141 FYE2005 124,182,309 11,635,032 9,398,371 84,563 4,906,580 1,996,607 6,560,207 8,789,141 10,875,500 ,640,831 341,295 256,410,436 FYE2006 124,978,593 19,895,495 13,443,851 190,316 5,232,465 3,998,071 750,000 8,958,129 8,437,000 40,545,977 - 226,429,897 FYE2007 124,643,863 19,419,271 16,734,497 193,832 2,998,500 6,154,472 750,000 11,011,952 8,437,000 ,431,306 - 197,774,693 FYE2008 106,564,680 34,304,694 6,945,959 60,942 13,430,179 11,913,719 750,000 19,404,675 8,437,000 - - 201,811,848 FYE2009 101,585,472 33,020,457 3,193,356 57,940 5,814,010 10,956,374 750,000 14,907,196 14,819,500 - - 185,104,305 FYE2010 81,306,740 37,001,122 2,146,849 6,324 1,864,246 11,240,558 750,000 11,974,190 12,858,000 - - 159,218,029 City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 65 Fiscal Years Ended April 30, 2010 and 2009
Schedule of Unrestricted and Restricted Cash and Investments For the last ten fiscal years
U unrestricted Restricted Restricted Restricted Restricted Restricted Airlines Restricted Deferred Restricted Restricted Restricted Total Unrestricted Cash and Passenger Customer DEA Forfeited Richards- Operations and Maintenance and Principal and Bond Construction Restricted and Restricted Investments Facility Charge Facility Charge Property Gebaur Maintenance Replacement Interest Reserve Proceeds Other Cash and Investments
FYE2001 $147,248,851 $ - $ 1,279,740 $ 115,335 $ 6,639,703 $ 1,725,534 $ 4,158,593 $ 5,639,649 $ 14,776,000 $ 2,274,074 $ 302,343 $184,159,822 FYE2002 155,209,796 8,809,380 6,659,616 104,373 5,034,134 1,000,000 750,000 8,176,953 15,275,500 3,506,105 311,962 274,837,819 FYE2003 173,626,211 13,503,621 12,339,400 123,724 2,504,857 1,000,000 750,000 13,837,907 15,275,500 96,048,330 326,297 329,335,847 FYE2004 125,868,377 13,528,927 17,928,526 55,054 3,764,239 1,951,189 6,410,983 10,821,389 15,275,500 42,509,427 333,530 238,447,141 FYE2005 124,182,309 11,635,032 9,398,371 84,563 4,906,580 1,996,607 6,560,207 8,789,141 10,875,500 ,640,831 341,295 256,410,436 FYE2006 124,978,593 19,895,495 13,443,851 190,316 5,232,465 3,998,071 750,000 8,958,129 8,437,000 40,545,977 - 226,429,897 FYE2007 124,643,863 19,419,271 16,734,497 193,832 2,998,500 6,154,472 750,000 11,011,952 8,437,000 ,431,306 - 197,774,693 FYE2008 106,564,680 34,304,694 6,945,959 60,942 13,430,179 11,913,719 750,000 19,404,675 8,437,000 - - 201,811,848 FYE2009 101,585,472 33,020,457 3,193,356 57,940 5,814,010 10,956,374 750,000 14,907,196 14,819,500 - - 185,104,305 FYE2010 81,306,740 37,001,122 2,146,849 6,324 1,864,246 11,240,558 750,000 11,974,190 12,858,000 - - 159,218,029 Statistical Section 66 Revenue Capacity Information
Schedule of Revenues, Expenses, and Changes in Fund Net Assets by Facility For the year ending April 30, 2010
Kansas City Charles B. Wheeler Total International Downtown Operating revenues: Terminal $ 11,613,273 $ - $ 11,613,273 Airfield Fees 13,853,180 180,462 14,033,642 Parking 40,059,593 - 40,059,593 Rental Car 9,807,460 18,028 9,825,488 Transportation Facility Charges 3,737,492 - 3,737,492 Concessions 2,870,364 - 2,870,364 Property Rental 11,408,176 2,457,941 13,866,117 Other 6 7 3,999 58,443 _ 7 32,442 Total Operating Revenues 94,023,537 2,714,874 96,738,411
Operating Expenses: Salaries, Wages and Employee Benefits 30,222,806 976,918 31,199,724 Contractual Services 43,806,863 921,571 44,728,434 Commodities 3,629,548 295,4 7 8 3,925,026 Total Operating Expenses 77,659,217 2,193,96 9,853,184
Total Operating Income before Depreciation and Amortization 16,364,320 520,907 16,885,227
Non-Cash Operating Expenses: Depreciation 56,390,866 1,487,477 57,878,343 Amortization 341,883 - 341,883 Total Non-Cash Operating Expenses 56, 7 32, 7 49 1,48 7 ,4 77 58,220,226
Total Operating Income (Loss) (40,368,429) (966,570) (41,334,999)
Non-Operating Revenues: Earnings on Cash and Investments 3,171,445 - 3,171,445 Passenger Facility Charge 20,532,775 - 20,532,775 Customer Facility Charge 5,439,585 - 5,439,585 Operating Grant Revenue 315,569 - 315,569 Other 520,002 - 520,002 Total Non-Operating Revenues 29,979,376 - 29,979,376
Non-Operating Expense: Interest 16,546,951 - 16,546,951 Other 219,265 56,439 2 7 5, 7 04 Total Non-Operating Expense 16, 7 66,216 56,439 16,822,655 Total Non-Operating Income 13,213,160 (56,439) 13,156, 7 21
Net Loss before Capital Contributions (27,155,269) (1,023,009) (28,178,278)
Capital Contributions 18,1 7 5,152 8,591,202 26, 7 66,354 Changes in Net Assets $ (8 980,11 7 ) $ 7 ,568,193 $ (1,411,924) City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 67 Fiscal Years Ended April 30, 2010 and 2009
Schedule of Grants
Maximum FYE10 Grant Number Location Description Balance Revenue Executed Status
Capital Grant Revenue: AIP 3-29-0041-13 MKC Environmental Assessment $ 450,000 $ - FYE04 Closed FYE09 AIP 3-29-0041-17 MKC Rehabilitate Runway 3/21 4,263,294 335,909 FYE08 Open AIP 3-29-0041-18 MKC Rehabilitate Runway 1/19 1,123,693 9,224 FYE09 Open AIP 3-29-0041-20 MKC Rehabilitate Runway 1/19 7,735,229 ,476,069 FYE09 Open AIR 086-107C MKC MODOT - Tee Hangar Complex Rehab 1,575,000 - FYE08 Closed FYE09 AIP 3-29-0040-43 MCI Security Enhancements - Terminal 15,000,000 1,561,371 FYE04 Open AIP-3-29-0040-44 MCI Rehabilitate Apron (Ph IX), Security Enh. 6,419,446 - FYE05 Closed FYE09 AIP-3-29-0040-45 MCI Extend Taxiway B, D, and M 6,985,000 - FYE05 Closed FYE09 AIP 3-29-0040-47 MCI Airfield Lighting and Glycol Recovery ,464,005 2,764,622 FYE05 Open AIP 3-29-0040-49 MCI Snow Removal Equipment 2,250,000 - FYE07 Closed FYE09 AIP 3-29-0040-51 MCI Rehabilitate Taxiways L and M 3,240,745 - FYE07 Open AIP 3-29-0040-52 MCI Cargo Glycol Collection System 4,463,462 - FYE07 Open AIP 3-29-0040-55 MCI Rehabilitate Taxiways D, J, and K 7,590,000 - FYE07 Open AIP 3-29-0040-56 MCI Rehabilitate Apron 2,056,936 - FYE09 Closed FYE09 AIP 3-29-0040-57 MCI Rehabilitate Taxiways M and M1 5,325,000 4,668,071 FYE09 Open AIP 3-29-0040-58 MCI Rehabilitate Runway 1/19; Cargo Apron 5,430,067 3,462,557 FYE09 Open AIP 3-29-0040-59 MCI Rehabilitate Runway 1/19 Lighting 2,831,250 2,509,597 FYE09 Open AIP 3-29-0040-60 MCI Rehabilitate Terminal Apron 342,042 - FYE09 Open AIP 3-29-0040-61 MCI Cargo Apron Rehab 911,087 - FYE09 Open AIP 3-29-0040-62 MCI Rehab Rwy 1/19R & 9/27; Term Aprons ,000,000 1,370,961 FYE09 Open AIP 3-29-0040-63 MCI u pdate KCI Master Plan & 14 CRF Part 150 1,83 7 ,9 7 3 1,83 7 ,9 7 3 FYE09 Open
Total Capital Grant Revenue $26, 7 66,354
Operating Grant Revenue: MCI TSA - Explosives Detection K-9 Team Prgm $200,500 $ 210,447 MCI DEA - Task Force Program 105,122
Total Operating Grant Revenue $315,569 Statistical Section 68 Revenue Capacity Information
Schedule of Highest Paying Customers
FYE2005 (1) FYE2006 (2) FYE2007 (2) FYE2008 (2) Rank Amount Rank Amount Rank Amount Rank Amount
Southwest Airlines 1 $5,751,808 1 $5,826,355 1 $6,674,658 1 $7,070,352 American Airlines 2 3,573,652 2 3,863,103 2 3,307,889 2 4,072,517 Midwest Express Airlines 6 2,043,120 4 2,296,561 3 2,853,057 3 3,520,033 Hertz Car Rental 3 2,715,287 3 2,303,147 4 2,439,401 4 3,254,911 Host International, Inc. - - 8 1,768,374 6 1,921,881 5 2,166,815 Avis Budget Group (3) 4 2,575,275 5 2,169,480 5 2,001,068 6 2,139,354 Vanguard Car Rental 7 1,967,296 1,821,328 8 1,627,084 2,102,129 Delta Air Lines 5 2,312,019 6 1,834,106 1,748,786 8 1,688,873 Executive Beechcraft - - 10 1,584,246 11 1,469,770 9 1,659,689 Northwest Airlines 8 1,905,249 11 1,381,179 9 1,588,898 10 1,655,797 united Airlines 9 1,718,621 12 1,374,774 10 1,517,989 11 1,517,862 uS Airways 11 1,323,884 14 1,283,125 14 1,223,891 12 1,494,836 Continental Airlines 12 1,302,199 13 1,346,992 12 1,463,371 13 1,444,205 Paradies–Kansas City, LLC 10 1,400,545 9 1,676,215 13 1,382,819 14 1,246,582 Frontier ------15 1,054,209 Port Authority of Kansas - - 15 1,071,001 15 1,071,001 - - City, Missouri
FYE2009 (2) FYE2010 Rank Amount Rank Amount
Southwest Airlines 1 $7,920,563 1 $8,104,847 American Airlines 2 3,552,199 2 6,804,134 Delta Air Lines (4) 8 1,900,579 3 4,310,931 Hertz Car Rental 3 2,949,849 4 2,332,056 united Airlines 11 1,649,140 5 2,183,253 Vanguard Car Rental 6 2,028,272 6 2,060,267 Avis Budget Group (3) 5 2,201,55 2,053,882 Midwest Express Airlines 4 2,830,875 8 2,026,730 uS Airways 10 1,706,840 9 1,958,750 Host International, Inc. 2,024,811 10 1,815,064 Executive Beechcraft 12 1,642,471 11 1,424,421 Frontier 14 1,136,431 12 1,378,392 Continental Airlines 13 1,214,911 13 1,326,843 Enterprise Rent A Car 15 1,062,849 14 1,151,347 DTAG - - 15 1,055,299 Northwest Airlines 9 1,732,444 - -
(1) FYE2005 rankings were provided for the 12 highest paying customers only. (2) FYE2006, FYE2007, FYE2008 and FYE2009 rankings were provided for the 15 highest paying customers. (3) Avis Rent A Car and Budget Rent A Car merged operations effective September 2006. (4) Delta and Northwest merged during FY2010 City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 69 Fiscal Years Ended April 30, 2010 and 2009
Schedule of Most Popular Destinations Number of passengers by calendar year
Rank City CY2004 CY2005 CY2006 CY2007
1 Chicago, Midway 401,700 Chicago, Midway 411,590 Chicago, Midway 411,623 Denver 479,778 2 Chicago, O'Hare 339,570 Las Vegas 353,380 Denver 396,193 Chicago, Midway 398,313 3 Las Vegas 333,180 Chicago, O'Hare 339,250 Las Vegas 386,906 Las Vegas 377,765 4 Phoenix 313,890 Los Angeles 313,480 Chicago-O’Hare 346,615 Chicago, O’Hare 356,935 5 Los Angeles 306,640 Phoenix 309,890 Los Angeles 344,220 Orlando 354,603 6 Atlanta 299,380 Atlanta 304,890 Atlanta 330,988 Los Angeles 344,867 Orlando 292,630 Orlando 281,580 Dallas-Love 327,273 Atlanta 330,763 8 Dallas/Ft. Worth 277,210 Denver 277,190 Phoenix 320,630 Phoenix 315,883 9 Denver 276,180 Dallas/Ft. Worth 264,840 Orlando 318,813 Dallas, Love 292,555 10 New York, LGA 239,590 New York 252,110 New York, LGA 264,460 New York, LGA 280,359 11 Washington, DCA 198,920 Washington, DCA 235,630 Washington-DCA 235,037 Dallas-Fort Worth 238,553 12 St. Louis 183,200 St. Louis 178,580 Dallas/Fort Worth 211,085 Washington, DCA 232,043 13 Baltimore 171,920 Baltimore 169,320 St. Louis 194,399 San Diego 195,488 14 Tampa 165,400 Tampa 155,740 San Diego 180,891 St. Louis 190,118 15 Seattle 149,180 San Diego 152,940 Tampa 174,780 Tampa 180,999 16 San Diego 148,640 Nashville 149,560 Baltimore 170,685 Seattle, Tacoma 167,005 17 Detroit 145,690 Seattle 145,040 Nashville 161,721 Nashville 165,202 18 Nashville 142,990 Detroit 143,360 Seattle/Tacoma 156,264 Baltimore 164,146 19 Philadelphia 138,410 MInneapolis 143,210 Fort Lauderdale 148,578 Boston 162,348 20 MInneapolis 131,440 Philadelphia 140,410 Boston 148,310 Philadelphia 148,118
Total – All Destinations 8, 7 21,510 8,8 7 5,340 10,143,936 10,462, 7 31
Rank City CY2008 CY2009
1 Denver 439,711 Denver 409,864 2 Chicago, Midway 384,912 Chicago, Midway 335,554 3 Las Vegas 360,666 Las Vegas 327,926 4 Orlando 336,657 Orlando 320,761 5 Chicago, O’Hare 321,504 Los Angeles 285,248 6 Los Angeles 313,323 Atlanta 279,222 Atlanta 310,019 Chicago, O’Hare 271,320 8 Dallas, Love 305,827 Phoenix 257,725 9 Phoenix 274,859 Dallas, Love 228,369 10 New York, LGA 240,927 New York, LGA 220,260 11 Dallas/Ft. Worth 216,432 Dallas/Ft. Worth 209,465 12 Baltimore 201,294 Baltimore 192,488 13 Washington, DCA 195,273 Washington, DCA 185,986 14 San Diego 181,780 Tampa 185,285 15 Tampa 167,177 Seattle/Tacoma 161,337 16 Seattle/Tacoma 166,751 San Diego 155,656 17 St. Louis 164,594 Fort Lauderdale 145,412 18 Nashville 155,937 Nashville 142,856 19 Philadelphia 153,044 St. Louis 135,036 20 Boston 145,924 Philadelphia 127,792
Total – All Destinations 9,866,9 7 6 8,993,054
One passenger flying roundtrip is counted twice. Source: U.S. DOT Dynamic Table Report for all Airlines between MCI and all Destinations Statistical Section 70 Revenue Capacity Information
Schedule of Non-Stop Destinations
albuquerque, 1 flights/day Ft. Leonardwood, 3 Oklahoma City, 2 International Atlanta, 10 Houston-Intercontinenta, 10 Orlando, 4 Cancun MX, 3/week Baltimore, 3 Indianapolis, 2 Philadelphia, 3 Puerto Vallarta MX 1/week, Boston, 1 Joplin MO, 3 Phoenix, 6 Toronto CA, 1/day Charlotte, 4 Las Vegas, 4 Portland, 1 Chicago-Midway, 10 Los Angeles, 3 Salina KS, 2 Chicago-O’Hare, 14 Memphis, 3 Salt Lake City, 3 Cincinnati, 3 Milwaukee, 8 San Diego, 2 Cleveland, 4 Minneapolis, 5 San Francisco, 2 Dallas/Ft Worth, 8 Nashville, 3 Seattle/Tacoma, 1 Dallas-Love, 8 New York-JFK, 1 St. Louis, 5 Denver, 16 New York-LaGuardia, 6 Tampa, 2 Detroit, 5 Newark, 5 Washington-Dulles, 3 Dodge City, 1 Oakland, 1 Washington-National, 5 188 peak day departures to Ft. Lauderdale, 1 46 non-stop destinations
City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 71 Fiscal Years Ended April 30, 2010 and 2009
Schedule of Passenger and Cargo Airlines
MAJOR / NATIONALS AirTran Airways ‡ American Airlines ‡ Continental Airlines ‡ Delta Air Lines ‡ Frontier Airlines ‡ Midwest Airlines ‡ Southwest Airlines ‡ united Airlines ‡ uS Airways ‡
MAJOR / INTERNATIONAL Air Canada Jazz
REGIONAL / COMMUTERS American/American Eagle ‡ Continental/Expressjet Airlines ‡ Delta/Atlantic Southeast Airlines ‡ Delta/Comair ‡ Delta/Compass Airlines ‡ Delta/Mesaba Airlines ‡ Delta/Pinnacle Airlines ‡ Delta/SkyWest Airlines ‡ Frontier/Republic Airlines ‡ Great Lakes ‡ united/GoJet Airlines‡ united/Mesa Airlines ‡ united/Shuttle America ‡ united/SkyWest Airlines‡ uS Airways/Air Wisconsin ‡ uS Airways/Mesa Airlines ‡ US Airways/Republic Airways ‡ Wings of Alaska/SeaPort Airlines ‡
ALL-CARGO CARRIERS BAX Global ‡ DHL Federal Express ‡ united Parcel Service ‡
‡ denotes signatory airline Statistical Section 72 Revenue Capacity Information
Schedule of Airline Service
CARRIER NON-STOP DESTINATION PEAK DAY DEPARTURES
Air Canada, 1 Toronto ON, CA (YYZ) 1
AirTran Airways, 4 Atlanta GA (ATL) 3 Orlando FL (MCO) 1
American Airlines, 15 Chicago-O’Hare IL (ORD) 7 Dallas/Ft. Worth TX (DFW) 8
Continental Airlines, 19 Cleveland OH (CLE) 4 Houston-Intercontinental TX (IAH) 10 Newark NJ (EWR) 5
Delta Air Lines, 30 Atlanta GA (ATL) 7 Covington KY (CVG) 3 Detroit MI (DTW) 5 Memphis TN (MEM) 3 Minneapolis MN (MSP) 5 New York-JFK (JFK) 1 New York-La Guardia (LGA) 3 Salt Lake City UT (SLC) 3
Frontier Airlines, 5 Cancun MX (CUN) 3/week Denver CO (DEN) 5 Puerto Vallarta MX (PVR) 1/week
Great Lakes, 9 Dodge City KS (DDC) 1 Ft. Leonard Wood MO (TBN) 3 Joplin MO (JLN) 3 Salina KS (SLN) 2
Midwest Airlines, 15 Boston MA (BOS) 1 Los Angeles CA (LAX) 1 Milwaukee WI (MKE) 5 New York-La Guardia NY (LGA) 3 San Francisco CA (SFO) 1 Seattle/Tacoma WA (SEA) 1 Washington-National (DCA) 3
City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 73 Fiscal Years Ending April 30, 2010 and 2009
Schedule of Airline Service, Continued
CARRIER NONSTOP DESTINATION PEAK DAY DEPARTURES
Southwest Airlines, 61 Albuquerque NM (ABQ) 1 Baltimore MD (BWI) 3 Chicago-Midway IL (MDW) 10 Dallas-Love TX (DAL) 8 Denver CO (DEN) 5 Ft. Lauderdale FL (FLL) 1 Indianapolis IN (IND) 2 Las Vegas NV (LAS) 4 Los Angeles CA (LAX) 2 Milwaukee WI (MKE) 3 Nashville TN (BNA) 3 Oakland CA (OAK) 1 Oklahoma City OK (OKC) 2 Orlando FL (MCO) 3 Phoenix AZ (PHX) 3 Portland OR (PDX) 1 San Diego CA (SAN) 2 St. Louis MO (STL) 5 Tampa FL (TPA) 2
United Airlines, 17 Chicago-O’Hare IL (ORD) 7 Denver CO (DEN) 6 San Francisco CA (SFO) 1 Washington-Dulles DC (IAD) 3
US Airways, 12 Charlotte-Douglas NC (CLT) 4 Philadelphia PA (PHL) 3 Phoenix AZ (PHX) 3 Washington-National DC (DCA) 2 Statistical Section 74 Debt Capacity Information
Schedule of Ratios of Outstanding Debt, Debt Service, and Debt Limits for the last ten fiscal years
FYE2001 FYE2002 FYE2003 FYE2004 FYE2005 FYE2006 FYE2007 FYE2008 FY2009 FY2010 Outstanding Debt by Type: General Airport Revenue Bonds (GARBs) $134,785,000 $128,265,000 $251,430,000 $244,230,000 $226,410,000 $215,595,000 $207,570,000 $199,380,000 $187,500,000 $176,300,000 Subordinate Bonds - - - - 57,020,000 57,020,000 57,020,000 54,005,000 50,875,000 47,615,000 Passenger Facility Charge Bonds - 140,000,000 136,520,000 132,930,000 129,220,000 125,380,000 121,400,000 11 7 ,265,000 112,965,000 108,485,000 Outstanding Debt $134,785,000 $268,265,000 $387,950,000 $377,160,000 $412,650,000 $397,995,000 $385,990,000 $370,650,000 $351,340,000 $332,400,000
Enplaned Passengers 6,145,608 5,593,527 4,987,421 4,905,086 5,036,889 5,112,330 5,610,488 5,905,988 5,058,885 4,939,032
Outstanding Debt per Enplaned Passenger $21.93 $47.96 $77.79 $76.89 $81.93 $77.85 $68.80 $62.76 $69.45 $67.30
Debt Service: (in thousands) Principal $ 6,100 $ 6,520 $10,325 $10,790 $10,710 $11,780 $12,005 $15,340 $18,940 $18,645 Interest 7 ,905 12,111 14,2 7 4 20,243 1 7 ,8 7 8 20,889 19,606 18,952 16,919 15,962 Total Debt Service $14,005 $18,631 $24,599 $31,033 $28,588 $32,669 $31,611 $34,292 $35,859 $34,607
Ratio of Debt to Total Expenses 10.39% 6.94% 6.34% 8.23% 6.93% 8.21% 8.19% 9.25% 10.21% 10.41% City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 75 Fiscal Years Ending April 30, 2010 and 2009
Schedule of Ratios of Outstanding Debt, Debt Service, and Debt Limits for the last ten fiscal years
FYE2001 FYE2002 FYE2003 FYE2004 FYE2005 FYE2006 FYE2007 FYE2008 FY2009 FY2010 Outstanding Debt by Type: General Airport Revenue Bonds (GARBs) $134,785,000 $128,265,000 $251,430,000 $244,230,000 $226,410,000 $215,595,000 $207,570,000 $199,380,000 $187,500,000 $176,300,000 Subordinate Bonds - - - - 57,020,000 57,020,000 57,020,000 54,005,000 50,875,000 47,615,000 Passenger Facility Charge Bonds - 140,000,000 136,520,000 132,930,000 129,220,000 125,380,000 121,400,000 11 7 ,265,000 112,965,000 108,485,000 Outstanding Debt $134,785,000 $268,265,000 $387,950,000 $377,160,000 $412,650,000 $397,995,000 $385,990,000 $370,650,000 $351,340,000 $332,400,000
Enplaned Passengers 6,145,608 5,593,527 4,987,421 4,905,086 5,036,889 5,112,330 5,610,488 5,905,988 5,058,885 4,939,032
Outstanding Debt per Enplaned Passenger $21.93 $47.96 $77.79 $76.89 $81.93 $77.85 $68.80 $62.76 $69.45 $67.30
Debt Service: (in thousands) Principal $ 6,100 $ 6,520 $10,325 $10,790 $10,710 $11,780 $12,005 $15,340 $18,940 $18,645 Interest 7 ,905 12,111 14,2 7 4 20,243 1 7 ,8 7 8 20,889 19,606 18,952 16,919 15,962 Total Debt Service $14,005 $18,631 $24,599 $31,033 $28,588 $32,669 $31,611 $34,292 $35,859 $34,607
Ratio of Debt to Total Expenses 10.39% 6.94% 6.34% 8.23% 6.93% 8.21% 8.19% 9.25% 10.21% 10.41% Statistical Section 76 Debt Capacity Information
Table VI-11 Schedule of Historical Garb Debt Service Coverage For The Last Ten Fiscal Years Actual FYE09-FYE10 Annual FYE01 FYE02 FYE03 FYE04 FYE05 FYE06 FYE0 FYE08 FYE09 FYE10 Incr(decr) Revenues:(1) Airfield $9,615,244 $9,533,404 $10,204,660 $10,228,110 $10,038,968 $11,662,094 $13,017,560 $13,899,348 $13,429,590 $14,033,642 (4.5)% Terminal 13,102,894 13,815,149 11,237,347 10,969,892 12,273,098 14,707,359 14,460,030 16,085,645 16,343,958 14,483,637 11.4 Parking 31,993,244 29,557,225 31,654,833 33,089,817 34,450,836 35,606,188 40,032,941 44,007,005 40,303,290 40,059,593 (0.6) Rental Cars ,773,928 ,238,643 ,290,691 ,864,913 ,829,509 8,372,860 8,817,410 10,695,864 10,891,442 9,825,488 (9.8) Aviation Services Area 3,506,368 4,036,332 3,782,221 3,559,50 2,679,955 4,594,393 10,576,261 9,728,175 9,873,639 8,221,341 (16.7) Other Property Rentals 3,620,506 3,119,611 3,216,692 2,299,644 2,396,089 2,440,441 2,961,357 5,045,088 ,124,115 6,377,218 (10.5) Operating Grants 123,049 1,223,993 3,022,340 936,958 136,058 130,359 168,117 185,220 290,638 315,569 8.6 Customer Facility Charges 1,776,234 6,186,432 5,792,046 5,886,939 5,976,731 6,147,691 6,456,360 6,809,736 6,170,584 5,439,585 (11.8) Transportation Facility Charges - - - - - 1,760,366 4,296,620 4,540,222 4,117,922 3,737,492 (9.2) Earnings on Cash and Investments 14,2 7 2,889 4,605,400 3,900,5 7 2 4,13 7 ,949 3,12 7 ,290 6,645,43 7 10, 7 10,544 10,895,280 6,049,065 2,133,958 (64. 7 ) Total Revenues 85,784,356 9,316,189 80,101,402 8,973,729 8,908,534 92,067,188 111,497,200 121,891,583 114,594,243 104,627,523 (8.7)
Cash provided by Capitalized Interest - - -- 3,455,944 ------n.a. Total Cash available for Debt Service 85,784,356 8,316,189 80,101,402 82,429,673 8,908,534 92,067,188 111,497,200 121,891,583 114,594,243 104,627,523 (8.7)
Operating and Maintenance Expenses: Salaries, Wages and Benefits 18,292,675 20,509,675 22,365,738 21,120,771 22,168,647 24,007,384 25,022,038 26,514,667 28,831,360 29,797,055 3.3 Contractual Services 15,925,308 25,528,489 26,280,324 25,474,042 25,680,324 33,071,060 42,447,274 46,220,645 44,689,158 44,728,434 (0.1) Utilities 3,871,593 3,340,415 ------n.a. Commodities and Supplies 3,091,249 2,515,840 2,485,170 2,616,891 2,621,999 2,977,198 4,012,999 4,260,908 3,794,294 3,925,026 3.4 Property and Liability Insurance 689,80 7 982,32 7 ------n.a. Total Operating and Maintenance Expenses for Debt Service 41,870,632 52,876,746 51,131,232 49,211,704 50,470,970 60,055,642 1,482,311 6,996,220 ,314,812 8,450,515 1.5
Net Revenues available for Debt Service 43,913,724 26,439,443 28,970,170 33,217,969 28,437,564 32,011,546 40,014,889 44,895,363 37,279,431 26,177,008 (29.8) Senior GARB Debt Service: Series 1989A ------Series 1994A Bonds 3,051,400 3,089,703 3,085,095 3,093,020 ------Series 1995 Bonds 4,078,440 4,184,970 4,172,590 4,163,245 4,151,388 3,501,763 - - - - Series 1997A Bonds 1,619,395 1,619,395 1,619,395 1,619,395 1,619,395 1,619,395 1,619,395 1,619,395 809,698 - Series 1999A Bonds 5,255,488 5,225,738 5,242,113 5,248,006 5,267,244 5,283,619 5,267,394 5,253,700 1,390,569 - Series 2003A Bonds - - - 3,660,381 3,504,620 3,504,620 3,504,620 3,504,620 5,855,045 5,856,726 Series 2003B Bonds - - - 2,832,546 2,712,013 2,712,013 2,712,013 2,712,013 2,712,013 2,712,013 Series 2004E Bonds (2) - - - - 976,453 1,861,963 1,872,988 1,884,538 1,891,888 1,885,088 Series 2005H Bonds (3) - - - - - 506,034 3,497,050 3,284,450 ,091,000 8,153,875 Series 2008A Bonds (4) ------674,027 1,363,200
Current Senior GARB Debt Service 14,004,723 14,119,806 14,119,193 20,616,593 18,231,113 18,989,407 18,473,460 18,258,716 20,424,238 19,970,902
Senior GARB Coverage 3.14 1.87 2.05 1.61 1.56 1.69 2.17 2.46 1.83 1.31
Total GARB Debt Service: Series 2000 Subordinate GARBs 246,66 40,000 40,000 40,000 40,000 - - - - - Series 2005C Subordinate GARBs (5) - - - - - 2,647,595 2,888,285 5,827,910 5,789,285 5,759,535
Subtotal 246,66 40,000 40,000 40,000 40,000 2,647,595 2,285,285 5,827,910 5,789,285 5,759,535
Total GARB Debt Service $14,251,390 $14,859,806 $14,859,193 $21,356,593 $18,971,113 $21,637,002 $21,361,745 $24,086,626 $26,213,523 $25,730,437
Total GARB Coverage 3.08 1.78 1.95 1.56 1.50 1.48 1.87 1.86 1.42 1.02
(1)Revenues presented in accordance with the methodology set forth in the GARB bond ordinances.
(2)Series 2004E GARBs were issued in part to refund the Series 1994A GARBs.
(3)Series 2005H GARBs were issued in part to refund the Series 1995 GARBs.
(4)Series 2008A GARBs were issued in part to refund the Series 1997A GARBs.
(5)Series 2005C Subordinate GARBs were issued in part to refund the Series 2000 Subordinate GARBs. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 77 Fiscal Years Ending April 30, 2010 and 2009
Table VI-11 Schedule of Historical Garb Debt Service Coverage For The Last Ten Fiscal Years Actual FYE09-FYE10 Annual FYE01 FYE02 FYE03 FYE04 FYE05 FYE06 FYE0 FYE08 FYE09 FYE10 Incr(decr) Revenues:(1) Airfield $9,615,244 $9,533,404 $10,204,660 $10,228,110 $10,038,968 $11,662,094 $13,017,560 $13,899,348 $13,429,590 $14,033,642 (4.5)% Terminal 13,102,894 13,815,149 11,237,347 10,969,892 12,273,098 14,707,359 14,460,030 16,085,645 16,343,958 14,483,637 11.4 Parking 31,993,244 29,557,225 31,654,833 33,089,817 34,450,836 35,606,188 40,032,941 44,007,005 40,303,290 40,059,593 (0.6) Rental Cars ,773,928 ,238,643 ,290,691 ,864,913 ,829,509 8,372,860 8,817,410 10,695,864 10,891,442 9,825,488 (9.8) Aviation Services Area 3,506,368 4,036,332 3,782,221 3,559,50 2,679,955 4,594,393 10,576,261 9,728,175 9,873,639 8,221,341 (16.7) Other Property Rentals 3,620,506 3,119,611 3,216,692 2,299,644 2,396,089 2,440,441 2,961,357 5,045,088 ,124,115 6,377,218 (10.5) Operating Grants 123,049 1,223,993 3,022,340 936,958 136,058 130,359 168,117 185,220 290,638 315,569 8.6 Customer Facility Charges 1,776,234 6,186,432 5,792,046 5,886,939 5,976,731 6,147,691 6,456,360 6,809,736 6,170,584 5,439,585 (11.8) Transportation Facility Charges - - - - - 1,760,366 4,296,620 4,540,222 4,117,922 3,737,492 (9.2) Earnings on Cash and Investments 14,2 7 2,889 4,605,400 3,900,5 7 2 4,13 7 ,949 3,12 7 ,290 6,645,43 7 10, 7 10,544 10,895,280 6,049,065 2,133,958 (64. 7 ) Total Revenues 85,784,356 9,316,189 80,101,402 8,973,729 8,908,534 92,067,188 111,497,200 121,891,583 114,594,243 104,627,523 (8.7)
Cash provided by Capitalized Interest - - -- 3,455,944 ------n.a. Total Cash available for Debt Service 85,784,356 8,316,189 80,101,402 82,429,673 8,908,534 92,067,188 111,497,200 121,891,583 114,594,243 104,627,523 (8.7)
Operating and Maintenance Expenses: Salaries, Wages and Benefits 18,292,675 20,509,675 22,365,738 21,120,771 22,168,647 24,007,384 25,022,038 26,514,667 28,831,360 29,797,055 3.3 Contractual Services 15,925,308 25,528,489 26,280,324 25,474,042 25,680,324 33,071,060 42,447,274 46,220,645 44,689,158 44,728,434 (0.1) Utilities 3,871,593 3,340,415 ------n.a. Commodities and Supplies 3,091,249 2,515,840 2,485,170 2,616,891 2,621,999 2,977,198 4,012,999 4,260,908 3,794,294 3,925,026 3.4 Property and Liability Insurance 689,80 7 982,32 7 ------n.a. Total Operating and Maintenance Expenses for Debt Service 41,870,632 52,876,746 51,131,232 49,211,704 50,470,970 60,055,642 1,482,311 6,996,220 ,314,812 8,450,515 1.5
Net Revenues available for Debt Service 43,913,724 26,439,443 28,970,170 33,217,969 28,437,564 32,011,546 40,014,889 44,895,363 37,279,431 26,177,008 (29.8) Senior GARB Debt Service: Series 1989A ------Series 1994A Bonds 3,051,400 3,089,703 3,085,095 3,093,020 ------Series 1995 Bonds 4,078,440 4,184,970 4,172,590 4,163,245 4,151,388 3,501,763 - - - - Series 1997A Bonds 1,619,395 1,619,395 1,619,395 1,619,395 1,619,395 1,619,395 1,619,395 1,619,395 809,698 - Series 1999A Bonds 5,255,488 5,225,738 5,242,113 5,248,006 5,267,244 5,283,619 5,267,394 5,253,700 1,390,569 - Series 2003A Bonds - - - 3,660,381 3,504,620 3,504,620 3,504,620 3,504,620 5,855,045 5,856,726 Series 2003B Bonds - - - 2,832,546 2,712,013 2,712,013 2,712,013 2,712,013 2,712,013 2,712,013 Series 2004E Bonds (2) - - - - 976,453 1,861,963 1,872,988 1,884,538 1,891,888 1,885,088 Series 2005H Bonds (3) - - - - - 506,034 3,497,050 3,284,450 ,091,000 8,153,875 Series 2008A Bonds (4) ------674,027 1,363,200
Current Senior GARB Debt Service 14,004,723 14,119,806 14,119,193 20,616,593 18,231,113 18,989,407 18,473,460 18,258,716 20,424,238 19,970,902
Senior GARB Coverage 3.14 1.87 2.05 1.61 1.56 1.69 2.17 2.46 1.83 1.31
Total GARB Debt Service: Series 2000 Subordinate GARBs 246,66 40,000 40,000 40,000 40,000 - - - - - Series 2005C Subordinate GARBs (5) - - - - - 2,647,595 2,888,285 5,827,910 5,789,285 5,759,535
Subtotal 246,66 40,000 40,000 40,000 40,000 2,647,595 2,285,285 5,827,910 5,789,285 5,759,535
Total GARB Debt Service $14,251,390 $14,859,806 $14,859,193 $21,356,593 $18,971,113 $21,637,002 $21,361,745 $24,086,626 $26,213,523 $25,730,437
Total GARB Coverage 3.08 1.78 1.95 1.56 1.50 1.48 1.87 1.86 1.42 1.02
(1)Revenues presented in accordance with the methodology set forth in the GARB bond ordinances.
(2)Series 2004E GARBs were issued in part to refund the Series 1994A GARBs.
(3)Series 2005H GARBs were issued in part to refund the Series 1995 GARBs.
(4)Series 2008A GARBs were issued in part to refund the Series 1997A GARBs.
(5)Series 2005C Subordinate GARBs were issued in part to refund the Series 2000 Subordinate GARBs. Statistical Section 78 Debt Capacity Information
Table IV-1 Schedule of Annual Passenger Enplanements Calendar Year 1991-2009
Domestic International (1) Total Enplanements Year Actual % of Total Actual % of Total Actual % Change 1991 3,473,333 100.0% - 0.0% 3,473,333 - 1992 3,668,288 98.9 42,557 1.1 3,710,845 6.8% 1993 3,936,402 99.1 33,952 0.9 3,970,354 .0 1994 4,419,734 99.0 46,241 1.0 4,465,975 12.5 1995 4,702,667 99.1 41,226 0.9 4,743,893 6.2 1996 5,002,074 99.2 42,240 0.8 5,044,314 6.3 1997 5,478,912 98.9 62,658 1.1 5,541,570 9.9 1998 5,531,409 99.0 55,228 1.0 5,586,637 0.8 1999 5,861,565 99.0 58,014 1.0 5,919,579 6.0 2000 6,013,923 98.9 66,372 1.1 6,080,295 2.7 2001 5,802,901 99.0 56,255 1.0 5,859,156 (3.6) 2002 5,148,924 99.2 42,892 0.8 5,191,816 (11.4) 2003 4,828,048 99.5 22,223 0.5 4,850,271 (6.6) 2004 4,997,932 99.4 29,678 0.6 5,027,610 3.7 2005 4,958,313 99.4 27,892 0.6 4,986,205 (0.8) 2006 5,501,038 99.2 43,460 0.8 5,544,498 11.2 2007 5,767,798 98.9 64,861 1.1 5,832,659 5.2 2008 5,309,975 98.8 65,951 1.2 5,375,926 (7.8) 2009 4,883,146 99.2 39,263 0.8 4,922,409 (8.4)
(1) International enplanements by Air Canada, Air Canada Jazz, Frontier and charter airlines.
Source: Kansas City Aviation Department Records City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 79 Fiscal Years Ending April 30, 2010 and 2009
Table IV-3 Schedule of Monthly Enplanements Calendar Year 1999-2009 and Jan-Apr 2010 Kansas City International Airport Enplanements (1)
1999 2000 2001 2002 2003 2004 January 396,955 413,748 429,001 380,992 338,163 337,474 February 396,033 431,252 430,547 362,465 331,667 326,816 March 495,935 529,936 553,679 477,432 412,804 441,391 April 471,641 474,108 501,130 427,839 361,699 395,116 May 511,240 536,468 560,096 495,070 434,235 453,755 June 558,722 574,389 577,152 510,659 457,406 488,199 July 581,085 576,169 581,617 523,136 488,213 501,417 August 537,543 552,246 562,629 447,074 434,728 438,691 September 486,785 472,411 337,565 361,990 376,967 399,339 October 517,610 527,776 459,472 416,715 426,811 430,486 November 495,001 510,846 433,503 368,549 376,603 408,206 December 4 7 1,029 480,946 432, 7 65 419,895 410,9 7 5 406, 7 20 Total 5,919,5 7 9 6,080,295 5,859,156 5,191,816 4,850,2 7 1 5,02 7 ,610
2005 2006 2007 2008 2009 2010 January 347,572 373,440 393,796 420,963 335,323 344,321 February 335,021 367,127 384,469 388,933 334,555 318,086 March 437,344 471,396 480,905 514,468 401,116 411,065 April 390,139 424,238 443,021 450,995 387,324 401,469 May 457,508 490,206 528,260 486,801 441,917 June 468,876 553,316 570,104 515,415 462,261 July 484,473 503,287 574,209 517,648 494,361 August 428,940 466,655 543,246 458,184 427,956 September 393,746 429,614 467,978 397,736 399,782 October 427,892 484,886 515,306 440,106 439,678 November 407,708 527,283 487,533 376,968 396,039 December 406,986 449,256 443,832 40 7 , 7 09 402,09 7 Total 4,986,205 5,545,012 5,832,659 5,3 7 5,926 4,922,409
(1)International enplanements by Air Canada, Air Canada Jazz, Frontier and charter airlines.
Source: Kansas City Aviation Department records. Source: Air Transport Association (ATA). ATA data includes only scheduled service by ATA-member passenger airlines. As of June 2009, ATA Airline members included ABX Air, AirTran Airways, Alaska Airlines, American Airlines, ASTAR Air Cargo, Atlas Air, Continental Airlines, Delta Air Lines, Evergreen International Airlines, Federal Express, Hawaiian Airlines, JetBlue Airways, Midwest Airlines, Southwest Airlines, United Airlines, UPS Airlines and US Airways. Statistical Section 80 Debt Capacity Information
Table IV-3B Schedule of Changes in Monthly Enplanements Vs. U.S. Domestic Monthly Enplanements Calendar Year 1999-2009 and Jan-Apr 2010
2000-2001 2001–2002 2002–2003 2003–2004 2004-2005 MCI u.S. MCI u.S. MCI u.S. MCI U.S. MCI U.S.
January 3.7 4.1% (11.2) (13.9)% (11.2) 2.7% (0.2) (2.0)% 3.0 6.7% February (0.2) (3.3) (15.8) (11.7) (8.5) (1.8) (1.5) 5.5 2.5 1.0 March 4.5 (1.7) (13.8) (10.0) (13.5) (5.5) 6.9 4.5 (0.9) 5.7 April 5.7 (0.5) (14.6) (12.8) (15.5) (5.8) 9.2 10.2 (1.3) (0.3) May 4.4 (2.3) (11.6) (10.4) (12.3) 5.3 4.5 4.9 0.8 4.7 June 0.5 (2.2) (11.5) (10.5) (10.4) (3.9) 6.7 6.3 (4.0) 1.5 July 0.9 0.1 (10.1) (10.6) (6.7) (0.9) 2.7 3.7 (3.4) 2.4 August 1.9 3.2 (20.5) (10.7) (2.8) (5.2) 0.9 3.3 (2.2) 0.7 September (28.5) (34.5) .2 28.9 4.1 (1.7) 5.9 5.1 (1.4) 3.6 October (12.9) (21.5) (9.3) 10.1 2.4 (1.0) 0.9 5.7 (0.6) (3.4) November (15.1) (18.5) (15.0) 0.7 2.2 0.8 8.4 .5 (0.1) (0.3) December (10.0) (13.6) (3.0) 11.0 (2.1) (4.0) (1.0) 3.5 0.1 (2.2)
(1) U.S. Domestic monthly enplanements data is no longer available to non-ATA members effective December 31, 2006. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 81 Fiscal Years Ending April 30, 2010 and 2009
Table IV-3B (continued) Schedule of Changes in Monthly Enplanements Vs. U.S. Domestic Monthly Enplanements Calendar Year 2000-2009 and Jan-Apr 2010
2005-2006 2006-2007 2007–2008 2008-2009 2009-20010 MCI u.S. MCI u.S. MCI u.S.(1) MCI u.S.(1) MCI u.S.(1)
January 7.4 0.1% 5.5 n.a. 6.9 n.a. (20.3) n.a. 2.7 n.a. February 9.6 (1.1) 4.7 n.a. 1.2 n.a. (14.0) n.a. (4.9) n.a. March 7.8 (3.0) 2.0 n.a. .0 n.a. (22.0) n.a. 2.5 n.a. April 8.7 0.1 4.4 n.a. 1.8 n.a. (14.1) n.a. 3.7 n.a. May 7.1 (2.3) .8 n.a. (7.8) n.a (9.2) n.a. June 18.0 (2.9) 3.0 n.a. (9.6) n.a. (10.3) n.a. July 3.9 (5.1) 14.1 n.a. (9.9) n.a. (4.5) n.a. August 8.8 (3.5) 16.4 n.a. (15.7) n.a. (6.6) n.a. September 9.1 (1.9) 8.9 n.a. (15.0) n.a. 0.5 n.a. October 13.3 2.1 6.3 n.a. (14.6) n.a. (0.1) n.a. November 29.3 1.5 (7.5) n.a. (22.7) n.a. 5.1 n.a. December 11.4 1.7 (2.1) n.a. (8.1) n.a. (1.4) n.a. Statistical Section 82 Debt Capacity Information
Table IV-5 Schedule of Airlines Market Share Calendar Year 2001-2009 and Jan-Apr 2010 Jan-Apr Domestic Air Carrier: 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 AirTran - - 11,65 9,641 88,923 89,982 114,950 150,747 145,971 141,601 34,554 America West (1) 142,203 147,114 132,673 124,553 146,694 140,895 96,157 51,808 - - - American 555,249 510,931 45,935 43,973 658,969 684,307 608,079 604,717 556,437 480,013 145,546 Continental (2) 281,594 235,322 221,043 223,499 233,137 247,764 280,091 302,053 131,244 262,53 5,528 Delta (3) 664,755 570,432 554,496 662,308 656,419 598,650 553,725 380,040 829,027 842,760 236,972 Express Jet (4) ------88,017 200,908 - - Frontier 43,606 9,115 87,769 121,151 183,425 180,069 203,759 202,161 211,542 176,245 51,256 Great Lakes (5) ------2,201 17,860 21,698 4,686 Midwest Express (6) 164,139 234,287 260,693 213,787 229,586 390,746 580,296 14,180 514,480 295,777 91,246 Northwest (7) 465,205 430,065 394,437 414,465 404,162 401,755 482,351 425,780 - - - Skybus (8) ------22,582 6,684 - - Southwest 1,786,987 1,767,242 1,575,617 1,566,408 1,686,016 1,624,134 1,916,802 2,018,547 1,951,027 1,946,213 615,433 TWA (9) 369,391 271,950 ------united (10) 463,053 443,882 380,854 370,314 414,336 308,689 524,147 524,378 438,179 436,691 126,184 uS Airways (11) 494,837 431,515 327,658 302,313 299,664 292,579 243,590 321,433 359,541 309,509 91,468 (12) Vanguard 582,904 681,046 456,092 ------Subtotal Domestic Air Carrier 6,013,923 5,802,901 5,148,924 4,822,412 5,001,331 4,959,570 5,525,947 5,808,644 5,362,900 4,,913,044 1,472,873
Foreign Air Carrier(13) 24,299 20,660 15,353 10,105 8,885 12,092 10,484 20,923 11,152 8,025 2.068
(14) Charter 42,0 7 3 35,595 2 7 ,539 1 7 , 7 54 1 7 ,394 14,543 8,06 7 3,092 1,8 7 4 1,340 - Total All Airlines 6,080,295 5,859,156 5,191,816 4,850,2 7 1 5,02 7 ,610 4,986,205 5,544,498 5,832,65 7 5,3 7 5,926 4,922,409 1,4 7 4,941
(1) Includes enplanements by Mesa Airlines. America West merged operations with US Airways.
(2) Includes enplanements by Chautauqua Airlines.
(3) Includes enplanements by Atlantic Southeast Airlines (ASA), Chautauqua Airlines, Comair, Shuttle America and Skywest Airlines.
(4) ExpressJet began operations at Kansas City International Airport effective April 2007 and has ceased operations under its own brand as of September 2008.
(5) Great Lakes Airlines began operations at Kansas City International Airport effective October 2007.
(6) Includes enplanements by Skywest, the designated commuter airline for Midwest Express at Kansas City International.
(7) Delta and Northwest merged operations effective April 2008.
(8) Skybus began operations at Kansas City International effective May 2007 and ceased operations in April 2008.
(9) Effective December 2001, TWA’s enplanements are reported together with American’s enplanements.
(10) Includes enplanements by GoJet Airlines, Mesa Airlines, Shuttle America, SkyWest Airlines and TransStates Airlines.
(11) Includes enplanements by Air Wisconsin, Mesa Airlines, PSA Airlines and Republic Airlines.
(12) On July 30, 2002, Vanguard filed for Chapter 11 bankruptcy protection and ceased operations.
(13) Foreign Air Carrier includes Air Canada and Air Canada Jazz.
(14) Charter passenger category includes Allegiant Air, American Trans Air, Miami Air International, Ryan International and White Cap Air Marshal.
Source: Kansas City Aviation Department records. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 83 Fiscal Years Ending April 30, 2010 and 2009
Table IV-5 Schedule of Airlines Market Share Calendar Year 2001-2009 and Jan-Apr 2010 Jan-Apr Domestic Air Carrier: 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 AirTran - - 11,65 9,641 88,923 89,982 114,950 150,747 145,971 141,601 34,554 America West (1) 142,203 147,114 132,673 124,553 146,694 140,895 96,157 51,808 - - - American 555,249 510,931 45,935 43,973 658,969 684,307 608,079 604,717 556,437 480,013 145,546 Continental (2) 281,594 235,322 221,043 223,499 233,137 247,764 280,091 302,053 131,244 262,53 5,528 Delta (3) 664,755 570,432 554,496 662,308 656,419 598,650 553,725 380,040 829,027 842,760 236,972 Express Jet (4) ------88,017 200,908 - - Frontier 43,606 9,115 87,769 121,151 183,425 180,069 203,759 202,161 211,542 176,245 51,256 Great Lakes (5) ------2,201 17,860 21,698 4,686 Midwest Express (6) 164,139 234,287 260,693 213,787 229,586 390,746 580,296 14,180 514,480 295,777 91,246 Northwest (7) 465,205 430,065 394,437 414,465 404,162 401,755 482,351 425,780 - - - Skybus (8) ------22,582 6,684 - - Southwest 1,786,987 1,767,242 1,575,617 1,566,408 1,686,016 1,624,134 1,916,802 2,018,547 1,951,027 1,946,213 615,433 TWA (9) 369,391 271,950 ------united (10) 463,053 443,882 380,854 370,314 414,336 308,689 524,147 524,378 438,179 436,691 126,184 uS Airways (11) 494,837 431,515 327,658 302,313 299,664 292,579 243,590 321,433 359,541 309,509 91,468 (12) Vanguard 582,904 681,046 456,092 ------Subtotal Domestic Air Carrier 6,013,923 5,802,901 5,148,924 4,822,412 5,001,331 4,959,570 5,525,947 5,808,644 5,362,900 4,,913,044 1,472,873
Foreign Air Carrier(13) 24,299 20,660 15,353 10,105 8,885 12,092 10,484 20,923 11,152 8,025 2.068
(14) Charter 42,0 7 3 35,595 2 7 ,539 1 7 , 7 54 1 7 ,394 14,543 8,06 7 3,092 1,8 7 4 1,340 - Total All Airlines 6,080,295 5,859,156 5,191,816 4,850,2 7 1 5,02 7 ,610 4,986,205 5,544,498 5,832,65 7 5,3 7 5,926 4,922,409 1,4 7 4,941
(1) Includes enplanements by Mesa Airlines. America West merged operations with US Airways.
(2) Includes enplanements by Chautauqua Airlines.
(3) Includes enplanements by Atlantic Southeast Airlines (ASA), Chautauqua Airlines, Comair, Shuttle America and Skywest Airlines.
(4) ExpressJet began operations at Kansas City International Airport effective April 2007 and has ceased operations under its own brand as of September 2008.
(5) Great Lakes Airlines began operations at Kansas City International Airport effective October 2007.
(6) Includes enplanements by Skywest, the designated commuter airline for Midwest Express at Kansas City International.
(7) Delta and Northwest merged operations effective April 2008.
(8) Skybus began operations at Kansas City International effective May 2007 and ceased operations in April 2008.
(9) Effective December 2001, TWA’s enplanements are reported together with American’s enplanements.
(10) Includes enplanements by GoJet Airlines, Mesa Airlines, Shuttle America, SkyWest Airlines and TransStates Airlines.
(11) Includes enplanements by Air Wisconsin, Mesa Airlines, PSA Airlines and Republic Airlines.
(12) On July 30, 2002, Vanguard filed for Chapter 11 bankruptcy protection and ceased operations.
(13) Foreign Air Carrier includes Air Canada and Air Canada Jazz.
(14) Charter passenger category includes Allegiant Air, American Trans Air, Miami Air International, Ryan International and White Cap Air Marshal.
Source: Kansas City Aviation Department records. Statistical Section 84 Debt Capacity Information
Table IV-5 (continued) Schedule of Airlines Market Share Calendar Year 2001-2009
Domestic Air Carrier: 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 AirTran 0.0% 0.0% 0.2% 1.6% 1.8% 1.8% 2.1% 2.6% 2.7% 2.9% America West(1) 2.3 2.5 2.6 2.6 2.9 2.8 1.7 0.9 0.0 0.0 American 9.1 8.7 14.4 15.3 13.1 13.7 11.0 10.4 10.4 9.8 Continental(2) 4.6 4.0 4.3 4.6 4.6 5.0 5.1 5.2 2.4 5.3 Delta(3) 10.9 9.7 10.7 13.7 13.1 12.0 10.0 6.5 15.4 17.1 Express Jet(4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 3.7 0.0 Frontier 0.7 1.4 1.7 2.5 3.6 3.6 3.7 3.5 3.9 3.6 Great Lakes (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.4 Midwest Express (6) 2.7 4.0 5.0 4.4 4.6 7.8 10.5 12.2 9.6 6.0 Northwest (7) 7 .7 7.3 7.6 8.5 8.0 8.1 8.7 .3 0.0 0.0 Skybus (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.1 0.0 Southwest 29.5 30.2 30.3 32.4 33.6 32.6 34.5 34.5 36.4 39.5 TWA (9) 6.1 4.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 united (10) 7 .6 7.6 7.3 7.6 8.2 6.2 8.0 9.0 8.2 8.9 uS Airways (11) 8.1 7.4 6.3 6.2 6.0 5.9 4.4 5.5 6.7 6.3 (12) Vanguard 9.6 11.6 8.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Subtotal Domestic Air Carrier 98.9% 99.0% 99.2% 99.4% 99.5% 99.5% 99.7% 99.6% 99.8% 99.8%
Foreign Air Carrier(13) 0.4 0.4 0.3 0.2 0.2 0.2 0.2 0.4 0.2 0.2
(14) Charter 0. 7 0.6 0.5 0.4 0.3 0.3 0.1 0.1 0.0 0.0 Total All Airlines 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
(1) Includes enplanements by Mesa Airlines. America West merged operations with US Airways.
(2) Includes enplanements by Chautauqua Airlines.
(3) Includes enplanements by Atlantic Southeast Airlines (ASA), Chautauqua Airlines, Comair, Shuttle America and Skywest Airlines.
(4) ExpressJet began operations at Kansas City International Airport effective April 2007 and has ceased operations under its own brand as of September 2008.
(5) Great Lakes Airlines began operations at Kansas City International Airport effective October 2007.
(6) Includes enplanements by Skywest, the designated commuter airline for Midwest Express at Kansas City International.
(7) Delta and Northwest merged operations effective April 2008.
(8) Skybus began operations at Kansas City International effective May 2007 and ceased operations in April 2008.
(9) Effective December 2001, TWA’s enplanements are reported together with American’s enplanements.
(10) Includes enplanements by GoJet Airlines, Mesa Airlines, Shuttle America, SkyWest Airlines and TransStates Airlines.
(11) Includes enplanements by Air Wisconsin, Mesa Airlines, PSA Airlines and Republic Airlines.
(12) On July 30, 2002, Vanguard filed for Chapter 11 bankruptcy protection and ceased operations.
(13) Foreign Air Carrier includes Air Canada and Air Canada Jazz.
(14) Charter passenger category includes Allegiant Air, American Trans Air, Miami Air International, Ryan International and White Cap Air Marshal..
Source: Kansas City Aviation Department records. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 85 Fiscal Years Ending April 30, 2010 and 2009
Table IV-5 (continued) Schedule of Airlines Market Share Calendar Year 2001-2009
Domestic Air Carrier: 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 AirTran 0.0% 0.0% 0.2% 1.6% 1.8% 1.8% 2.1% 2.6% 2.7% 2.9% America West(1) 2.3 2.5 2.6 2.6 2.9 2.8 1.7 0.9 0.0 0.0 American 9.1 8.7 14.4 15.3 13.1 13.7 11.0 10.4 10.4 9.8 Continental(2) 4.6 4.0 4.3 4.6 4.6 5.0 5.1 5.2 2.4 5.3 Delta(3) 10.9 9.7 10.7 13.7 13.1 12.0 10.0 6.5 15.4 17.1 Express Jet(4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 3.7 0.0 Frontier 0.7 1.4 1.7 2.5 3.6 3.6 3.7 3.5 3.9 3.6 Great Lakes (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.4 Midwest Express (6) 2.7 4.0 5.0 4.4 4.6 7.8 10.5 12.2 9.6 6.0 Northwest (7) 7 .7 7.3 7.6 8.5 8.0 8.1 8.7 .3 0.0 0.0 Skybus (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.1 0.0 Southwest 29.5 30.2 30.3 32.4 33.6 32.6 34.5 34.5 36.4 39.5 TWA (9) 6.1 4.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 united (10) 7 .6 7.6 7.3 7.6 8.2 6.2 8.0 9.0 8.2 8.9 uS Airways (11) 8.1 7.4 6.3 6.2 6.0 5.9 4.4 5.5 6.7 6.3 (12) Vanguard 9.6 11.6 8.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Subtotal Domestic Air Carrier 98.9% 99.0% 99.2% 99.4% 99.5% 99.5% 99.7% 99.6% 99.8% 99.8%
Foreign Air Carrier(13) 0.4 0.4 0.3 0.2 0.2 0.2 0.2 0.4 0.2 0.2
(14) Charter 0. 7 0.6 0.5 0.4 0.3 0.3 0.1 0.1 0.0 0.0 Total All Airlines 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
(1) Includes enplanements by Mesa Airlines. America West merged operations with US Airways.
(2) Includes enplanements by Chautauqua Airlines.
(3) Includes enplanements by Atlantic Southeast Airlines (ASA), Chautauqua Airlines, Comair, Shuttle America and Skywest Airlines.
(4) ExpressJet began operations at Kansas City International Airport effective April 2007 and has ceased operations under its own brand as of September 2008.
(5) Great Lakes Airlines began operations at Kansas City International Airport effective October 2007.
(6) Includes enplanements by Skywest, the designated commuter airline for Midwest Express at Kansas City International.
(7) Delta and Northwest merged operations effective April 2008.
(8) Skybus began operations at Kansas City International effective May 2007 and ceased operations in April 2008.
(9) Effective December 2001, TWA’s enplanements are reported together with American’s enplanements.
(10) Includes enplanements by GoJet Airlines, Mesa Airlines, Shuttle America, SkyWest Airlines and TransStates Airlines.
(11) Includes enplanements by Air Wisconsin, Mesa Airlines, PSA Airlines and Republic Airlines.
(12) On July 30, 2002, Vanguard filed for Chapter 11 bankruptcy protection and ceased operations.
(13) Foreign Air Carrier includes Air Canada and Air Canada Jazz.
(14) Charter passenger category includes Allegiant Air, American Trans Air, Miami Air International, Ryan International and White Cap Air Marshal..
Source: Kansas City Aviation Department records. Statistical Section 86 Debt Capacity Information
Table IV-7 Schedule of MCI Aircraft Operations Calendar Year 1991-2009
Air Commuter/ General Year Carrier(1) Air Taxi All-Cargo(2) Aviation(3) Military Total
1991 111,295 40,068 6,730 17,088 1,647 176,828 1992 103,060 50,313 6,738 15,600 1,805 177,516 1993 110,119 49,327 10,086 17,319 1,964 188,815 1994 114,629 54,989 14,642 17,490 1,320 203,070 1995 118,433 58,602 10,854 15,420 1,044 204,353 1996 113,992 55,612 12,386 14,234 960 197,184 1997 123,889 61,518 12,092 13,386 679 211,564 1998 125,385 61,009 13,548 12,029 534 212,505 1999 145,912 48,210 12,232 12,499 963 219,816 2000 151,298 43,487 11,560 11,253 14 218,312 2001 148,178 36,818 14,834 8,793 1,074 209,697 2002 137,500 35,837 9,146 8,008 834 191,325 2003 116,367 35,826 9,526 8,302 37 170,758 2004 117,575 31,988 10,584 8,473 15 169,335 2005 101,007 32,439 9,580 12,025 934 155,985 2006 119,695 36,553 6,872 14,544 816 178,480 2007 132,202 53,942 5,920 ,995 830 200,889 2008 120,341 48,796 5,070 6,907 673 181,787 2009 106,235 37,372 3,016 6,027 689 153,339
(1)Includes aircraft operations by domestic air carriers, Air Canada and charter operations.
(2)Cargo operations based on Table IV-8b, Commercial Aircraft Landings - Cargo. In 2007, the substitution from small air freighters to medium-sized freighters resulted in fewer total air opera- tions by the all-cargo airlines.
(3)General aviation includes civil itinerant and local aircraft operations.
Source: Kansas City Aviation Department based on FAA Airport Operations Monthly Summary. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 87 Fiscal Years Ending April 30, 2010 and 2009
Table IV-9 Schedule of Enplaned Cargo Calendar Year 1991-2009 and Jan–Apr 2003-2010
Mail Air Freight Total Weight % of Weight % of Cargo Weight Year (000 lbs) Total (000 lbs) Total (000 lbs)
1991 36,079 38.1% 58,557 61.9% 94,636 1992 43,848 39.9 65,952 60.1 109,800 1993 49,446 37.5 82,313 62.5 131,759 1994 54,921 35.3 100,577 64.7 155,498 1995 57,934 38.3 93,182 61.7 151,116 1996 58,627 36.1 103,635 63.9 162,262 1997 54,244 33.3 108,818 66.7 163,062 1998 51,036 28.2 129,840 1.8 180,876 1999 49,380 27.3 131,349 2.7 180,729 2000 54,598 31.1 120,696 68.9 175,294 2001 44,566 26.4 124,05 3.6 168,623 2002 35,227 23.9 112,454 6.1 147,681 2003 35,293 24.4 109,11 5.6 144,410 2004 34,836 22.4 120,761 .6 155,597 2005 33,371 22.0 118,124 8.0 151,495 2006 33,499 22.3 116,619 .7 150,118 2007 10,332 .1 135,733 92.9 146,065 2008 7,336 5.9 117,363 94.1 124,699 2009 5,420 5.6 91,111 94.4 96,531
Jan - Apr 2003 11,014 22.8 37,355 .2 48,369 Jan - Apr 2004 11,795 23.1 39,226 6.9 51,021 Jan - Apr 2005 11,341 23.4 37,154 6.6 48,495 Jan - Apr 2006 11,135 23.6 36,093 6.4 47,228 Jan - Apr 2007(1) 4,290 9.3 42,059 90.7 46,349 Jan - Apr 2008 2,515 5.7 41,829 94.3 44,344 Jan - Apr 2009 1,874 5.7 31,133 94.3 33,007 Jan - Apr 2010 1,603 5.3 28,551 94.7 30,154
(1) 2007 data incorporates a change in reporting methodology between Mail and Air Freight weights.
Source: Kansas City Aviation Department records. Statistical Section 88 Debt Capacity Information
Table IV-8a Schedule of Commercial Aircraft Landed Weight By Airline (pounds in thousands) Calendar Year 1999 - 2009 % % % % % % 2000 2001 Change 2002 Change 2003 Change 2004 Change 2005 Change 2006 Change Domestic Air Carrier: AirTran - - n.a.% 25,782 n.a.% 113,132 338.8% 132,080 16.7% 111,800 (15.4)% 137,928 23.4% America West (1) 189,172 185,116 (2.1) 175,548 (5.2) 129,851 (26.0) 134,495 3.6 133,264 (0.9) 104,050 (21.9) American 93,214 82,619 (1.3) 1,209,367 54.5 1,198,838 (0.9) 929,788 (22.4) 930,726 0.1 48,395 (19.6) Continental (2) 367,837 343,209 (6.7) 311,412 (9.3) 289,793 (6.9) 288,378 (0.5) 273,113 (5.3) 287,355 5.2 Delta (3) 899,720 839,850 (6.7) 792,817 (5.6) 825,915 4.2 820,749 (0.6) 744,378 (9.3) 560,371 (24.7) Express Jet (4) - - n.a. - n.a. - n.a. - n.a. - n.a. - n.a. Frontier 60,384 108,774 80.1 144,565 32.9 156,705 8.4 260,631 66.3 290,139 11.3 300,042 3.4 Great Lakes (5) - - n.a. - n.a. - n.a. - n.a. - n.a. - n.a. Midwest Express (6) 412,881 606,992 47.0 695,167 14.5 542,387 (22.0) 526,860 (2.9) 679,256 28.9 940,668 38.5 Northwest (7) 633,420 604,563 (4.6) 587,897 (2.8) 590,625 0.5 600,622 1.7 604,984 0.7 553,221 (8.6) Skybus (8) - - n.a. - n.a. - n.a. - n.a. - n.a. - n.a. Southwest 3,052,597 3,118,127 2.1 3,025,830 (3.0) 2,924,833 (3.3) 2,785,553 (4.8) 2,504,612 (10.1) 2,774,700 38.3 TWA (9) 486,077 425,760 (12.4) - (100.0) - n.a. - n.a. - n.a. - n.a. united (10) 37,023 639,073 (13.3) 538,592 (15.7) 478,661 (11.1) 533,996 11.6 454,497 (14.9) 628,764 38.3 uS Airways (11) 568,878 567,580 (0.2) 454,183 (20.0) 392,981 (13.5) 341,635 (13.1) 291,047 (14.8) 211,458 (27.3) (12) Vanguard 824,834 968,336 1 7 .4 7 54,930 (22.0) - (100.0) - n.a. - n.a. - n.a. Subtotal Domestic Air Carrier 9,026,037 9,189,999 1.8 8,716,090 (5.2) 7,643,721 (12.3) 7,354,787 (3.8) 7,017,816 (4.6) ,246,952 3.3 Commuter: Air Midwest 269,899 217,228 (19.5) 151,049 (30.5) 66,604 (55.9) 48,147 (27.7) 50,647 5.2 65,006 28.4 Air Wisconsin - - n.a. - n.a. 32,801 n.a. 58,828 9.3 59,126 0.5 62,933 6.4 Subtotal Commuter 269,899 217,228 (19.5) 151,049 (30.5) 99,405 (34.2) 106,975 .6 109,773 2.6 127,939 3.3 Foreign Air Carrier: Air Canada (13) 44,744 39,459 (11.8) 30,562 (22.5) 6,940 (77.3) 2,861 (58.8) 16,887 490.2 1,280 (92.4) Air Canada Jazz - - n.a. - n.a. 16,544 n.a. 15,309 ( 7 .5) 1,692 (88.9) 18,424 988.9 Subtotal Foreign Air Carrier 44,744 39,459 (11.8) 30,562 (22.5) 23,484 (23.2) 18,170 (22.6) 18,579 2.3 19,704 6.1 Charter Passenger(14) 32,471 67,493 107.9 65,694 (2.7) 28,717 (56.3) 18,579 (35.3) 48,892 163.2 10,209 (79.1) All Cargo Carrier: Air Cargo Carriers, Inc.(15) 5,605 5,175 (7.7) 7,548 45.9 11,491 52.2 11,551 0.5 7,910 (31.5) - (100.0) Airborne Express 83,824 81,363 (2.9) 87,242 .2 92,295 5.8 96,806 4.9 98,453 1.7 125,294 (27.3) BAX Global 101,759 3,466 (27.8) 74,342 1.2 9,121 6.4 81,293 2.7 73,976 (9.0) ,424 4.7 DHL Airways 4,727 68,170 (8.8) 76,092 11.6 82,015 .8 81,760 (0.3) 73,440 (10.2) 34,971 (52.4) Emery Worldwide (16) 176,176 141,039 (19.9) 84,846 (39.8) 98,800 16.4 112,388 13.8 34,558 (69.3) - (100.0) Federal Express 241,516 259,861 .6 310,350 19.4 291,237 (6.2) 323,636 11.1 306,157 (5.4) 311,108 1.6 Kitty Hawk International Inc. 83,796 60,422 (27.9) 75,773 25.4 66,788 (11.9) 66,759 0.0 66,062 (1.0) 61,004 (7.7) uPS 109,422 114,429 4.6 129,519 13.2 127,804 (1.3) 134,479 5.2 132,613 (1.4) 124,862 (5.8) (17) Other - 12, 7 68 n.a. - (100.0) 294 n.a. 1,068 263.3 64,1 7 8 5,909.2 45,194 (29.6) Subtotal All Cargo Carrier 8 7 6,825 816,693 (6.9) 845, 7 12 3.6 849,845 0.5 909, 7 40 .0 85 7 ,34 7 (5.8) 9,85 7 (9.0) Total All Airlines 10,249,9 7 6 10,330,8 7 2 0.8 9,809,10 7 (5.1) 8,645,1 7 2 (11.9) 8,408,251 (2. 7 ) 8,052,40 7 (4.2) 8,184,661 1.6
(1) Includes enplanements by Mesa Airlines. American West merged operations with U.S. Airways (10) Includes operations by GoJet Airlines, Mesa Airlines, Shuttle America, SkyWest Airlines and TransStates Airlines. (2) Includes operations by Chautauqua Airlines. (11) Includes operations by Air Wisconsin, Mesa Airlines, PSA Airlines and Republic Airlines. (3) Includes operations by Atlantic Southeast Airlines (ASA), Chautauqua Airlines, Comair, Shuttle America, Skywest and Northwest Airlines. (12) Vanguard filed for Chapter 11 bankruptcy protection and ceased all operations on July 30, 2002. (4) ExpressJet began operations at Kansas City International Airport effective April 2007. (13) Air Canada and Air Canada Jazz enplanements are combined for reporting purposes as of January 2007. (5) Great Lakes Airlines began operations at Kansas City International Airport effective October 2007. (14) Charter Passenger category includes Allegiant Air, American Trans Air, Miami Air International, Ryan International and White Cap Air Marshal. (6) Includes operations by Skyway, the designated commuter airline for Midwest Express at Kansas City International. (15) Air Cargo Carriers, Inc. exited the Kansas City International market in 2006. (7) Delta and Northwest merged operations effective April 2008. (16) Emery Worldwide merged operations with UPS in 2006. (8) Skybus began operations at Kansas City International Airport effective May 2007. (1 7) Others include Ameriflight, Inc., Cargo Jet, Kalitta Air, Skyway Enterprise and UPS Supply Chain Solutions. (9) Effective December 2001, TWA’s enplanements are reported with American’s enplanements.
Source: Kansas City Aviation Department records. “n.a.” stands for not applicable due to the recent entry or exit from the MCI market by the respective airlines. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 89 Fiscal Years Ending April 30, 2010 and 2009
Table IV-8a Schedule of Commercial Aircraft Landed Weight By Airline (pounds in thousands) Calendar Year 1999 - 2009 % % % % % % 2000 2001 Change 2002 Change 2003 Change 2004 Change 2005 Change 2006 Change Domestic Air Carrier: AirTran - - n.a.% 25,782 n.a.% 113,132 338.8% 132,080 16.7% 111,800 (15.4)% 137,928 23.4% America West (1) 189,172 185,116 (2.1) 175,548 (5.2) 129,851 (26.0) 134,495 3.6 133,264 (0.9) 104,050 (21.9) American 93,214 82,619 (1.3) 1,209,367 54.5 1,198,838 (0.9) 929,788 (22.4) 930,726 0.1 48,395 (19.6) Continental (2) 367,837 343,209 (6.7) 311,412 (9.3) 289,793 (6.9) 288,378 (0.5) 273,113 (5.3) 287,355 5.2 Delta (3) 899,720 839,850 (6.7) 792,817 (5.6) 825,915 4.2 820,749 (0.6) 744,378 (9.3) 560,371 (24.7) Express Jet (4) - - n.a. - n.a. - n.a. - n.a. - n.a. - n.a. Frontier 60,384 108,774 80.1 144,565 32.9 156,705 8.4 260,631 66.3 290,139 11.3 300,042 3.4 Great Lakes (5) - - n.a. - n.a. - n.a. - n.a. - n.a. - n.a. Midwest Express (6) 412,881 606,992 47.0 695,167 14.5 542,387 (22.0) 526,860 (2.9) 679,256 28.9 940,668 38.5 Northwest (7) 633,420 604,563 (4.6) 587,897 (2.8) 590,625 0.5 600,622 1.7 604,984 0.7 553,221 (8.6) Skybus (8) - - n.a. - n.a. - n.a. - n.a. - n.a. - n.a. Southwest 3,052,597 3,118,127 2.1 3,025,830 (3.0) 2,924,833 (3.3) 2,785,553 (4.8) 2,504,612 (10.1) 2,774,700 38.3 TWA (9) 486,077 425,760 (12.4) - (100.0) - n.a. - n.a. - n.a. - n.a. united (10) 37,023 639,073 (13.3) 538,592 (15.7) 478,661 (11.1) 533,996 11.6 454,497 (14.9) 628,764 38.3 uS Airways (11) 568,878 567,580 (0.2) 454,183 (20.0) 392,981 (13.5) 341,635 (13.1) 291,047 (14.8) 211,458 (27.3) (12) Vanguard 824,834 968,336 1 7 .4 7 54,930 (22.0) - (100.0) - n.a. - n.a. - n.a. Subtotal Domestic Air Carrier 9,026,037 9,189,999 1.8 8,716,090 (5.2) 7,643,721 (12.3) 7,354,787 (3.8) 7,017,816 (4.6) ,246,952 3.3 Commuter: Air Midwest 269,899 217,228 (19.5) 151,049 (30.5) 66,604 (55.9) 48,147 (27.7) 50,647 5.2 65,006 28.4 Air Wisconsin - - n.a. - n.a. 32,801 n.a. 58,828 9.3 59,126 0.5 62,933 6.4 Subtotal Commuter 269,899 217,228 (19.5) 151,049 (30.5) 99,405 (34.2) 106,975 .6 109,773 2.6 127,939 3.3 Foreign Air Carrier: Air Canada (13) 44,744 39,459 (11.8) 30,562 (22.5) 6,940 (77.3) 2,861 (58.8) 16,887 490.2 1,280 (92.4) Air Canada Jazz - - n.a. - n.a. 16,544 n.a. 15,309 ( 7 .5) 1,692 (88.9) 18,424 988.9 Subtotal Foreign Air Carrier 44,744 39,459 (11.8) 30,562 (22.5) 23,484 (23.2) 18,170 (22.6) 18,579 2.3 19,704 6.1 Charter Passenger(14) 32,471 67,493 107.9 65,694 (2.7) 28,717 (56.3) 18,579 (35.3) 48,892 163.2 10,209 (79.1) All Cargo Carrier: Air Cargo Carriers, Inc.(15) 5,605 5,175 (7.7) 7,548 45.9 11,491 52.2 11,551 0.5 7,910 (31.5) - (100.0) Airborne Express 83,824 81,363 (2.9) 87,242 .2 92,295 5.8 96,806 4.9 98,453 1.7 125,294 (27.3) BAX Global 101,759 3,466 (27.8) 74,342 1.2 9,121 6.4 81,293 2.7 73,976 (9.0) ,424 4.7 DHL Airways 4,727 68,170 (8.8) 76,092 11.6 82,015 .8 81,760 (0.3) 73,440 (10.2) 34,971 (52.4) Emery Worldwide (16) 176,176 141,039 (19.9) 84,846 (39.8) 98,800 16.4 112,388 13.8 34,558 (69.3) - (100.0) Federal Express 241,516 259,861 .6 310,350 19.4 291,237 (6.2) 323,636 11.1 306,157 (5.4) 311,108 1.6 Kitty Hawk International Inc. 83,796 60,422 (27.9) 75,773 25.4 66,788 (11.9) 66,759 0.0 66,062 (1.0) 61,004 (7.7) uPS 109,422 114,429 4.6 129,519 13.2 127,804 (1.3) 134,479 5.2 132,613 (1.4) 124,862 (5.8) (17) Other - 12, 7 68 n.a. - (100.0) 294 n.a. 1,068 263.3 64,1 7 8 5,909.2 45,194 (29.6) Subtotal All Cargo Carrier 8 7 6,825 816,693 (6.9) 845, 7 12 3.6 849,845 0.5 909, 7 40 .0 85 7 ,34 7 (5.8) 9,85 7 (9.0) Total All Airlines 10,249,9 7 6 10,330,8 7 2 0.8 9,809,10 7 (5.1) 8,645,1 7 2 (11.9) 8,408,251 (2. 7 ) 8,052,40 7 (4.2) 8,184,661 1.6
(1) Includes enplanements by Mesa Airlines. American West merged operations with U.S. Airways (10) Includes operations by GoJet Airlines, Mesa Airlines, Shuttle America, SkyWest Airlines and TransStates Airlines. (2) Includes operations by Chautauqua Airlines. (11) Includes operations by Air Wisconsin, Mesa Airlines, PSA Airlines and Republic Airlines. (3) Includes operations by Atlantic Southeast Airlines (ASA), Chautauqua Airlines, Comair, Shuttle America, Skywest and Northwest Airlines. (12) Vanguard filed for Chapter 11 bankruptcy protection and ceased all operations on July 30, 2002. (4) ExpressJet began operations at Kansas City International Airport effective April 2007. (13) Air Canada and Air Canada Jazz enplanements are combined for reporting purposes as of January 2007. (5) Great Lakes Airlines began operations at Kansas City International Airport effective October 2007. (14) Charter Passenger category includes Allegiant Air, American Trans Air, Miami Air International, Ryan International and White Cap Air Marshal. (6) Includes operations by Skyway, the designated commuter airline for Midwest Express at Kansas City International. (15) Air Cargo Carriers, Inc. exited the Kansas City International market in 2006. (7) Delta and Northwest merged operations effective April 2008. (16) Emery Worldwide merged operations with UPS in 2006. (8) Skybus began operations at Kansas City International Airport effective May 2007. (1 7) Others include Ameriflight, Inc., Cargo Jet, Kalitta Air, Skyway Enterprise and UPS Supply Chain Solutions. (9) Effective December 2001, TWA’s enplanements are reported with American’s enplanements.
Source: Kansas City Aviation Department records. “n.a.” stands for not applicable due to the recent entry or exit from the MCI market by the respective airlines. Statistical Section 90 Debt Capacity Information
Table IV-8a (cont’d) Schedule of Commercial Aircraft Landed Weight By Airline (pounds in thousands) Calendar Year 1999 - 2009 % % %
2007 Change 2008 Change 2009 Change Domestic Air Carrier: AirTran 177,912 29.0% 174,464 (1.9%) 166,256 (4.7%) America West (1) 54,495 (47.6) - (100.0) - 0.0 American 65,756 2.3 7 00,276 (8.6) 616,047 (12.0) Continental (2) 317,671 10.6 7 0,235 (77.9) 272,828 288.5 Delta (3) 505,761 (9.7) 911,771 80.3 1,000,224 9.7 Express Jet (4) 141,211 n.a. 289,754 105.2 - (100.0) Frontier 300,042 3.4 301,268 0.4 241,234 (11.6) Great Lakes (5) ,595 n.a. 61,645 11.7 92,040 49.3 Midwest Express (6) 1,188,964 26.4 871,038 (26.7) 455,422 (47.7) Northwest (7) 523,747 (5.3) - (100.0) - 0.0 Skybus (8) 30,589 n.a. 12,125 (60.4) - (100.0) Southwest 2,906,770 4.8 2,874,198 (1.1) 2,607,872 (9.3) TWA (9) - n.a. - n.a. - 0.0 united (10) 675,725 7.5 7 04,240 4.2 614,144 (12.8) uS Airways (11) 320,128 51.4 352,776 10.2 362,354 2.7 (12) Vanguard - n.a. - n.a. - 0.0 Subtotal Domestic Air Carrier 7,917,592 9.3 7 ,295,547 (7.9) 6,428,421 (11.9) Commuter: Air Midwest 112,000 72.3 48,140 (57.0) - (100.0) Air Wisconsin 26,1 7 9 (58.4) 22,043 (15.8) 22,983 4.3 Subtotal Commuter 138,179 8.0 7 0,183 (49.2) 22,983 (67.3) Foreign Air Carrier: Air Canada (13 - (100.0) - n.a. - 0.0 Air Canada Jazz 16,638 (9. 7 ) 1 7 ,418 4. 7 14,61 7 (16.1) Subtotal Foreign Carrier 16,638 (15.6) 17,418 4.7 14,617 (16.1) Charter Passenger (14) ,141 (30.1) 6,841 (4.2) 6,343 (7.3) All Cargo Carrier: Air Cargo Carriers, Inc. (15) - n.a. - n.a. - 0.0 Airborne Express 108,940 (13.1) 61,102 (43.9) 17,952 (70.6) BAX Global 4,873 (3.3) 7 3,229 (2.2) 52,771 (27.9) DHL Airways ,620 (78.2) 45,312 494.6 11 (98.4) Emery Worldwide (16) - n.a. - n.a. - 0.0 Federal Express 306,456 (1.5) 276,235 (9.9) 251,154 (9.1) Kitty Hawk International Inc. 42,726 (30.0) - (100.0) - 0.0 uPS 126,322 1.2 127,190 0.7 128,554 1.1 (17) Other 2,898 (93.6) 3,051 5.3 581 (81.0) Subtotal Cargo 669,835 (14.1) 586,119 (12.5) 451, 7 23 (22.9) Total All Airlines 8, 7 49,385 6.9 7 ,9 7 6,108 (8.8) 6,924,08 7 (13.2)
(1) Includes enplanements by Mesa Airlines. American West merged operations with U.S. Airways (10) Includes operations by GoJet Airlines, Mesa Airlines, Shuttle America, SkyWest Airlines and TransStates Airlines. (2) Includes operations by Chautauqua Airlines. (11) Includes operations by Air Wisconsin, Mesa Airlines, PSA Airlines and Republic Airlines. (3) Includes operations by Atlantic Southeast Airlines (ASA), Chautauqua Airlines, Comair, Shuttle America, Skywest and Northwest Airlines. (12) Vanguard filed for Chapter 11 bankruptcy protection and ceased all operations on July 30, 2002. (4) ExpressJet began operations at Kansas City International Airport effective April 2007. (13) Air Canada and Air Canada Jazz enplanements are combined for reporting purposes as of January 2007. (5) Great Lakes Airlines began operations at Kansas City International Airport effective October 2007. (14) Charter Passenger category includes Allegiant Air, American Trans Air, Miami Air International, Ryan International and White Cap Air Marshal. (6) Includes operations by Skyway, the designated commuter airline for Midwest Express at Kansas City International. (15) Air Cargo Carriers, Inc. exited the Kansas City International market in 2006. (7) Delta and Northwest merged operations effective April 2008. (16) Emery Worldwide merged operations with UPS in 2006. (8) Skybus began operations at Kansas City International Airport effective May 2007. (1 7) Others include Ameriflight, Inc., Cargo Jet, Kalitta Air, Skyway Enterprise and UPS Supply Chain Solutions. (9) Effective December 2001, TWA’s enplanements are reported with American’s enplanements.
Source: Kansas City Aviation Department records. “n.a.” stands for not applicable due to the recent entry or exit from the MCI market by the respective airlines. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 91 Fiscal Years Ending April 30, 2010 and 2009
Table IV-8a (cont’d) Schedule of Commercial Aircraft Landed Weight By Airline (pounds in thousands) Calendar Year 1999 - 2009 % % %
2007 Change 2008 Change 2009 Change Domestic Air Carrier: AirTran 177,912 29.0% 174,464 (1.9%) 166,256 (4.7%) America West (1) 54,495 (47.6) - (100.0) - 0.0 American 65,756 2.3 7 00,276 (8.6) 616,047 (12.0) Continental (2) 317,671 10.6 7 0,235 (77.9) 272,828 288.5 Delta (3) 505,761 (9.7) 911,771 80.3 1,000,224 9.7 Express Jet (4) 141,211 n.a. 289,754 105.2 - (100.0) Frontier 300,042 3.4 301,268 0.4 241,234 (11.6) Great Lakes (5) ,595 n.a. 61,645 11.7 92,040 49.3 Midwest Express (6) 1,188,964 26.4 871,038 (26.7) 455,422 (47.7) Northwest (7) 523,747 (5.3) - (100.0) - 0.0 Skybus (8) 30,589 n.a. 12,125 (60.4) - (100.0) Southwest 2,906,770 4.8 2,874,198 (1.1) 2,607,872 (9.3) TWA (9) - n.a. - n.a. - 0.0 united (10) 675,725 7.5 7 04,240 4.2 614,144 (12.8) uS Airways (11) 320,128 51.4 352,776 10.2 362,354 2.7 (12) Vanguard - n.a. - n.a. - 0.0 Subtotal Domestic Air Carrier 7,917,592 9.3 7 ,295,547 (7.9) 6,428,421 (11.9) Commuter: Air Midwest 112,000 72.3 48,140 (57.0) - (100.0) Air Wisconsin 26,1 7 9 (58.4) 22,043 (15.8) 22,983 4.3 Subtotal Commuter 138,179 8.0 7 0,183 (49.2) 22,983 (67.3) Foreign Air Carrier: Air Canada (13 - (100.0) - n.a. - 0.0 Air Canada Jazz 16,638 (9. 7 ) 1 7 ,418 4. 7 14,61 7 (16.1) Subtotal Foreign Carrier 16,638 (15.6) 17,418 4.7 14,617 (16.1) Charter Passenger (14) ,141 (30.1) 6,841 (4.2) 6,343 (7.3) All Cargo Carrier: Air Cargo Carriers, Inc. (15) - n.a. - n.a. - 0.0 Airborne Express 108,940 (13.1) 61,102 (43.9) 17,952 (70.6) BAX Global 4,873 (3.3) 7 3,229 (2.2) 52,771 (27.9) DHL Airways ,620 (78.2) 45,312 494.6 11 (98.4) Emery Worldwide (16) - n.a. - n.a. - 0.0 Federal Express 306,456 (1.5) 276,235 (9.9) 251,154 (9.1) Kitty Hawk International Inc. 42,726 (30.0) - (100.0) - 0.0 uPS 126,322 1.2 127,190 0.7 128,554 1.1 (17) Other 2,898 (93.6) 3,051 5.3 581 (81.0) Subtotal Cargo 669,835 (14.1) 586,119 (12.5) 451, 7 23 (22.9) Total All Airlines 8, 7 49,385 6.9 7 ,9 7 6,108 (8.8) 6,924,08 7 (13.2)
(1) Includes enplanements by Mesa Airlines. American West merged operations with U.S. Airways (10) Includes operations by GoJet Airlines, Mesa Airlines, Shuttle America, SkyWest Airlines and TransStates Airlines. (2) Includes operations by Chautauqua Airlines. (11) Includes operations by Air Wisconsin, Mesa Airlines, PSA Airlines and Republic Airlines. (3) Includes operations by Atlantic Southeast Airlines (ASA), Chautauqua Airlines, Comair, Shuttle America, Skywest and Northwest Airlines. (12) Vanguard filed for Chapter 11 bankruptcy protection and ceased all operations on July 30, 2002. (4) ExpressJet began operations at Kansas City International Airport effective April 2007. (13) Air Canada and Air Canada Jazz enplanements are combined for reporting purposes as of January 2007. (5) Great Lakes Airlines began operations at Kansas City International Airport effective October 2007. (14) Charter Passenger category includes Allegiant Air, American Trans Air, Miami Air International, Ryan International and White Cap Air Marshal. (6) Includes operations by Skyway, the designated commuter airline for Midwest Express at Kansas City International. (15) Air Cargo Carriers, Inc. exited the Kansas City International market in 2006. (7) Delta and Northwest merged operations effective April 2008. (16) Emery Worldwide merged operations with UPS in 2006. (8) Skybus began operations at Kansas City International Airport effective May 2007. (1 7) Others include Ameriflight, Inc., Cargo Jet, Kalitta Air, Skyway Enterprise and UPS Supply Chain Solutions. (9) Effective December 2001, TWA’s enplanements are reported with American’s enplanements.
Source: Kansas City Aviation Department records. “n.a.” stands for not applicable due to the recent entry or exit from the MCI market by the respective airlines. Statistical Section 92 Debt Capacity Information
Table IV-8b Schedule of Commercial Aircraft Landings Calendar Year 1999 - 2009 and Jan - Apr 2009 and 2010
2000 2001 2002 2003 2004 2005 2006 2007 Domestic Air Carrier: AirTran - - 248 1,088 1,270 1,075 1,326 1,659 America West (1) 1,613 1,617 1,516 1,140 1,171 1,047 1,012 483 American 5,851 5,759 8,753 8,876 ,283 7,300 5,885 ,380 Continental (2) 4,373 3,948 3,905 4,174 4,735 5,329 5,776 6,068 Delta (3) ,065 6,577 6,831 8,553 8,794 7,875 6,473 5,476 Express Jet (4) ------3,272 Frontier 542 991 1,287 1,329 2,022 2,220 2,249 2,261 Great Lakes Airlines (5) ------453 Midwest Express (6) 4,121 6,160 6,754 5,135 5,109 6,540 9,188 12,843 Northwest (7) 5,673 5,498 5,464 5,593 5,739 6,631 5,931 5,817 Skybus (8) ------222 Southwest 26,042 26,490 25,641 24,706 23,437 21,225 23,433 24,621 TWA (9) 3,500 3,259 ------United (10) 4,684 4,496 4,405 3,966 4,506 3,536 5,606 6,237 US Airways (11) 5,059 4,653 3,623 3,517 3,957 3,515 2,592 3,494 (12) Vanguard 8,093 8,94 7 6,233 - - - - - Subtotal Domestic Air Carrier 6,616 8,395 4,660 68,077 68,023 66,293 69,471 80,286 Commuter: Air Midwest 16,259 12,112 9,027 3,978 2,898 3,051 3,916 6,747 Air Wisconsin - - - 643 1,251 1,258 1,339 55 7 Subtotal Commuter 16,259 12,112 9,027 4,621 4,149 4,309 5,255 ,304 Foreign Air Carrier: Air Canada (13) 944 834 605 140 61 356 4 - Air Canada Jazz - - - 352 325 36 392 354 Subtotal Foreign Carrier 944 834 605 492 386 392 396 354 Charter (14) 611 62 424 229 117 674 72 47 All Cargo Carrier Air Cargo Carriers, Inc. (15) 298 248 334 508 510 350 - - Airborne Express 575 593 575 834 946 794 523 648 BAX Global 579 484 395 468 477 432 438 420 DHL Airways 518 505 509 514 511 456 199 45 Emery Worldwide (16) 428 474 521 607 693 214 - - Federal Express 1,022 1,000 1,202 1,106 1,226 1,113 1,086 1,069 Kitty Hawk International Inc. 545 430 542 423 439 437 432 326 uPS 505 526 495 470 483 474 472 462 (17) Others - 264 - 3 399 280 50 Subtotal Cargo 4,4 7 0 4,524 4,5 7 3 4,933 5,292 4,669 3,430 3,020 Total All Airlines 98,900 96,62 7 89,289 8,352 ,96 7 7 6,33 7 7 8,624 91,011
(1) Includes enplanements by Mesa Airlines. American West merged operations with U.S. Airways. (2) Includes operations by Chautauqua Airlines. (3) Includes operations by Atlantic Southeast Airlines (ASA), Chautauqua Airlines, Comair, Shuttle America, Skywest and Northwest Airlines. (4) ExpressJet began operations at Kansas City International Airport effective April 2007. (5) Great Lakes Airlines began operations at Kansas City International Airport effective October 2007. (6) Includes operations by Skyway, the designated commuter airline for Midwest Express at Kansas City International. (7) Delta and Northwest merged operations effective April 2008. (8) Skybus began operations at Kansas City International Airport effective May 2007. (9) Effective December 2001, TWA’s enplanements are reported with American’s enplanements.
Source: Kansas City Aviation Department records. “n.a.” stands for not applicable due to the recent entry or exit from the MCI market by the respective airlines. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 93 Fiscal Years Ending April 30, 2010 and 2009
Jan-Apr Jan-Apr 2008 2009 2009 2010 Domestic Air Carrier: AirTran 1,675 1,594 424 430 America West (1) - - - - American 6,607 4,959 1,614 1,681 Continental(2) 1,089 5,919 298 40 Delta (3) 10,877 11,683 1,907 3,512 Express Jet(4) 6,685 - 1,701 1,903 Frontier 2,041 1,829 621 643 Great Lakes Airlines (5) 3,677 5,490 1,892 1,074 Midwest Express(6) 9,676 5,290 2,012 1,655 Northwest (7) - - 1,643 - Skybus (8) 88 - - - Southwest 23,922 21,655 ,194 6,726 TWA (9) - - - - united (10) 5,700 5,450 1,933 1,947 uS Airways (11) 4,138 3,960 515 1,260 (12) Vanguard - - - - Subtotal Domestic Air Carrier 6,175 67,829 21,754 20,871 Commuter: Air Midwest 2,900 - - - Air Wisconsin 469 489 489 - Subtotal Commuter 3,369 489 489 - Foreign Air Carrier: Air Canada - - - - Air Canada Jazz 3 7 0 311 103 101 Subtotal Foreign Carrier 370 311 103 101 Charter(13) 49 47 14 4 All Cargo Carrier: Air Cargo Carriers, Inc. - - - - Airborne Express 428 66 66 - BAX Global 427 313 128 86 DHL Airways 279 3 - 6 Emery Worldwide - - - - Federal Express 949 842 307 260 Kitty Hawk International Inc. - - - - uPS 398 271 - 87 (14) Others 54 13 3 Subtotal Cargo 2,535 1,508 504 446 Total all airlines 82,498 0,184 22,864 21,422
(10) Includes operations by GoJet Airlines, Mesa Airlines, Shuttle America, SkyWest Airlines and TransStates Airlines. (11) Includes operations by Air Wisconsin, Mesa Airlines, PSA Airlines and Republic Airlines. (12) Vanguard filed for Chapter 11 bankruptcy protection and ceased all operations on July 30, 2002. (13) Air Canada and Air Canada Jazz enplanements are combined for reporting purposes as of January 2007. (14) Charter Passenger category includes Allegiant Air, American Trans Air, Miami Air International, Ryan International and White Cap Air Marshal. (15) Air Cargo Carriers, Inc. exited the Kansas City International market in 2006 (16) Emery Worldwide merged operations with UPS in 2006. (17) Others include Ameriflight, Inc., Cargo Jet, Kalitta Air, Skyway Enterprise and UPS Supply Chain Solutions. Statistical Section 94 Debt Capacity Information
Table IV-8b (cont’d) Schedule of Commercial Aircraft Landings Calendar Year 2000 - 2009 and Jan-Apr 2009 and 2010
% Change % Change % Change % Change % Change % Change % Change 2000-01 2001–02 2002–03 2003–04 2004–05 2005–06 2006-2007 Domestic Air Carrier: AirTran n.a.% n.a.% 338.7% 16.7% (15.4)% 23.3% 25.1% America West (1) 0.2 (6.2) (24.8) 2.7 (10.6) (3.3) (52.3) American (1.6) 52.0 1.4 (17.9) 0.2 (19.4) 25.4 Continental (2) (9.7) (1.1) 6.9 13.4 12.5 8.4 5.1 Delta (3) (6.9) 3.9 25.2 2.8 (10.5) (17.8) (15.4) Express Jet (4) n.a. n.a. n.a. n.a. n.a. n.a. n.a. Frontier 82.8 29.9 3.3 52.1 9.8 1.3 0.5. Great Lakes Airlines (5) n.a. n.a. n.a. n.a. n.a n.a. n.a. Midwest Express (6) 49.5 9.6 (24.0) (0.5) 28.0 40.5 39.8 Northwest (7) (3.1) (0.6) 2.4 2.6 15.5 (10.6) (1.9) Skybus (8) n.a. n.a. n.a. n.a. n.a. n.a. n.a. Southwest 1. (3.2) (3.6) (5.1) (9.4) 10.4 5.1 TWA (9) (6.9) (100.0) n.a. n.a. n.a. n.a. n.a. United (10) (4.0) (2.0) (10.0) 13.6 (21.5) 58.5 11.3 US Airways (11) (8.0) (22.1) (2.9) 12.5 (11.2) (26.3) 34.8 (12) Vanguard 10.6 (30.3) (100.0) n.a. n.a. n.a. n.a. Subtotal Domestic Air Carrier 2.3 (4.8) (8.8) (0.1) (2.5) 4.8 15.6 Commuter: Air Midwest (25.5) (25.5) (55.9) (27.1) 5.3 28.4 72.3 Air Wisconsin n.a. n.a. n.a. 94.6 0.6 6.4 (58.4) Subtotal Commuter (25.5) (25.5) (48.8) (10.2) 3.9 22.0 39.0 Foreign Air Carrier: Air Canada (13) (11.7) (27.5) (76.9) (56.4) 483.6 (98.9) (100.0) Air Canada Jazz n.a. n.a. n.a. ( 7 . 7 ) (88.9) 988.9 (9. 7 ) Subtotal Foreign Carrier (11.7) (27.5) (18.7) (21.5) 1.6 1.0 (10.6) Charter (14) 24. (44.4) (46.0) (48.9) 476.1 (89.3) (34.7) All Cargo Carrier: Air Cargo Carriers, Inc. (15) (16.8) 34.7 52.1 0.4 (31.4) (100.0) n.a. Airborne Express 3.1 (3.0) 45.0 13.4 (16.1) (34.1) 23.9 BAX Global (16.4) (18.4) 18.5 1.9 (9.4) (1.4) (4.1) DHL Airways (2.5) 0.8 1.0 (0.6) (10.8) (56.4) (77.4) Emery Worldwide (16) 10. 9.9 16.5 14.2 (69.1) (100.0) n.a. Federal Express (2.2) 20.2 (8.0) 10.8 (9.2) (2.4) (1.6) Kitty Hawk International Inc. (21.1) 26.0 (22.0) 3.8 (0.5) (1.1) (24.5) UPS 4.2 (5.9) (5.1) 2.8 (1.9) (0.4) (2.1) (17) Others n.a. (100.0) n.a. 133.3 5600.0 (29.8) (82.1) Subtotal Cargo 1.2 1.1 7 .9 .3 (11.8) (26.5) (12.0) Total All Airlines (2.3) ( 7 .6) (12.2) (0.5) (2.1) 3.0 15.8
(1) Includes enplanements by Mesa Airlines. American West merged operations with U.S. Airways. (2) Includes operations by Chautauqua Airlines. (3) Includes operations by Atlantic Southeast Airlines (ASA), Chautauqua Airlines, Comair, Shuttle America, Skywest and Northwest Airlines. (4) ExpressJet began operations at Kansas City International Airport effective April 2007. (5) Great Lakes Airlines began operations at Kansas City International Airport effective October 2007. (6) Includes operations by Skyway, the designated commuter airline for Midwest Express at Kansas City International. (7) Delta and Northwest merged operations effective April 2008. (8) Skybus began operations at Kansas City International Airport effective May 2007. (9) Effective December 2001, TWA’s enplanements are reported with American’s enplanements.
Source: Kansas City Aviation Department records. “n.a.” stands for not applicable due to the recent entry or exit from the MCI market by the respective airlines. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 95 Fiscal Years Ending April 30, 2010 and 2009
% Change % Change % Change 2007-08 2008-09 Jan-Apr 09–10 Domestic Air Carrier: AirTran 1.0% (4.8)% 1.4% America West (1) (100.0) n.a. n.a. American (10.5) (24.9) 4.2 Continental (2) (82.1) 443.5 (86.6) Delta (3) 98.6 .4 84.2 Express Jet (4) 104.3 (100.0) 11.9 Frontier (9.7) (10.4) 3.5 Great Lakes Airlines (5) 11. 49.3 (43.2) Midwest Express (6) (24.7) (45.3) (17.7) Northwest (7) (100.0) n.a. (100.0) Skybus (8) (60.4) (100.0) n.a. Southwest (2.8) (9.5) (6.5) TWA (9) n.a. n.a. n.a. United (10) (8.6) (4.4) 0.7 US Airways (11) 18.4 (4.3) 144.7 (12) Vanguard n.a. n.a. n.a. Subtotal Domestic Air Carrier (5.1) (11.0) (4.1) Commuter: Air Midwest (57.0) (100.0) n.a. Air Wisconsin (15.8) 4.3 (100.0) Subtotal Commuter (53.9) (85.5) (100.0) Foreign Air Carrier: Air Canada (13) n.a. n.a. n.a. Air Canada Jazz 4.5 (15.9) (1.9) Subtotal Foreign Carrier 4.5 (15.9) (1.9) Charter(14) 4.3 (4.1) (71.4) All Cargo Carrier: Air Cargo Carriers, Inc. (15) n.a. n.a. n.a. Airborne Express (34.0) (84.6) (100.0) BAX Global 1. (26.7) (32.8) DHL Airways 520.0 (98.9) 100.0 Emery Worldwide (16) n.a. n.a. n.a. Federal Express 11.2 (11.3) (15.3) Kitty Hawk International Inc.(100.0) n.a. n.a. UPS (13.9) (31.9) 100.0 (17) Others 8.0 ( 7 5.9) 133.3 Subtotal Cargo 83.9 (40.5) (11.5) Total All Airlines (9.4) (14.9) (6.3)
(10) Includes operations by GoJet Airlines, Mesa Airlines, Shuttle America, SkyWest Airlines and TransStates Airlines. (11) Includes operations by Air Wisconsin, Mesa Airlines, PSA Airlines and Republic Airlines. (12) Vanguard filed for Chapter 11 bankruptcy protection and ceased all operations on July 30, 2002. (13) Air Canada and Air Canada Jazz enplanements are combined for reporting purposes as of January 2007. (14) Charter Passenger category includes Allegiant Air, American Trans Air, Miami Air International, Ryan International and White Cap Air Marshal. (15) Air Cargo Carriers, Inc. exited the Kansas City International market in 2006 (16) Emery Worldwide merged operations with UPS in 2006. (17) Others include Ameriflight, Inc., Cargo Jet, Kalitta Air, Skyway Enterprise and UPS Supply Chain Solutions. Statistical Section 96 Debt Capacity Information
Table V-6 Schedule of Annual Parking Revenue by Facility
Calendar Year 1991-2003, Fiscal Years Ended April 30, 2003 - 2010
Terminal Garages Circle E Satellite Lot Economy Lot Total
% of % of % of % of % Revenue Total Revenue Total Revenue Total Revenue Total Revenue Change
1991 $5,984,052 46.5% $2,708,800 21.1% $4,165,627 32.4% - - $12,858,479 - 1992 8,620,926 57.4 2,197,230 14.6 4,207,537 28.0 - - 15,025,693 16.9% 1993 10,531,815 61.4 2,317,090 13.5 4,311,017 25.1 - - 17,159,922 14.2 1994 12,244,426 60.7 3,117,728 15.5 4,797,534 23.8 - - 20,159,688 17.5 1995 13,111,668 59.8 3,522,873 16.1 5,276,817 24.1 - - 21,911,358 8.7 1996 13,599,495 55.5 4,157,381 17.0 6,746,168 27.5 - - 24,503,044 11.8 1997 14,230,445 54.4 4,189,832 16.0 ,741,402 29.6 - - 26,161,679 6.8 1998 17,562,618 58.5 4,036,496 13.4 8,432,502 28.1 - - 30,031,616 14.8 1999 18,125,006 58.8 3,573,169 11.6 9,122,890 29.6 - - 30,821,065 2.6 2000 18,306,789 58.1 3,764,175 11.9 9,441,256 30.0 - - 31,512,220 2.2 2001 16,432,640 56.4 3,533,783 12.1 9,192,771 31.5 - - 29,159,194 (7.5) 2002 15,986,278 52.9 3,970,522 13.1 10,261,788 34.0 - - 30,218,588 3.6 2003 16,024,067 51.8 4,042,477 13.1 10,880,497 35.1 - - 30,947,041 2.4
Terminal Garages Circle E Economy(1) Other Total
FYE03 $15,746,191 49.4% $4,021,795 12.6% $10,776,766 33.8% $1,324,389 4.2% $31,869,141 - FYE04 16,497,560 49.6 4,110,987 12.3 11,072,774 33.3 1,612,029 4.8 33,293,350 4.5% FYE05 16,906,542 48.9 4,239,169 12.2 11,821,526 34.2 1,639,988 4.7 34,607,225 3.9 FYE06 18,511,844 51.8 4,341,514 12.1 11,698,517 32.7 1,218,066 3.4 35,769,941 3.4 FYE07(2) 20,876,486 52.2 4,847,065 12.1 13,098,510 32.7 1,210,880 3.0 40,032,941 11.9 FYE08(3) 23,393,010 53.2 4,920,006 11.2 14,261,637 32.4 1,432,352 3.2 44,007,005 9.9 FYE09(4) 20,595,087 51.2 4,538,979 11.3 13,760,166 34.1 1,409,059 3.5 40,303,290 (8.4) FYE10(5) 19,739,644 49.4 4,414,251 11.0 13,684,041 34.2 2,221,657 5.5 40,059,593 (0.6)
(1)The Economy Lot replaced the Satellite Lot in January 2004.
(2)FYE07, Terminal Garages: A, $6,013,307; B, $9,351,963; C, $5,511,216.
(3)FYE08, Terminal Garages: A, $6,886,882; B, $9,862,711; C, $6,643,417.
(4)FYE09, Terminal Garages: A, $5,286,547; B, $9,752,915; C, $5,555,625.
(5)FYE10, Terminal Garages: A, $4,572,547; B, $11,036,687; C, $4,130,410. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 97 Fiscal Years Ending April 30, 2010 and 2009
Table VI-10 Schedule of Historical Airline Cost Per Enplaned Passenger For The Last Ten Fiscal Years
Cost Passenger per Airfield Terminal Terminal Boarding Enplaned Enplaned Fees(1) Building Apron Bridges Total Passengers(2) Passenger
FYE01 8,155,158 ,115,268 2,591,819 - 17,862,245 6,145,608 2.91 FYE02 8,027,629 8,099,347 2,559,897 - 18,686,873 5,593,527 3.34 FYE03 8,628,009 6,699,753 2,638,202 - 17,965,964 4,987,421 3.60 FYE04 8,534,887 6,637,060 1,694,001 50,258 17,616,206 4,905,086 3.59 FYE05 8,518,469 6,767,040 1,609,869 27,236 17,622,614 5,036,889 3.50 FYE06 9,787,460 8,265,270 1,159,624 1,122,862 20,335,216 5,112,330 3.98 FYE07 11,518,934 8,798,380 1,486,668 616,804 22,420,786 5,610,488 4.00 FYE08 12,174,446 9,919,574 1,897,767 609,352 24,601,139 5,905,988 4.17 FYE09 11,991,875 10,594,929 1,651,618 844,945 25,083,367 5,058,885 4.96 FYE10(3) 12,952,637 9,355,593 1,698,382 559,298 24,565,910 4,939,032 4.97
(1) Excludes airfield fees paid by cargo carriers.
(2) Enplanements in this table are shown on a fiscal year basis as compared to a calendar year basis, as the case with Table IV-1.
(3) Reflects Use and Lease Agreement. Amounts provided are preliminary settlement amounts and are subject to change. Statistical Section 98 Debt Capacity Information
Table VI-2 Schedule of Total Airport System Revenue and Expenses(1)
For The Last Ten Fiscal Years
FYE2001 FYE2002 FYE2003 FYE2004 FYE2005 FYE2006 FYE2007 FYE2008 FYE2009 FYE2010 Net Revenues available for GARB Debt Service: Total Revenues $85,784,356 $79,316,189 $80,101,402 $82,429,673 $78,908,534 $92,067,188 $111,497,200 $121,891,583 $114,594,243 $104,627,524 Total Expenses (41,870,632) (52,876,746) (51,131,232) (49,211,704) (50,470,970) (60,055,642) (71,482,311) (76,996,220) (77,314,812) (78,450,515)
Net Revenues $43,913, 7 24 $26,439,443 $28,9 7 0,1 7 0 $33,21 7 ,969 $28,43 7 ,564 $32,011,546 $40,014,889 $44,895,363 $3 7 ,2 7 9,431 $26,1 77 ,008
Revenues and Expenses per GAAP: Operating Revenues $69,611,575 $67,220,241 $68,051,446 $69,373,717 $70,918,962 $80,379,819 $95,455,051 $104,106,482 $102,083,956 $ 96,738,411 Operating Expenses (65,43 7 , 7 53) ( 7 5,680,915) ( 7 8,424,159) ( 77 ,821, 7 30) (89,408,880) (109,6 7 6, 7 6 7 ) (125,426,950) (135,96 7 ,103) (138,94 7 ,252) (138,0 7 3,410) Operating Income (Loss) $ 4,173,822 $( 8,460,674) $(10,372,713) $( 8,448,013) $(18,489,918) $(29,296,948) $(29,971,899) $(31,860,621) $(36,863,296) $(41,334,999) Other Income, net 26,802,088 22,898, 7 85 23,240,441 19,612,586 14,384, 7 4 7 52,963,041 36,542,423 48,083,552 34,514,934 39,923,0 7 5 Net Income per GAAP $30,975,910 $14,438,111 $12,867,728 $11,164,573 $( 4,105,171) $23,666,093 $ 6,570,524 $16,222,931 $(2,348,362) $(1,411,924)
Add back:(1) Depreciation Expense $21,632,145 $22,630,206 $27,159,055 $28,400,493 $38,649,530 $49,267,402 $53,587,091 $57,672,448 $59,898,853 $57,878,343 Interest Expense on Bonds 8,428,713 12,280,379 15,698,287 9,324,298 14,675,769 19,186,893 18,105,307 18,883,496 17,680,222 16,546,951 Other Post Employment Benefits(2) ------940,887 1,367,511 1,402,669 Repayment of FAA Grants for Richards-Gebaur(3) - 5,517,238 ------Cash provided by Capitalized Interest (4) - - - 3,455,944 ------Amortization of Bond Costs 50,378 105,513 133,872 209,533 288,380 353,723 357,548 357,548 366,076 341,883 Non-Operating Expense - - 348,165 91,017 328,082 2,885,999 273,960 182,266 226,806 275,704
Deduct:(5) PFC Revenue (17,207,518) (16,134,494) (13,686,560) (13,879,589) (13,655,542) (20,252,999) (24,097,730) (23,822,136) (20,159,368) (20,532,775) Operating Grant Revenue (6) ------Capital Grant Revenue - (9,118,124) (7,450,857) (3,258,011) (5,816,648) (40,897,885) (11,915,287) (20,731,257) (17,912,603) (26,766,354 Interest income on PFCs and Bond Accounts(7) (1,324,020) (5,029,598) (5,270,678) (741,224) (61,522) (750,752) (1,195,972) (1,782,281) (1,637,625) (1,037,487) Other Adjustments 1,358,116 1,750,212 ------Other Non-Operating Revenue(8) (9) - - (163,840) (187,230) (614,809) (210,810) (377,681) (2,923,404) (202,079) (520,002) Richards-Gebaur Operating Revenues - - (665,002) (1,361,835) (1,250,505) (1,236,118) (1,292,8 7 1) (105,135) - - Net Revenues available for Debt Service $43,913, 7 24 $26,439,443 $28,9 7 0,1 7 0 $32,21 7 ,969 $28,43 7 ,564 $32,011,546 $40,014,889 $44,895,363 $3 7 ,2 7 9,431 $26,1 77 ,008
(1) Included in expenses presented pursuant to GAAP, but not included in expenses for operating and maintaining the airports pursuant to the bond ordinances.
(2) FY08 data incorporates a change in reporting methodology.
(3) Due to the closing of Richards-Gebaur, the Department repaid the FAA for grant funds (plus interest) received for Richards-Gebaur in prior years.
(4) Not included in revenues presented pursuant to GAAP, but included in revenues available to pay debt service on GARBs pursuant to the bond ordinances.
(5) Included in revenues presented pursuant to GAAP, but not included in revenues available to pay debt service on GARBs pursuant to the bond ordinances.
(6) FY2001 data incorporates a change in reporting methodology.
(7) Interest income on unspent PFC funds; unspent Series 2001 PFC Bond proceeds; and the balances in the accounts established pursuant to the bond ordinances.
(8) The FYE02 adjustments in the bottom of the table have been restated since the continuing disclosure information was prepared in 2003.
(9) The FYE03 adjustments in the bottom of the table have been restated since the continuing disclosure information was prepared in 2004. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 99 Fiscal Years Ending April 30, 2010 and 2009
Table VI-2 Schedule of Total Airport System Revenue and Expenses(1)
For The Last Ten Fiscal Years
FYE2001 FYE2002 FYE2003 FYE2004 FYE2005 FYE2006 FYE2007 FYE2008 FYE2009 FYE2010 Net Revenues available for GARB Debt Service: Total Revenues $85,784,356 $79,316,189 $80,101,402 $82,429,673 $78,908,534 $92,067,188 $111,497,200 $121,891,583 $114,594,243 $104,627,524 Total Expenses (41,870,632) (52,876,746) (51,131,232) (49,211,704) (50,470,970) (60,055,642) (71,482,311) (76,996,220) (77,314,812) (78,450,515)
Net Revenues $43,913, 7 24 $26,439,443 $28,9 7 0,1 7 0 $33,21 7 ,969 $28,43 7 ,564 $32,011,546 $40,014,889 $44,895,363 $3 7 ,2 7 9,431 $26,1 77 ,008
Revenues and Expenses per GAAP: Operating Revenues $69,611,575 $67,220,241 $68,051,446 $69,373,717 $70,918,962 $80,379,819 $95,455,051 $104,106,482 $102,083,956 $ 96,738,411 Operating Expenses (65,43 7 , 7 53) ( 7 5,680,915) ( 7 8,424,159) ( 77 ,821, 7 30) (89,408,880) (109,6 7 6, 7 6 7 ) (125,426,950) (135,96 7 ,103) (138,94 7 ,252) (138,0 7 3,410) Operating Income (Loss) $ 4,173,822 $( 8,460,674) $(10,372,713) $( 8,448,013) $(18,489,918) $(29,296,948) $(29,971,899) $(31,860,621) $(36,863,296) $(41,334,999) Other Income, net 26,802,088 22,898, 7 85 23,240,441 19,612,586 14,384, 7 4 7 52,963,041 36,542,423 48,083,552 34,514,934 39,923,0 7 5 Net Income per GAAP $30,975,910 $14,438,111 $12,867,728 $11,164,573 $( 4,105,171) $23,666,093 $ 6,570,524 $16,222,931 $(2,348,362) $(1,411,924)
Add back:(1) Depreciation Expense $21,632,145 $22,630,206 $27,159,055 $28,400,493 $38,649,530 $49,267,402 $53,587,091 $57,672,448 $59,898,853 $57,878,343 Interest Expense on Bonds 8,428,713 12,280,379 15,698,287 9,324,298 14,675,769 19,186,893 18,105,307 18,883,496 17,680,222 16,546,951 Other Post Employment Benefits(2) ------940,887 1,367,511 1,402,669 Repayment of FAA Grants for Richards-Gebaur(3) - 5,517,238 ------Cash provided by Capitalized Interest (4) - - - 3,455,944 ------Amortization of Bond Costs 50,378 105,513 133,872 209,533 288,380 353,723 357,548 357,548 366,076 341,883 Non-Operating Expense - - 348,165 91,017 328,082 2,885,999 273,960 182,266 226,806 275,704
Deduct:(5) PFC Revenue (17,207,518) (16,134,494) (13,686,560) (13,879,589) (13,655,542) (20,252,999) (24,097,730) (23,822,136) (20,159,368) (20,532,775) Operating Grant Revenue (6) ------Capital Grant Revenue - (9,118,124) (7,450,857) (3,258,011) (5,816,648) (40,897,885) (11,915,287) (20,731,257) (17,912,603) (26,766,354 Interest income on PFCs and Bond Accounts(7) (1,324,020) (5,029,598) (5,270,678) (741,224) (61,522) (750,752) (1,195,972) (1,782,281) (1,637,625) (1,037,487) Other Adjustments 1,358,116 1,750,212 ------Other Non-Operating Revenue(8) (9) - - (163,840) (187,230) (614,809) (210,810) (377,681) (2,923,404) (202,079) (520,002) Richards-Gebaur Operating Revenues - - (665,002) (1,361,835) (1,250,505) (1,236,118) (1,292,8 7 1) (105,135) - - Net Revenues available for Debt Service $43,913, 7 24 $26,439,443 $28,9 7 0,1 7 0 $32,21 7 ,969 $28,43 7 ,564 $32,011,546 $40,014,889 $44,895,363 $3 7 ,2 7 9,431 $26,1 77 ,008
(1) Included in expenses presented pursuant to GAAP, but not included in expenses for operating and maintaining the airports pursuant to the bond ordinances.
(2) FY08 data incorporates a change in reporting methodology.
(3) Due to the closing of Richards-Gebaur, the Department repaid the FAA for grant funds (plus interest) received for Richards-Gebaur in prior years.
(4) Not included in revenues presented pursuant to GAAP, but included in revenues available to pay debt service on GARBs pursuant to the bond ordinances.
(5) Included in revenues presented pursuant to GAAP, but not included in revenues available to pay debt service on GARBs pursuant to the bond ordinances.
(6) FY2001 data incorporates a change in reporting methodology.
(7) Interest income on unspent PFC funds; unspent Series 2001 PFC Bond proceeds; and the balances in the accounts established pursuant to the bond ordinances.
(8) The FYE02 adjustments in the bottom of the table have been restated since the continuing disclosure information was prepared in 2003.
(9) The FYE03 adjustments in the bottom of the table have been restated since the continuing disclosure information was prepared in 2004. Statistical Section 100 Debt Capacity Information
Table VI-3 Schedule of Historical Operating and Maintenance Expenses
For The Last Ten Fiscal Years
FYE2001 FYE2002 FYE2003 FYE2004 FYE2005 FYE2006 FYE2007 FYE2008 FYE2009 FYE2010 By Expense Category: Salaries, Wages and Employee Benefits (6) $18,292,675 $20,509,675 $22,365,738 $21,120,771 $22,168,647 $24,007,384 $25,022,038 $26,514,668 $28,831,360 $29,797,055 Contractual Services 15,925,308 25,528,489 26,280,324 25,474,042 25,680,324 33,071,060 42,447,274 46,220,645 44,689,158 44,728,434 Utilities 3,871,593 3,340,415 ------Commodities and Supplies 3,091,249 2,515,840 2,485,170 2,616,891 2,621,999 2,977,198 4,012,999 4,260,908 3,794,294 3,925,026 Property and Liability Insurance 689,80 7 982,32 7 ------Total Operating and Maintenance Expenses $41,8 7 0,632 $52,8 7 6, 7 46 $51,131,232 $49,211, 7 04 $50,4 7 0,9 7 0 $60,055,642 $ 7 1,482,311 $ 7 6,996,221 $ 77 ,314,813 $ 7 8,450,515
By Cost Center: (5) Airline Cost Centers: Direct: Airfield $ 1,804,996 $ 1,874,311 $ 2,082,982 $ 2,228,110 $ 3,770,627 $ 9,652,301 $12,575,269 $14,208,042 $13,969,312 $13,261,370 Terminal Buildings (1) 2,890,832 5,651,782 6,433,716 4,845,484 5,275,536 18,938,426 22,419,935 23,817,480 26,647,999 26,324,594 Terminal Aprons 05,11 80,214 850,807 862,742 947,392 1,132,334 1,825,048 2,023,976 1,971,499 1,919,441 Passenger Boarding Bridges (2) - 583,101 669,095 35,256 823,947 1,486,639 16,889 12,379 19,429 21,558 Indirect: General Administrative 10,662,670 11,257,435 12,892,215 11,671,654 12,993,082 - - - - - Airport Police 3,436,643 4,256,731 5,243,102 4,733,097 4,614,541 - - - - - Heating, Cooling and Ventilation 3,141,574 ------ARFF 2,320,543 2,513,127 2,474,258 2,544,812 2,585,979 - - - - - Terminal Building Structural 1,557,511 ------Field Maintenance Administration 819,091 821,583 862,717 929,613 1,034,322 - - - - - (3) Other 1,154,25 7 1,149,925 1,303,520 2, 7 30,044 2,021,550 - - - - - Total - Airline Cost Centers 28,493,234 28,888,209 32,812,412 31,280,812 34,066,976 31,209,700 36,837,141 40,061,877 42,608,239 41,526,963 (4) Non-Airline Cost Centers 13,3 77 ,398 23,988,53 7 18,318,820 1 7 ,930,892 16,403,994 28,845,942 34,645,1 7 0 36,934,344 36, 7 06,5 7 4 36,923,552 Total Operating and Maintenance Expenses $41,8 7 0,632 $52,8 7 6, 7 46 $51,131,232 $49,211, 7 04 $50,4 7 0,9 7 0 $60,055,642 $ 7 1,482,311 $ 7 6,996,221 $ 77 ,314,813 $ 7 8,450,515
(1)In order to simplify the cost center listing, the heating, cooling, and ventilation cost center and the terminal building structural cost center are combined into the terminal building cost center for FYE02 and FYE04. Both of those cost centers are allocated 100% to the terminal building cost center.
(2)The passenger boarding bridges cost center was added as a separate cost center effective FYE2002.
(3)“Other” represents the following indirect cost centers: ambulance service, apron security posts, support area roads, inter-terminal bus, mobile response, law enforcement officers (LEOs) and baggage handling maintenance.
(4)Operating and maintenance expenses for the following facilities are not charged to the airlines: public parking lots, public parking garage, employee parking facilities, general aviation area, taxicab shelters, and other miscellaneous non-airline facilities.
(5)A new Use and Lease Agreement became effective on May 1, 2005 maintaining four direct cost centers and eliminating 7 indirect cost centers.
(6)Beginning FY2008, data incorporates a change in reporting methodology - excluding OPEB. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 101 Fiscal Years Ending April 30, 2010 and 2009
Table VI-3 Schedule of Historical Operating and Maintenance Expenses
For The Last Ten Fiscal Years
FYE2001 FYE2002 FYE2003 FYE2004 FYE2005 FYE2006 FYE2007 FYE2008 FYE2009 FYE2010 By Expense Category: Salaries, Wages and Employee Benefits (6) $18,292,675 $20,509,675 $22,365,738 $21,120,771 $22,168,647 $24,007,384 $25,022,038 $26,514,668 $28,831,360 $29,797,055 Contractual Services 15,925,308 25,528,489 26,280,324 25,474,042 25,680,324 33,071,060 42,447,274 46,220,645 44,689,158 44,728,434 Utilities 3,871,593 3,340,415 ------Commodities and Supplies 3,091,249 2,515,840 2,485,170 2,616,891 2,621,999 2,977,198 4,012,999 4,260,908 3,794,294 3,925,026 Property and Liability Insurance 689,80 7 982,32 7 ------Total Operating and Maintenance Expenses $41,8 7 0,632 $52,8 7 6, 7 46 $51,131,232 $49,211, 7 04 $50,4 7 0,9 7 0 $60,055,642 $ 7 1,482,311 $ 7 6,996,221 $ 77 ,314,813 $ 7 8,450,515
By Cost Center: (5) Airline Cost Centers: Direct: Airfield $ 1,804,996 $ 1,874,311 $ 2,082,982 $ 2,228,110 $ 3,770,627 $ 9,652,301 $12,575,269 $14,208,042 $13,969,312 $13,261,370 Terminal Buildings (1) 2,890,832 5,651,782 6,433,716 4,845,484 5,275,536 18,938,426 22,419,935 23,817,480 26,647,999 26,324,594 Terminal Aprons 05,11 80,214 850,807 862,742 947,392 1,132,334 1,825,048 2,023,976 1,971,499 1,919,441 Passenger Boarding Bridges (2) - 583,101 669,095 35,256 823,947 1,486,639 16,889 12,379 19,429 21,558 Indirect: General Administrative 10,662,670 11,257,435 12,892,215 11,671,654 12,993,082 - - - - - Airport Police 3,436,643 4,256,731 5,243,102 4,733,097 4,614,541 - - - - - Heating, Cooling and Ventilation 3,141,574 ------ARFF 2,320,543 2,513,127 2,474,258 2,544,812 2,585,979 - - - - - Terminal Building Structural 1,557,511 ------Field Maintenance Administration 819,091 821,583 862,717 929,613 1,034,322 - - - - - (3) Other 1,154,25 7 1,149,925 1,303,520 2, 7 30,044 2,021,550 - - - - - Total - Airline Cost Centers 28,493,234 28,888,209 32,812,412 31,280,812 34,066,976 31,209,700 36,837,141 40,061,877 42,608,239 41,526,963 (4) Non-Airline Cost Centers 13,3 77 ,398 23,988,53 7 18,318,820 1 7 ,930,892 16,403,994 28,845,942 34,645,1 7 0 36,934,344 36, 7 06,5 7 4 36,923,552 Total Operating and Maintenance Expenses $41,8 7 0,632 $52,8 7 6, 7 46 $51,131,232 $49,211, 7 04 $50,4 7 0,9 7 0 $60,055,642 $ 7 1,482,311 $ 7 6,996,221 $ 77 ,314,813 $ 7 8,450,515
(1)In order to simplify the cost center listing, the heating, cooling, and ventilation cost center and the terminal building structural cost center are combined into the terminal building cost center for FYE02 and FYE04. Both of those cost centers are allocated 100% to the terminal building cost center.
(2)The passenger boarding bridges cost center was added as a separate cost center effective FYE2002.
(3)“Other” represents the following indirect cost centers: ambulance service, apron security posts, support area roads, inter-terminal bus, mobile response, law enforcement officers (LEOs) and baggage handling maintenance.
(4)Operating and maintenance expenses for the following facilities are not charged to the airlines: public parking lots, public parking garage, employee parking facilities, general aviation area, taxicab shelters, and other miscellaneous non-airline facilities.
(5)A new Use and Lease Agreement became effective on May 1, 2005 maintaining four direct cost centers and eliminating 7 indirect cost centers.
(6)Beginning FY2008, data incorporates a change in reporting methodology - excluding OPEB. Statistical Section 102 Debt Capacity Information
Table VI-5 Schedule of Historical Revenues(1) FOR THE LAST TEN FISCAL YEARS
% FYE2001 FYE2002 FYE2003 FYE2004 FYE2005 FYE2006 FYE2007 FYE2008 FYE2009 FY2010 Change Airfield: Landing Fees $ 9,043,841 $ 9,018,013 $ 9,635,966 $ 9,545,944 $ 9,358,585 $11,003,143 $12,379,738 $13,144,091 $13,001,311 $13,804,270 6.2% Fuel Flowage Fees 5 7 1,403 515,391 568,694 682,166 680,383 658,951 63 7 ,822 55,25 7 428,2 7 9 229,3 7 2 (46.4) Total Airfield 9,615,244 9,533,404 10,204,660 10,228,110 10,038,968 11,662,094 13,017,560 13,899,348 13,429,590 14,033,642 (4.5) Terminal: Terminal Building: Airline Terminal ,115,268 8,099,347 6,699,753 6,637,060 6,726,506 8,085,546 8,798,380 9,919,574 10,594,929 9,355,593 (11.7) Other Terminal 205,986 649,305 91,12 50,258 33,539 1,029,182 616,804 609,352 844,945 559,298 (33.8) Concessions: Food and Beverage 1,142,622 593,852 630,950 587,303 1,094,493 1,573,199 1,744,031 2,122,205 1,955,650 1,747,254 (10.7) News and Gifts 1,296,798 1,297,95 65,728 862,171 1,398,479 1,639,272 1,149,030 1,224,245 1,028,853 837,215 (18.6) Other Concessions. 50,401 614,791 498,285 439,099 423,383 542,042 665,117 312,502 267,964 285,896 6.7 Terminal Apron Area 2,591,819 2,559,89 7 1,851,504 1,694,001 1,896,698 1,838,118 1,486,668 1,89 7 , 7 6 7 1,651,618 1,698,382 2.8 Total Terminal 13,102,894 13,815,149 11,237,347 10,969,892 12,273,098 14,707,359 14,460,030 16,085,645 16,343,959 14,483,637 (11.4)
Parking Revenue 31,993,244 29,557,225 31,654,833 33,089,817 34,450,836 35,606,188 40,032,941 44,007,005 40,303,290 40,059,593 (0.6) Rental Car Revenue ,773,928 ,238,643 ,290,691 ,864,913 ,829,509 8,372,860 8,817,410 10,695,864 10,891,442 9,825,488 (9.8) Aviation Service Area 3,506,368 4,036,332 3,782,221 3,559,507 2,679,955 4.594,393 10,576,261 9,728,175 9,873,639 8,221,341 (16.7) Other Property/Other Revenue 3,620,506 3,119,611 3,216,692 2,299,644 2,396,089 2,440,441 2,961,357 5,045,088 ,124,115 6,377,218 (10.5) Operating Grant (2) 123,049 1,223,993 3,022,340 936,958 136,058 130,359 168,117 185,220 290,638 315,569 8.6 Customer Facility Charges(3) 1,776,234 6,186,432 5,792,046 5,886,939 5,976,731 6,147,691 6,456,360 6,809,736 6,170,584 5,439,585 (11.8) Transportation Facility Charge (4) - - - - - 1,760,366 4,296,620 4,540,222 4,117,922 3,737,492 (9.2) Earnings on Cash and Investments 14,2 7 2,889 4,605,400 3,900,5 7 2 4,13 7 ,949 3,12 7 ,290 6,645,43 7 10, 7 10,544 10,895,280 6,049,066 2,133,958 (64. 7 )
Total Revenue $85, 7 84,356 $ 7 9,316,189 $80,101,402 $ 7 8,9 7 3, 7 29 $ 7 8,908,534 $92,06 7 ,188 $111,49 7 ,200 $121,891,583 $114,594,245 $104,62 7 ,524 (8. 7 )
(1)Revenues presented in accordance with the methodology set forth in the GARB bond ordinances.
(2) The data incorporates a change in reporting methodology that includes Operating Grant starting in 1999.
(3)The Department began collecting rental car Customer Facility Charge (“CFC”) Revenues on January 1, 2001.
(4)The Department began collecting rental car Transportation Facility Charge (“TFC”) Revenues on November 1, 2005. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 103 Fiscal Years Ending April 30, 2010 and 2009
Table VI-5 Schedule of Historical Revenues(1) FOR THE LAST TEN FISCAL YEARS
% FYE2001 FYE2002 FYE2003 FYE2004 FYE2005 FYE2006 FYE2007 FYE2008 FYE2009 FY2010 Change Airfield: Landing Fees $ 9,043,841 $ 9,018,013 $ 9,635,966 $ 9,545,944 $ 9,358,585 $11,003,143 $12,379,738 $13,144,091 $13,001,311 $13,804,270 6.2% Fuel Flowage Fees 5 7 1,403 515,391 568,694 682,166 680,383 658,951 63 7 ,822 55,25 7 428,2 7 9 229,3 7 2 (46.4) Total Airfield 9,615,244 9,533,404 10,204,660 10,228,110 10,038,968 11,662,094 13,017,560 13,899,348 13,429,590 14,033,642 (4.5) Terminal: Terminal Building: Airline Terminal ,115,268 8,099,347 6,699,753 6,637,060 6,726,506 8,085,546 8,798,380 9,919,574 10,594,929 9,355,593 (11.7) Other Terminal 205,986 649,305 91,12 50,258 33,539 1,029,182 616,804 609,352 844,945 559,298 (33.8) Concessions: Food and Beverage 1,142,622 593,852 630,950 587,303 1,094,493 1,573,199 1,744,031 2,122,205 1,955,650 1,747,254 (10.7) News and Gifts 1,296,798 1,297,95 65,728 862,171 1,398,479 1,639,272 1,149,030 1,224,245 1,028,853 837,215 (18.6) Other Concessions. 50,401 614,791 498,285 439,099 423,383 542,042 665,117 312,502 267,964 285,896 6.7 Terminal Apron Area 2,591,819 2,559,89 7 1,851,504 1,694,001 1,896,698 1,838,118 1,486,668 1,89 7 , 7 6 7 1,651,618 1,698,382 2.8 Total Terminal 13,102,894 13,815,149 11,237,347 10,969,892 12,273,098 14,707,359 14,460,030 16,085,645 16,343,959 14,483,637 (11.4)
Parking Revenue 31,993,244 29,557,225 31,654,833 33,089,817 34,450,836 35,606,188 40,032,941 44,007,005 40,303,290 40,059,593 (0.6) Rental Car Revenue ,773,928 ,238,643 ,290,691 ,864,913 ,829,509 8,372,860 8,817,410 10,695,864 10,891,442 9,825,488 (9.8) Aviation Service Area 3,506,368 4,036,332 3,782,221 3,559,507 2,679,955 4.594,393 10,576,261 9,728,175 9,873,639 8,221,341 (16.7) Other Property/Other Revenue 3,620,506 3,119,611 3,216,692 2,299,644 2,396,089 2,440,441 2,961,357 5,045,088 ,124,115 6,377,218 (10.5) Operating Grant (2) 123,049 1,223,993 3,022,340 936,958 136,058 130,359 168,117 185,220 290,638 315,569 8.6 Customer Facility Charges(3) 1,776,234 6,186,432 5,792,046 5,886,939 5,976,731 6,147,691 6,456,360 6,809,736 6,170,584 5,439,585 (11.8) Transportation Facility Charge(4) - - - - - 1,760,366 4,296,620 4,540,222 4,117,922 3,737,492 (9.2) Earnings on Cash and Investments 14,2 7 2,889 4,605,400 3,900,5 7 2 4,13 7 ,949 3,12 7 ,290 6,645,43 7 10, 7 10,544 10,895,280 6,049,066 2,133,958 (64. 7 )
Total Revenue $85, 7 84,356 $ 7 9,316,189 $80,101,402 $ 7 8,9 7 3, 7 29 $ 7 8,908,534 $92,06 7 ,188 $111,49 7 ,200 $121,891,583 $114,594,245 $104,62 7 ,524 (8. 7 )
(1)Revenues presented in accordance with the methodology set forth in the GARB bond ordinances.
(2) The data incorporates a change in reporting methodology that includes Operating Grant starting in 1999.
(3)The Department began collecting rental car Customer Facility Charge (“CFC”) Revenues on January 1, 2001.
(4)The Department began collecting rental car Transportation Facility Charge (“TFC”) Revenues on November 1, 2005. Statistical Section 104 Debt Capacity Information
Table VI-13 Schedule of PFC Revenues
For The Last Ten Fiscal Years
2001 2002 2003 2004 2005 Total Enplanements [A] (1) 6,145,608 5,593,527 4,987,421 4,905,086 5,036,889
% of PFC Enplaned Passengers [B]
PFC Enplaned Passengers [C = A x B] This information was presented in the Report of the Airport Consultant on a projected basis to calculate projected PFC PFC Exempt Air Carriers [D] revenues. However, this calculation is not relevant for the pre- sentation of historical PFC Revenues. PFC Eligible Enplanements [E= C-D]
PFC Rate [F]
PFC Revenues [G = E x F] (2) $17,207,518 $16,134,494 $13,686,560 $13,879,589 $13,655,542
2006 2007 2008 2009 2010 Total Enplanements [A] (1) 5,112,330 5,610,488 5,905,988 5,058,885 4,939,032
% of PFC Enplaned Passengers [B]
PFC Enplaned Passengers [C = A x B] This information was presented in the Report of the Airport Consultant on a projected basis to calculate projected PFC PFC Exempt Air Carriers [D] revenues. However, this calculation is not relevant for the pre- sentation of historical PFC Revenues. PFC Eligible Enplanements [E= C-D]
PFC Rate [F]
PFC Revenues [G = E x F] (2) $20,252,999 $24,097,730 $23,822,136 $20,159,368 $20,532,775
(1)Fiscal year enplanements from Table VI-10.
(2)PFC revenues are obtained from the Department’s audited financial statements. June 2005 was the initial allowable increase in the PFC rate from $3.00 to $4.50. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 105 Fiscal Years Ending April 30, 2010 and 2009
Table VI-14 Schedule of PFC Bond Sufficiency Covenant For The Last Nine Fiscal Years* (in $ millions, except Sufficiency Test Covenant)
FYE2002 FYE2003 FYE2004 FYE2005 FYE2006 Sufficiency Covenant:
PFC Authority(1) $338.9 $338.9 $338.9 $377.1 $377.1
Less: PFC Pay-As-You-Go costs paid to date(2) (85.1) (81.0) (79.6) (95.1) (88.2) PFC Pay-As-You-Go contractual commitments(3) (0.0) ( 0.0) ( 0.0) ( 0.0) ( 0.0) Debt service paid to date on the Series 2001 Bonds (4.5) (15.0) (25.4) (35.8) (46.1) Projected debt service on any junior lien bonds (0.0) ( 0.0) ( 0.0) ( 0.0) ( 0.0) Plus: Funds on deposit on any junior lien bonds 0.0 0.0 0.0 0.0 0.0 Subtotal (A) $249.3 $242.9 $233.9 $246.2 $242.8
Debt Service Requirements (B) $232.5 $231.0 $220.1 $209.8 $199.5
Sufficiency Test Covenant (must be at least 1.05) (A/B) 1.07 1.05 1.06 1.17 1.22
FYE2007 FYE2008 FYE2009 (4) FYE2010 Sufficiency Covenant:
PFC Authority(1) $425.0 $425.0 $378.5 $404.1
Less: PFC Pay-As-You-Go costs paid to date(2) (115.5) (115.6) (122.5) (130.7) PFC Pay-As-You-Go contractual commitments(3) (0.0) (0.0) (0.0) 0.0 Debt service paid to date on the Series 2001 Bonds (56.3) ( 66.5) (76.7) (86.9) Projected debt service on any junior lien bonds (0.0) (0.0) (0.0) 0.0
Plus: Funds on deposit on any junior lien bonds 0.0 0.0 0.0 0.0 Subtotal (A) $253.2 $242.9 $179.3 $186.5
Debt Service Requirements (B) $189.2 $179.1 $159.6 $149.3
Sufficiency Test Covenant (must be at least 1.05) (A/B) 1.34 1.36 1.12 1.25
*The PFC Bonds were issued in FYE2002 (August 2001), and therefore only nine fiscal years of data is being presented.
(1)PFC Authority approved by the FAA.
(2)Includes PFC Pay-As-You-Go costs related to approved PFC applications.
(3)PFC Pay-As-You-Go contractual commitments that have not yet been paid. For purposes of this analysis, it is assumed that all contractual commitments are paid as incurred.
(4)In FYE2009 the debt service requirement decreased by $20.0 million due to the PFC debt service reserve. Statistical Section 106 Demographic and Economic Information
Schedule of Population
Metropolitan Statistical Area and Air Service Area
Square Miles 1980 1990 2000 2009(1) Metropolitan Statistical Area (MSA):
Missouri: Bates 848 15,873 15,025 16,653 16,761 Caldwell 429 8,660 8,380 8,969 9,160 Cass 699 51,029 63,808 82,092 100,184 Clay 396 136,488 153,411 184,006 228.358 Clinton 419 15,916 16,595 18,979 21,002 Jackson 605 629,266 633,232 654,880 705,708 Lafayette 629 29,931 31,107 32,960 32,572 Platte 420 46,341 57,867 73,781 90,688 Ray 570 21,378 21,971 23,354 23,358
Kansas: Franklin 574 22,062 21,994 24,784 26,441 Johnson 477 270,269 355,054 451,086 542,737 Leavenworth 463 54,809 64,371 68,691 75,227 Linn 599 8,234 8,254 9,570 9,335 Miami 577 21,618 23,466 28,351 30,969 Wyandotte 151 172,335 161,993 157,882 155,085
Total MSA 7,856 1,504,209 1,636,528 1,836,038 2,067,585
Air Service Area (ASA):
Missouri: Buchanan 410 87,888 83,083 85,998 89,856
Kansas: Douglas 465 6 7 ,640 81, 7 98 99,962 116,383 Total ASA 8 7 5 155,528 164,881 185,960 206,239
Total Area 8, 7 31 1,659, 7 3 7 1,801,409 2,021,998 2,2 7 3,824
Source: www.census.gov
(1)U.S. Census Bureau, 2009 population estimate. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 107 Fiscal Years Ended April 30, 2010 and 2009
Schedule of Principal Employers (1) Kansas City Metropolitan Area
Percent of Total Employers Type of Business No. of Employees** City Employment
Federal Government Government 37,000 3.86% Sprint Nextel Corp Wireless Telecommunications 12,000 1.25 McDonald’s USA Quick-Service Restaurant 7,000 0.73 St. Luke’s Health Systems. Health Care Provider 6,403 0.67 State of Missouri Government 6,146 0.64 HCA Midwest Health Systems Health Care Provider 5,296 0.55 AT&T Telecommunications 5,230 0.55 Cerner Corp Health Care Information Technology 4,800 0.50 City of Kansas City MO Government 4,669 0.49 Children’s Mercy Hospitals & Clinics. Pediatric Specialty Heath Care 4,63 0.48 Olathe School District Education 4,5 0.48 State of Kansas Government 4,542 0.47 Ford Motor Company Automotive Assembly 4,465 0.47 DST Systems, Inc Information Processing & Computer Software Services 4,425 0.46 Hallmark Cards Inc. Greeting Cards, Expression Products, Television Programing 4,000 0.42 KCK Public Schools Education 3,829 0.40
Total employment Kansas City MSA (2) 957,822
(1)Source: Kansas City Business Journal, 2009 (2)Source: Bureau of Labor Statistics of the U.S. Department of Labor Statistical Section 108 Operating Information
Schedule of Rates and Charges
FYE2003 FYE2004 FYE2005 FYE2006 FYE2007
Landing Fee, Signatory (per 1,000lbs.) $ 1.07 $ 1.10 $ 1.10 $ 1.35 $ 1.43 Terminal Aircraft Apron (lineal foot) 284.11 284.11 258.11 202.33 196.72 Terminal Building (per sq.ft.) 27.90 27.90 24.41 24.39 26.67 Passenger Boarding Bridges (per month) 1,671.45 1,671.45 1,807.00 2,592.00 1,407.75 Passenger Facility Charges (per enplanement) 3.00 3.00 3.00 4.50 4.50 Customer Facility Fees (per contract day) 3.00 3.00 3.00 3.00 3.00 Transportation Facility Charge - - - 2.00 2.00 Remaining Overnight Parking Fee 125.00 125.00 125.00 125.00 129.00 FIS Custom Facility Use Fee 2.50 2.50 2.50 2.50 2.50 Employee Parking (changed Jan 03) 24.00 24.00 24.00 24.00 24.00 Tenant Terminal Parking Fee (per month) - 35.00 35.00 35.00 35.00 Taxicab/Limousine Fee (per pickup) - 1.00 1.00 1.00 1.00 Shuttle Fee (per trip, min. $30 per month) - 0.50 0.50 0.50 0.50 Fuel Flowage Fee (per gallon) (1) - - 0.073 0.080 0.080
FYE2008 FYE2009 FYE2010
(2) (3) Landing Fee, Signatory (per 1,000lbs.) $ 1.46 $ 1.52 $ 1.90 (2) (3) Terminal Aircraft Apron (lineal foot) 208.92 214.14 212.80 (2) (3) Terminal Building (per sq.ft.) 26.31 30.21 30.39 (2) (3) Passenger Boarding Bridges (per month) 1,361.08 1,142.92 1,796.50 Passenger Facility Charges (per enplanement) 4.50 4.50 4.50 Customer Facility Fees (per contract day) 3.00 3.00 3.00 Transportation Facility Charge 2.00 2.00 2.10 Remaining Overnight Parking Fee 133.00 133.33 133.33 FIS Custom Facility Use Fee 2.50 2.50 2.50 Employee Parking (changed Jan 03) 24.00 24.00 24.00 Tenant Terminal Parking Fee (per month) 60.00 60.00 60.00 Taxicab/Limousine Fee (per pickup) 1.00 1.00 1.00 Shuttle Fee (per trip, min. $30 per month) 0.50 0.50 0.50 Fuel Flowage Fee (per gallon) (1) 0.080 0.080 0.080
(1) Fuel flowage increase implemented April 1, 2006 (2) Rates and Charges per FYE08 Settlement (3) Rates and Charges contain budgeted amounts; FYE09 Settlement pending City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 109 Fiscal Years Ended April 30, 2010 and 2009
Parking
Facility Time Period FYE06 FYE07 FYE08 FYE09 FYE10 Terminal Parking Lot A, B, and C 0 - 1/2hr. Free Free Free Free $ 1.00 1/2 - 1hr. $ 1.00 $ 2.00 $ 2.00 $ 2.00 3.00 1 - 2 hrs. 2.00 4.00 4.00 4.00 6.00 2 - 3 hrs. 4.00 6.00 6.00 6.00 8.00 3 - 4 hrs. 6.00 8.00 8.00 8.00 10.00 4 - 5 hrs. 8.00 10.00 10.00 10.00 12.00 5 - 6 hrs. 10.00 12.00 12.00 12.00 15.00 6 - 7 hrs. 12.00 14.00 14.00 14.00 18.00 - 8 hrs. 14.00 16.00 16.00 16.00 20.00 8 - 9 hrs. 16.00 18.00 18.00 18.00 20.00 - 24hrs. daily maximum 18.00 18.00 18.00 18.00 20.00
Circle Parking Lot E 0 - 1/2 hr. Free Free Free Free $ 1.00 1/2 - 1 hr. $ 1.00 $ 2.00 $ 2.00 $ 2.00 3.00 1 - 2 hrs. 2.00 4.00 4.00 4.00 6.00 2 - 3 hrs. 4.00 6.00 6.00 6.00 9.00 3 - 4 hrs. 6.00 8.00 8.00 8.00 12.00 4 - 5 hrs. 8.00 10.00 10.00 10.00 13.00 4 - 24hrs. daily maximum 10.00 12.00 12.00 12.00 13.00
Economy Parking Lot 0 - 1/2hr. Free Free Free Free Free 1/2 - 24hrs. $ 5.00 $ 5.50 $ 5.50 $ 5.50 $ 6.00 Statistical Section 110 Operating Information
Schedule of Facility Information
Kansas City International Airport
Size (acres): 10,725 Elevation (ft): 1,026 Airport code: MCI
Runways: 1L/19R 10,801 x 150ft 1R/19L 9,500 x 150ft 9 /27 9,500 x 150ft
Terminal information: Terminal A Terminal B Terminal C Total Boarding gates 25 19 22 66 Passenger boarding bridges 17 16 15 48 Food and beverages areas 8 13 7 28 News/gifts area 6 5 4 15 Business traveler services areas 2 4 3 9
Parking (number of spaces): Terminal A 2,000 Terminal B 2,000 Terminal C 2,250 Circle “E” 1,850 Economy A 3,734 Economy B 5,917 Economy C 5,612 Park Air Express 5,612 Total all public lots 24,531
Employee parking 1,500
Charles B. Wheeler Downtown Airport
Size (acres): 697 Elevation (ft): 759 Airport code: MKC
Runways: 1/19 7,002 x 150ft 3/21 5,050 x 150ft Operations: Domestic Commuter/ General Year Air Carrier Air Taxi All-Cargo Aviation Military Total
2002 82 20,166 0 103,079 1,133 124,460 2003 34 19,213 0 97,434 830 117,511 2004 42 19,922 0 86,630 1,056 107,650 2005 16 15,028 0 85,871 564 101,479 2006 26 14,124 0 68,900 678 83,728 2007 101 16,910 0 9,759 1,154 97,924 2008 133 16,218 0 67,088 1,239 84,678 2009 168 17,684 0 64,325 1,658 83,835
Richards-Gebaur
Size (acres): 53.48 City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 111 Fiscal Years Ending April 30, 2010 and 2009
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Statistical Section 112 Operating Information
Schedule of Department of Aviation Operating Expenditures By Division
Division Salaries, Wages and Employee Benefits Commodities FYE05 FYE06 FYE07 FYE08 FYE09 FYE10 FYE05 FYE06 FYE07 FYE08 FYE09 FY10 Administration $ 794,016 $ 952,418 $ 999,609 $ 1,033,755 $ 1,303,841 $ 1,162,906 $ 28,562 $ 18,496 $ 34,084 $ 42,305 $ 26,485 $ 24,218 Accounting & Finance 1,495,603 1,269,353 1,325,829 1,300,162 1,434,329 1,336,507 11,375 1,895 51,607 41,410 38,560 22,333 Information Technology 454,327 597,325 544,910 06,043 612,271 685,791 129,909 212,921 177,723 201,128 205,583 148,701 Engineering 994,181 906,155 843,760 977,928 1,167,812 1,079,833 11,706 12,723 18,529 14,612 12,975 13,361 Human Resources 255,668 154,819 212,142 190,624 165,954 176,836 2,405 4,719 6,400 5,436 6,755 4,028 Marketing 517,218 546,031 609,661 607,333 681,453 650,229 11,538 12,579 ,390 12,560 14,248 14,897 Economic Development 28,537 699,568 655,193 96,733 22,836 692,402 24,923 149,831 158,386 606,511 218,200 134,454 Parking Operations - - - - 197,630 200,632 - - - 21,712 115,762 90,584 11500 Parking ------140,360 CBW Downtown Airport 684,930 57,625 33,694 826,618 880,304 1,054,423 169,746 185,612 165,956 174,968 174,410 295,478 Richards-Gebaur ------Ambassador Building ------19,078 5,344 54,799 Operations 764,571 923,217 887,990 1,035,752 1,148,787 1,273,759 33,360 30,287 13,541 45,644 20,888 28,503 Airport Police 4,512,540 5,037,296 5,148,503 5,588,259 5,963,100 6,530,168 50,633 100,732 4,770 383,59 336,632 215,783 Field Maintenance 2,590,070 2,839,374 3,323,323 3,673,682 4,021,930 4,349,150 1,034,746 917,819 1,501,777 1,391,052 1,233,966 922,452 Fleet Maintenance 755,446 865,127 957,625 1,027,575 1,169,680 1,279,117 681,273 91,071 909,259 477,219 616,897 1,020,938 Facilities Custodial 3,235,297 3,315,372 3,196,643 3,722,864 4,344,478 4,247,452 288,271 363,383 427,572 483,844 401,333 440,698 Facilities Structural 1,465,550 1,628,172 1,754,338 1,938,849 2,086,210 2,010,165 120,792 87,368 440,599 321,378 348,324 335,915 Bus Operations - - - 3,525,562 3,798,685 3,967,497 - - - 13,366 12,110 11,071 Parking & Bus 2,826,189 3,051,577 3,328,585 - - - 13,921 9,458 15,763 - - - Environmental Management 94,504 314,885 293,131 310,210 326,681 345,430 8,839 5,849 4,549 2,824 3,079 1,928 Safety - 149,070 205,744 ,193,643 165,972 157,430 - - 2,455 5,059 2,264 2,743 4,525 Art & Aesthetics ------Youth Program - - - - 6,000 ------Maintenance Projects - - 1,358 (38) 918 - - - - 35 - - - Totals $22,168,64 7 $24,00 7 ,384 $25,022,038 $2 7 ,455,554 $30,198,8 7 1 $31,199, 7 24 $ 2,621,999 $ 2,9 77 ,198 $ 4,012,999 $ 4,260,908 $ 3, 7 94,294 $ 3,925,026 Division Contractual Services Totals FYE05 FYE06 FYE07 FYE08 FYE09 FY10 FYE05 FYE06 FYE07 FYE08 FYE09 FYE10 Administration $ 200,862 $ 638,037 $ 1,451,787 $ 650,486 $ 277,153 $ 224,820 $ 1,023,440 $ 1,608,951 $ 2,485,480 $ 1,726,546 $ 1,607,479 $ 1,411,944 Accounting & Finance 964,740 544,386 476,418 472,340 484,552 452,735 2,471,718 1,885,634 1,853,854 1,813,912 1,957,441 1,811,575 Information Technology 2,387,423 1,046,069 891,264 857,235 1,060,018 1,808,517 2,971,659 1,856,315 1,613,897 1,764,406 1,877,872 2,643,009 Engineering 241,313 250,614 366,439 448,112 421,182 306,884 1,247,200 1,169,492 1,228,728 1,440,652 1,601,969 1,400,079 Human Resources 226,312 184,831 177,244 155,301 139,756 96,725 484,385 344,369 395,786 351,361 312,465 277,589 Marketing 919,874 1,092,109 1,076,772 1,276,669 993,400 1,051,223 1,448,630 1,650,719 1,693,823 1,896,562 1,689,101 1,716,349 Economic Development 1,878,810 4,550,436 ,100,311 ,663,731 ,474,735 5,786,771 2,632,270 5,399,835 ,913,890 9,066,975 8,415,771 6,613,626 Parking Operations - - - 1,974,675 5,056,689 5,402,192 - - - 1,996,38 5,370,081 5,693,408 11500 Parking - - - - - 1,061,839 - - - - - 1,202,199 CBW Downtown Airport 678,772 10,650 685,702 810,769 819,190 929,340 1,533,448 1,653,887 1,585,352 1,812,355 1,873,904 2,279,241 Richards-Gebaur 193,141 89,663 353,751 9,594 12,692 2,323 193,141 89,663 353,751 9,594 12,692 2,323 Ambassador Building - - - 567,975 16,396 965,882 - - 587,053 721,740 1,020,681 Operations 2,610,554 2,592,112 2,678,137 3,366,964 261,239 319,034 3,408,485 3,545,616 3,579,668 4,448,360 1,430,914 1,621,296 Airport Police 1,872,778 1,951,223 2,073,535 1,940,110 5,410,019 5,196,696 6,435,951 ,089,251 ,296,808 ,911,966 11,709,751 11,942,646 Field Maintenance 494,655 479,974 491,223 564,386 605,950 552,446 4,119,471 4,237,167 5,316,323 5,629,120 5,861,846 5,824,047 Fleet Maintenance 381,247 663,510 576,13 34,319 01,139 05,093 1,817,966 2,319,708 2,443,021 2,239,113 2,487,716 3,005,147 Facilities Custodial 893,258 809,399 811,930 824,939 861,785 898,476 4,416,826 4,488,154 4,436,145 5,031,64 5,607,596 5,586,626 Facilities Structural 6,087,855 9,989,406 15,012,588 15,459,055 16,276,529 16,220,361 7,674,197 11,704,946 17,207,525 17,719,282 18,711,063 18,566,440 Bus Operations - - - 3,913,584 5,493 847,714 - - ,452,512 4,586,288 4,826,282 Parking & Bus 4,016,427 5,339,132 5,187,726 - - - 6,856,537 8,400,167 8,532,074 - - - Environmental Management 462,035 418,686 547,200 827,507 648,074 565,205 565,378 39,420 844,880 1,140,541 977,834 912,564 Safety - 22,497 118,452 128,796 115,797 127,349 - 174,022 329,255 324,703 284,512 289,304 Art & Aesthetics 5,156 4,781 - 49,324 - - 5,156 4,781 - 49,324 - - Youth Program - - - - 23,187 - - - - - 29,187 - Maintenance Projects 1,165,112 1,693,545 2,3 7 0,658 3,524, 77 4 1,554,183 1,206,809 1,165,112 1,693,545 2,3 7 2,051 3,524, 7 36 1,555,101 1,206,809 Totals $25,680,324 $33,0 7 1,060 $42,44 7 ,2 7 4 $46,220,645 $44,689,158 $44, 7 28,434 $50,4 7 0,9 7 0 $60,055,642 $ 7 1,482,311 $ 77 ,93 7 ,10 $ 7 8,682,323 $ 7 9,853,184 City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 113 Fiscal Years Ended April 30, 2010 and 2009
Schedule of Department of Aviation Operating Expenditures By Division
Division Salaries, Wages and Employee Benefits Commodities FYE05 FYE06 FYE07 FYE08 FYE09 FYE10 FYE05 FYE06 FYE07 FYE08 FYE09 FY10 Administration $ 794,016 $ 952,418 $ 999,609 $ 1,033,755 $ 1,303,841 $ 1,162,906 $ 28,562 $ 18,496 $ 34,084 $ 42,305 $ 26,485 $ 24,218 Accounting & Finance 1,495,603 1,269,353 1,325,829 1,300,162 1,434,329 1,336,507 11,375 1,895 51,607 41,410 38,560 22,333 Information Technology 454,327 597,325 544,910 06,043 612,271 685,791 129,909 212,921 177,723 201,128 205,583 148,701 Engineering 994,181 906,155 843,760 977,928 1,167,812 1,079,833 11,706 12,723 18,529 14,612 12,975 13,361 Human Resources 255,668 154,819 212,142 190,624 165,954 176,836 2,405 4,719 6,400 5,436 6,755 4,028 Marketing 517,218 546,031 609,661 607,333 681,453 650,229 11,538 12,579 ,390 12,560 14,248 14,897 Economic Development 28,537 699,568 655,193 96,733 22,836 692,402 24,923 149,831 158,386 606,511 218,200 134,454 Parking Operations - - - - 197,630 200,632 - - - 21,712 115,762 90,584 11500 Parking ------140,360 CBW Downtown Airport 684,930 57,625 33,694 826,618 880,304 1,054,423 169,746 185,612 165,956 174,968 174,410 295,478 Richards-Gebaur ------Ambassador Building ------19,078 5,344 54,799 Operations 764,571 923,217 887,990 1,035,752 1,148,787 1,273,759 33,360 30,287 13,541 45,644 20,888 28,503 Airport Police 4,512,540 5,037,296 5,148,503 5,588,259 5,963,100 6,530,168 50,633 100,732 4,770 383,59 336,632 215,783 Field Maintenance 2,590,070 2,839,374 3,323,323 3,673,682 4,021,930 4,349,150 1,034,746 917,819 1,501,777 1,391,052 1,233,966 922,452 Fleet Maintenance 755,446 865,127 957,625 1,027,575 1,169,680 1,279,117 681,273 91,071 909,259 477,219 616,897 1,020,938 Facilities Custodial 3,235,297 3,315,372 3,196,643 3,722,864 4,344,478 4,247,452 288,271 363,383 427,572 483,844 401,333 440,698 Facilities Structural 1,465,550 1,628,172 1,754,338 1,938,849 2,086,210 2,010,165 120,792 87,368 440,599 321,378 348,324 335,915 Bus Operations - - - 3,525,562 3,798,685 3,967,497 - - - 13,366 12,110 11,071 Parking & Bus 2,826,189 3,051,577 3,328,585 - - - 13,921 9,458 15,763 - - - Environmental Management 94,504 314,885 293,131 310,210 326,681 345,430 8,839 5,849 4,549 2,824 3,079 1,928 Safety - 149,070 205,744 ,193,643 165,972 157,430 - - 2,455 5,059 2,264 2,743 4,525 Art & Aesthetics ------Youth Program - - - - 6,000 ------Maintenance Projects - - 1,358 (38) 918 - - - - 35 - - - Totals $22,168,64 7 $24,00 7 ,384 $25,022,038 $2 7 ,455,554 $30,198,8 7 1 $31,199, 7 24 $ 2,621,999 $ 2,9 77 ,198 $ 4,012,999 $ 4,260,908 $ 3, 7 94,294 $ 3,925,026 Division Contractual Services Totals FYE05 FYE06 FYE07 FYE08 FYE09 FY10 FYE05 FYE06 FYE07 FYE08 FYE09 FYE10 Administration $ 200,862 $ 638,037 $ 1,451,787 $ 650,486 $ 277,153 $ 224,820 $ 1,023,440 $ 1,608,951 $ 2,485,480 $ 1,726,546 $ 1,607,479 $ 1,411,944 Accounting & Finance 964,740 544,386 476,418 472,340 484,552 452,735 2,471,718 1,885,634 1,853,854 1,813,912 1,957,441 1,811,575 Information Technology 2,387,423 1,046,069 891,264 857,235 1,060,018 1,808,517 2,971,659 1,856,315 1,613,897 1,764,406 1,877,872 2,643,009 Engineering 241,313 250,614 366,439 448,112 421,182 306,884 1,247,200 1,169,492 1,228,728 1,440,652 1,601,969 1,400,079 Human Resources 226,312 184,831 177,244 155,301 139,756 96,725 484,385 344,369 395,786 351,361 312,465 277,589 Marketing 919,874 1,092,109 1,076,772 1,276,669 993,400 1,051,223 1,448,630 1,650,719 1,693,823 1,896,562 1,689,101 1,716,349 Economic Development 1,878,810 4,550,436 ,100,311 ,663,731 ,474,735 5,786,771 2,632,270 5,399,835 ,913,890 9,066,975 8,415,771 6,613,626 Parking Operations - - - 1,974,675 5,056,689 5,402,192 - - - 1,996,38 5,370,081 5,693,408 11500 Parking - - - - - 1,061,839 - - - - - 1,202,199 CBW Downtown Airport 678,772 10,650 685,702 810,769 819,190 929,340 1,533,448 1,653,887 1,585,352 1,812,355 1,873,904 2,279,241 Richards-Gebaur 193,141 89,663 353,751 9,594 12,692 2,323 193,141 89,663 353,751 9,594 12,692 2,323 Ambassador Building - - - 567,975 16,396 965,882 - - 587,053 721,740 1,020,681 Operations 2,610,554 2,592,112 2,678,137 3,366,964 261,239 319,034 3,408,485 3,545,616 3,579,668 4,448,360 1,430,914 1,621,296 Airport Police 1,872,778 1,951,223 2,073,535 1,940,110 5,410,019 5,196,696 6,435,951 ,089,251 ,296,808 ,911,966 11,709,751 11,942,646 Field Maintenance 494,655 479,974 491,223 564,386 605,950 552,446 4,119,471 4,237,167 5,316,323 5,629,120 5,861,846 5,824,047 Fleet Maintenance 381,247 663,510 576,13 34,319 01,139 05,093 1,817,966 2,319,708 2,443,021 2,239,113 2,487,716 3,005,147 Facilities Custodial 893,258 809,399 811,930 824,939 861,785 898,476 4,416,826 4,488,154 4,436,145 5,031,64 5,607,596 5,586,626 Facilities Structural 6,087,855 9,989,406 15,012,588 15,459,055 16,276,529 16,220,361 7,674,197 11,704,946 17,207,525 17,719,282 18,711,063 18,566,440 Bus Operations - - - 3,913,584 5,493 847,714 - - ,452,512 4,586,288 4,826,282 Parking & Bus 4,016,427 5,339,132 5,187,726 - - - 6,856,537 8,400,167 8,532,074 - - - Environmental Management 462,035 418,686 547,200 827,507 648,074 565,205 565,378 39,420 844,880 1,140,541 977,834 912,564 Safety - 22,497 118,452 128,796 115,797 127,349 - 174,022 329,255 324,703 284,512 289,304 Art & Aesthetics 5,156 4,781 - 49,324 - - 5,156 4,781 - 49,324 - - Youth Program - - - - 23,187 - - - - - 29,187 - Maintenance Projects 1,165,112 1,693,545 2,3 7 0,658 3,524, 77 4 1,554,183 1,206,809 1,165,112 1,693,545 2,3 7 2,051 3,524, 7 36 1,555,101 1,206,809 Totals $25,680,324 $33,0 7 1,060 $42,44 7 ,2 7 4 $46,220,645 $44,689,158 $44, 7 28,434 $50,4 7 0,9 7 0 $60,055,642 $ 7 1,482,311 $ 77 ,93 7 ,10 $ 7 8,682,323 $ 7 9,853,184 Statistical Section 114 Operating Information
Schedule of Department of Aviation Full-Time and Equivalent Positions By Division
Division FYE04 FYE05 FYE06 FYE07 FYE08 FYE09 FYE10
Administration 10 11 8 9 9 8 7 Accounting and Finance 27 27 27 26 26 23 20 Information Technology 11 2 - - - - - Engineering 20 19 16 14 14 12 12 Human Resources 5 3 4 4 4 3 3 Marketing 8 8 8 8 8 7 6 Economic Development 14 11 10 10 10 8 8 Parking - - - - - 1 2 Downtown Airport 13 15 17 16 17 18 15 Operations 11 12 16 17 16 16 16 Airport Police 129 144 128 126 126 124 106 Field Maintenance 74 2 4 1 71 71 60 Fleet Maintenance 16 16 16 17 17 16 16 Facilities Custodial 92 94 94 94 94 94 79 Facilities Structural 36 34 34 35 34 32 27 Bus - - - - 102 83 77 Parking and Bus 66 67 104 101 - - - Environmental Management - 2 3 3 3 3 3 Safety - 3 3 3 3 2 2 Total 532 540 562 554 554 521 459
Source: Kansas City Aviation Department records. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 115 Fiscal Years Ended April 30, 2010 and 2009
Schedule of Assets Capitalized For the year ending April 30, 2010
Buildings and Building Improvements: Tee Hangar Complex Rehabilitaion $ 18,534,573 Snow Removal Equipment Storage Building 7,023,626 Fleet Building Addition 5,109,255 Aviation Facility Development 4,499,360 Storage Building Improvements 1,451,121 Inline Baggage Screening 1,272,685 Tenant Improvements 1,137,631 CNG Facility Expansion 1,040,230 Overhaul Base Plant Rehabilitation 1,497,422 Rental Car Facility 677,514 Terminal Carpet Replacement 280,090 HVAC Upgrade at 250 Richards Road 221,022 Rental Car Bus Facility 123,009 Terminal Building HVAC Improvements 88,3 7 4 Total Buildings and Building Improvements 42,955,912
Infrastructure: Runway 1/19 Safety Area 8,991,327 Rehabilitate Taxiways M & M1 8,108,079 Airfield Pavement Repairs 6,264,115 Paris & Mexico City Avenue Rehabilitation 2,137,698 Rehabilitate Reunway 3/21 307,633 Rehabilitate Taxiways M, L 179,998 Glycol Collection System Improvements 147,956 Bern St. & Employee Lot Rehabilitation 108,420 Emergency Road Repairs at RAC 91, 7 43 Total infrastructure 26,372,969
Machinery and Equipment: Buses (5) 1,575,550 Motorgrader (1) 217,020 Computer Equipment for Interactive Driver Training Program 138,888 Computerized Traffic Sign Making System 15,930 Vehicles for Operations (3) 76,340 Friction Test System 135,054 Snowplow Blades (3) 58,058 Computer Equipment for Gate Access Control 47,999 Walk-behind Concrete Saw 45,680 Tractor/Mower (1) 29,266 Additional Costs for Airfield Incenerator 2,042 Total Machinery and Equipment 2,341,82 7
Total Assets Capitalized $ 7 1,6 7 0, 7 08 Statistical Section 116 Operating Information
Schedule of Construction in Progress For the year ending April 30, 2010
FYE09 Additions Capitalized Expensed FYE10 MCI Projects: 62020174 upgrade Glycol Collection System $ - $ 124,706 $ (124,706) $ - $ - 6202174A Glycol Collection System Improvements - 10,549 (10,549) - - 6202174B Cargo Glycol Collection System - 12,701 (12,701) - - 62030248 Rental Car Bus Facility - 123,009 (123,009) - - 62030256 Aviation Facility Development 3,673,377 825,983 (4,499,360) - - 62040259 Inline Baggage Screening - 1,272,686 (1,272,686) - - 62040281 Rehabilitate Airfield Lights 1,661,668 8,115,979 - - 9,777,647 62050294 Overhaul Base Plant Rehab 499,104 232,981 (732,085) - - 62050299 Rehabilitate Taxiways M, L - 179,998 (179,998) - - 62050307 Rehabilitate Airport Roadways 1,036,620 929,017 - - 1,965,637 62960C21 Consolidated Rental Car Facility - 677,514 (677,514) - - 62990D49 Storage Building Improvements 1,243,661 207,460 (1,451,121) - - 62TENIMP Tenant improvements - 1,137,631 (1,137,631) - - 62070316 Fleet Bldg 125 Paris Additions 546,928 4,562,327 (5,109,255) - - 62070317 Snow Removal Equip Bldg Const 3,096,825 3,926,801 (7,023,626) - - 62070319 Commerce Center Development 7,120,836 4,801,553 - - 11,922,389 62080326 Paris & Mexico City Avenue Reconstruction 1,131,924 1,041,774 (2,173,698) - - 62080327 Chill Water System Rehab 49,696 434,784 - - 484,480 62080330 Airfield Pavement Repairs 352,689 5,911,426 (6,264,115) - - 62080332 Taxiway M & M1 Rehab 301,490 ,806,589 (8,108,079) - - 62080334 Bern Street & Employee Lot Rehab - 108,420 (108,420) - - 62080335 New Airfield Incenerator - 2,042 (2,042) - - 62060304 Overhaul Base Remainder - 564,619 (564,619) - - 62070320 CNG Facility Expansion - 1,040,230 (1,040,230) - - 62080331 Relief Well System Rehab - 84,682 - - 84,682 62080337 RAC Emergency Road Repairs - 91,743 (91,743) - - 62090339 Terminal Carpet Replacement - 280,090 (280,090) - - 62090341 Business Class Parking - 420,500 - - 420,500 62090344 Airfield Pavement Repairs - 1,329,011 - - 1,329,011 62100346 Terminal B Road Rehab - 1,085,120 - - 1,085,120 62100347 Bonn Circle, Bogota Street Rehab - 637,726 - - 637,726 62000000 Capital Improvement Accruals 7 ,191,231 (3,055,451) - - 4,135, 7 80 Total Construction-in-Progress at MCI 27,906,049 44,924,200 (40,987,277) - 31,842,972 MKC Projects: 62030235 Runway 1/19 Safety Area Extension 568,915 4,356 - - 573,271 62040262 Terminal Bldg HVAC Improvements - 88,374 (88,374) - - 62050300 Rehabilitate Runway 3-21 - 307,633 (307,633) - - 62080329 HVAC Upgrade at 250 Richards Road - 221,023 (221,023) - - 62090340 Runway 1/19 Safety Area Construction 111,611 8,879,716 (8,991,327) - - 62070313 Tee Hangar Complex 15,139,526 3,395,046 (18,534,572) - - 62090343 General Aviation Terminal Facility - 511,668 - - 511,668 Total Construction-in-Progress at MKC 15,820,052 13,40 7 ,816 (28,142,929) - 1,084,939
Total Construction-in-Progress $43, 7 26,101 $58,332,016 $(69,130,206) $ - $32,92 7 ,911 City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 117 Fiscal Years Ended April 30, 2010 and 2009
Compliance Section
This section contains the following schedules:
Independent Accountants’ report opinion letter from independent accountant regarding the passenger facility charge (pfc) program report contained in this comprehensive annual financial report (Report)
Schedule of PFC Funds Collected and Expended schedule showing passenger facility charge (pfc) funds collected and expended for the current fiscal year
Notes to Schedule of PFC Funds Collected and Expended narrative explanation regarding items in the passenger facility charge (pfc) report Compliance Section 118 Independent Accountants’ Report City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 119 Fiscal Years Ended April 30, 2010 and 2009
Compliance Section 120 Passenger Facility Charge (PFC) Program
City of Kansas City Missouri Passenger Facility Charge (PFC) Program Schedule of PFC Funds Collected and Expended For the Year Ending April 30, 2010 Project PFC Authorized Funds PFC Project Description Approved for Amount Expended PFC #1.1 Paving of Runway 1/R/19L & Connecting Taxiways Collection and use $8,409,781 $8,409,781 PFC #1.2 Terminal Improvements - Design Phase Collection and use 16,197,329 7,260,506 PFC #1.3 Taxiway D Rehabilitation Collection and use 427,000 426,763 PFC #1.4 Aircraft Rescue & Firefighting Vehicles Collection and use 265,000 264,944 PFC #1.5 Overlay Runway 1L/19R, Taxiway A, A1-A9 Collection and use 6,722,000 6,721,999 PFC #1.6 Terminal Apron Rehabilitation, Phase II - VII Collection and use 14,556,288 14,556,288 PFC #1.7 Land Acquisition Collection and use 10,766,850 10,766,850 PFC #1.8 Terminal Apron Lights Collection and use 630,529 630,529 PFC #1.9 Overlay Runway 9/27 & Taxiway C Collection and use 4,549,975 4,549,975 PFC #1.10 Expanded General Aviation Apron Collection and use - - PFC #1.11 Construct Federal Inspection Services Facility Collection and use 4,099,000 4,099,000 PFC #1.12 Taxiway B Rehabilitation Collection and use 5,009,511 5,009,511 PFC #1.13 Terminal Improvements - Construction Phase Collection and use 205,852,308 81,344,158 PFC #2.1 Airfield Storm Drainage - MKC Collection and use - - PFC #2.2 Construction Hold Apron West - Terminal B Collection and use 3,944,000 3,900,303 PFC #2.3 Automated Access Control System Collection and use 2,337,336 2,322,855 PFC #2.4 Reconstruct Taxiway D Collection and use - - PFC #2.5 PFC Development & Administration Collection and use 1,094,103 474,398 PFC #3.1 Terminal Equipment Collection and use 61,602,166 32,407,665 PFC #3.2 Airfield Lighting Generator Collection and use 512,599 512,599 PFC #3.3 Relocate Airfield Generator - MKC Collection and use 576,509 576,509 PFC #3.4 Overlay Runway 1/19 - MKC Collection and use - - PFC #4.1 Reconstruct runway 1/19 - MKC Collection and use 2,809,515 2,809,515 PFC #5.1 Two New ARFF Vehicles Collection and use 345,831 345,831 PFC #5.2 Taxiway B & D Extension Collection and use 2,315,000 2,315,000 PFC #5.3 Taxiway M & L Rehabilitation Collection and use 2,125,000 2,125,000 PFC #5.4 Airport Master Plan & Part 150 Update Collection and use 3,500,000 1,449,427 PFC #5.5 New ARFF Facility Construction Collection and use 1,918,433 1,918,433 PFC #5.6 Inline Baggage Screening Collection and use 5,000,000 5,000,000 PFC #5.7 Taxiway D Rehabilitation Collection and use 1,375,000 1,213,567 PFC #5.8 Airfield Lighting Rehabilitation Collection and use 2,647,435 2,647,435 PFC #5.9 Perimeter Fencing Replacement - MKC Collection and use 338,000 338,000 PFC #5.10 Terminal Improvements - Holdrooms Collection and use 5,860,645 5,860,645 PFC #5.11 upgrade Glycol Collection System Collection and use 2,750,000 2,750,000 PFC #5.12 Airfield Snow Removal Equipment Building Collection Only - - PFC #5.15 Fuel Farm Relocation - MKC Collection Only - - PFC #6.1 Airfield Sand & Deicing Facility Collection Only 3,900,000 - PFC #6.2 Terminal Chilled Water Line & Cooling Tower Collection and use 3,335,000 - PFC #6.3 Snow Removal Equipment/ARFF Vehicle Facility Collection and use 3,328,000 3,328,000 PFC #6.4 Airfield Pavement Rehabilitation Collection and use 3,275,000 - PFC #6.5 New Snow Removal Equipment Collection and use 0,500 770,500 PFC #6.7 Runway 1/19 Safety Area Extensions - MKC Collection and use 600,000 - PFC #6.8 Cargo Apron Rehabilitation Collection and use 370,560 367,451 PFC #6.9 Airfield Snow Removal Equipment Building Collection Only 10,000,000 - $404,116,203 $21 7 ,4 7 3,434
Cumulative PFC Revenue Collections $247,075,661 Cumulative Interest Earned on PFC Collections 1 7 ,523,968 Total Cumulative PFC Revenue $264,599,628
See accompanying notes to schedule of PFC funds collected and expended. City of Kansas City, Missouri, Department of Aviation Comprehensive Annual Financial Report 121 Fiscal Years Ended April 30, 2010 and 2009
Notes to Schedule of PFC Funds Collected and Expended For the Year Ending April 30, 2010
(1) General The Aviation Safety and Capacity Expansion Act of 1990 (Public Law 101-508, Title II, Subtitle B) authorized the local imposition of pas- senger facility charges (PFC’s) and use of PFC revenues on Federal Aviation Administration (FAA) approved projects. On August 8, 2006, the FAA approved a $4.50 PFC collection at Kansas City International Airport (MCI). The total approved amount of net PFC revenue plus interest that MCI is allowed to collect is $404,116,203 by July 1, 2014.
(2) Schedule of Passenger Facility Charge Revenues and Expenditures The accompanying schedule of Passenger Facility Charge Revenues and Expenditures presents the revenues received from PFC and expenditures incurred on approved projects on the cash basis of accounting, wherein revenues are recorded when received and expenses are recorded when paid.
Revenue received and expenditures made on approved projects in the accompanying schedule agree to the PFC quarterly status reports submitted by MCI to the FAA.
(3) PFC Bonds On August 1, 2001, the City of Kansas City, Missouri Aviation Fund issued $140,000,000 in PFC Revenue Bonds. These bonds were issued for the purpose of financing the design and construction costs of terminal improvements at the Kansas City International Airport and are backed by the PFCs collected on ticketed passengers that pass through the Airport. The bonds mature annually through 2026.
(4) PFC Funds Collected PFC funds collected during FYE10 were as follows:
PFC Collections $ 22,741,784 Interest Earned on PFC Collections 1,485,803 Total PFC Revenue in FYE10 $ 24,22 7 ,58 7
(5) PFC Funds Expended PFC funds expended during FYE10 were as follows:
Funds Expended by Quarter: Second Quarter–2009 $ 951,731 Third Quarter–2009 7,994,225 Fourth Quarter–2009 1,149,768 First Quarter–2010 7,850,471 Less April 2009 (681,278) Plus April 2010 1,052,056 Total PFC Funds Expended in FYE10 $ 18,316,9 7 3 Comprehensive Annual Financial Report
Kansas City Aviation Department 601 Brasilia Avenue Kansas City, Missouri 64153
(816) 243-3124 www.flykci.com