The Greater Orlando Aviation Authority (GOA) presented its preliminary budget for fiscal year 2024-2025 during a public hearing held on September 1, 2024. The proposed budget for Orlando International Airport stands at $941,278, while Orlando Executive Airport's budget is set at $10,692,381. This hearing is part of the required process under state statute and city code, allowing the city council to review the budget before any actions are taken at the upcoming board meeting on September 18, 2024.

Kathleen, representing the GOA, outlined the budget's objectives, emphasizing the authority's mission to connect Florida with the world through exceptional experiences. The proposed budget reflects a 10.3% increase in operating and maintenance expenses compared to the previous year, driven by the need to maintain existing assets and support a capital program that meets demand.

The total revenue budget is projected at $941.3 million, with operating expenses estimated at $567 million. Notably, no local tax dollars will fund the airport's operating budget; instead, 41% of revenues will come from aeronautical sources, while the remaining 59% will derive from non-aeronautical sources, including parking and ground transportation.

The budget also anticipates an increase in operating expenses of approximately $52.9 million, primarily due to staffing and modest salary adjustments. GOA plans to utilize remaining revenues to maintain existing assets, fund capital improvement projects, and share costs with airline partners, ensuring compliance with legal debt service coverage requirements.

For Orlando Executive Airport, the budget forecasts operating revenues of $4.8 million, exceeding operating expenses of $4.5 million. The budget will also utilize previous COVID relief funds to support its capital improvement program.

In summary, the GOA's budget aims to foster growth in air service and enhance the overall travel experience, ultimately benefiting the Greater Central Florida community. The authority is poised to access capital markets in December to further fund its capital improvement projects, aligning with its strategic plan.