During the recent Lock Haven City Council meeting on November 27, 2023, significant discussions centered around the financial operations of the local airport, particularly regarding its long-term losses and the city's financial contributions to its operations.

A key point raised was the city's substantial investment in airport operations, which has reportedly totaled over $3.8 million since 1984. This figure translates to an annual subsidy of approximately $98,000, which has increased to about $190,000 in recent years. However, some council members questioned the accuracy of these figures, suggesting that the reported losses may not fully reflect the airport's financial health.

One council member highlighted discrepancies in the financial reports, particularly concerning depreciation costs included in the annual budget. It was noted that while the total reported loss from 1984 to 2022 was around $3.8 million, when depreciation—an accounting measure that does not involve actual cash outflow—is excluded, the actual loss is significantly lower, estimated at about $332,173 over the same period. This adjustment suggests that the airport may not be as financially troubled as previously thought.

The discussion also revealed that there have been years where the airport actually generated net income, contrary to the narrative of consistent losses. Specifically, it was mentioned that out of the last 36 years, there were 19 years of net income compared to 17 years of net loss, indicating a more complex financial picture than initially presented.

Council members expressed the need for a thorough review of the airport's financial statements to ensure accuracy and transparency. This scrutiny is crucial as the city continues to evaluate its financial commitments and the operational viability of the airport, which plays a significant role in the local economy.

As the council moves forward, the focus will be on verifying these financial figures and exploring ways to optimize airport operations while balancing the city's budgetary constraints. The outcomes of these discussions will be pivotal in shaping the future of the airport and its impact on the Lock Haven community.