Staff presented highlights from the airport's third-quarter financial report and noted fuel sales were the main driver of quarter-overquarter variation.

The packet reported third-quarter airport revenue collected at $8,184,640 for the period; staff described a quarter-over-quarter decrease attributed primarily to lower fuel-sales revenue. Staff explained the airport's fuel revolver spending limit was $6,000,000 for the current fiscal year but that a retroactive adjustment increased last year's limit to $8,800,000. The airport committee voted earlier in the fiscal year to increase the fuel revolver to $8,500,000; staff said finance committee approval had been obtained prior to the meeting and the select board was scheduled to consider final approval the next day.

Year-to-date, staff said fuel sales (revolver and operating) were up $1,103,008 (about 9%) compared with the same period last year; other income lines noted fee and rental income increases and interest-on-investments growth. On the expense side, operating expenses excluding debt service were reported at $2,578,902 for the quarter, an increase staff said was driven in part by a repayment to the town and by salary and benefit increases tied to cost-of-living adjustments.

Staff recommended resetting the fuel revolver spending limit to ensure sufficient funds are available to purchase fuel this year. The commission previously approved an increase to the fuel revolver; staff said the select board would take the item up for final signoff following finance committee action.

No new commission action beyond routine endorsement and follow-up was recorded at the meeting; staff identified the fuel-revolver reset and routine reporting as the key near-term financial steps.