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Council questions airport enterprise fund accounting, $6.7M grant and match assumptions
Summary
Council members sought clarity on airport enterprise fund balances and how a $6.7 million grant and anticipated grants would be applied, with staff explaining grant reimbursement mechanics and the fund stabilization requirement.
Council members reviewed the municipal airport enterprise fund and asked how much cash is available to support planned capital projects. Staff explained the accounting distinctions between audited net position and spendable cash, described grant reimbursement mechanics and warned that grant awards determine whether project expenses will be reimbursed.
Council member Crafton asked how the airport could fund a roughly $6.675 million project this year without transferring general fund dollars. Staff said enterprise fund…
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