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Treasury update: airport reports about 542 days cash on hand; July passenger activity exceeds budget
Summary
Treasury staff reported roughly 542 days cash on hand, investment income above budget and potential excess income to support airline incentives; July passenger results ran above budget while cargo weights trended below budget earlier in the year but improved in July.
Keith Rexing (treasury manager) told the committee there had been no material change in liquidity since the June presentation and that the authority held roughly 542 days of cash on hand, a figure staff said excludes recent bond proceeds tied to hotel or other debt issuances. Keith said the authority’s policy target range for days cash on hand has been discussed and staff are considering framing it as a target rather than a minimum; the policy target range discussed earlier…
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