Oklahoma Aerospace Aeronautics Commission reports negative unencumbered cash balance for FY25 amid heavy airport-project spending

At its Dec. 11 meeting the Oklahoma Aerospace Aeronautics Commission heard a financial update showing hefty capital spending on airport projects and an adjusted cash position that staff described as “negative” when encumbrances are included.

Staff told commissioners the department’s ending cash balance as of November was $23.7 million with encumbrances totaling $24.4 million, leaving an unencumbered cash balance of negative $616,000. Estimated statutory revenue for the remainder of FY25 was reported at $13.8 million, and outstanding reimbursements owed to the agency totaled roughly $2.4 million.

Nick (Chris) — identified in meeting materials as the presenter for the financial summary — said total remaining expenditures that could be incurred this fiscal year were about $22.3 million, with about $13.9 million of that tied to the airport construction program. Staff projected an expected available cash balance of negative $6.6 million if all encumbrances and anticipated projects are paid out in full; presenters noted that the worst-case projection assumes all payments are made in full within the fiscal year and that actual cash flow timing will vary.

Fiscal-year-to-date expenditures through November were $9.6 million. Revenue collections were reported at roughly $1.1 million in October and just over $1 million in November, for a total through November of $3.1 million compared with $3.4 million in the same period last year — a drop of about 10 percent. Presenters said the gap has narrowed from a larger shortfall earlier in the fiscal year.

Staff framed the numbers as an expected result of accelerating capital work: “we are moving forward with the money that we've been given, and we are putting that into projects just as quick as Nick and his crew can,” the presenter said during the update.

Why it matters: The financial summary shows the department is actively obligating funds for capital projects statewide. Commissioners did not take action on the report — it was presented for information — but the figures provide context for later grant approvals and for the commission’s upcoming budget and rule discussions.

Clarifying details: Ending cash balance as of November: $23,700,000; encumbrances: $24,400,000; unencumbered cash balance: negative $616,000; estimated statutory revenue remainder FY25: $13,800,000; outstanding reimbursements: approx. $2,400,000; remaining potential expenditures: $22,300,000 with $13,900,000 tied to the airport construction program; expected available cash after encumbrances and expected income: negative $6,600,000; FY-to-date expenditures: $9,600,000; total revenue through November FY25: $3.1 million (down ~10% vs prior year). These numbers were reported by agency staff and presented for discussion.