Airport authority reports stronger‑than‑expected 2025 draft finances; projects remain on track

At the Airport Authority Board meeting, staff presented draft December 2025 financials and told the board the airport was about $1,000,000 over its operating budget for the year and, when interest income is included, roughly $2,000,000 over budget. The presenter cautioned these statements reflect draft numbers and that an audit, beginning next week, could change the final figures.

The finance presenter said the airport’s cost per enplaned passenger remains low — about $4.40 — a metric they said airlines monitor when making service decisions. Staff also reported an approximate 8% increase in enplanements over the prior year, while noting November and December were slightly down due to a government shutdown and winter storms.

Board members asked for continued tracking of parking metrics and new revenue streams. Staff provided a preliminary TNC (rideshare) revenue number of about $61,000 for recent months and said parking‑ramp occupancy had been 42% in November, 60.5% in December and about 71% in January. Staff warned interest income is likely to decline in 2026 and 2027, which will affect net revenue projections.

On capital projects, the architecture and project teams reported that terminal construction is advancing and remains on budget; ticketing is under construction but likely will not be ready for airline move‑in until around June when baggage screening work is complete. Parking expansion work is underway with change orders (including wind screens) incorporated into costs. Staff said they are continuing to assess grant opportunities and are working with Mead & Hunt on forecasts; they expect to identify further funding needs for larger projects in 2027 and said they will target planning on a six‑month horizon as major work approaches.

Board members discussed state funding reductions that affected the airport’s requests. Members noted a reduction from 60 to 45 in the state allocation (the board described the difference as 15 units/amount that might return in future biennia) and said the airport’s advocacy in Bismarck will remain a priority.

After questions, a motion to receive the draft December financials was made and seconded; the board conducted a formal vote (roll call required for financial items) and approved receipt of the draft financials pending the audit review.

What’s next: staff said the audit will start shortly and an auditor’s report or audit review could appear on the board’s March or April agenda; final December financials will be available after the audit.