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Finance Committee OKs temporary $2.5M increase to airport fuel revolving fund
Summary
The Finance Committee unanimously approved a temporary $2.5 million increase to the airport fuel revolving fund, raising the spending cap to $11 million through the end of the fiscal year to cover recent spikes in aviation fuel prices.
The Finance Committee voted unanimously Thursday to increase the airport’s fuel revolving fund cap by $2.5 million, raising the spending limit to $11 million through the end of the fiscal year.
The request came after town staff said worldwide fuel costs for aviation had surged this spring. "Aviation fuel has seen a 45% increase in jet A and a 23% increase in 100 low lead," finance staff said while asking the committee to approve the temporary increase so the airport would not have to draw…
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