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Airport board reviews preliminary 2027 budget; staff proposes transfers and flags potential $30M revenue bond
Summary
Finance staff presented a preliminary 2027 budget showing higher projected operating revenue and proposed transfers of $1.8M to parking and $3.449M to capital; the board also discussed potential $30M revenue bonding for multi‑year capital needs and agreed to form a small review committee.
The Fargo Airport Authority reviewed a preliminary 2027 budget that proposes revenue transfers and flags a potential need for bonding as the authority finishes terminal projects and plans additional capital work.
Tana reported operating revenue is projected to rise from about $16 million to $18 million (≈13%). She proposed transferring $1.8 million from operating to the parking fund to meet debt-service requirements and moving about $3.449 million from operating to the capital fund to replenish local match for anticipated grant applications. Staff warned that capital needs over the next three years could total roughly $100 million and recommended early work to evaluate a potential $30 million revenue bond for 2027–28 if grant outcomes require additional local cash.
Board members asked for more detail and asked staff to form a small working group to finalize the budget before the city submittal. Tana emphasized variability in benefit and insurance rates and the sensitivity of forecasts to snow/repair costs.
The board agreed to send a draft levy and work with city staff on certification timing; staff will return with a refined draft for board review in August.
