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Airport reports $6.18 million in cash; finance staff adjusting to new X-1 software
Summary
The board reviewed February financials showing total cash and equivalents of $6,182,501.90 and a general fund balance of $256,478.94; staff noted the new X-1 FBO/inventory software has not imported income data so reports will be updated once the import file is set up.
Daniel Ruppert, Treasurer, presented the financial report for the period ending February 28, 2026.
Ruppert highlighted combined cash and cash equivalents of $6,182,501.90 and provided account-level balances including general fund liquid reserves of $256,478.94, a certificate of deposit of $4,129,000.00, and a PLGIT prime investment account balance of $1,744,262.68. He noted that the inventory software migrated to a new system (X-1) in February but the import file for income has not been set up yet, so some income is currently excluded from the reports; staff said they will provide updated reports after the import.
Cheryl Martin, Director of Finance & Administration, told the board that auditors were on-site and that a draft audit report is expected for approval at the April meeting. Martin also reported about 8% of outstanding general fund receivables were collected since February 28, leaving roughly $114,600 still outstanding.
The board moved to approve the financial reports subject to audit; the motion passed unanimously as recorded in the minutes. The minutes do not include a roll-call tally; the record states the motion was 'unanimously approved.'
