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Home My WebLink About07-26-2021 Barkley Regional Airport Authority 1 | Page Airport Board of Directors Meeting Agenda Monday, July 26th, 2021, @3:30 p.m. Location: In Person Paducah Area Chamber of Commerce Paducah Bank Room 300 3rd Street I. Call to Order and Roll Call Chairman Matheny called the meeting to order at 3:30 p.m. Directors Harrison, Matheny, Roark, Goodwin, Paterson Davis, and Durbin, were present. Directors Johnson, Wathen and Crocket were absent. II. Pledge of Allegiance III. Approval of Board Minutes a. Regular Board Meeting June 28th, 2021 Motion by Director Durbin to approve the Regular Board Meeting Minutes of June 28th, 2021, Second by Director Roark, Motion Made and Seconded, No Discussion, Vote Taken, All “Ayes” – Motion Carries b. Regular Board Meeting July 19th, 2021 Motion by Director Roark to approve the Regular Board Meeting Minutes of July 19thth, 2021, Second by Director Durbin, Motion Made and Seconded, No Discussion, Vote Taken, All “Ayes” – Motion Carries IV. Finance Committee Report Director Durbin presented the attached Finance Committee Report V. Approval of items within the Consent Agenda a. Bank accounts/reports/statements i. June 2021, Barkley Blue Sky Alliance ii. June 2021, ICS Sweep iii. June 2021, Operating iv. June 2011, PFC v. June 2021, PFC Sweep vi. June 2021 Journal Entries vii. June 2021 Monthly Check Report viii. June 2021 Reconciliation Detail ix. June 2021 US Bank Credit Card Statement Barkley Regional Airport Authority 2 | Page Motion by Director Davis to approve the Consent Agenda, Second by Director Roark, Motion Made and Seconded, No Discussion, Vote Taken, All “Ayes” – Motion Carries VI. Consideration of Items Removed from Consent Agenda None Removed VII. Approval of June 2021 financial and statistical reports. Motion by Director Durbin to approve the June 2021 financial and statistical reports, Second by Director Goodwin, Motion Made and Seconded, No Discussion, Vote Taken, All “Ayes” – Motion Carries VIII. Executive Director Report a. Terminal update i. Package 2 ii. Package 3 iii. Package 4 b. ALP Update c. Runway 5/23 Repairs (Runway Closure for three weeks). d. Barkley Blue Sky Alliance Update IX. Old Business X. New Business a. Approval of CHA New Airport Terminal, Non-AIP Site Civil Design and Bidding Services for an amount not to exceed $476,000. Motion by Director Goodwin to approve the CHA New Airport Terminal, Non-AIP Site Civil Design and Bidding Services for an amount not to exceed $476,000, Second by Director Davis, Motion Made and Seconded, No Discussion, Vote Taken, All “Ayes” – Motion Carries b. Approval of a Project Award to Jim Smith Contracting Co. LLC for the Rehabilitate Runway 5/23 – Phase 1 project in the amount of $424,970.00. Motion by Director Davis to approve a Project Award to Jim Smith Contracting Co. LLC for the Rehabilitate Runway 5/23 – Phase 1 project in the amount of $424,970.00, Second by Director Durbin, Motion Made and Seconded, No Discussion, Vote Taken, All “Ayes” – Motion Carries c. Approval of Task Order No. 6 with CMT for Rehabilitate Runway 5/23 Construction Phase Services for a not-to-exceed amount of $98,840.00. Motion by Director Davis to approve Approval of Task Order No. 6 with CMT for Rehabilitate Runway 5/23 Construction Phase Services for a not-to-exceed amount of $98,840.00, Second by Director Roark, Motion Made and Seconded, No Discussion, Vote Taken, All “Ayes” – Motion Carries XI. Executive Session for the purpose of KRS 61.810(1)(f), related to the appointment of, the dismissal of, or the discipline of an individual employee. Motion by Director Durbin to go into Executive Session for the purpose of KRS 61.810(1)(f), related to the appointment of, the dismissal of, or the discipline of an individual employee at 5:27 p.m., Second by Director Roark, Motion Made and Seconded, No Discussion, Vote Taken, All “Ayes” – Motion Carries Motion by Director Durbin to exit Executive Session for the purpose of KRS 61.810(1)(f), related to the appointment of, the dismissal of, or the discipline of an individual employee at 5:45 p.m., Second by Director Roark, Motion Made and Seconded, No Discussion, Vote Taken, All “Ayes” – Motion Carries Barkley Regional Airport Authority 3 | Page XII. Adjourn (no later than 5:30 p.m.) Motion by Director Goodwin to adjourn at 5:49 p.m., Second by Director Patterson, Motion Made and Seconded, No Discussion, Vote Taken, All “Ayes” – Motion Carries. Minutes Approved _________________ Board Secretary______________________ Barkley Regional Airport Authority 4 | Page M I N U T E S Barkley Regional Airport Authority FINANCE COMMITTEE Quarterly Meeting - Thursday, 07/23/21, 3:30pm Via Zoom Meeting Finance Committee (FC) Chairman Durbin welcomed everyone and recognized that a quorum was present. Committee Members present were Board Chairman Jay Matheny, Marshall Davis, John Durbin, Chairman and Emerson Goodwin. Ashley Johnson was not present. Staff present was Dennis Rouleau, Executive Director (ED), Eddie Grant, marketing and Carol Creason, Accountant. Review of June 2021 and full year ending June 2021 Financial statements Durbin and Rouleau went over the month of June and the full year June financials noting the positive and negative variances to both budget and the prior fiscal year ending. Despite the impact of COVID on operations, the airport finished the year $88,800 over budget for gross income and only under the prior FYE by $51,400. We did excellent in the spending/expenses finishing under budget by $172,400 and under the prior FYE by $56,000. Combined we were better than budget for net income by $261,300 and better than the prior FYE by $4,600. The largest negative variances to the prior FYE for income were parking lot income down $73,100 (-57.8%) and ground transportation down $34,600 (-36.6%). The largest positive variances to the prior FYE were FBO facilities rent up $45,000 (+42.8%) under the new lease agreement and tenant services income up $26,200 (+91.0%) as COVID cleaning generated this revenue opportunity. On the expense side, the largest negative variance to the prior FYE was supplies up $14,200 (+52.6%) because of the ice event this winter and maintenance up $10,400 (+9.6%) mostly from COVID supplies and cleaning. The largest positive expense variance to the prior FYE was salaries and related expenses down $47,500 (-8.4%) as we had a couple open position unfilled for a number of months during the year and advertising/marketing down $19,700 (-53.1%) mostly COVID related pullback on spending. The balance sheet is likely the strongest it has been in years (maybe in history) with our cash position at $1,495,400 compared to $849,900 the end of FYE 2020. The new terminal is underway with $4,476,500 capitalize to date. Review of consent agenda items Rouleau reviewed the check register, bank recons and bank statements for June answering questions on individual items. Banking discussion A general discussion on the likely increase in cash reserves from the next two rounds of federal aid was had and the timeline of spending such aid. This could create some temporary increases in cash in the bank, so a general discussion was had about if we need to allow other financial institutions to bid on being the depository for such excess reserves. No action is recommended at this time. Report on status of year end audit Creason reported that the Kemper Group will likely start the year end audit next week. Other items and adjournment A general discussion was had on Barkley Blue Skies Alliance and the funding of any extension of the Barkley Regional Airport Authority 5 | Page consultant contract and banking and administrative needs for such a campaign. Discussion on EAS vs non-EAS air service development was had in addition to what it would take to upgrade our fire service to the next higher index in order to serve more charter flights and the revenue it could create. The next Board meeting is July 26th, and the next full quarterly FC meeting is set for October 21st at 3:30. Meeting adjourned at 4:50PM