Airport commission approves FY27 operating budget after minor reallocations to contingency
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Summary
The commission approved the airport’s FY27 operating budget after agreeing to two staff‑proposed reallocations into contingency, discussed staffing and dorm operating accounts, and heard that overall revenue is budgeted down 2% while expenses are down about 5%.
The Nantucket Memorial Airport Commission unanimously approved the airport’s FY27 operating budget after agreeing to two reallocations of line items into the contingency account.
Finance manager Timis Pesceva presented the budget and outlined major drivers: the overall payroll budget was up modestly (about $25,639, under 1% year‑over‑year), seasonal salaries increased due to higher pay caps and bonuses, and electricity and utility accounts were adjusted to reflect the new dorm. Pesceva said the airport budget includes a $2.3 million fuel‑sales estimate in the revenue mix and continues to use a $400,000 transfer from passenger facility charges (PFCs) to reimburse prior terminal costs.
Commission discussion: Commissioners debated the environmental/invasive‑species budget line (an item carried from the prior manager) and staff proposed carrying forward the line but reducing it and placing the remainder in contingency. Commissioners discussed whether contingency funds would be the best place for an invasive‑species program allocation and suggested keeping a small dedicated line while shifting a larger portion to contingency for flexibility. Staff agreed to the change.
Vote and next steps: A motion to approve the budget with the two reallocations to contingency was made and seconded. A roll‑call vote recorded unanimous approval. Staff will present the finalized budget to town administration and return with updates as needed.