The Walnut Ridge Airport Commission discussed current finances and received a preliminary budget for 2022 at its meeting on Monday night.
Airport manager Stacy Hoggard said the bank account is down, but should rebound with recent fuel sales and some other anticipated revenue that has not been recorded.
She noted that the commission has not had to move any money from the CMA account to the operating account despite making several purchases this year including a tractor and bush hog, a lawnmower and a courtesy car.
“All bills are paid,” she said, noting that $15,000 in recent fuels sales was not yet reflected in the financial reports presented.
Hoggard also distributed a preliminary budget for 2022 to commissioners. She said she expects revenue to increase in 2022, but she is being conservative with her budget numbers.
Hoggard said a final budget will be completed prior to the December meeting, which will be held early due to the holiday. A meeting date will be announced as soon as it is set.
In other business:
Hoggard reported that a check for $1,260.60 had been received from Andrea and Seth Hardage to pay the electric bill and other fees associated with the hangar they had vacated their lease on. Commissioners voted not to pursue the two months’ lost income from the hangar, which has since been leased under a new contract.
Commissioners were informed that the Lear Hangar would remain a community hangar. There had been some interest in a private lease, but the interested party decided against leasing the hangar. Hoggard said the airport will benefit as much, if not more, from the community lease, especially where fuel sales are concerned.
Hoggard reported that the letter of intent has been submitted for a historical grant.
Commission Chair Don Cavenaugh noted that the airport has several pieces of equipment that could be sold if the city has a sale in the near future.