Page 23 - BAA CAFR 2017

BIRMINGHAM AIRPORT AUTHORITY
Management's Discussion and Analysis (Unaudited) (continued)
Fiscal Years Ended June 30, 2017,2016, and 2015

FINANCIAL POSITION SUMMARY

The statements of net position present the financial position of the Authority. The statements
include all assets, deferred outflows of resources, liabilities, deferred inflows of resources, and net
position of the Authority. A summary comparison of the Authority’s assets, deferred outflows of
resources, liabilities, deferred inflows of resources, and net position at June 30, 2017, 2016, and
2015 is as follows:

2017 2016 2015

ASSETS
Current assets $ 110,208,497 $ 99,132,488 $ 87,793,625
Non-current assets 535,130,387 546,546,871 555,782,029
Total assets 645,338,884 645,679,359 643,575,654
DEFERRED OUTFLOWS OF
RESOURCES 13,190,592 17,858,527 4,142,871

TOTAL ASSETS AND
DEFERRED OUTFLOWS OF
RESOURCES $ 658,529,476 $ 663,537,886 $ 647,718,525

LIABILITIES
Current liabilities $ 13,319,297 $ 13,251,079 $ 14,846,064
Non-current liabilities 200,986,374 218,447,440 206,837,600
Total liabilities 214,305,671 231,698,519 221,683,664

DEFERRED INFLOWS OF
RESOURCES 9,188,648 - -

NET POSITION
Net investment in capital assets 353,534,611 358,269,422 361,560,555
Restricted 42,945,084 42,688,471 37,294,907
Unrestricted 38,555,462 30,881,474 27,179,399
Total net position 435,035,157 431,839,367 426,034,861

TOTAL LIABILITIES,
DEFERRED INFLOWS OF
RESOURCES, AND NET
POSITION $ 658,529,476 $ 663,537,886 $ 647,718,525

Net position may serve over time as a useful indicator of the Authority’s financial position. The
Authority’s net position exceeded liabilities by $435 million at June 30, 2017, a $3.2 million
increase from June 30, 2016. The largest portion of the Authority’s net position (81% at June 30,
2017) represents its investment in capital assets (e.g., land, buildings, infrastructure improvements,

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