Page 31 - BAA CAFR 2017

BIRMINGHAM AIRPORT AUTHORITY
BIRMINGHAM AIRPORT AUTHORITY
STATEMENTS OF NET POSITION
STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
For the years ended June 30, 2017 and 2016
For the years ended June 30, 2017 and 2016
2017 2016
2017 2016
OPERATING REVENUES
ASSETS AND DEFERRED OUTFLOWS OF
Space rentals $ 9,205,501 $ 9,273,080
RESOURCES
Concession fees - parking 12,615,023 12,984,370
CURRENT ASSETS
Concession fees - other 8,643,213 8,783,938
Unrestricted Assets:

10,303,116
10,114,416
Landing fees $ 34,430,543 $ 28,488,429
Cash and cash equivalents
Fuel flowage 340,322 327,774
Investments
1,545,886
Ground hangar rentals 25,926,563 20,168,903
1,458,502
876,944
Grants receivable
Other revenues 1,263,601 - 1,016,731
Accounts receivable (net of allowance for 43,829,278 44,046,195
Total operating revenues
uncollectibles of $29,002 and $28,376
in 2017 and 2016, respectively)
OPERATING EXPENSES 836,648 1,505,157
Personnel costs 11,810,425 11,279,857
36,676
4,765
Other accounts receivable
Pension expense 3,501,021 4,793,349
519,720
Prepaid insurance
468,723
Security and fire protection 4,520,505 4,080,074
249,349
Inventory
292,764
2,137,622
Utilities 1,912,000 51,762,270

Total unrestricted assets
62,042,914
Professional services 568,201 735,644
Restricted Assets:
Materials and supplies 1,154,405 996,564
Passenger Facility Charges Funds:
Repairs and maintenance 3,627,252 3,619,370
1,624,848
Cash and cash equivalents
Other services 1,815,147 1,402,123
2,583,089
Accounts receivable
Total operating expenses before depreciation 736,515 750,876
Customer Facility Charges Funds: 28,908,956 30,225,569
and amortization
15,935,402
Cash and cash equivalents
16,311,707
Depreciation and amortization 17,342,863 15,375,908
669,335
Accounts receivable 46,251,819 46,537,276
606,666
Total operating expenses
Revenue Bond Reserve Funds:
(2,491,081)
Operating loss before non-operating revenues (expenses) (2,422,541) 28,545,636
28,827,856
Cash and cash equivalents
Construction Bond Funds:
Cash and cash equivalents 433,705 625,570
NON-OPERATING REVENUES (EXPENSES) 591 770
Accrued interest receivable
Passenger facility charges 5,208,341 5,258,436
Total restricted assets

4,830,565
Customer facility charges 48,165,583 47,370,218
4,745,406
Total current assets

110,407
239,243
Interest income 110,208,497 99,132,488

Interest expense (9,572,401) (9,606,613)
NON-CURRENT ASSETS
Gain on disposal of capital assets - 110,000
27,283 546,546,871
Capital assets, net of accumulated depreciation
Insurance settlement 535,130,387 -
Total non-current assets

(8,115)
Unrealized gain (loss) on investments (net) 535,130,387 546,546,871
33,013
Total assets
694,680
Total non-operating revenues 645,338,884 645,679,359
680,885
Loss before capital contributions from
DEFERRED OUTFLOWS OF RESOURCES
federal agency (1,741,656) (1,796,401)
922,047
748,721
Deferred refunding
Deferred outflow of resources related to pension 12,441,871 16,936,480
Capital contributions from federal agency 4,937,446 7,600,907

Total deferred outflows of resources

NET POSITION 13,190,592 17,858,527
Increase in net position 3,195,790 5,804,506
TOTAL ASSETS AND DEFERRED OUTFLOWS
Total net position, beginning of the year-restated (Note 19) 431,839,367 426,034,861
OF RESOURCES $ 658,529,476 $ 663,537,886
Total net position, end of the year $ 435,035,157 $ 431,839,367
See Accompanying Notes to the Financial Statements. 11
See Accompanying Notes to the Financial Statements. 13