process, which is part of the paperwork Commissioner Beruff is discussing. Following additional discussion, it was the direction of the Board to approve the Master Plan Update as presented and to start plans for the terminal (Concourse A) in addition to all items in Phase 1.
MOTION: Commissioner Beruff moved to approve the Airport Master Plan Final Draft for submittal to the FAA and FDOT as presented. Commissioner Incrocci seconded. MOTION PASSED UNANIMOUSLY (6-0)
Mr. Piccolo stated that we are planning to present another consultant selection for all of the bump-outs as discussed in the Master Plan Update and we will ensure the process for the terminal expansion, in addition to all items noted in Phase 1, are contained in the worklist plans.
Mr. Piccolo requested an increase to the FY 2021 Capital Equipment and Capital Projects budget for unanticipated costs due to the addition of Southwest Airlines and increased flights by other airlines.
MOTION: Commissioner Beruff moved to approve the increase to the Fiscal Year 2021 Capital Equipment budget in the amount of $7,400 to a total of $179,040 and the Capital Projects budget in the amount of $13,581,500 to a total of $18,496,500. Commissioner Jackson seconded. MOTION PASSED UNANIMOUSLY (6-0)
Mr. Piccolo requested approval of recommended revisions to the Authority's Personnel Policies and changes to the Deferred Compensation Plan.
MOTION: Commissioner Spencer moved to approve the revisions to the SMAA personnel policy and be authorized to prepare any documents to implement the requested changes to the Sarasota Manatee Airport Authority (FL) Deferred Compensation Plan. Commissioner Beruff seconded. MOTION PASSED UNANIMOUSLY (6-0)
Mr. Piccolo requested approval of Amendment No. 3 as noted, to amend the definition of Actuarial Equivalent in the defined benefit plan named Sarasota Manatee Airport Authority Retirement Plan in Article I, Section 1.02 ("Definitions") since the current rates determined by Pension Benefit Guaranty Corporation will no longer be published, and to make the calculation of the Applicable Interest Rate consistent throughout the plan as recommend by the plan actuary.
MOTION: Commissioner Beruff moved to approve the proposed amendment No. 3 to the Sarasota Manatee Airport Authority Retirement Plan. Commissioner Jackson seconded. MOTION PASSED UNANIMOUSLY (6-0)