EXECUTIVE SUMMARY: In reviewing the various Capital Equipment in the FY 2021 budget, staff requests an increase of the spending authority in the approved budget; specifically, an increase of $150,000 to Capital Equipment.

NARRATIVE: With the addition of flights and passengers along with unanticipated costs, staff requests an increase in spending for Capital Equipment needed as we continue to grow. The Authority has been awarded $23,294,336 of Coronavirus Aid, Relief and Economic Security (CARES) Funds, $4,332,871 as part of the Airport Corona virus Response Grant Program (AC RGP) and recently a ward ed another $9,656,154 under the American Rescue Plan. We have already received $25,021,007 for reimbursement of operating expenses from these operational relief funding grants. The additional requested $150,000 for equipment items will also be eligible for reimbursement through these grants.

RECOMMENDED MOTION: Staff recommends the Sarasota Manatee Airport Authority approve the increase to the Fiscal Year 2021 Capital Equipment budget by the amount of $150,000.