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THOSE PRESENT: Doug Holder, Chairman Robert Spencer, Vice Chairman Carlos Beruff, Secretary Jesse Biter, Commissioner Kristin Incrocci, Commissioner Jeff Jackson, Commissioner Fredrick J. Piccolo, President, Chief Executive Officer C. Dan Bailey, Jr., Airport Counsel Anita Eldridge, Sr. VP Finance & Administration Kent Bontrager, Sr. VP Engineering & Facilities Mark Stuckey, Sr. VP, COS Karen Garofalo, Executive Assistant – SMAA Dori Guzman, Executive Assistant – SMAA

Mr. Piccolo presented the FY 2022 proposed budget and gave an overview of significant items through a PowerPoint presentation. He noted that last year's budget workshop included discussion regarding how much money needed to be cut from the budget, how many positions would be frozen, if layoffs were needed, how much revenue would be lost. The 2021 budget included a deficit, with plans to backfill with CARES (Coronavirus Aid, Relief, and Economic Security) funds if needed. Mr. Piccolo was pleased to note FY 2021 was very different than anticipated.

There are now six signatory carriers, all with agreements through 2024: American, Delta, JetBlue, and United. Allegiant and Southwest were added in 2021. Total revenue contribution to airline rates for FY 2022 is anticipated to increase by $6,883,930 ($918,070 for FY 2021 v. $7,802,000 for FY 2022).

Airport Net Revenue for FY 2021 was projected to be a deficit of $1,373,480, with CARES funds budgeted to cover this deficit. FY 2021 ends on September 30, 2021, so final figures are not known, but it is likely there will be no deficit, and a strong possibility no CARES funds will be utilized.

Review of significant revenue changes in FY 2022, as compared to FY 2021, included the following: