Total Operating Expenses are projected at $48.6 million, an increase of $4.8 million over the prior year. As the Airport Authority continues to respond to rising activity and operational demands, personnel-related costs remain a significant driver of this growth. The budget includes nine new positions supporting key areas across the organization including operations, facilities, properties, marketing, and engineering. In addition to personnel costs, contractual obligations and increases in essential service contracts represent most of the remaining expense growth. Together, these investments strengthen the Authority's ability to meet expanding operational needs while maintaining efficient and reliable airport operations.

The Authority anticipates an average Cost per Enplanement (CPE) of $9.73 for FY 2027, a $0.97 increase over the prior year. As most airports experience cost pressures SRQ remains one of the best at maintaining competitive rates and managing cost pressures.

The Sarasota Manatee Airport Authority looks forward to the continued partnership with our Airlines, Tenants and Community in FY 2027.

Respectfully,

Kevin Podsiad, CPA

EVP, Chief Financial Officer