Sarasota Bradenton International Airport expects budget surplus again next year

Sarasota Bradenton International Airport should have a budget surplus again next year, according to the fiscal year 2018 budget presented to the Sarasota Manatee Airport Authority on Monday.

SRQ president and CEO Fredrick “Rick” Piccolo said the airport is ahead for the current fiscal year with $3.7 million in net revenues as of June.

“So we’re outperforming the budget,” Piccolo said.

The current fiscal year budget of $16.7 million projected $1.6 million in net revenue.

The fiscal year 2018 budget projects $17.2 million in expenses and Piccolo estimates “a little over $21 million coming into SMAA.” Some of the largest expenditure increases in operations and supplies were in building repair, plumbing, and tools and equipment.

SMAA board member Carlos Beruff asked Piccolo about personnel expense increases, which Piccolo attributed to wage increases and rising health insurance costs. Increases in janitorial service are necessary, Piccolo said, to assist the contracted company with its workforce.

“They’re having trouble recruiting because of the state of the economy,” he said. “We’re in a service economy. We’re trying to help them recruit.”

As always, the topic of increased air service came up at the meeting after Piccolo revealed another expected surplus.

“This may be premature, but is it practical to put more money into trying to get more flights?” board member Robert Spencer asked.

“I’m not saying it’s not practical,” Piccolo said. “If it’s needed, we can use it. I want to stress (lack of air service) is not from a lack of incentives but it’s all related to the marketplace.”

The SMAA will vote on the budget at its next meeting, scheduled for Sept. 25.

This story was originally published August 28, 2017 at 2:59 PM with the headline "Sarasota Bradenton International Airport expects budget surplus again next year."