Records obtained by the Variety showed that the actual airport revenue totaled $8.3 million, which was less than the overall operating expenses — $9.455 million.
Of the $8.3 million in airport revenues, $5 million was from aviation; $3.2 million from non-aviation; and $110,778 was from interest income.
The big bulk of CPA’s expenses went to personnel — $6.1 million — while $3.3 million was spent on operations and maintenance.
CPA recorded an over $1 million net revenue loss, but this was reduced to $233,504 after the agency collected the following: $275,000 reimbursement from its memorandum of agreement with the Commonwealth Utilities Corp., regarding CUC’s sewerline project; $116,314 in Transportation Security Administration reimbursement; and $446,190 in bond payment. Total revenue requirement for airport division in FY 2008 was $11.3 million.
The seaport division’s total revenue of $5.8 million came from the following: $3.9 million, harbor; $1.6 million, non-harbor; and $295,036, interest income.
The division recorded $2.413 million in operating expenses of which $1.076 million was for personnel and $1.337 million was for operations and maintenance.
The seaport division failed to achieve the total revenue requirement of $6.368 million in FY 2008.
