The Greeneville Municipal Airport Authority Board approved its budget for fiscal year 2026-27 during its meeting Wednesday afternoon.
The board approved the budget, which subsequently requires the approval of the Greeneville City Council, without much discussion among members of the board.
The approved budget projects a $54,000 increase in hangar lease revenue, up to $188,122 from $134,122. A $35,000 increase in fuel sales revenue is also a part of the budget.
The Town of Greeneville absorbed the airport’s $117,319 in debt principal from a previous loan recently, which as a result has improved the airport’s financial outlook.
The budget projects total operating revenues for the airport of $987,062 and operating expenses of $1,027,819, resulting in an operating loss of $40,757. The budget from the previous fiscal year included a $181,317 operating loss.
Once other financing sources are included in the budget, such as state grants, the change in the net position of the airport would be a loss of $20,757. In the previous fiscal year, the airport’s net position was budgeted to decrease $76,317.
In other business Wednesday, the board approved the firm CLA to handle the airport’s accounting and bookkeeping services at a cost of $39,900 per year. The airport will also pay a one-time initial services cost of $7,875.
The board chose Heritage Bank for banking services.
The airport has sought more autonomy from the Town of Greeneville in recent months, and both the Greeneville City Council and Airport Board have approved an agreement leading to that autonomy. However, as a result the airport is now responsible for its own bookkeeping and banking services. It also is solely responsible for providing benefits to airport employees, such as healthcare and retirement.
As a brief informational item, Board Chairman Paul McAfee informed the board that board member Jimmy Collins had agreed to serve another five-year term on the Airport Authority Board.
