The Greater Orlando Aviation Authority (GOAA) has revealed its preliminary 2022-2023 fiscal year budget after its board meeting on August 18.
The Orlando International Airport (MCO) budget for the coming fiscal year is US$683,585,000, which is a US$105.2m increase in revenue over the previous year’s budget. The budget for Orlando Executive Airport (ORL) is US$4,765,000. With passenger traffic increasing at Orlando International, the budget for the following year is intended to reflect how the increase in travel activity, enduring surge in inflation and a full year operation of new Terminal C are affecting the Authority’s financial outlook.
Kathleen Sharman, chief financial officer at Greater Orlando Aviation Authority, said, “Just about every sector of this budget has been affected by current economic forces and the opening of Terminal C. With passenger traffic returning to 2019 levels, revenues are projected to rise, but so are expenditures like maintenance and personnel.”
MCO budget highlights include: a US$50.3m increase in ground transportation revenue (including US$26.7m in parking revenue); a US$29.0m increase in terminal premises revenue; a US$19.4m increase in baggage revenue; a US$12m increase in hotel revenue; an US$18.2m increase in salaries and benefits expenses; a US$10m increase in janitorial services expenses; a cost per enplaned passenger (CPE) increase from US$9.25 to US$10.68 for participating airlines; a landing Fee increase from US$1.63 to US$1.97 per 1,000 lb; and a terminal premises rate increase from US$167.50 to US$193.21 per square foot. Following board approval, the preliminary budget will be sent to the Orlando City Council for discussion at a public hearing before returning to the GOAA Board for final approval.
At its July meeting, the Aviation Authority Board reviewed an outline to update the 2013 Strategic Plan as well as the process and timeline for completion. At this meeting, the Board moved the process forward by approving an agreement with Ricondo & Associates to provide strategic planning services.
Significant coordination among the authority, airport stakeholders and the community is expected, so a three-phase workshop approach will be used to develop the strategic plan update. The first phase is identifying the mission, vision and values shaping the strategic plan update. Then the organization will conduct an internal review, followed by an external review.
In the second phase, there will be a facilitation of outreach to internal and external stakeholders, followed by a review of feedback. Finally, phase three will consist of goal and strategy formulation. The results of these activities will be used to develop an implementation framework, as well as a process for tracking, monitoring and updating initiatives. The resulting strategic plan will then be reviewed by the aviation authority prior to adoption.