The Augusta Regional Airport approved its 2023 budget at its Finance Committee meeting Thursday morning.
Risa Bingham, Augusta Regional’s Finance Director, broke down the budget before the committee, highlighting the financial flux caused by the pandemic.
“Until COVID, the budget was fairly simple because we had a consistent operation,” said Bingham. “Nothing is unpredictable. We used to go over the prior year, make a little bit of an adjustment and that’s it. Things changed after COVID.”
Bingham noted that 2019 was not only a normal year, but “a good year,” with one of the airport’s highest enplanement (or passenger boarding) numbers. In contrast, 2020 proved one of the worst years, maxing at a negative bottom line.
2021 was a year of recovery, she said, reaching to about 78-80% of 2019’s numbers. The final operational budget for 2023 is projected at about $3.3 million. June 2022 saw the budget at $3.6 million, “almost double 2019, the best year pre-COVID,” Bingham said.
The newly-approved 2023 budget soon became relevant at the Augusta Aviation Commission special called meeting that immediately followed. Director of Operations Tim Weegar told the commissioners that Augusta Regional’s insurance brokerage agreement with Blanchard and Calhoun expires at the end of this year, and that February the operations staff shopped around requests for proposals
“We only received one, and it was Blanchard and Calhoun again,” Weegar said. “Their proposal was good; we combined our score and their score downtown; they were happy, the airport’s happy.”
The commission voted to approve the new three-year contract with Blanchard and Calhoun, effective at the beginning of next year and renewable for two more.
The special meeting itself was called in order to approve a Federal Aviation Administration grant of $552,141, specifically designated to go towards the study for the airport’s terminal expansion. The deadline for accepting the grant is Aug. 26, which would not have allowed the commission time to officially approve within its normal schedule.
Skyler Q. Andrews is a staff reporter covering business for The Augusta Press. Reach him at skyler@theaugustapress.com.
