The Los Angeles city controller is working to put all financial activity for city agencies on-line, down to the invoice level.
Most recent agency’s financial statements to go online is LAX, the airport.
3/24 – Wall Street Journal – Follow the money at LAX –
Here is the income statement for LAWA, the airport authority. All amounts in millions of dollars:
- Revenue:
- 227.5 – landing fees
- 137.9 – passenger facility charges from tickets
- 365.4 – subtotal from airlines and passengers
- 354.1 – concession revenue
- 29.3 – customer facility charge ($10 rental car fee)
- 383.4 – subtotal
- 365.3 – building rentals
- 90.5 – land rentals
- 455.8 – rent subtotal
- 20.3 – interest income
- 20.3 – other
- 31.0 – federal grants
- 71.6 – other subtotal
- 1,276.8 – total income
Expenses:
- 374.0 – salary and benefits
- 174.7 – contractual service
- 46.1 – material and supplies
- 38.4 – utilities
- 21.7 – other
- 654.9 – subtotal, operating expenses, if you let me use that phrase
- 178.0 – depreciation and amortization
- 166.9 – interest expense
- 344.9 – depreciation and interest
- 999.8 – total expenses
- 277.0 – difference between revenue and expenses
By my calculation that is a 21.7% margin. Pretty cool. Nice contribution to the LA City budget.
I think those numbers include the Ontario airport, ONT. From the controller’s report, here is the breakout of income by airport
- 1,045.8 – LAX
- 56.9 – ONT – Ontario
- 16.8 – VNY – Van Nuys
- 3.1 – PMD – Palmdale
- 1,122.6 – total of above
Read into that breakout by airport what you wish. Since ONT has now been sold to the city of Ontario, it doesn’t matter.