AVIATION DEPARTMENT NOTICE - Broward County, Florida · BROWARD COUNTY AVIATION DEPARTMENT ANNUAL...

AVIATION DEPARTMENT

NOTICE

The Airport’s financial statements conform to the respective audited

financial statements contained in Broward County’s basic financial

statements. However, the financial statements, schedules and various

analyses represented in this Annual Financial Report are:

“Unaudited”

AVIATION DEPARTMENT

BROWARD COUNTY AVIATION DEPARTMENT

A Major Fund of Broward County, Florida

FORT LAUDERDALE / HOLLYWOOD INTERNATIONAL AIRPORT

NORTH PERRY AIRPORT

2007 ANNUAL FINANCIAL REPORT

Fiscal Year Ended September 30, 2007

(Unaudited)

Prepared By the Finance Division

Mark Spennacchio, Director of Finance

Natalie Otto, CPA, Assistant Director of Finance

Jackie Jackson, Accounting Manager

Finance Division Staff

Aida Smith, Collection Specialist

Jane Bronshteyn, Accounts Payable Specialist

Jeanne Cavelli, Division Administrative Assistant

Joann Daniels, Accounts Payable Specialist

Karla Drummond, Accounts Payable Specialist

Anthony Davidson, Capital Projects Finance Manager

Barbara Wright, Grants Administrator

Thomas Karakunnel, Property Accountant

Angela Lambert, Procurement Coordinator

Ishwar Mahadeo, Capital Payable Specialist

Sandra Alston, Senior Revenue/Cost Analyst

Monique Burn, Billing Specialist

Ron Rubin, General Ledger Accountant

Harriet Samar, Revenue Manager

Mercedes Pichardo, Administrative Specialist

Shirley Spanie, Disbursement Accountant

Pui King Liu, Capital Projects Accountant

Melva Cushman, Accounts Receivable Supervisor

Manny Lax, Compliance Manager


ANNUAL FINANCIAL REPORT

For the Year Ended September 30, 2007

(Unaudited)

TABLE OF CONTENTS

I - FINANCIAL SECTION

Overview and Analysis ....................................................................................................................................... I – 1

Financial Statements:

Comparative Statement of Net Assets ........................................................................................................... I – 10

Comparative Statement of Revenues, Expenses and Changes in Fund Net Assets ....................................... I – 11

Comparative Statement of Cash Flows .......................................................................................................... I – 12

Notes to Financial Statements ....................................................................................................................... I – 13

Summary of Significant Accounting Policies ......................................................................................... I – 14

Cash and Investments ............................................................................................................................. I – 17

Accounts Receivable .............................................................................................................................. I – 18

Restricted Assets .................................................................................................................................... I – 18

Capital Assets ......................................................................................................................................... I – 19

Lease and Concession Agreements ........................................................................................................ I – 20

Long-Term Liabilities ............................................................................................................................ I – 21

Capital Contributions ............................................................................................................................. I – 23

Airline-Airport Lease and Use Agreement ............................................................................................. I – 23

Commitments and Contingent Liabilities ............................................................................................... I – 23

Subsequent Events ................................................................................................................................. I – 23

II- SUPPLEMENTARY INFORMATION

Supplementary Information Locator Guide ................................................................................................... II – 1

Combining Statement of Net Assets ....................................................................................................... II – 2

Combining Statement of Revenues, Expenses and Changes in Net Assets ............................................ II – 4

Combining Statement of Cash Flows ..................................................................................................... II – 6

Debt Service Requirements to Maturity ................................................................................................. II – 8

Debt Service to Maturity by Series......................................................................................................... II – 9

Deposits to and Withdrawals from Special Funds and Accounts

Created Airport Bond Resolutions and the Airline-Airport Lease & Use Agreement ........................ II – 15

Airport System Revenue Bonds Debt Service Coverage ........................................................................ II – 16

Passenger Facility Charge Convertible Lien Bonds – Sufficiency Test ................................................. II – 17

III - STATISTICAL SECTION

Operating Statistics:

Annual Enplaned Passengers ......................................................................................................................... III – 1

Landed Weights............................................................................................................................................. III – 2

Aircraft Operations ........................................................................................................................................ III – 3

Air Cargo Activity ......................................................................................................................................... III – 4

Landing Fees ................................................................................................................................................. III – 5

Average Terminal Rent ................................................................................................................................. III – 6

Airline Cost per Enplaned Passenger ............................................................................................................ III – 7

Revenue Statistics:

Total Concession Revenue per Enplaned Passenger ..................................................................................... III – 8

Food & Beverage Revenue per Enplaned Passenger ..................................................................................... III – 9

News & Gifts Revenue per Enplaned Passenger ........................................................................................... III – 10

Rental Car Revenue per Enplaned Passenger ................................................................................................ III – 11

Parking Revenue per Enplaned Passenger ..................................................................................................... III – 12

Building & Ground Rental Revenue per Enplaned Passenger ....................................................................... III – 13

Airfield Revenue per Enplaned Passenger .................................................................................................... III – 14

Terminal Rent Revenue per Enplaned Passenger .......................................................................................... III – 15

Other Revenue per Enplaned Passenger ........................................................................................................ III – 16

Expense Statistics:

Personal Services Expense per Enplaned Passenger ..................................................................................... III – 17

Contractual Services Expense per Enplaned Passenger ................................................................................. III – 18

General Operating Expense per Enplaned Passenger .................................................................................... III – 19

Financial Statistics:

Passenger Facility Charges ............................................................................................................................ III – 20

Cash/Investments and Yields ........................................................................................................................ III – 21

Current Liquidity Ratio ................................................................................................................................. III – 22

Debt to Capital Asset Ratio ........................................................................................................................... III – 23

Debt Service per Enplaned Passenger ........................................................................................................... III – 24

Airport Information:

Airlines Servicing the Airport ....................................................................................................................... III – 25

Primary Origination & Destination for Airport Domestic Passenger Markets .............................................. III – 26

Scheduled Airlines ........................................................................................................................................ III – 27

Commuter Airlines, Charters, Cargo Carriers ............................................................................................... III – 28

Total Passengers ............................................................................................................................................ III – 29

Airline Market Share ..................................................................................................................................... III – 30

Comparative Airline Cost Per Enplanement by Major FLL Airlines ............................................................ III – 31

Bond Ratings ................................................................................................................................................. III – 32

Airport Information ....................................................................................................................................... III – 33

AVIATION DEPARTMENT

FINANCIAL

AVIATION DEPARTMENT - FY 2007 ANNUAL FINANCIAL REPORT I - 1

OVERVIEW & ANALYSIS

This narrative summarizes the overview and analysis of the financial activities of Fort Lauderdale-International Airport

(FLL) and North Perry Airport (HWO) for the fiscal year ended September 30, 2007. The financial activity of HWO, a

small general aviation airport is immaterial, but together the two airports make up the financial activity regarding the

Airport System for the five (5) fiscal years (FY) ending September 30, 2003 through September 30, 2007. All amounts,

unless otherwise indicated, are expressed in thousands of dollars.

Financial Highlights

Airport management continues to emphasize cost containment practices and the pursuit of revenue enhancement

opportunities. With increased passenger enplanements at FLL, operating revenues increased 61% during the five-year

period, primarily from non-aviation revenues received from parking and concessions.

Airline cost per enplaned passenger (a common industry measure) is the net result of balancing these practices. Airline

costs are those airport operating revenues received from the airlines. Terminal rent and landing fees are the major costs

impacting the airline cost per enplanement. The following table illustrates the results of this measure and the low cost per

enplaned passenger at FLL.

Terminal rental rates and landing fees are calculated in accordance with the Airline-Airport Lease and Use Agreements.

Terminal rental rates and landing fees have remained relatively stable during the five-year period.

The airline cost per enplanement (revenues received from passenger and cargo airlines) of $4.17 in FY 2007 reflected a

reduction when compared to FY 2003, despite the 70 % cumulative increase in operating expenses over the same period.

FINANCIAL


Summary of Financial Position

The following table summarizes BCAD's net assets as of September 30 for each of the last five years.

Net assets increased $182.9 million (27%) from $686.5 million in FY 2003 to $869.4 million in FY 2007. The

increase is primarily the result of the additional investment in capital and restricted assets, less restricted and non-

current liabilities.

FINANCIAL


Summary of Revenues and Expenses

Operating revenues increased 61% and non-operating revenues increased 309%, respectively, while operating

expenses increased 70% from FY 2003 to FY 2007. This resulted in total net income increasing $21.2 million or

(106%) from $20.1million in FY 2003 to $41.3 million in FY 2007 as summarized below.

An analysis of operating revenues, operating expenses and non-operating revenues follows.

Analysis of Operating Revenues

Airport System operating revenues increased $64.6 million or 61% during the five-year period from $106.7

million in FY 2003 to $171.3 million in FY 2007. The major components of operating revenues for each

fiscal year are summarized via the following chart and table:

Operating revenue increases

were mainly due to a $21.4

million or 35% increase in

concession and parking

revenues combined, during the

five-year period. In FY 2003,

concession and parking

revenues totaled $62.3 million

and were 59% of the $106.7

million total operating

revenues. These two non-

aviation revenue components

increased to $83.7 million and

represented 49% of the $171.3

million total operating revenues

in FY 2007. The 35% growth

rate outpaced the 28% growth

in enplaned passengers during

the same five year period. This

increase in non-aviation

revenues has been a major

factor in the ability to maintain

low terminal rents and landing

fees that result in low airline

costs per enplanement.

FINANCIAL


Concession revenues increased $9.1 million (29%) from $32.2million in FY 2003 to $41.3 million in

FY 2007 due to increases in airport traffic and guaranteed minimum payments. These revenues

accounted for 24% of total revenues in fiscal year 2007. Within the category of concessions, rental car

concessions and food & beverage concessions amounted to $24.7 million (15%) and $7.6 million (5%)

of operating revenues, respectively.

Parking revenues increased $12.4 million (42%) to $42.5 million during the same period and represented

25% of operating revenues for FY 2007. This growth was primarily due to an increase in total airline

passengers, the addition of valet parking service and an increase in short term parking rates.

Terminal, Building and Ground Rentals increased $40.9 million (135.0%) from $30.3 million in FY 2003 to

$71.2 million in FY 2007. These revenues are derived from the recovery of operating expenses through the

annual adjustment of terminal rental rates and the collection of the customer facility charges. These

revenues accounted for 41.6% of operating revenues in FY 2007. Terminal rents include revenues from

signatory airlines, non-signatory airlines, and non-airline terminal tenants, plus airline user fees for ticket

counters, gates, passenger boarding bridges and baggage conveyors. Building & ground rentals from airline

and non-airline sources primarily represent land and building leases, apron fees and tenant service rents.

Customer Facility Charges are fees charged by the rental car companies.

Landing fees plus miscellaneous fees increased (16.6%) during the five-year period. Together, they

represented $16.4 million or 9.6% of the $171.3 million total operating revenue in FY 2007. Landing fees

are calculated according to the Airline Lease and Use Agreements. Miscellaneous fees primarily include

security fees.

Analysis of Operating Expenses

While total operating expenses (including depreciation) have increased 70.0% during the five-year period,

total operating expenses per enplaned passenger have increased 33% from $10.76 in FY 2003 to $14.37 in

FY 2007 as shown below.

Operating expenses increased $66.2 million (71%) from $93.9 million in FY 2003 to $160.1 million in FY

2007. This increase is attributable to personal and contractual services to meet the demands of airline

passenger growth at FLL and security requirements.

FINANCIAL


Personal Services

22%

Contractual

Services

40%

Other

16%

Depreciation

21%

Personal services (salaries & wages and all employee fringe benefits) increased $5.8 million or 33% from

$20.2 million in FY 2003 to $26.9 million in FY 2007. During this period, total authorized staff positions

grew from 408 in FY 2003 to 424 in FY 2007, a 4% increase. Personal services accounted for 22% of total

operating expenses in FY 2007 compared to 21% in FY 2003.

Contractual services of $73.9 million increased $36.8 million or 99% from FY 2003 to FY 2007. This

growth is primarily attributable to increased costs in shuttle bus service, parking management, security, and

janitorial services. These increased costs are directly related to the large increase in airport traffic that

requires improving passenger services, such as shuttle frequency and parking management, with the

opening of additional parking facilities in FY 2000.

Other expenses totaling $25 million accounted for 15.7% of total operating expenses in FY 2007.

Collectively, these expenses increased by $9 million (56%) from $16 million in FY 2003. These include

such areas as legal, purchasing, information technology systems, human resources, central finance and

accounting services and utilities. The increased costs are associated with the growth the airport has seen

over the past five years.

Depreciation expense of $34.2 million represents 21% of operating expenses in FY 2007 compared to

$20.6 million (22%) in FY 2003.

FINANCIAL


Analysis of Non-Operating Revenues and Expenses

The components of the non-operating revenues and expenses category are shown as follows.

Passenger Facility Charges increased 92% from $23.7million in FY 2003 to $45.5 million in FY 2007, as a

result of an increase in collections and a rate increase from $3.00 to $4.50 per enplaned passenger. These

collections are done by the Airlines and remitted to the Airport net of a $0.11 collection charge. See

"PASSENGER FACILITY CHARGES" in section III of this report.

Interest income over the past five years has increased 323% from $6 million in FY 2003 to $25.5 million in

FY 2007. This increase is primarily attributable to interest earned on invested bond proceeds.

Interest expense increased 89% from $22.1 million in FY 2003 to $41.6 million in FY 2007. This increase

in interest expense is due to the issuance of additional bonds.

Summary of Cash Flow Activities

The following shows a summary of the major sources and uses of cash and cash equivalents for the past five

years. Cash equivalents are considered cash-on-hand, bank deposits and highly liquid investments with an

original maturity of three months or less.

Cash and cash equivalents increased $175 million or 103 % during the five year period from $169.9 million

in FY 2003 to $344.9 million in FY 2007.

FINANCIAL


Capital Acquisitions and Construction Activities

Property and Equipment (net of depreciation) increased $247.4 million (24%) from $1,036.9 million in FY

2003 to $1,284.3 million in FY 2007. Major projects nearing completion or under construction at

September 30, 2007 had an aggregate cost of $168.9 million.

Property and equipment as of September 30, 2007 consisted of the following:

Outstanding Bonds

The following table summarizes the Airport System Revenue (ASR) Bond and Passenger Facility Charge

(PFC) Convertible Lien Bond activity through September 30, 2007. Series F, G, and H provided

approximately $200 million funding for the 1998 Project. Series I provided funding for Terminal 1 and

Series J provided funding for the Consolidated Rental Car Facility. Series L provided funding for Exit

Road Funding Improvements and Grade Separated Pedestrian Bridges. Series M provided funding for

Security Enhancements, Renewal and Replacement Projects, partial funding for Terminal 4 Renovation,

Pay-on-Foot Upgraded Parking Revenue System, Airport Signage, Runway Implementation Plan

Initiatives, additional Public Parking and Sanitary Sewer project. Other changes include the refunding of

Series B with Series E in 1998, Series C with Series K and the scheduled retirements as noted below.

FINANCIAL


Airport System Revenue Bonds. The bond resolution contains a provision, among others, to set its revenue

rates and charges at a level where net revenues plus excess Airline Fees & Charges from the prior year

exceed required debt service payments by 125%. The following table illustrates the actual ASR debt

service coverage percentage.

PFC Convertible Lien Bonds. The following table illustrates the actual PFC revenues available for PFC

debt service from FY 2003 to FY 2007 and the annual debt service requirement from FY 2003 to FY 2007

following the issuance of the PFC Convertible Lien Bonds during 1998. While there is no debt service

coverage requirement, it is calculated at 204% in FY 2003 and 214% in FY 2007.

Credit Ratings and Bond Insurance

FINANCIAL


During October 2006, BCAD updated its credit ratings with the three major rating agencies and received

the following ratings:

Standard & Poor’s rating services assigned an “A+” to the County’s Airport System

revenue (ASR) Bonds and to the County’s Passenger Facility Charge (PFC) Bonds an “A”

rating with a positive outlook.

Fitch Ratings also assigned the same ratings to the bonds with a stable outlook

Moody’s Investor’s Service assigned an Aa3 rating with a stable outlook to the ASR

Bonds and an A1 rating on the PFC Bonds.

Passenger Facility Charge (PFC)

Effective January 1, 1995, the FAA authorized the Aviation Department to impose and use collected PFCs of

$3.00 per departing passenger at Fort Lauderdale - Hollywood International Airport (the Airport). In July

2005, the Airport received approval by the FAA to implement a $4.50 PFC effective October 1, 2005.

Through initial and subsequent FAA approvals, the Aviation Department is authorized to collect PFCs up to

$571,292,000 of which $333,389,000 has been collected as of September 30, 2007. This includes interest

earned on the collected dollars.

Request for Information

Our Annual Financial Report is designed to provide detailed information on BCAD’s operations.

Questions concerning any of the information provided in this report or any request for additional

information should be addressed to Mark Spennacchio, Director of Finance, Broward County Aviation

Department, 100 Aviation Boulevard, Fort Lauderdale, Florida 33315 or by e-mail to

[email protected].

FINANCIAL


(Unaudited)

2007 2006

ASSETS

Current Assets:

Cash and Cash Equivalents 30,677$ 42,232$

Receivables (Net) 6,446 6,443

Inventory 319 333

Other Current Assets 3,715 2,330

Total Current Assets 41,157 51,338

Noncurrent Assets:

Restricted Assets:

Cash and Cash Equivalents 86,699 38,487

Investments 382,048 447,400

Grant Receivables 10,753 15,522

Total Restricted Assets 479,500 501,409

Deferred Bond Issuance Cost 9,147 9,964

Capital Assets:

Land and Improvements 282,797 282,797

Buildings and Facilities 1,093,465 1,087,996

Equipment 14,717 14,227

Construction in Progress 168,954 92,887

Total Capital Assets 1,559,933 1,477,907

Less Accumulated Depreciation (275,646) (242,065)

Fixed Assets (Net) 1,284,287 1,235,842

Total Noncurrent Assets 1,772,934 1,747,215

Total Assets 1,814,091$ 1,798,553$

LIABILITIES AND NET ASSETS

Current Liabilities:

Vouchers Payable and Accrued Liabilities 25,881$ 25,155$

Due to Other County Funds - -

Other Current Liabilities 3,172 1,233 Total Current Liabilities 29,053 26,388

Current Liabilities Payable from Restricted Assets:

Vouchers Payable and Accrued Liabilities 15,126 14,583

Accrued Interest Payable 19,618 20,380

Revenue Bonds Payable 35,875 34,245

Deferred Revenue-Airline Fees and Charges 20,320 23,438

Total Current Liabilities Payable from Restricted Assets 90,939 92,646

Long Term Liabilities:

Revenue Bonds Payable 797,850 833,725

Notes Payable 17,166 21,966

Other Long-Term Liabilities and Unamortized Discount 9,690 9,660

Total Long Term Liabilities 824,706 865,351

Total Liabilities 944,698 984,385

NET ASSETS

Invested in Capital Assets, Net of Related Debt 634,423 563,174

Restricted:

Rate Stabilization 1,000 14,000

Debt Service 55,024 51,773

Passenger Facility Charge 100,704 96,318

Capital Projects 57,247 67,372

Total Restricted 213,975 229,4630

Unrestricted 20,995 21,5310

Total Net Assets 869,393 814,168

Total Liabilities and Net Assets 1,814,091$ 1,798,553$

(in thousands)

For Twelve Months Ended September 30, 2007 and 2006


COMPARATIVE STATEMENT OF NET ASSETS

FINANCIAL


FINANCIAL



(Unaudited)

2007 2006

Cash Flows from Operating Activities:

Cash Received from Customers 167,999$ 157,023$

Cash Payments to Suppliers for Goods and Services (97,881) (88,632)

Cash Payments to Employees for Services (26,255) (23,575)

Net Cash Provided by Operating Activities 43,863 44,816

Cash Flows from Noncapital Financing Activities:

Grants 1,618 1,280

Net Cash Provided by Noncapital Financing Activities 1,618 1,280

Cash Flows from Capital and Related Financing Activities:

Proceeds from Bond Sales

Loan Proceeds

Acquisition and Construction of Property, Plant and Equipment (87,412) (48,262)

Proceeds from Sale of Assets 131 0

Debt Principal Payment (34,245) (25,365)

Interest and Fiscal Charges (42,389) (43,388)

Capital Contribution 18,710 4,591

Receipt of Passenger Facility Charges 45,526 42,175

Net Cash Used for Capital and Related Financing Activities (99,679) (70,249)

Cash Flows from Investing Activities:

Purchase of Investment Securities (550,150) (1,089,443)

Proceeds from Sale and Maturities of Investment Securities 615,502 799,217

Interest and Dividends on Investments 25,503 21,726

Net Cash Provided by (Used for) Investing Activities 90,855 (268,500)

Net Increase (Decrease) in Cash and Cash Equivalents 36,657 (292,653)

Cash and Cash Equivalents, Beginning of Period 80,719 373,372

Cash and Cash Equivalents, End of Period 117,376$ 80,719$

Cash and Cash Equivalents in Current Assets 30,677 42,232

Cash and Cash Equivalents in Restricted Assets 86,699 38,487 Total Cash and Cash Equivalents (Above) 117,376$ 80,719$

Reconciliation of Operating Income to Net Cash Provided by

Operating Activities:

Operating Income 11,206$ 17,191$

Adjustments to Reconcile Operating Income to Cash Flows from Operating Activities:

Depreciation Expense 34,228 33,132

Miscellaneous Non-Operating Expense (130) 839

Changes in Assets and Liabilities:

(Increase) Decrease in Accounts Receivable (3) (273)

(Increase) Decrease in Due from Other County Funds 1

(Increase) Decrease in Other Current Assets (1,371) (742)

Increase (Decrease) in Vouchers Payable and Accrued Liabilities (635) (757)

Increase (Decrease) in Due to Other Goverments 26 (3,481)

Increase (Decrease) in Other Current Liabilities 541 (1,093)

Net Adjustments 32,657 27,625

Net Cash Provided by (Used for) Operating Activities 43,863$ 44,816$

COMPARATIVE STATEMENT OF CASH FLOWS

For Twelve Months Ended September 30, 2007 and 2006

(in thousands)

FINANCIAL


Notes to the Financial Statements

September 30, 2007 (Unaudited)

Note 1: Summary of Significant Accounting Policies .............................................................................I - 14

Note 2: Cash and Investments .................................................................................................................I - 17

Note 3: Accounts Receivable ..................................................................................................................I - 18

Note 4: Restricted Assets .........................................................................................................................I - 18

Note 5: Capital Assets .............................................................................................................................I - 19

Note 6: Lease and Concession Agreements .............................................................................................I - 20

Note 7: Long-Term Liabilities .................................................................................................................I - 21

Note 8: Capital Contributions ..................................................................................................................I - 23

Note 9: Airline-Airport Lease and Use Agreement .................................................................................I - 23

Note 10: Commitments and Contingent Liabilities ...................................................................................I - 23

Note 11: Subsequent Events ......................................................................................................................I - 23

FINANCIAL




NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A. Reporting Entity

The County owns and through the Aviation Fund of Broward County Aviation Department (BCAD),

operates the Fort Lauderdale-Hollywood International Airport (FLL), a major air carrier airport and the

North Perry Airport (HWO), a general aviation airport. The Aviation Fund is a major enterprise fund of

Broward County. All accounts of FLL and HWO are included in the Aviation Fund. There are no other

financial activities or funds considered for inclusion in BCAD’s reporting entity.

B. Basis of Accounting

The BCAD’s financial statements are presented using the flow of economic resources measurement focus

and the accrual basis of accounting. The economic resources measurement focus reports capital assets and

long-term debt on the statement of net assets. In turn, capital assets are depreciated and recorded as an

expense on the operating statement. The accrual basis of accounting recognizes revenues when they are

earned and expenses when incurred. However, during the fiscal year, BCAD operates using the flow of

financial resources measurement focus and modified accrual basis of accounting to comply with the

budgetary requirements of the County.

Revenues from airlines, concessions, rental cars and parking are reported as operating revenues.

Transactions which are capital, financing or investing related are reported as non-operating revenues. All

expenses related to operating the airport are reported as operating expenses. Interest expense and financing

costs are reported as non-operating expenses

C. Net Assets

Net assets represent the residual interest in BCAD’s assets after liabilities are deducted and consist of three

sections: Invested in capital assets, net of related debt, restricted and unrestricted net assets. Net assets

invested in capital assets, net of related debt includes capital assets, restricted and unrestricted, net of

accumulated depreciation, reduced by outstanding debt expended for capital assets. Net assets are reported as

restricted when constraints are imposed by third parties or enabling legislation. All other net assets are

unrestricted.

D. Proprietary Accounting and Financial Reporting

Pursuant to GASB Statement No. 20, Accounting and Financial Reporting for Proprietary Funds and Other

Governmental Entities That Use Proprietary Fund Accounting, BCAD applies all applicable GASB

pronouncements as well as FASB Statements and Interpretations, APB Opinions, and ARB’s issued on or

before November 30, 1989, unless those pronouncements conflict or contradict GASB pronouncements.

E. Cash and Cash Equivalents

Cash and cash equivalents consist of amounts in demand deposits as well as investments with a maturity of

three months or less from the date of purchase.

FINANCIAL




F. Accounts Receivable

Accounts receivable for the Aviation Fund are presented in the accompanying financial statements net of an

allowance for uncollectible accounts of $1,938,000 and $1,947,000 at September 30, 2007 and 2006,

respectively.

G. Inventory

Inventory consists of maintenance materials and supplies for consumption and is recorded at the lower of

cost or market value, using the first-in, first-out method.

H. Grants Receivable

The amount due from other governments represents grants receivable from the Federal and State

governments for their share of amounts expended on various capital projects.

I. Deferred Bond Issue Costs

Bond issue costs include underwriting spreads, insurance and various professional fees. The costs are

deferred and amortized over lives of respective bond issues.

J. Capital Assets

Property, plant and equipment acquired by BCAD are carried at cost, net of accumulated depreciation.

During construction of assets, interest incurred on related construction debt, less interest earned from

investments whose use is related capital improvements, is capitalized from the time of borrowing until

completion of the project. BCAD follows the policy of depreciating capital assets on the straight-line basis

over the following estimated useful lives:

Buildings and Facilities 3-40 years

Furniture, Fixtures and Equipment 3-15 years

K. Capitalized Interest

Interest is capitalized during construction to Construction in Progress, and consists of interest expense on

certain borrowings in excess of interest earned on related investments acquired with the proceeds of

borrowings.

L. Compensated Absences

BCAD’s policy is to permit employees to accumulate vacation and sick leave. The cost of earned but unused

vacation is accrued as a liability in the period in which the leave is earned. A liability for earned but unused

sick leave is accrued only to the extent that the leave will result in cash payments at termination. At

September 30, 2007 and 2006, such amounts aggregate $3,434,000 and $3,507,000 respectively and are

included in other current and long term liabilities.

FINANCIAL




M. Deferred Revenues – Airline Fees and Charges

Deferred revenues represent revenues earned in excess of certain required deposits in accordance with the

Airline-Airport Lease and Use Agreement.

N. Capital Contributions

Capital contributions consist mainly of grants from Federal and State governments. They are recognized as

earned as related project costs are incurred.

O. Passenger Facility Charges

In 1990, Congress authorized domestic airports to impose a Passenger Facility Charge (PFC) on each

departing passenger. Subsequently, the Federal Aviation Administration (FAA) issued regulations for the

use and reporting of PFCs. Airports are authorized to use PFCs for projects that must meet at least one of the

following eligibility requirements: (1) preserve or enhance safety, security, or capacity of the national

transportation system; (2) reduce noise or reduce noise impacts resulting from an airport; or (3) furnish

opportunities for enhanced competition between or among carriers.

Effective January 1, 1995, the FAA authorized the Aviation Department to impose and use collected PFCs of

$3.00 per departing passenger at Fort Lauderdale - Hollywood International Airport (the Airport). In July

2005, the Airport received approval from the FAA to implement a $4.50 PFC effective October 1, 2005.

Through initial and subsequent FAA approvals, the Aviation Department is authorized to collect PFCs up to

$571.2 million, of which $333.4 million has been collected as of September 30, 2007. The net receipts from

PFCs are non-refundable and restricted to be used on FAA approved capital projects and debt service on

revenue bonds that fund approved PFC eligible projects. As of September 30, 2007, $232.7 million of the

collected PFCs had been spent on approved projects or debt service, and the remaining $100.7 million was

reflected in restricted net assets. The ticketing airline includes the departing PFC in the price of each ticket

when it is sold to the traveler. The $4.50 PFC collected by the airlines is remitted monthly to the Airport,

less an $0.11 per passenger administrative fee.

P. Pension Costs

BCAD participates in the Florida Retirement System (FRS), a cost sharing, multiple-employer Public

Employment Retirement System, which covers substantially all permanent full and part-time employees. The

FRS is non-contributory and is totally administered by the State of Florida. Benefits are computed on the

basis of age, average final compensation and service credit. Average final compensation is the average of the

five highest fiscal years of earnings. The FRS provides vesting of benefits after six years of creditable

service. Early retirement may be taken any time after vesting; however, there is a 5% benefit reduction for

each year prior to normal retirement age or date. The FRS also provides death and disability benefits. A State

Statute establishes benefits.


FINANCIAL



Q. Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires

management to make estimates and assumptions that affect certain reported amounts and disclosures.

Accordingly, actual results could differ from those estimates.

R. Reclassifications

Certain amounts in the prior year financial statements have been reclassified to conform to the current year

presentation.

NOTE 2 - CASH AND INVESTMENTS

The County maintains a pool for substantially all cash and investments. Each fund type’s portion of the pool

is displayed on the balance sheet as “cash and cash equivalents” or “restricted assets” as appropriate. BCAD

also maintains bond proceeds and debt service accounts with Wells Fargo Bank who in turn makes

investments. At September 30, 2007 and 2006, BCAD’s cash and investments consist of the following (in

thousands):

FINANCIAL




NOTE 3 - ACCOUNTS RECEIVABLE

Accounts Receivable consists of the following (in thousands):

NOTE 4 - RESTRICTED ASSETS

Restricted assets and reserves of BCAD at September 30, 2007 represent amounts designated for

construction and restricted for debt service, maintenance and improvements under the terms of outstanding

bond agreements and regulatory requirements. The construction accounts include bond proceeds available

for the design and construction of the major expansion projects. The bond reserve accounts contain the

maximum amount of required principal and interest requirement on all outstanding bonds in a subsequent

fiscal year. The principal and interest account contains the principal and interest amounts required for

payment due on October 1. The passenger facility charges account contains amounts collected, but unspent

and the airline fees and charges account contains remaining funds at year end after all required deposits were

made from the operating account. Other capital funds account contains amounts to be used for renewal and

replacement and improvements.

Assets were restricted for the following purpose (in thousands):

FINANCIAL




NOTE 5 - CAPITAL ASSETS

A summary of changes in capital assets for the years ended September 30, 2007 and 2006 is as follows (in

thousands):

FINANCIAL




NOTE 6 - LEASE AND CONCESSION AGREEMENTS

The following is a schedule by years of minimum future revenues on non-cancelable agreements:

Total minimum future revenues do not include contingent revenues that may be received under certain

concession leases on the basis of a percentage of the tenants’ gross revenue in excess of stipulated

minimums. Contingent revenues amounted to approximately $ 41.2 million and $37.1 million for the years

ended September 30, 2007 and 2006, respectively.

FINANCIAL




NOTE 7 - LONG-TERM LIABILITIES

A summary of long-term liability activity for the years ended September 30, 2007 and 2006 was as follows

(in thousands):

FINANCIAL




A schedule of debt maturities is as follows:

$17,166,000 Notes Payable to Florida Department of Transportation due in fiscal years 2009-2012, is a

non-interest bearing loan used to fund the terminal roadways capital project.

A description of the bonds is as follows:

$75,560,000 Airport System Revenue Refunding Bonds Series E, dated July 15, 1998 was issued for the

purpose of redeeming $75,000,000 Airport System Revenue Bonds, Series B.

$10,530,000 Airport System Revenue Bonds Series F, dated July 15, 1998 was issued to pay certain project

costs and issuance costs.

$63,515,000 Airport System Revenue Bonds Series G, dated December 16, 1998 were issued to pay costs of

the 1998 Project and to fund additional reserves , capitalized interest and issuance costs.

$126,670,000 Passenger Facility Charge/Airport System Revenue Convertible Lien Bonds Series H, dated

December 16, 1998 was issued for the purpose of funding the 1998 Project and issuance costs.

$41,855,000 Passenger Facility Charge/Airport System Revenue Convertible Lien Bonds Series I, dated

May 24, 2001 was issued to pay a portion of the costs of the 2001 PFC Project and issuance costs.

$285,155,000 Airport System Revenue Bonds Series J, dated May 24, 2001 was issued for the purpose of

funding the consolidated rental car and public parking facility, capitalized interest and issuance costs.

$87,360,000 Airport System Revenue Refunding Bonds Series K, dated July 2, 2003 was issued to redeem

$89,160,000 Airport System Revenue Refunding Bonds, Series C.

FINANCIAL


$142,015,000 Airport System Revenue Bonds Series L, dated October 22, 2005 was issued to pay for the

2004 Project, capitalized interest and issuance costs.

$105,225,000 Airport System Revenue Bonds, Series M, dated October 29, 2004 was issued to pay for the

2004 Project, fund the increase in Reserve Requirement, capitalized interest, and issuance costs.

NOTE 8 - CAPITAL CONTRIBUTIONS

Grants and other contributions used to acquire capital assets are classified as capital contributions in the

Statement of Revenues, Expenses and Changes in Net Assets. Capital contributions consisted of the

following at September 30, (in thousands):

NOTE 9 – AIRLINE-AIRPORT LEASE AND USE AGREEMENT

BCAD has entered into a 25-year Lease and Use agreement with its major airline tenants (signatory airlines)

whereby a residual rate setting methodology was established for the terminal complex and the airfield. The

Airline Agreements terminate on September 30, 2011. The agreements require that landing fees and terminal

rentals be reviewed annually and adjusted as necessary so that the total revenue is sufficient to meet BCAD’s

requirements as determined by the signatory airline agreements. At the end of the fiscal year, after all

required deposits have been made; any remaining excess funds are used to meet the requirements in the

following fiscal year. These excess funds have been recorded as deferred revenue by BCAD at September

30, 2007 and have been included in current liabilities payable from restricted assets. For the year ended

September 30, 2007, these funds amounted to $20,320,000.

NOTE 10 - COMMITMENTS AND CONTINGENT LIABILITIES

Federal and State of Florida grants are subject to audit by the granting agencies to determine if activities

comply with conditions of the grant. Management believes that no material liability will arise from any such

audits.

At September 30, 2007, BCAD had in process various uncompleted construction projects with remaining

balances totaling $77,850,000. The retainage payable on these contracts totaled $6,813,000. Funding of

these projects is to be made primarily through the proceeds of the related bond issues.

NOTE 11 - SUBSEQUENT EVENTS

None

SUPPLEMENTARY INFORMATION

AVIATION DEPARTMENT - FY 2007 ANNUAL FINANCIAL REPORT II - 1

Supplementary Information Locator Guide

September 30, 2007

Combining Statement of Net Assets...................................................................................................... II – 2

Combining Statement of Revenues, Expenses and Changes in Net Assets ........................................... II – 4

Combining Statements of Cash Flows .................................................................................................. II – 6

Debt Service Requirements to Maturity ................................................................................................ II – 8

Debt Service to Maturity by Series ....................................................................................................... II – 9 to 14

Deposits to and Withdrawals from Special Funds and Accounts Created by Airport Bond

Resolutions and The Airline-Airport Lease & Use Agreement ………………………………………II – 15

Airport System Revenue Bonds Debt Service Coverage ...................................................................... II – 16

Passenger Facility Charge Convertible Lien Bonds – Sufficiency Test ................................................ II – 17



COMBINING STATEMENT OF NET ASSETS

September 30, 2007

(in thousands)

(Unaudited)

Airport System

Operation and Airline Fees Renewal &

Maintenance and Charges Replacement Improvement

ASSETS Total Account Account Account Account

Current Assets:

Cash and Cash Equivalents 30,677$ 29,677$ 1,000$ -$ -$

Receivables (Net) 6,446 6,446 - - -

Inventory 319 319 - - -

Other Current Assets 3,715 3,715 - - -

Total Current Assets 41,157 40,157 1,000 - -

Restricted Assets:

Cash and Cash Equivalents 86,699 52,861 20,320 - -

Investments 382,048 38,695 - 26,138 3,101

Grant Receivables 10,753 - - 251 -

Total Restricted Assets 479,500 91,556 20,320 26,389 3,101

Fixed Assets:

Land and Improvements 282,797 282,797 - - -

Buildings & Facilities 1,093,465 1,093,465 - - -

Equipment 14,717 14,717 - - -

Construction in Progress 168,954 168,954 - - -

Total Fixed Assets (Gross) 1,559,933 1,559,933 - - -

Less Accumulated Depreciation (275,646) (275,646) - - -

Total Fixed Assets (Net) 1,284,287 1,284,287 - - -

Other Assets:

Deferred Bond Issuance Cost 9,147 9,147 - - -

Total Assets 1,814,091$ 1,425,147$ 21,320$ 26,389$ 3,101$

LIABILITIES AND NET ASSETS

Liabilities:

Current Liabilities:

Vouchers Payable and Accrued Liabilities 25,881 25,881 - - -

Other Current Liabilities 3,172 3,172 - - -

Total Current Liabilities 29,053 29,053 - - -

Current Liabilities Payable from Restricted Assets:

Vouchers Payable and Accrued Liabilities 15,126 - - 676 17

Accrued Interest Payable 19,618 19,618 - - -

Revenue Bonds Payable 35,875 35,875 - - -

Deferred Revenue-Airline Fees and Charges 20,320 - 20,320 - -

Total Current Liabilities Payable from Restricted Assets 90,939 55,493 20,320 676 17

Long Term Liabilities:

Revenue Bonds Payable 797,850 622,264 - - -

Notes Payable 17,166 - - - -

Other Long Term Liabilities 9,690 7,895 - - -

Total Long Term Liabilities 824,706 630,159 - - -

Total Liabilities 944,698 714,705 20,320 676 17

Net Assets:

Invested in Capital Assets, Net of Related Debt 634,423 634,423 - - -

Restricted:

Debt Service 55,024 55,024 - - -

Passenger Facility Charge 100,704 - - - -

Capital Projects 57,247 - - 25,713 3,084

Total Restricted 847,398 689,447 - 25,713 3,084

Unrestricted 21,995 20,995 1,000 - -

Total Net Assets 869,393 710,442 1,000 25,713 3,084

Total Liabilities and Net Assets 1,814,091$ 1,425,147$ 21,320$ 26,389$ 3,101$



Facilities Passenger

Improvement & Restricted Facility

Development Discretionary Asset Charges Construction

Account Account Account Account Account

-$ -$ -$ -$ -$

- - - - -

- - - - -

- - - - -

- - - - -

7,586 - 5,932

10,058 13,298 1,441 100,704 188,613

5,444 - 93 - 4,965

23,088 13,298 1,534 100,704 199,510

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

23,088$ 13,298$ 1,534$ 100,704$ 199,510$

- - - - -

- - - - -

- - - - -

4,097 - 83 - 10,253

- - - - -

- - - - -

- - - - -

4,097 - 83 - 10,253

- - - - 175,586

- - - - 17,166

- - - - 1,795

- - - - 194,547

4,097 - 83 - 204,800

- - - - -

- - - - -

- - - 100,704 -

18,991 13,298 1,451 - (5,290)

18,991 13,298 1,451 100,704 (5,290)

- - - - -

18,991 13,298 1,451 100,704 (5,290)

23,088$ 13,298$ 1,534$ 100,704$ 199,510$



Airport System



Total Account Account Account Account

Operating Revenue:

Concessions 41,282$ 41,282$ -$ -$ -$

Parking 42,463 42,463 - - -

Terminal Rents and Charges 35,550 35,550 - - -

Airfield Fees and Charges 15,151 15,151 - - -

Building and Ground Rentals 35,626 35,626 - - -

Miscellaneous Fees 1,259 1,259 - - -

Total Operating Revenue 171,331 171,331 - - -

Operating Expenses Before Depreciation:

Personal Services 26,977 26,977 - - -

Contractrual Services 73,917 73,383 - 329 104

Other 25,003 25,003 - - -

Capital Outlay - - - 3,771 395

Total Expenses Before Depreciation 125,897 125,363 - 4,100 499

Operating Income Before Depreciation 45,434 45,968 - (4,100) (499)

Depreciation 34,228 34,228 - - -

Operating Income 11,206 11,740 - (4,100) (499)

Non-Operating Income (Expense):

Federal & State Grants 1,618 1,618 - - -

Passenger Facility Charges 45,526 - - - -

Interest Income 25,503 6,889 - 1,053 153

Interest Expense (41,627) (41,627) - - -

Amortization of Bond Issuance Cost (817) (817) - - -

Gain (Loss) on Disposal of Asset 6 6 - - -

Other Non-Operating (130) (130) - - -

Total Non-Operating Income 30,079 (34,061) - 1,053 153

Net Income Before Contributions and Transfers 41,285 (22,321) - (3,047) (346)

Capital Contributions 13,941 - - 747 25

Oper. Transfer In (Out) from Operating and Maint. Acct. 55,297 23,913 - 6,200 547

Oper. Transfer In (Out) from Airlines Fees & Charges Acct. - - - - -

Oper. Transfer In (Out) from Passenger Fac. Charges Acct. (55,297) (7,497) - (1,000) -

Oper. Transfer In (Out) From Construction Account - - - - -

Change in Net Assets 55,226 (5,905) - 2,900 226

Total Net Assets, Beginning of period 814,167 648,557 14,000 30,035 4,170

Total Net Assets, End of period 869,393$ 642,652$ 14,000$ 32,935$ 4,396$

September 30, 2007

(In Thousands)

(Unaudited)

COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS



Airport System



Total Account Account Account Account

Cash Flows from Operating Activities:

Cash Received from Customers 167,999$ 171,117$ (3,118)$ -$ -$

Cash Payments to Suppliers for Goods and Services (97,881) (97,347) - (329) (104)

Cash Payments to Employees for Services (26,255) (26,255) - - -

Net Cash Provided by (Used for) Operating Activities 43,863 47,515 (3,118) (329) (104)

Cash Flows from Noncapital Financing Activities:

Grants 1,618 1,618 - - -

Operating Transfers In 23,887 (7,497) - 6,200 547

Operating Transfers Out (23,887) 23,913 - (1,000) -

Net Cash Provided by (Used for) Noncapital Financing Activities 1,618 18,034 - 5,200 547

Cash Flows from Capital and Related Financing Activities:

Loan Proceeds - - - - -

Acquisition and Construction of Property, Plant and Equipment (87,412) - - (3,771) (395)

Proceeds from Sale of Assets 131 131 - - -

Debt Principal Payment (34,245) (34,245) - - -

Interest and Fiscal Charges (42,389) (42,389) - - -

Capital Contribution 18,710 - - - -

Receipt of Passenger Facility Charges 45,526 - - - -

Net Cash Provided by (Used for) Capital and Related Financing Activities (99,679) (76,503) - (3,771) (395)

Cash Flows from Investing Activities:

Purchase of Investment Securities (550,150) - - - -

Proceeds from Sale and Maturities of Investment Securities 615,502 - - - -

Interest and Dividends on Investments 25,503 6,889 - 1,053 153

Net Cash Provided by (Used for) Investing Activities 90,855 6,889 - 1,053 153

Net Increase (Decrease) in Cash and Cash Equivalents 36,657 (4,065) (3,118) 2,153 201

Cash and Cash Equivalents, Beginning of Period 80,719 38,219 14,000 - -

Cash and Cash Equivalents, End of Period 117,376 34,154 10,882 2,153 201

Cash and Cash Equivalents in Current Assets 30,677 29,677 1,000 - -

Cash and Cash Equivalents in Restricted Assets 86,699 52,861 20,320 - -

Total Cash and Cash Equivalents (Above) 117,376$ 82,538$ 21,320$ -$ -$

Reconciliation of Operating Income to Net Cash Provided by

(Used for) Operating Activities:

Operating Income (Expense) 11,206$ 11,740$ -$ (329)$ (104)$

Adjustments to Reconcile Operating Income to Cash Flows from Operating Activities:

Depreciation Expense 34,228 34,228 - - -

Miscellaneous Non-Operating Income (130) (130) - - -

Changes in Assets and Liabilities:

(Increase) Decrease in Accounts Receivable (3) (3) - - -

(Increase) Decrease in Inventory - - - - -

(Increase) Decrease in Other Current Assets (1,370) (1,370) - - -

Increase (Decrease) in Vouchers Payable and Accrued Liabilities (635) 2,483 (3,118) - -

Increase (Decrease) in Other Current Liabilities 567 567 - - -

Net Adjustments 32,657 35,775 (3,118) - -

Net Cash Provided by (Used for) Operating Activities 43,863$ 47,515$ (3,118)$ (329)$ (104)$

(in thousands)

(Unaudited)

COMBINING STATEMENT OF CASH FLOWS

September 30, 2007



Facilities Passenger

Improvement & Restricted Facility

Development Discretionary Asset Charges Construction

Account Account Account Account Account

-$ -$ -$ -$ -$

(78) - (23) - -

- - - - -

(78) - (23) - -

- - - - -

1,016 - 1,000 22,621

- - - (46,800) -

1,016 - 1,000 (46,800) 22,621

- - - - -

(19,368) - (2,555) - (61,323)

- - - - -

- - - - -

- - - - -

- - - - 18,710

- - - 45,526 -

(19,368) - (2,555) 45,526 (42,613)

- - - - (550,150)

- - - - 615,502

809 693 14 5,660 10,232

809 693 14 5,660 75,584

(17,621) 693 (1,564) 4,386 55,592

- - - - 28,500

(17,621) 693 (1,564) 4,386 84,092

- - - - -

7,586 - - - 5,932

7,586$ -$ -$ -$ 5,932$

(78)$ -$ (23)$ -$ -$

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

(78)$ -$ (23)$ -$ -$



SCHEDULE OF DEPOSITS TO AND WITHDRAWALS FROM SPECIAL FUNDS AND ACCOUNTS

CREATED BY AIRPORT BOND RESOLUTIONS AND THE AIRLINE-AIRPORT LEASE & USE AGREEMENT

For The Twelve Months Ended September 30, 2007

(in thousands)

(Unaudited)

Balances Balances

Oct. 1, 2006 Deposits Withdrawals Sept.30, 2007

Restricted Accounts/Funds

Bond Debt Service Accounts/Funds:

Series E and F Principal and Interest 3,131$ 5,209$ 5,109$ 3,231$

Series G Principal and Interest 3,157 5,598 4,329 4,426

Series H Principal and Interest 6,793 9,305 9,028 7,070

Series I Principal and Interest 2,000 3,020 2,945 2,075

Series J Principal and Interest 13,976 22,695 21,948 14,723

Series K Principal and Interest 17,589 18,699 17,830 18,458

Series L Principal and Interest 7,554 10,734 10,466 7,822

Series M1 & M2 Principal and Interest 2,343 5,672 7,565 450

Bond Reserves 49,855 2,407 0 52,262

Total Bond Debt Service Accounts/Funds 106,398 83,339 79,220 110,517

Capital Construction Accounts/Funds:

Construction Funds 193,300 55,609 73,323 175,586

Renewal and Replacement 23,812 8,000 5,674 26,138

Discretionary 12,611 692 7 13,296

Facilities Improvements and Development 26,002 15,297 23,655 17,644

Restricted Assets-North Perry 1,085 3,017 2,661 1,441

Improvements 2,923 724 546 3,101

Passenger Facilities Charges 96,318 51,186 46,800 100,704

Total Capital Construction Accounts/Funds 356,051 134,525 152,666 337,910

Airline Fees and Charges Sub-Account 23,438 20,320 23,438 20,320

Total Restricted Accounts/Funds 485,887$ 238,184$ 255,324$ 468,747$

Restricted Account Balances:

Cash and Cash Equivalents 38,487$ 86,699$

Investments 447,400 382,048

Total Restricted Accounts/Funds (As Above) 485,887 468,747

Revenue Account 42,232 206,757 218,312 - 30,677

Total Cash, Cash Equivalents and Investments 528,119$ 444,941$ 473,636$ 499,424$

Note:

All ending balances include accrued interest

STATISTICS

AVIATION DEPARTMENT - FY 2007 ANNUAL FINANCIAL REPORT III - 1

STATISTICS


STATISTICS


Market of Origin or Destination1

Air Miles from

FLL % Share

New York 21.1%

John F Kennedy 1,069 6.2%

La Guardia 1,076 7.8%

Newark Intl 1,065 5.9%

Islip (MacArthur 1,093 1.1%

Washington D.C./Baltimore 5.9%

Baltimore/Wash Int'l 925 2.6%

Dulles Intl 901 1.5%

Ronald Reagan Nt 899 1.8%

Chicago 4.4%

O'Hare Intl 1,168 2.6%

Chicago Midway 1153 1.8%

Other Cities

Boston 1,237 5.9%

Philadelphia Int 992 3.6%

Atlanta 581 3.5%

Detroit 1,127 2.5%

Los Angeles Intl 2,316 2.2%

Tampa Intl 197 2.0%

Las Vegas 2,174 1.7%

San Juan, P.R. 1,046 1.6%

Dallas/Ft Wor In 1,114 1.6%

Jacksonville Int 318 1.5%

Hartford 1,173 1.4%

Denver Intl 1,700 1.4%

Orlando Intl 178 1.1%

Pittsburgh Intl 994 1.1%

Charlotte 625 1.0%

Nashville 793 1.0%

Providence 1,188 1.0%

Phoenix 1,969 1.0%

Cleveland 1,062 1.0%

St. Louis 1,058 0.9%

Houston 951 0.8%

Atlantic Cty Int 977 0.8%

Indianapolis 1,005 0.8%

Cities Listed 70.8%

All Others 29.2%

Total 100.0%

DOMESTIC PASSENGER ORIGIN-DESTINATION MARKETS

Fort Lauderdale-Hollywood International Airport

For the 12 months ended September, 30 2007

______________

(1) Markets with 1.0 percent or more of total inbound and outbound domestic passengers on scheduled airlines at the

Airport on the basis of a 10 percent sample for the 12 months ended September 30, 2007.

STATISTICS


SCHEDULED AIRLINES

STATISTICS


COMMUTER AIRLINES

CHARTERS

CARGO CARRIERS

.

STATISTICS


AVIATION DEPARTMENT NOTICE - Broward County, Florida · BROWARD COUNTY AVIATION DEPARTMENT ANNUAL...

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Transcript of AVIATION DEPARTMENT NOTICE - Broward County, Florida · BROWARD COUNTY AVIATION DEPARTMENT ANNUAL...