The Indianapolis Airport Authority’s board last week approved a $200 million fiscal 2011 operational budget and a $50 million capital budget that includes no new borrowing.
The Indianapolis-Marion County City County Council needs to approve the budgets. The municipal corporation committee has scheduled a hearing for Sept. 27. The spending plan includes no new parking or landing fees, but assumes a 2.2% increase in passenger traffic. That translates to a 2.9% growth in parking revenue and a 2.1% rise in retail sales.
The $50 million capital budget — up from the $34 million 2010 budget — could be scaled back, the authority said.
The budget also projects a decrease in interest payments next year due to a drop in principal and “continued performance of synthetically fixed variable-rate debt,” the authority said. The IAA has roughly $1 billion in outstanding debt.
