budget for aviation and dulles corridor enterprise funds

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2012 BUDGETMetropolitan Washington Airports AuthorityDulles International, refers to the plan for which the Airports Authority assumed responsibilityunder the federal lease, including any amendments to either plan.MASTER TRANSFER AGREEMENT — The agreement between the Airports Authority andthe Department relating to the transfer of the Dulles Toll Road and the Dulles CorridorMetrorail Project dated December 29, 2006.MEMORANDUM OF AGREEMENT — The Metropolitan Washington Airports Authority Boardof Directors today unanimously approved a resolution ratifying a Memorandum of Agreement(MOA) that will ensure the continuation of the Dulles Rail extension to Loudoun County. TheMemorandum of Agreement is a multi-party agreement that outlines the fiscal responsibilitiesof federal, state and local entities in the estimated $2.8 billion Phase 2 of the rail project.METROPOLITAN WASHINGTON AIRLINES COMMITTEE (MWAC) — MWAC providestechnical representative from the airline community to the Airports Authority to coordinate onthe CCP.METROPOLITAN WASHINGTON AIRPORTS AUTHORITY — The Airports Authorityoperates Reagan National and Dulles International under an 80-year lease agreement withthe U.S. Department of Transportation. Congress authorized the lease of the Airports,formerly operated by the Federal Aviation Administration, in October 1986. The lease of theAirports to the Airports Authority by the federal government was signed on March 2, 1987,and operating responsibility for the Airports was transferred to the Airports Authority on June7, 1987.MIDFIELD CONCOURSES — Midfield Concourses B and C/D, were built at DullesInternational by the Airlines, one at each end of the jet ramp, to accommodate growth inactivity until replaced by permanent facilities. A permanent midfield concourse, MidfieldConcourse B, built by the Airports Authority and opened in February 1998, was funded fromPFCs and Airports Authority net remaining revenue. A Regional Airline Midfield Concourse,connected to Concourse B/Concourse A opened in April 1999 to accommodate bothturboprop and jet regional/commuter aircraft. Mobile Lounges and Plane-Mates are used toshuttle passengers between the Midfield Concourses and the Main Terminal.MOBILE LOUNGE — A vehicle for transporting passengers between and among the DullesInternational terminals, concourses, and aircraft. Developed specifically for use at DullesInternational, these vehicles can carry up to 102 passengers, with 71 seated. One end of thelounge mates with the terminal building, the other is equipped with a passenger bridge toconnect with aircraft. A total of 21 Mobile Lounges were built, of which 12 are stilloperational. This fleet has been supplemented with 30 second-generation passengerconveyance vehicles, of which 24 are currently operational. See “Plane-Mates.”NATIONAL AIRLINE — An airline with gross operating revenues of between $100 millionand $1 billion during any calendar year. See also “Commuter Airline,” “Major Airline,” and“Regional Airline.”300
2012 BUDGETMetropolitan Washington Airports AuthorityNET INCOME — Operating and nonoperating revenues less nonoperating expenses, debtservice and reserve contributions.NET OPERATING INCOME — Total operating revenues less total operating expenses.NET REMAINING REVENUE (NRR) — For any fiscal year, the total of revenues andtransfers less (a) operation and maintenance expenses, including the federal lease payment;(b) debt service; (c) the amount of rental credits given to certain scheduled air carriers as setforth in the surviving agreements; and (d) required deposits to maintain the operation andmaintenance reserve and the COMIP reserve. Under the Airline Agreement, NRR is furtheradjusted by deducting depreciation and airline subordinated debt service coverage. Theresulting balance is then divided by a formula between the Airports Authority and theSignatory Airlines.NET TOLL REVENUES — The total amount of toll revenue collected minus expenditures foroperations, administration, and maintenance and uncollectible tolls.NONOPERATING EXPENSES — The collective term for expenses associated with theRenewal and Replacement Program, Corridor Capital Improvements, Metrorail CapitalProject and Latent Defects, and Eligible Transit Operating Costs.NONOPERATING REVENUE — The collective term for monies generated by interestincome, other capital contributed, and investment income on capital contributed.OPERATING EXPENSES — The Airports Authority’s financial statements are prepared onthe accrual basis in accordance with generally accepted accounting principles (GAAP). Forbudget purposes, however, operating expenses have been modified to conform to theprovisions of the Airline Agreement. Under the terms of the Airline Agreement, beginning onOctober 1, 1989, capital equipment and capital facility projects funded from the O&MProgram are treated as operating expenses. Previously acquired capital equipment andcapital facility projects continue to be recovered through depreciation. The bond-financedportion of the CCP and the bond-financed pension liability are recovered through debtservice. The COMIP is recovered through depreciation and funded from the AirportsAuthority’s share of net remaining revenue. Any maintenance-type projects funded frombonds are recovered through debt service.OPERATING INCOME — Operating revenues less operating expenses equal operatingincome. Although the Airports Authority’s financial statements are prepared on the accrualbasis in accordance with generally accepted accounting principles (GAAP), for budgetpurposes, operating revenues and operating expenses are defined under the terms of theAirline Agreement. See the definitions of “Operating Revenues” and “Operating Expenses”for clarification.OPERATING REVENUES — The Airports Authority’s financial statements are prepared onthe accrual basis in accordance with generally accepted accounting principles (GAAP). Forbudget purposes, however, operating revenues have been modified to conform to the301
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Washington Dulles International Air
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RESOLUTION NO. 11-36Adopting the 20
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for approval before it takes effect
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The Government Finance Officers Ass
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Aviation - Capital, Operating and M
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Comparison of 2011 & 2012 Operating
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Mr. Charles D. SnellingPage 2 of 17
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CAPITAL, OPERATING & MAINTENANCE IN
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DULLES CORRIDOR ENTERPRISE - CAPITA
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