SLO airport short on funds

The regional airport is running short of operating money and may need half a million dollars to balance the current year’s fiscal budget, according to a report the Board of Supervisors will discuss Tuesday.

“An infusion of $500,000 ….. may be necessary in the current fiscal year to balance the airport budget,” the report from the county administrative office says about the San Luis Obispo Regional Airport.

Administrators pointed to two major fiscal problems.

* Spaces in newly constructed T hangars are going unrented, and the county is unable to repay the loan from CalTrans that was used to build them. Revenue rentals are currently $250,000 less than the annual loan repayment expense of $334,000.

* Funding for contracted work on a new airport terminal was supposed to come from Federal Aviation Administration and passenger facility fees. That money is coming in at $500,000 less than needed to cover costs, the administration says.

In addition, passengers continue to abandon the airport as a means of transportation, according to the report.