[Federal Register Volume 61, Number 53 (Monday, March 18, 1996)]
[Notices]
[Pages 11077-11078]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-6408]



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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration
[Docket No. 28495]


Airport Financial Reports

AGENCY: Federal Aviation Administration (FAA), Department of 
Transportation (DOT).

ACTION: Notice of availability; request for comments.

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SUMMARY: This document announces the availability of formats for the 
preparation and filing of certain financial reports required from 
sponsors of federally assisted airports, and requests comments on those 
formats. The FY 1994 FAA Authorization Act included provisions 
requiring two new reports from airport sponsors. The first requires 
sponsors of federally assisted airports to report to the Department of 
Transportation amounts paid and services provided to other units of 
government. The second requires that the sponsor of each commercial 
service airport report in detail the total revenue and expenditures at 
the airport, including revenue surplus. This notice provides 
information on obtaining copies of the formats, assistance from the FAA 
in completing the reports, and directions for submitting the required 
reports. In the near future the FAA will issue further guidance on the 
filing of this information in an electronic data format and may issue 
revised formats in response to comments received.

DATES: Comments on the reporting formats contained in this notice are 
due May 2, 1996. Financial reports described in this notice are due 
from airport sponsors on the 60th day following the end of the 
sponsor's fiscal year, beginning the first fiscal year ending after the 
date of this notice.

ADDRESSES: Comments should be mailed, in quadruplicate, to: Federal 
Aviation Administration, Office of Chief Counsel, Attention: Rules 
Docket (AGC-200), Docket No. 28495, 800 Independence Avenue, SW., 
Washington, DC 20591. All comments must be marked: ``Docket No. 
28495.'' Commenters wishing the FAA to acknowledge receipt of their 
comments must include a pre-addressed, stamped postcard on which the 
following statement is made: ``Comments to Docket No. 28495.'' The 
postcard will be date stamped and mailed to the commenter. Comments on 
this Notice may be examined at the above address in room 915G on 
weekdays, except on Federal holidays, between 8:30 a.m. and 5 p.m.
    Copies of the report formats and instructions for completing the 
reports are available from the persons listed under ``For Further 
Information Contact,'' and may also be downloaded via internet from the 
Office of the Associate Administrator for Airports World Wide Web site 
at: http:www.faa.gov/arp/arphome.htm.
    Reports must be submitted to the airport sponsor's Airports 
District Office and to: Airport Safety and Compliance Branch, AAS-310, 
ATTN: AIRPORT FINANCIAL REPORTS, Federal Aviation Administration, 800 
Independence Ave., NW., Washington, DC 20591.

FOR FURTHER INFORMATION CONTACT: Benedict D. Castellano, Manager, 
Airport Safety and Compliance Branch, AAS-310, Federal Aviation 
Administration, 800 Independence Ave. S.W., Washington, DC 20591, 
telephone (202) 267-8728; or Ellis Ohnstad, Manager, Airports Program 
Guidance Branch, APP-510, Federal Aviation Administration, 800 
Independence Avenue, S.W., Washington, DC 20591, telephone (202) 267-
3431.

SUPPLEMENTARY INFORMATION:

Federal Aviation Administration Authorization Act of 1994

    This proposed statement of policy and related procedures is being 
published pursuant to section 111 of the Federal Aviation 
Administration Authorization Act of 1994, Public Law 103-305 (August 
23, 1994) (1994 Authorization Act). That section requires the 
Secretary, through a new grant assurance and through establishment of a 
new report format, to require two new reports relating to airport 
revenue.
    Section 111(a) of the 1994 Authorization Act amends Title 49 U.S.C. 
47107(a) to add a new sponsor assurance. New assurance no. 26(e) 
requires airport owners or operators to submit to the Secretary and 
make available to the public an annual report listing all amounts paid 
by the airport to other units of government and the purposes for the 
payments. Airport owners or operators must also make available a 
listing of all services and property provided to other units of 
government and the amount of compensation received for provision of 
each such service and property.
    Section 111(b) of the 1994 Authorization Act requires the Secretary 
to issue a simplified format for financial reporting for airports, to 
assist in public understanding of airport finances and to provide 
information concerning the amount of any revenue surplus, the amount of 
concession-generated revenue, and other information required by the 
Secretary. Under existing Assurance 26, the sponsor is obligated to 
submit such annual or special financial and operations reports as the 
Secretary may reasonably request. Section 111(b) specifies a report to 
be submitted under that authority. Specifically, Section 111(b) 
requires that the report include:

* * *information relating to total revenues, operating expenditures, 
capital expenditures, debt service payments, contributions to 
restricted funds, accounts, or reserves required by financing 
agreements or covenants or airport lease or use agreements or 
covenants. Such format shall require each commercial service airport 
to report the amount of any revenue surplus, the amount of 
concession-generated revenue, and other information as required by 
the Secretary.

An operating and financial report, such as the Operating and Financial 
Summary, may be required under Assurance No. 26 at the request of the 
Secretary. Responsibility for administration of this requirement is 
delegated to the FAA. By this notice the FAA is requiring the filing of 
annual financial and operating reports under

[[Page 11078]]
Assurance No. 26 in accordance with Section 111 of the 1994 
Authorization Act.

Airport Sponsors Required To File Reports

    Sponsors of commercial service airports are required to file both 
reports. While the Governmental Payment and Services Report is 
technically required from all sponsors accepting grants with the new 
assurance, the FAA will require submission of the report to the 
Airports District Office and Washington headquarters only by commercial 
service airports at this time. There are slightly more than 600 
commercial service airports in the United States. This group of 
airports includes the airports used by air carriers, and includes all 
of the largest airports most likely to be able to generate excess 
revenue that could be diverted to non-airport uses. Other airport 
sponsors subject to the requirement must prepare the report and make it 
available on request to the FAA, members of the public, and members of 
the airport user community. The FAA may require that all airports 
submit the Governmental Payment and Services Report in the future.

Sponsors Operating More Than One Airport

    Generally, a separate report must be submitted for each airport. 
State governments that operate multiple airports may request an 
exception to this requirement to consolidate reports for certain 
airports, such as non-commercial or non-primary airports. The request 
must be submitted in writing to the FAA office that administers the 
sponsor's projects (e.g., Airports District Office) and must include an 
explanation of the reasons for proposed consolidation of multiple 
airports in one report, a list of the airports that would be affected, 
and an explanation of why the consolidation would not significantly 
affect the collection of information on revenue use at those airports.

Effective Date and Time for Filing

    The formats and instructions for the two reports described in this 
notice are effective on the date of publication of this notice. The 
requirement to file the Governmental Payment and Service Report is 
effective upon the acceptance of a grant containing new Assurance No. 
26(e) required by 49 U.S.C. 47107(a)(19). The FAA is requiring the 
filing of annual financial and operating reports under Assurance No. 26 
effective upon publication of this notice.
    Both reports are due 60 days after the end of the sponsor's fiscal 
year, beginning the first year that ends after the publication date of 
this notice. This will require that the report include information on 
part of a fiscal year prior to publication of the notice. However; the 
information requested in the report is basic airport financial 
information, and would have been collected and recorded by a sponsor in 
any event. Accordingly, we would not expect the reporting of 
information for the current fiscal year to be an undue burden on 
sponsors. Comment is requested on any specific hardships with the 
reporting of this information.

Where To File Reports

    Sponsors should send one copy of each report to the FAA office that 
administers the sponsor's grants and one copy to the Airport Safety and 
Compliance Branch, AAS-310, ATTN: AIRPORT FINANCIAL REPORTS, Federal 
Aviation Administration, 800 Independence Ave., NW., Washington, DC 
20591. Also, all reports must be made available to the public and to 
airport users on request. The reports represent summaries of airport 
financial activity only, and the FAA expects that the sponsor will have 
detailed accounting information and records available to support the 
summaries if requested by the FAA.

Signature Level of Certifying Official

    The reports must be signed by:
    (1) The principal financial officer of the airport authority, if 
the airport is an independent authority;
    (2) the principal financial officer of the local political 
jurisdiction that operates the airport, if the airport is operated as 
an agency or department of local government; or
    (3) the principal financial officer of the state executive 
department that operates the airport, if the airport is operated by a 
state government.

Electronic Data Submission

    The formats made available indicate how the information included in 
the reports is to be categorized and organized if filed by hard copy 
report. It is the FAA's intention to provide for the filing of this 
information using an electronic data format. The FAA will publish more 
detailed information on the format and technical requirements for 
electronic data format filing prior to July 1, 1996. It is contemplated 
that the reports will be required on electronic spreadsheet and word 
processing programs, submitted electronically or on standard-format 
computer diskettes. Word processing and spreadsheet files will be 
required to be readable by current versions of one or more of the 
following programs, or in such other format as may be specified by 
notice in the Federal Register: Microsoft Word, Word Perfect, Ami Pro, 
Microsoft Excel, Lotus, Quattro Pro, or ASCII tab-delineated files. 
Submissions in electronic form will assist the FAA to analyze data and 
prepare reports, including consolidated reports to Congress, on the 
individual submissions. The paper copy would be the official record 
copy of the report, but sponsors would certify that files on the 
diskette are true copies of the data file used to prepare the printed 
version of the report.

Effective Date and Request for Comments

    The reporting formats made available at this time are effective 
upon publication of this notice and should be used until superseded by 
a new format published in the Federal Register. Copies of the formats 
are available from the persons listed under for further information 
contact and may also be downloaded by internet from the Office of the 
Associate Administrator for Airports World Wide Web site at: http:/
www.faa.gov/arp/arphome.htm.
    Comments are invited on the format and instructions for each 
report. The FAA will make every effort to make any changes in the 
format and publish notice of the revised form in the Federal Register 
prior to June 30, 1996.

    Issued in Washington, DC on March 13, 1996.
James H. Washington,
Acting Associate Administrator for Airports.
[FR Doc. 96-6408 Filed 3-15-96; 8:45 am]
BILLING CODE 4910-13-M