Lopano’s first budget as TPA’s CEO
TAMPA – Today, the Airport’s five-member board of directors approved CEO Joe Lopano’s Fiscal Year 2012 budget. Compared to the FY 2011 budget, the FY 2012 Tampa Turnaround budget reflects both an increase in revenue, a decrease in Airport operating expenses; and reduces the operating cost to the airlines that operate out of Tampa International Airport.
Additionally, the dedicated board of director’s provided leadership in recognizing the importance of leveraging the Airport system to its full extent to achieve the goals under the new Mission and Vision statements. Lopano also blended a team of talented employees to ensure the successful accomplishment of the objectives established under the new statements.
“Achieving a well-balanced budget confirms that the Aviation Authority will consistently provide the highest quality and reliability to the Tampa Bay area,” stated Steven G. Burton, Chairman, Tampa International Airport. “This achievement was only possible because of the diligent efforts of Mr. Lopano and his staff and their professional dedication to process improvements.”
In summary, the FY2012 Budget will:
- Increase total revenue by approximately $5.5 million versus the FY2011 budget to $178.0 million, nearly a 3.2 percent increase compared to 2011
- Decrease annual budgeted operating expenses by $151,600
- Reduce cost per enplanement by 5.6 percent from $5.35 to $5.05 per passenger compared to the FY 2011 budget
- Implement a 3 percent Cost of Living Adjustment for TPA’s employees
- Provide $19.1 million of Authority Funds for capital improvement projects
“We have raised revenues, held costs and improved our bottom line, all while funding our future through new marketing efforts,” stated Joe Lopano, CEO, Tampa International Airport.
“By seizing non-airline revenue opportunities and responsibly managing costs, Joe Lopano and the Tampa International Airport team produced a budget that reflects well their mission to drive economic growth in the Tampa Bay region,” expressed Brian Mattingly, Regional Director, Properties and Corporate Real Estate, Delta Air Lines.
The Aviation Authority began in 1945 as an independent special district governed by the Hillsborough County Aviation Authority Act. The act provides the Authority with exclusive jurisdiction, control, supervision, and management over all public airports in Hillsborough County. Although empowered to levy ad valorem property taxes, the Authority has not collected any tax funds since 1973. The Authority owns and operates Tampa International Airport and three general aviation airports – Peter O. Knight, Tampa Executive and Plant City.