Revenue at Hollywood Burbank Airport exceeds projection

The Burbank-Glendale-Pasadena Airport Authority may be in the process of completing its budget for the upcoming fiscal year, which begins July 1, but officials on Monday looked at the airfield’s 2015-16 fiscal-year budget to take a look at the airport’s recent financial picture.

Kathy David, the authority’s deputy executive director of finance and administration, said Hollywood Burbank Airport was able to generate more revenue and spend less during that fiscal year, which ended on June 30, 2016.

Officials had projected the airport’s revenue to be roughly $46.6 million for that fiscal year. However, increases in rentals, parking revenue, concession sales, landing fees, investment income and other revenue streams attributed to actual revenue being about $49.6 million that year, which is about 6.4% more than projected, David said.

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What helped the authority’s revenue increase were the sale of an area at the airport called the B-6 site and a hike in film-permit fees, David said.

“We typically budget a very modest amount due to the unpredictability of this revenue source,” she said, referring to the revenue generated by film-permit fees. “We were able to do well last year, and that contributes to the positive results.”

The authority’s operations and maintenance expenditures were also better than what officials had anticipated. David said they were expecting to have expenses at around $39.9 million for the fiscal year.

However, more fuel-efficient shuttles, training in-house and updating the airfield’s shuttle operator were some of the line items that helped shave off roughly $2.6 million from the airport’s expenses, David said.

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Anthony Clark Carpio, anthonyclark.carpio@latimes.com

Twitter: @acocarpio