Philadelphia International Airport operates as an enterprise fund of the City. Enterprise funds are established by governmental units to account for services that are provided to the general public on a user charge basis and are operated in a manner similar to business-type activities. The City’s enterprise fund for the Airport, the Aviation Fund, was created and authorized as part of the Fiscal 1974 Operating Budget Ordinance approved by City Council on June 7, 1973 and made effective July 1, 1973.
The Aviation Fund is self-supporting, using aircraft landing fees, terminal building rentals, concession revenue and other facility charges to fund annual expenses. The Airport’s capital program is funded by airport revenue bonds issued by the City, federal and state grants, Passenger Facility Charges (PFCs) and operating revenues.
The basic financial statements of the Aviation Fund are designed to provide readers with a broad overview of Airport finances, in a manner similar to the private sector. The financial statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP) promulgated by the Government Accounting Standards Board (GASB). The Notes to the financial statements provide additional information that is essential to a full understanding of the data provided in the Aviation Fund financial statements. In addition to the basic financial statements and accompanying notes, government accounting standards require presentation of required supplementary information (RSI). Please see the Comprehensive Annual Financial Report (CAFR) of the City of Philadelphia for complete financial information for the City and its component units.
Financial Trends and Revenue Capacity
These schedules show changes in Aviation’s financial performance, major revenue sources and rates and charges over the past ten years.
These schedules show current levels of outstanding debt and how Aviation has fulfilled debt obligations over the past ten years.
Demographic and Economic Information
These schedules show the airport service area environment over the past ten years.
These schedules show airport performance over the past ten years.
Monthly Activity Reports
Tracy S. Borda, CPA
Chief Financial Officer
Finance & Administration
Philadelphia International Airport
Executive Offices – Terminal D
Philadelphia, PA 19153