City of Philadelphia Division of Aviation Chief Financial Officer (CFO) Tracy Borda has been recognized by Airports Council International- North America (ACI-NA) and the Philadelphia Business Journal for her accomplishments leading the finance team for Philadelphia International Airport (PHL) and Northeast Philadelphia Airport (PNE), especially during a global pandemic that devastated the aviation industry. Borda was presented with the ACI-NA’s Large Airport Finance Professional of the Year Award at the organization’s recent Business of Airports Conference in Phoenix. She will be one of 24 CFOs honored by the Business Journal at a ceremony in July.
Borda, who joined the Division of Aviation as internal audit manager in 1995, has served as the airport’s CFO since 2016. She is responsible for the airport's financial strategy and oversees all financial functions including financial reporting and forecasting, treasury and investor relations, budget development and management, audit, procurement, and materials management. She currently serves as Second Vice Chair of ACI-NA's Finance Committee.
“The COVID pandemic has placed incredible strains on our airports — only adding to the funding challenges so many already faced — but finance professionals like Tracy stepped up to address them head on,” said ACI-NA President and CEO Kevin M. Burke in a release. “Financial stability and innovation have been imperative to our industry’s ability to tackle the challenges we’ve faced, and this year’s winners developed and delivered the kinds of financial solutions their airports and employees needed during a very difficult time.”
Among Borda’s accomplishments during the pandemic were leading the airport-wide strategy to reduce costs through evaluating spending needs and decreasing infrastructure financing for long-term bonds and commercial paper program, which resulted in over $180 million in reduced expenditures since 2019. Over the past two years, she also managed the issuance of two airport bond deals which brought in $200 million in new financing for capital projects and refinanced existing debt which was structured to produce approximately $100 million in upfront savings during the hardest hit years of the pandemic and almost $140 million in gross debt savings over the life of the bonds.
“In addition to being an incredible member of the executive team, Tracy brings her dynamic personality and passion for her work into everything she does,” said Division of Aviation CEO Chellie Cameron. “She makes positive impacts not only on the bottom-line but also to all of the various airport teams with her skills, knowledge, willingness to help others and dedication to the airport and city. She is completely deserving of these honors.”
