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OCR for page 42
42 Collaborative Airport Capital Planning Handbook Spreadsheets that show the various funding scenarios from the financial modeling. Compelling Practice #8 A memo describing the trade-offs made as part of the Project Execution Flexibility programming that describes what decisions were made, Massport includes an "unfunded" list of projects in how they were made, and which projects were not funded the ACP that is needed but did not have the finan- and why. cial resources to fund. This "unfunded" list is voted The draft multi-year ACP that includes all projects pro- and authorized by the Board of Directors every posed to be funded with funding sources by fiscal year and year. During the fiscal year, a project from the its impact to the Operating Budget. "unfunded" list can be added to the "funded" list Result: The following is the result an agency can expect in by the Director of Capital Programs and the Direc- terms of targets achieved, benefits realized and value added tor of Finance if another project is delayed or when an agency follows the recommended step outlined above: canceled, as long as the funding source is the same and adequate funds are available. This practice 1. All parties involved in the ACP process agree on the draft enables Massport to be nimble and flexible with ACP to be vetted and approved in the next step. executing projects when unforeseen situations delay or defer projects. Step 5: Airport Capital Plan Goal: The goal of Step 5 is to obtain buy-in from all stake- holders and obtain approval or authorization from Approv- ing Authorities. Actions: The following is a list of actions, activities or tasks that should be completed during this step: ACP Meets Goals and Objectives: Document how the proposed draft ACP advances the agency's goals and objectives, accommodates the priorities and initiatives set by the ACP Policy in Step 1, is affordable and meets the financial goals or metrics defined in the agency's strategic financial plan developed in Step 2. Trade-Off Documentation: Document the ACP process that was followed and major decisions (trade-offs) made during the ACP process. Unfunded Projects: Document those projects that were not funded in the current draft ACP and why. ACP Funding and Financial Plan: Document how the draft ACP will be funded and describe how the agency arrived at that financial plan, including funding sources (bonds, cash, PFCs) and what impact the proposed ACP will have on the airport's financial metrics [e.g., cost per enplaned passenger, debt coverage, days operating cash and operating ratio (operating expenses/ operating revenues)]. Operating Budget Impact: Document how the draft ACP will impact the operating budget and rates and charges. Stakeholder Input: Vet the draft ACP with Internal Stake- Compelling Practice #9 Stakeholder Participation holders such as the leadership of the operating depart- ments (e.g., Aviation), as necessary, External Stakeholders The Metropolitan Washington Airport Authority such as the tenants, governmental agencies, as necessary, (MWAA) has an on-site airline coordinator that is and Approving Authorities prior to seeking final approval. funded by the carriers. This individual is co-located ACP Approval: Seek approval of the ACP from Approv- with the Planning and Engineering departments so ing Authorities. that when MWAA has an issue that needs input When: Approval of the ACP should be sought when the from the carriers, the coordinator can obtain the ACP is balanced, and prior to beginning implementation. input and give the feedback to MWAA very quickly. This practice expedites MWAA's ability to Leader: Executive Leader (See Agency Policy in Chapter 4 get feedback from the carriers when they need it. for a description of Executive Leader.) Partner: Leadership Team and CMT