Board of Airport Commissioners

RESOLUTION NO.      - Fiscal Year 2023-2024 Annual Budget for Los Angeles World Airports:  And appropriation of funding, use of Passenger Facility Charge, transmittal of debt and capital reports to the City, and expense reimbursements \nPURPOSE: The purpose of this request is to adopt a budget for Los Angeles World Airports and its airports for Fiscal Year 2023-2024 and appropriate funding required for operations and maintenance expenses, reserves, special funds and other initiatives covering current facilities at the airports, as outlined in the staff report. \nRECOMMENDATIONS: Adoption of the Report requesting that the Board of Airport Commissioners determine that this action is exempt from the California Environmental Quality Act (CEQA) pursuant to Article II, Section 2.f of the Los Angeles City CEQA Guidelines; approve appropriation of funding for the Fiscal Year 2023-2024 projected operating expenses for Los Angeles World Airports (LAWA) and its airports and special funds; authorize reallocation of budgeted operating expenses for LAWA and its airports and special funds, for unanticipated expenditures; further authorize reallocation of budgeted salaries to capital projects when staff are utilized to support the capital projects; further approve appropriation of funds for Program Services for Fiscal Year 2023-2024; further authorize reallocation of those funds to specific capital projects and their Work Breakdown Structure accounts; further authorize the Chief Financial Officer to carry over previously appropriated funds for pre-construction, planning and design to support proposed capital projects; further authorize the Chief Financial Officer, or designee, to manage and allocate the funds, as needed; further approve reimbursement of expenses incurred by various departments of the City of Los Angeles for services that provide direct benefit to LAWA; further approve transfer of funds based on certain budgeted salaries to the City of Los Angeles Hiring Hall Fund to cover the salaries of Hiring Hall staff that provide direct services to LAWA; further authorize the Chief Executive Officer, or designee, to reallocate funds for capital outlays, equipment and vehicles acquisition to address more urgent needs during the fiscal year; further approve appropriation of funding for principal and interest payments and costs of issuance on LAWA debt issued or payable during Fiscal Year 2023-2024; further authorize use of Passenger Facility Charge collections for reimbursement or payment of eligible debt service in Fiscal Year 2023-2024; further authorize staff to transmit the debt accountability report and forecast of capital project funding to the Mayor's Office, the Trade, Travel and Tourism Committee, and the Controller for informational purposes only as required pursuant to Section 11.28.3 of the City of Los Angeles Administrative Code; and further authorize the Chief Executive Officer, or designee, to make minor changes in the Annual Budget as required to correct clerical or arithmetic errors. (Tatiana Starostina)\n09 report