Hillsborough County's Valued Fiscal Asset for 20+ Years
Work Includes Budgets, Rates, Charges, and GARBs
Since 1997, Ricondo has been viewed as an important financial asset to the Hillsborough County Aviation Authority, the owner and operator of Tampa International Airport. Through the years, Ricondo consultants have held various essential fiscal responsibilities, which include reviewing annual operating and capital budgets, calculating airline rates and charges, preparing feasibility studies, and supporting the issue of nine different General Airport Revenue Bonds (GARBs).
The authority is a self-supporting organization and generates revenues from airport users to fund operating expenses and debt service requirements. Capital projects are funded through the use of bonds, short-term financing, passenger facility charges, rental car facility fees, federal and state grants and internally generated funds. Thus, a shrewd financial consulting team is essential to ensuring long-term success.
In 1997, Hillsborough County Aviation Authority asked Ricondo to review the authority’s 1968 Trust Agreement and to report on the authority’s compliance. Ricondo then assisted the authority with developing and negotiating a new agreement—including a cost center accounting structure and airlines rates and charges—and has been involved in agreement negotiations four more times throughout the years.
In addition to fiscal support, Ricondo has assisted the authority in developing an implementable strategic plan, with a focus on capital development from a business point of view. Other work includes parking and ground transportation analyses, competition plans, funding plans for capital projects, and plans surrounding the development of a consolidated rental car facility.