Springfield Airport Authority Reports Strong Financial Year

SPRINGFIELD, ILL---The Springfield Airport Authority has received an unmodified, or "clean" audit opinion for the fiscal year ending June 30,2025, and has again been recognized nationally for excellence in financial reporting. The independent audit conducted by Eck, Schafer & Punke confirmed the Authority's financial statements are presented fairly and in accordance with applicable accounting standards. "Once again, the Airport Authority's staff did a fantastic job preparing for the audit, and the process went very smoothly," said Jason Jones of Eck, Schafer & Punke.

The audit shows the Authority's net position increased by $92.5 million, reflecting a net gain of $3.35 million for the fiscal year. Growth was driven primarily by continued investment in capital assets. Excluding depreciation and grant revenue-- items that do nor reflect day-to-day operations-- the Authority reported an operating surplus of $2.83 million, one of its strongest results in the past decade.

"The Airport Authority continues to demonstrate disciplined financial management through diversified revenue sources, controlled operating expenses, responsible debt management, and strong reserve levels," said Elizabeth Delheimer, Chair of the Airport Authority's Budget and Finance Committee.

Frank J. Vala, Chair of the Board of Commissioners added, "Our staff has successfully navigated industry challenges and external factors while maintaining a modern facility with fiscal stability, This report reflects our long-standing commitment to accountability, transparency, and sound financial stewardship."

National Recognition for Financial Reporting

In addition to the clean audit, the Springfield Airport Authority received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA) for its 2024 Annual Comprehensive Financial Report (ACFR).

This Award represents the highest level of recognition in governmental financial reporting and signifies that the Authority's ACFR meets rigorous standards for clarity, accuracy, and full disclosure. "One of our core principles is to be enterprising" said Vala. "Our ACFR reflects an entrepreneurial mindset that emphasizes innovation, transparency, and financial efficiency."

The Springfield Airport Authority has earned this distinction for 22 consecutive years, underscoring its consistent commitment to best practices in public finance. Reports are evaluated by an independent panel and must comply with Generally Accepted Accounting Principles (GAAP) and all applicable legal requirements.

About Abraham Lincoln Capital Airport

Abraham Lincoln Capital Airport serves as a critical transportation and economic engine for central Illinois. Named Illinois Primary Airport of the Year by the Illinois Department of Transportation in 2020, the airport generates $370.8 million in annual economic output and supports 2,630 jobs, according to a 2021 IDOT economic impact study,

Major airport tenants include the Illinois Air National Guard's 183rd Wing, StandardAero, IDOT Division of Aeronautics, Lincoln Land Community College's LRS Aviation Maintenance Training Center, Illinois Army National Guard, and Stellar Aviation. Commercial air service includes daily flights to Chicago,IL on American Airlines, Orlando,FL on Breeze Airways, and to Punta Gorda, FL on Allegiant. More information is available at www.FLYSPI.com or by calling the Passenger Service Center at 217-788-9200.