Another strong budget surplus is expected for the Martha’s Vineyard Airport this year, airport officials said this week.
The airport commmission passed an the $11 million budget Thursday. The commission is projecting $13.5 million in revenue, leaving the airport with a $2.5 million surplus, according to budget and finance committee chair Richard Knabel.
“I think the budget represents a fair amount of work,” said Mr. Knabel. The budget surplus is up from $1.8 million projection in 2022, which Mr. Knabel attributed to drastically lower fuel prices for the airport and lower capital projects spending.
In other business, the commission approved a plan for Miller Professionals to construct a 2,500 square foot building to store landscaping materials on one of their leased lots in the airport business park. The company was awarded leases on a 140,000 and 9,300 square foot lot there for a combined $178,000 in annual rent last year.
