Comox Valley Airport’s assets grew in 2010

This past year was a strong one for the Comox Valley Airport Commission when it comes to finances, as the commission saw its total assets increase almost $1 million.

This past year was a strong one for the Comox Valley Airport Commission when it comes to finances, as the commission saw its total assets increase almost $1 million.Ben Vanderhorst from Meyers Norris Penney, which has provided audit services for the Comox Valley Airport Commission (CVAC) for a number of years, provided financial statements for the financial year ending March 31 during CVAC’s annual public meeting last week.CVAC’s total assets, as of March 31, are $2,238,894, an increase of about $1 million from 2010.”That’s certainly a strengthening of the cash position of the commission,” said Vanderhorst.On the liabilities side, total current liabilities are $829,480, up from $595,739 in 2010.”What that means is current assets are more than two times the current liabilities, and that is generally seen as a very strong financial position,” said Vanderhorst. “The commission continues to carry a strong balance sheet.”For 2011, CVAC’s total revenue was $3,733,786, up from $3,502,347 in 2011.The biggest increase was in fuel commissions, which rose from $33,942 in 2010 to $223,888 in 2011.”Now that the commission has had a full year of operating its fuel facility, we’re seeing that start to contribute revenues of a significant amount,” said Vanderhorst.On the expense side, there was an increase from $3,366,913 in 2010 to $3,439,887 in 2011.This includes a roughly $180,000 increase in the marketing budget, which includes public consultation and development of CVAC’s new brand, billboards on the Inland Island Highway, posters onboard BC Ferries, a new print advertising campaign, a new public relations program, and communications support for business development activities.”Overall, the revenue over expenses increased from $135,434 in 2010 to $293,899 in 2011, again more than double,” said Vanderhorst. “There’s continuing strong financial position in operations as well.”

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Comox Valley RCMP had access to 20 Street blocked off between Cousins and Choquette avenues as they conducted a raid of a house on the block. Photo by Terry Farrell
Comox Valley RCMP raid Courtenay problem house, several arrests made

Neighbours have reached out to media on several occasions with complaints about the property

A vial of Oxford-AstraZeneca COVID-19 vaccine is pictured at a family doctor office, Thursday, Feb. 25, 2021 in Paris. THE CANADIAN PRESS/AP -Christophe Ena
Tentative COVID-19 vaccine site chosen in the Comox Valley

B.C. is moving into Phase 2 of its COVID-19 mass immunization plan

Cumberland is considering downtown densification proposals, and with that comes questions around parking, among other things. Photo by Mike Chouinard
Water bottling ban, parking key changes for Cumberland zoning

Bylaw on amendments still need adoption following March 2 hearing

Arzeena Hamir, working her booth at the Comox Valley Farmers Market. LUSH Valley was recognized last month as a partner of the year by the BC Association of Farmers’ Markets. Photo by Bill Jorgensen
LUSH Valley recognized for collaboration with Comox Valley Farmers’ Market

They won Partner of the Year award by the BC Association of Farmers’ Markets

Chelsea Harry was last seen Feb. 21. Photo via Comox Valley RCMP
Comox Valley RCMP seeking help locating a missing woman

Missing person last seen in Courtenay on Feb. 21

B.C. Health Minister Adrian Dix and provincial health officer Dr. Bonnie Henry head for the B.C. legislature press theatre to give a daily update on the COVID-19 pandemic, April 6, 2020. (B.C. government)
B.C. nears 300,000 COVID-19 vaccinations, essential workers next

564 new cases, four deaths, no new outbreaks Thursday

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Municipal Affairs Minister Josie Osborne speaks in the B.C. legislature, March 4, 2021. (Hansard TV)
B.C. Liberals, NDP sing in harmony on local election reforms

Bill regulates paid canvassers, allows people in condo buildings

The intersection of Melrose Street and Third Avenue. (ELENA RARDON / ALBERNI VALLEY NEWS)
Suspect in custody after two pedestrians struck in Port Alberni hit and run

RCMP asking for video footage, credit witnesses for quick arrest

The Courtenay Fire Department hopes to start a new recruit training program in mid-2021, pending Provincial Health Orders. Scott Stanfield photo
Courtenay Fire Department gets creative

Due to public health orders resulting from COVID, the Courtenay Fire Department… Continue reading

(National Emergency Management Agency)
No tsunami risk to B.C. from powerful New Zealand earthquake: officials

An 8.1 magnitude earthquake shook the north of New Zealand Thursday morning

(AP Photo/Richard Vogel, File)
Pandemic stress, isolation key factors as to why Canadians turned to cannabis, alcohol

Study found that isolation played key role in Canadians’ substance use

Grand Forks’ Gary Smith stands in front of his Church of the Flying Spaghetti Monster float. Photo: Submitted
Grand Forks’ Flying Spaghetti Monster leader still boiling over driver’s licence photo

Gary Smith, head of the Church of the Flying Spaghetti Monster of B.C., said he has since spoken to lawyers

Most Read