WILLIAMSTOWN - An independent audit of the Mid-Ohio Valley Regional Airport Authority showed no accounting problems, a CPA told the Wood County Airport Authority Tuesday morning during its regular meeting.
"As far as the numbers go, those are OK," said Stephen Glaser with the Glaser-Group.
Glaser has done an independent audit of the airport's books for the past two year.
Photo by Jolene Craig
Stephen P. Glaser, CPA with Glaser-Group independent auditor, speaks to the Wood County Airport Authority on Tuesday about the audit he performed on the Mid-Ohio Valley Regional Airport’s books for the fiscal year 2011-2012.
In West Virginia, organizations or businesses receiving federal funds must have an independent audit. Because the regional airport authority, the marketing arm of the airport authority, which operates the facility, receives federal dollars, its books are looked at annually.
Glaser said small issues include moving numbers from the smaller individual books to the general ledger.
"I know you, officials, are aware of these issues," Glaser said. "The airport is like any other small operation. You're running on the money coming in and you have a pretty good handle on the funds."
He added that the airport's checkbook was found to be accurate and clear without any major issues.
"When you're doing a lot of transactions, there is a lot of work in it," Glaser added. "I'm not saying someone isn't doing their job - it's complex and there is a lot of effort going into it."
Airport manager Terry Moore said the enplanements of 656 for August were slightly down from July's 699.
"We are still holding steady," Moore said.
Fuel sales for August rose to 39,000 gallons of combined jet and no lead through the month.
Moore said the airport has seen a large plane come three times in the past month and purchase 300 gallons each time. He said he believes the plane, which sports a Texas flag, is in the area because of the oil and natural gas industry boom in West Virginia and Ohio.
Fuel sales are one of the main sources of income for the local airport.
In other business, Moore said the airport had to replace electrical equipment that failed.
He showed the board connectors that had burnt out after breaking down and warned members this will likely continue to happen as the facility's electric work is old.
"Our electric has been buried for 20 years and we are expecting more of this to occur," Moore said. "The equipment is old and brittle with a repair cost of $1,000 for this particular problem.
"It has happened three times in the last two months and these expenses will increase as time wears on," he said.