Accession Number:

ADA383281

Title:

Airport Financing: Use of Funds for Capital Improvements at Chicago O'Hare International Airport

Descriptive Note:

Corporate Author:

GENERAL ACCOUNTING OFFICE WASHINGTON DC RESOURCES COMMUNITY AND ECONOMIC DEVELOPMENT DIV

Personal Author(s):

Report Date:

2000-09-29

Pagination or Media Count:

21.0

Abstract:

This report responds to the funds provided and spent at Chicago OHare International Airport for capital improvements in light of the questions about the capacity of the airport system in the Chicago area. Specifically, we determined funding sources for capital improvements at Chicagos OHare International Airport from 1990 through 1999 and the type of projects this funding was spent on. In summary, we found that from 1990 through 1999, these four funding sources provided the city of Chicago with 2. A portion of the remainder was spent on capitalized interest during the construction period of the capital improvement projects, certain debt service payments, and related financing costs. As of December 31, 1999, approximately 205 million was available for capital improvement projects and earmarked for future projects, according to city officials. Figure 1 shows the amounts provided and spent for capital improvement projects from each of the four funding sources. These amounts represent the nominal sums of the dollars spent each year and have not been adjusted for inflation. In enclosure V, we show figure 1 with amounts provided and spent in constant inflation-adjusted 1999 dollars.

Subject Categories:

  • Terminal Flight Facilities
  • Economics and Cost Analysis

Distribution Statement:

APPROVED FOR PUBLIC RELEASE