By Belle Hatfield
The Yarmouth International Airport Corporation needs an infusion of $150,000 before January in order to meet its immediate obligations.
Describing the situation as a problem with “cash flow,” the town of Yarmouth’s CAO Jeff Gushue told a special meeting of council, convened Friday, Dec. 20, that the funding request can’t wait until council’s regular January meeting.
Council unanimously approved $41,700, its share of the $150,000 demand, but councillors were not happy about the lack of financial statements available to shed light on why the money is needed. They were told that updated financial statements were not yet available but received assurances from the CAO that the $150,000 was a fair representation of what was required.
Council was also reminded that the town is a part owner of the corporation and was liable for its debts.
The airport corporation’s board was set to review the audited financial statements for 2012-13 on Thursday, Dec. 5, but there wasn’t a quorum. A date hasn’t yet been set for another corporation meeting. Gushue said the interim manager (see related story) was working with administrative staff to pull together an updated financial statement and it would be available to council as soon as it was available. He said the last update was done in August.
The CAO was unable to answer a question about how much of a deficit had been incurred from the Yarmouth airshow, which was hosted by the corporation in September.
The corporation has been managed on a day-to-day basis by board member Mitch Bonnar for the last couple of months. The former manager is not on the job, but no one will explain to the public under what circumstances David Hill left his duties.
The airport corporation is jointly owned by the town and municipality of Yarmouth and the Municipality of Argyle.
The municipalities of Yarmouth and Argyle have not yet met to consider the funding request.