The Nashua Airport Authority (the Authority) was established on August 27, 1961 by
legislative act as a separate legal entity. The Authority is located at Boire Field in Nashua,
New Hampshire and provides general airport operations as well as airplane tie-down
rentals. The Authority is governed by a five-member board, to be appointed by the Mayor
and confirmed by the Board of Aldermen. The Authority meets the criteria as a discretely
presented component unit as the City can appoint a voting majority of the Authority’s
governing board and can impose a financial burden as the City can guarantee the principal
and interest of any bonds issued by the Authority. Complete financial statements of Nashua
Airport Authority may be obtained from its Airport Manager at 93 Perimeter Road, Nashua,
New Hampshire 03063.
Government-Wide and Fund Financial Statements
Government-Wide Financial Statements
The government-wide financial statements (i.e., the Statement of Net Position and the
Statement of Activities) report information on all of the nonfiduciary activities of the
primary government. For the most part, the effect of interfund activity has been removed
from these statements. Governmental activities, which normally are supported by taxes and
intergovernmental revenues, are reported separately from business-type activities, which
rely to a significant extent on fees and charges for support. Likewise, the primary government
is reported separately from certain legally separate component units for which the primary
government is financially accountable.
The Statement of Activities demonstrates the degree to which the direct expenses of a given
function or segment is offset by program revenues. Direct expenses are those that are
clearly identifiable with a specific function or segment. Program revenues include
(1) charges to customers or applicants who purchase, use, or directly benefit from goods,
services, or privileges provided by a given function or segment and (2) grants
and contributions that are restricted to meeting the operational or capital requirements of a
particular function or segment. Taxes and other items not properly included among program
revenues are reported instead as general revenues.
Fund Financial Statements
Separate financial statements are provided for governmental funds, proprietary funds and
fiduciary funds, even though the latter are excluded from the government-wide financial
statements. Major individual governmental funds and major individual enterprise funds are
reported as separate columns in the fund financial statements.
Measurement Focus, Basis of Accounting, and Financial Statement Presentation
Government-Wide Financial Statements
The government-wide financial statements are reported using the economic resources
measurement focus and the accrual basis of accounting, as are the proprietary funds and
fiduciary funds (other than Custodial funds which have no measurement focus) financial
statements. Revenues are recorded when earned and expenses are recorded when a liability is
incurred, regardless of the timing of related cash flows. Property taxes are recognized as
revenues in the year for which they are levied. Grants and similar items are recognized as
revenue as soon as all eligibility requirements imposed by the provider have been met. As a
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