Finance Committee

NASHUA AIRPORT AUTHORITY
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
For the Year Ended June 30, 2021

June 30,
2021 $ 4
2022 8
2023 10
2024 6

Actuarial Assumptions

The total OPEB liability was determined by a roll forward of the actuarial valuation as of June 30, 2019,
using the following actuarial assumptions, applied to all periods included in the measurement, unless
otherwise specified:

Inflation 2.00%

Wage inflation 2.75% (2.25% for Teachers)

Salary increases §.60%, average, including inflation

NASHUA AIRPORT AUTHORITY
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
For the Year Ended June 30, 2021

Funding Policy

NASHUA AIRPORT AUTHORITY
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
For the Year Ended June 30, 202]

Other capital assets:

NASHUA AIRPORT AUTHORITY
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
For the Year Ended June 30, 2021

the services that are the primary activities of the Authority. All revenues and expenses not meeting this
definition are reported as non-operating revenues and expenses.

Capital Contributions - Funds received from other governments for the purpose of constructing assets are
recorded as capital contributions.

NOTE 2—DEPOSITS AND INVESTMENTS

NASHUA AIRPORT AUTHORITY
NOTES TO FINANCIAL STATEMENTS (CONTINUED)

For the Year Ended June 30, 2021

Estimated useful lives are as follows:

Years
Land improvements 5-25
Buildings and improvements 10-39
Equipment 3-30

NASHUA AIRPORT AUTHORITY
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021

NOTE 1—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accounting policies of the Nashua Airport Authority ("the Authority") conform to accounting principles
generally accepted in the United States of America for local governmental units, except as indicated
hereinafter. The following is a summary of significant accounting policies.

Financial Reporting Entity

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Nashua Airport Authority
Notes to Financial Statements

140

18.

Subsequent Events

The Company has evaluated the events and transactions that have occurred through

March 23, 2021, the date that these consolidated financial statements were available for
issuance.

139

17.

e inclusion of actual NHBET cash payments in its revenue requirement calculation; and

e the establishment of a revenue requirement structure, and the mechanics and
methedology for its appreval, resetting and funding, inclusive of the RSFs and allowed
revenue “buckets” shown above, which is the same as approved for Pennichuck Water
by NHPUC Order Nos. 26,070, and 26,383

Qualified Capital Project Adjustment Charge