The Metropolitan Airports Commission (MAC) welcomes Tim Simon as its new Vice President, Finance and Revenue Development.
“Tim Simon brings a wealth of government finance and strategic thinking to the Metropolitan Airports Commission,” said MAC CFO Atif Saeed. “His background and expertise will be crucial as the MAC navigates revenue impacts of the COVID-19 pandemic, develops strategies for re-energizing revenue streams as the aviation industry recovers and works to retain one of the best financial ratings in the airport industry.”
The MAC owns and operates Minneapolis-St. Paul International (MSP) and six general aviation airports in the Twin Cities metropolitan area. The organization began 2020 with a $408 million annual operating budget but has been working to reduce expenses in light of major reductions in key revenue streams, particularly airport parking, ground transportation, auto rental and food and retail concessions. The MAC maintains a AA- rating on senior revenue bonds and an A+ on subordinate lien revenue bonds.
Simon has 20 years of experience in finance and auditing roles for governmental organizations. He joins the MAC after serving as the chief financial officer at the city of St. Louis Park. Prior to that, Simon was the finance director at the city of Elk River. He also spent five years at the Minnesota State Auditor’s Office. In those positions he gained supervisory experience in annual audits, financial statement preparation, cash management and investments, capital improvement plans, risk management, financial policies and procedures, budgeting, long-range financial management plans, debt management, fiscal transparency tools and rate analysis.
At the MAC, Simon will oversee the departments of Finance, Commercial Management and Airline Affairs, and Risk Management/Insurance.
“I’m thrilled to join the MAC and to work with the highly respected team overseeing one of the nation’s largest airport systems,” said Simon. “I also look forward to engaging with customers, partners and stakeholders to create a framework for continued financial success in a rapidly changing industry.”
Simon is a member of the Government Finance Officers Association (GFOA) and the Minnesota Government Finance Officers Association (MNGFOA). He holds a B.A in accounting from the College of St. Scholastica and M.B.A. in finance from the University of St. Thomas. Simon has also completed the Advanced Government Finance Institute Program.