b'Capital Region Airport Commission Managements Discussion and Analysis (Continued) June 30, 2025 and 2024 EXPENSES The following graphs illustrate operating expenses for the three fiscal years ended June 30, 2025, 2024, and 2023 and main sources of expenses for the Airport and each sources percentage of total operating expense for the fiscal year ended June 30, 2025. Operating Expense History (in thousands) $42,000 $41,091$40,000 $38,000 $36,000 $35,590$34,000 $32,000 $31,197$30,000 $28,000Amount $26,000 $24,000 $22,000 $20,000 $18,000 $16,000 $14,000 $12,000 $10,0002025 2024 2023Fiscal Year12'