COUNCIL BLUFFS, Iowa (AP) — An audit shows the Council Bluffs Airport Authority revenues increasing 50 percent the last fiscal year and expenditures decreasing 12 percent. Total revenues were just over $2.9 million for the fiscal year ending June 30. Property taxes accounted for more than $575,000, rental income $145,000 and federal grants more than $2 million. There was an increase in federal grants for airport improvement projects. Expenses were almost $1.4 million. Those expenses included $189,000 for employee salaries, $738,000 for depreciation and $142,000 for interest expense. Certified public accountant Mike Massman said the airport is run “efficiently” and that it is a “real asset to the community.”