Notes to SEFA
Accounting Policies: This schedule was prepared on the same basis of accounting as the financial statements (see Note 1).
For this schedule, Airport Improvement Program (AIP) funds are considered expended when eligible for reimbursement
by the Federal Aviation Administration. Eligibility includes having an AIP grant agreement in place specific to the costs
incurred, reaching certain project milestones, and other criteria.
Federal expenditures reported above that were incurred in fiscal year 2023 totaled $24,562,533.
The schedule of expenditures of federal awards for the year ended June 30, 2023 has been subjected to the applicable
compliance testing requirements prescribed by the Uniform Guidance.
The Authority has not elected to use the 10‐percent de minimis cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The expenditures charged against each ALN represent direct construction costs associated with each program.