Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the accompanying schedule of expenditures of federal awards (the Schedule) are reported on the modified accrual basis of accounting. When applicable, such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Schedule includes the federal award activity of Dickinson Theodore Roosevelt RegionalAirport under programs of the federal government for the year ended December 31, 2022. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the Dickinson Theodore Roosevelt Regional Airport, it is not intended to and does not present the financial position or changes in net position or fund balance of Dickinson Theodore Roosevelt Regional Airport.
Title: Rec. to the Stmt of Revenues, Expenditures, and changes in Fund Balances
Accounting Policies: Expenditures reported in the accompanying schedule of expenditures of federal awards (the Schedule) are reported on the modified accrual basis of accounting. When applicable, such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Total expenditures of federal awards $9,100,571 State and local reimbursements 9,490,890 Less: revenues recognized on government-wide financial statements only (388,888) Intergovernmental revenues per statement of revenues, expenditures, and changes in fund balance $18,202,573.