Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are presented using the accrual basis of accounting. 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: There are no indirect costs included in grant expenditures on the Schedule for the year ended June 30, 2023.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of federal financial assistance programs of the Burbank-Glendale-Pasadena Airport Authority (Authority), which owns and operates the Bob Hope Airport, commonly known as Hollywood Burbank Airport (Airport), for the year ended June 30, 2023. The Schedule includes federal awards received directly from federal agencies. There were no federal awards passed through other agencies for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation 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 Authority, it is not intended to, and does not present the financial position, changes in financial position or cash flows of the Authority. The Authority’s reporting entity is defined in note 1 to the Authority’s basic financial statements.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are presented using the accrual basis of accounting. 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: There are no indirect costs included in grant expenditures on the Schedule for the year ended June 30, 2023.
Expenditures reported on the Schedule are presented using the accrual basis of accounting. 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.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are presented using the accrual basis of accounting. 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: There are no indirect costs included in grant expenditures on the Schedule for the year ended June 30, 2023.
The Authority has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. There are no indirect costs included in grant expenditures on the accompanying Schedule for the year ended June 30, 2023.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are presented using the accrual basis of accounting. 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: There are no indirect costs included in grant expenditures on the Schedule for the year ended June 30, 2023.
Of the federal expenditures presented in the Schedule, the Authority did not provide any federalawards to subrecipients for the year ended June 30, 2023.
Title: U.S. Department of Justice- Federal Equitable Sharing Program
Accounting Policies: Expenditures reported on the Schedule are presented using the accrual basis of accounting. 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: There are no indirect costs included in grant expenditures on the Schedule for the year ended June 30, 2023.
During fiscal year 2023, the Authority continued to participate in the Federal Equitable Sharing Program. There were no expenditures reported for the year ended June 30, 2023, and there are unspent funds totaling $10,484 at June 30, 2023.
Title: U.S. Department of Transportation – Federal Aviation Administration – Airport Improvement Program Grants
Accounting Policies: Expenditures reported on the Schedule are presented using the accrual basis of accounting. 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: There are no indirect costs included in grant expenditures on the Schedule for the year ended June 30, 2023.
The Authority has entered into agreements with the Federal Aviation Administration (FAA) to provide funding assistance for the following open projects as of June 30, 2023: Rehabilitation of Taxiway C and Shoulder (Project No. 3-06-0031-76) in the total amount of
$2,902,762; COVID-19 Airports Programs: The Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA)The Authority was awarded $640,106 in CRRSAA concessions relief addendum grant funds to provide rent relief to eligible airport concessions. The full award amount was expended during FY 2023. The CRRSAA concessions relief addendum grant was awarded to the Authority through the FAA Airport Improvement Program under Project No. 3-06-0031-072. The American Rescue Plan Act (ARPA) On March 11, 2021, the ARPA was signed into law, which included $8 billion in funds to be awarded as economic assistance to eligible U.S. airports in response to the COVID-19 pandemic. The Authority was awarded $20,749,123 in ARPA grant funds to support similar eligible costs such as bond debt service and personnel costs. The full award amount was expended during FY 2023 for debt service and eligible personnel costs. The Authority was also awarded an additional $2,560,424 in ARPA concessions relief addendum grant funds to provide rent and minimum annual guarantees relief to eligible airport concessionaires, of which none was expended during FY 2023. The ARPA grants were awarded to the Authority through the FAA Airport Improvement Program under Project No. 3-06-0031-073 and 3-06- 0031-074, respectively.
Title: Relationship to Federal Financial Reports
Accounting Policies: Expenditures reported on the Schedule are presented using the accrual basis of accounting. 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: There are no indirect costs included in grant expenditures on the Schedule for the year ended June 30, 2023.
Amounts reported in the accompanying Schedule agree with the amounts reported in the relatedfederal financial reports filed by the Authority.