Notes to SEFA
Title: Description of Major Program
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared in accordance with generally accepted accounting principles on the accrual basis of accounting as prescribed in prounouncements issued by the Governmental Accounting Standards Board.
De Minimis Rate Used: N
Rate Explanation: de minimis cost rate not used
There was one major program for the year ended April 30, 2024, ALN #20.106. These Airport Improvement Program funds were awarded by the Federal Aviation Administration - U.S. Department of Transportation to the Bloomington-Normal Airport Authority for the purpose of supporting public transportation services in urbanized areas.
Title: Subrecipients
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared in accordance with generally accepted accounting principles on the accrual basis of accounting as prescribed in prounouncements issued by the Governmental Accounting Standards Board.
De Minimis Rate Used: N
Rate Explanation: de minimis cost rate not used
There were no payments made to subrecipients during the year.
Title: Insurance
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared in accordance with generally accepted accounting principles on the accrual basis of accounting as prescribed in prounouncements issued by the Governmental Accounting Standards Board.
De Minimis Rate Used: N
Rate Explanation: de minimis cost rate not used
Bloomington-Normal Airport Authority did not receive any Federal insurance as part of any Federal award during the year.
Title: Loans and Loan Guarantees
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared in accordance with generally accepted accounting principles on the accrual basis of accounting as prescribed in prounouncements issued by the Governmental Accounting Standards Board.
De Minimis Rate Used: N
Rate Explanation: de minimis cost rate not used
Bloomington-Normal Airport Authority had no loans or loan guarantees as of or for the year ended April 30, 2024.