Notes to SEFA
Title: Note 2
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Proprietary Fund types are accounting for using full accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rates for this entity are based on negotiated rates and not the de minimis cost rate.
For all Federal programs, the Airport uses capital improvement funds to account for resources restricted
Title: Note 4
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Proprietary Fund types are accounting for using full accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rates for this entity are based on negotiated rates and not the de minimis cost rate.
Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and, accordingly, when such funds are received, they are recorded as deferred revenues until earned.
Title: Note 5
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Proprietary Fund types are accounting for using full accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rates for this entity are based on negotiated rates and not the de minimis cost rate.
For reconciliation of federal program revenues and expenditures see the Notes to the SEFA for table.