Notes to SEFA
Accounting Policies: The schedule of expenditures of federal awards includes federal grant activity of Southern Illinois Airport Authority and is presented on the accrual basis of accounting. The information in this schedule 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). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: Federal programs in titles are reported as presented in the Federal Assistance Catalog, whenever possible. Southern Illinois Airport Authority elected to not use the 10% de minimis cost rate as covered in § 200.414 indirect (F&A) costs because all of the Airport Authority’s costs are direct costs.