Title: Grant Descriptions
Accounting Policies: Basis of Presentation - The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Greenville-Spartanburg Airport District (Airport) under programs of the federal government for the year ended June 30, 2024. 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). Because the Schedule presents only a selected portion of the operations of the Airport, it is not intended to and does not present the financial position, changes in net position or cash flows of the Airport.
Summary of Significant Accounting Policies - Expenditures reported on the Schedule are reported on 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Airport has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Greenville-Spartanburg Airport District (the “Airport”) and the Federal Aviation Administration (“FAA”) entered into the following agreements:
a. Grant agreement dated September 20, 2019, (Project #3-45-0028-56) provides funds to acquire an aircraft rescue and fire fighting vehicle as well as constructing an aircraft rescue and fire fighting
building. Under the provisions of the grant agreement, the FAA is to reimburse the Airport for 90% of the allowable costs not to exceed $7,812,647.
b. Grant agreement dated July 8, 2020, (Project #3-45-0028-57) provides funds to improve runway safety areas, expand GA development and rehab the taxiway. Under the provisions of the grant agreement, the
FAA is to reimburse the Airport for 100% of the allowable costs not to exceed $4,159,248.
c. Grant agreement dated August 31, 2021 (Project #3-45-0028-59) provides funds to rehabilitate taxiways as well as reconstruct taxiway connectors. Under the provisions of the grant agreement, the FAA is to
reimburse the Airport for 100% of the allowable costs not to exceed $10,698,643.
d. Grant agreement dated April 2, 2021 (Project #3-45-0028-60) provides funds for operational or maintenance expenses or debt service payments due to decreased operations from COVID-19. Under
the provisions of the grant agreement, the FAA is to reimburse the Airport for 100% of the allowable costs not to exceed $4,883,070.
e. Grant agreement dated April 5, 2021 (Project #3-45-0028-61) provides relief from rent and minimum annual guarantees (MAG) obligations to each eligible airport concession. Under the provisions of the
grant agreement, the FAA is to reimburse the Airport for 100% of the allowable costs not to exceed $273,431.
f. Grant agreement dated August 13, 2021 (Project #3-45-0028-62) provides funds for operational expenses or debt service payments due to decreased operations from COVID-19. Under the provisions
of the grant agreement, the FAA is to reimburse the Airport for 100% of the allowable costs not to exceed $11,121,484.
g. Grant agreement dated December 2, 2021 (Project #3-45-0028-063) provides funds for relief from rent and minimum annual guarantees (MAG) obligations to each eligible airport concession. Under the
provisions of the grant agreement, the FAA is to reimburse the Airport for 100% of the allowable costs not to exceed $1,093,725.
h. Grant agreement dated June 24, 2022 (Project #3-45-0028-064) provides funds to rehabilitate taxiways and general aviation aprons. Under the provisions of the grant agreement, the FAA is to reimburse the
Airport for 90% of the allowable costs not to exceed $4,524,530.
i. Grant agreement dated August 2, 2023 (Project #3-45-0028-065) provides funds for runway safety. Under the provisions of the grant agreement, the FAA is to reimburse the Airport for 90% of allowable
costs not to exceed $70,830.
j. Grant agreement dated August 9, 2024 (Project #3-45-0028-066) provides funds for apron and roadway expansions. Under the provisions of the grant agreement, the FAA is to reimburse the Airport for 90% of
allowable costs not to exceed $6,007,548.
k. Grant agreement dated August 16, 2024 (Project #3-45-0028-067) provides funds to improve runway safety. Under the provisions of the grant agreement, the FAA is to reimburse the Airport for 90% of
allowable costs not to exceed $720,958.
l. The Greenville-Spartanburg Airport District (the “Airport”) and the US Department of Commerce (“DoC”) entered into an agreement dated March 22, 2021 (Project #4-79-07736) which provides funds for apron
and roadway expansions. Under the provisions of the grant agreement, the DoC is to reimburse the Airport for 60.91% of the allowable costs not to exceed $5,232,611.
Title: Subreceipients
Accounting Policies: Basis of Presentation - The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Greenville-Spartanburg Airport District (Airport) under programs of the federal government for the year ended June 30, 2024. 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). Because the Schedule presents only a selected portion of the operations of the Airport, it is not intended to and does not present the financial position, changes in net position or cash flows of the Airport.
Summary of Significant Accounting Policies - Expenditures reported on the Schedule are reported on 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Airport has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Airport did not have any grant subrecipients during the fiscal year.
Title: Status of Projects
Accounting Policies: Basis of Presentation - The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Greenville-Spartanburg Airport District (Airport) under programs of the federal government for the year ended June 30, 2024. 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). Because the Schedule presents only a selected portion of the operations of the Airport, it is not intended to and does not present the financial position, changes in net position or cash flows of the Airport.
Summary of Significant Accounting Policies - Expenditures reported on the Schedule are reported on 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Airport has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
As of June 30, 2024, the following projects were open:
• Project #3-45-0028-56 • Project #3-45-0028-63
• Project #3-45-0028-57 • Project #3-45-0028-64
• Project #3-45-0028-59 • Project #3-45-0028-65
• Project #3-45-0028-60 • Project #3-45-0028-66
• Project #3-45-0028-61 • Project #3-45-0028-67
• Project #3-45-0028-62 • Project #4-79-07736