Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards and passenger facility charges (the Schedule), includes the grant activity of the District and is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards and passenger facility charges (the Schedule), includes the grant activity of the District and is presented on the accrual basis of accounting.
The accompanying Schedule summarizes the federal and passenger facility charge expenditures of the District under programs of the federal government and Passenger Facility Charge Audit Guide for Public Agencies, for the year ended September 30, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 US. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirementsfor Federal Awards (Uniform Guidance) and as specified in the Passenger Facility Charge Audit Guide for Public Agencies, issued by the FAA. The amounts reported as federal awards and passenger facility charge expenditures were obtained from the District’s general ledger. Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the District.
For purposes of the Schedule, federal awards and passenger facility charges include all grants, contracts, and similar agreements entered into directly with the federal government and passenger facility charge programs. The District has obtained Catalog of Federal Domestic Assistance (CFDA) to ensure that all programs and projects have been identified in the Schedule.
Indirect Cost Rate: The District has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.