Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Spokane Airport Board (the Airport) under programs of the federal government for the year ended December 31, 2024. The Schedule is prepared on the same basis of accounting as the Airport’s basic financial statements. The Airport uses accrual basis accounting.
The Airport has not elected to use the 10-percent de minimis indirect cost rate in 2024 allowed under the Title 2 U.S. Code of Federal Regulations Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
The amounts shown as current year expenditures represent only the federal portion of the program costs. Entire program costs, including the Airport's portion, are more than shown. 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. 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 net position, changes in net position, or cash flows of the Airport.