Notes to SEFA
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the Port Authority’s portion, may be more than shown. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
During the year ended December 31, 2023, the Port Authority incurred eligible expenditures totaling $29,865 in professional fees for snow removal equipment under FAA AIP Grant #3-53-0084-052-2024. These expenditures were reimbursed in 2024 under a federal grant awarded in that year. Although the expenditures were paid in 2023, they are reported on the 2024 SEFA because the eligible grant funding was not identified until 2024. During the year ended December 31, 2023, the Port Authority incurred eligible expenditures totaling $84,179 for an Environmental Assessment for the General Aviation Terminal Reconstruction under FAA AIP Grant #3-53-0084-055-2024. These expenditures were reimbursed in 2024 under a federal grant awarded in that year. Although the expenditures were paid in 2023, they are reported on the 2024 SEFA because the eligible grant funding was not identified until 2024.