Notes to SEFA
This schedule is prepared on the same basis of accounting as the Port of Skagit’s financial statements. The Portuses accrual basis accounting.
The Port has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts shown as current year expenses represent only the federal grant portion of the program costs. Actual program costs, including the Port's portion, may be more than shown.
The 2023 Schedule of Expenditures of Federal Awards includes expenditures that were incurred in prior years and approved for reimbursement in 2023 by the Federal Aviation Administration.