Audit 37321

Title: Contingency Accounting Policies: The Schedule of Expenditures of Federal Awards and State Financial Assistance has been prepared using the accrual basis of accounting. The accrual basis of accounting recognizes revenues when they are earned and expenditures when they are incurred. There were no subrecipients for the fiscal year ended September 30, 2022. A reconciliation of the amounts included in the Schedule of Expenditures of Federal Awards and State Financial Assistance to the amounts included in the Statements of Revenues, Expenses and Changes in Net Position for the fiscal year ended September 30, 2022, is as follows: Schedule of Expenditures of Federal Awards and State Financial Assistance:Federal Award Expenditures $ 178,167,532State Financial Assistance 24,534,420Federal Awards and State Financial Assistance $ 202,701,952Statements of Revenues, Expenses and Changes in Net Position:Federal and State Grants Nonoperating Revenues $ 163,666,281Capital Contributions 39,670,280Contributions from Other Miscellaneous Sources (2,040,224)TSA not included on SEFA 70T04018T9CAP1154 (Elec Baggage Screening) (3,854,984)CRRSA Allocation of Concession Relief 5,260,599Federal Awards and State Financial Assistance $ 202,701,952 De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The grant revenue amounts received are subject to audit and adjustment. If any expenditures are disallowed by the grantor agency as a result of such an audit, any claim for reimbursement to the grantor agencies would become a liability of the Authority. In the opinion of management, all grant expenditures are in compliance with the terms of the grant agreements and applicable federal laws and regulations.