Notes to SEFA
The accompanying schedule of expenditures of federal awards presents activity of the federal award programs of the Airport. The Airport’s reporting entity is defined in note 1 to the Airport’s basic financial statements. This program is a component of the City and County of San Francisco. All federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the schedule of expenditures of federal awards.
The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting.
The Airport did not expend any federal funds to support loan programs or loan guarantee programs. The Airport does not have federal loan balances outstanding as of June 30, 2025.
The Airport has elected not to use the 10% de minimis cost rate.