Notes to SEFA
Title: (3) Relationship to Basic Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Dallas Fort Worth International Airport Board (the Airport) and is prepared on full accrual basis of accounting. Grant revenues are recognized when all eligibility requirements for reimbursement from grantor are met. Pass through entity identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The Airport has not elected to use the 10% de minimis cost rate as covered in ?200.414(f) Indirect (F&A) costs of the Uniform Guidance.
The federal expenditures from the schedule of expenditures of federal awards reconcile to grant revenue in the basic financial statements as follows: Federal capital grants revenue - 20,185,960; CARES/CRRSA/ARPA grants - 101,258,002; Other federal revenues not subject to single audit (1,909,360); Federal awards per accompanying schedule - 119,534,602