Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Lexington-Fayette Urban County Airport Board (the "Airport"), under programs of the federal government for the year ended June 30, 2025 in accordance with the requirements of Title 2 U. S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal awards ("Uniform Guidance"). Because the schedule presents only a selected portion of the operations of the Airport, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Airport.
The Passenger Facility Charges ("PFC") were tested for compliance with requirements outlined in Federal Aviation Regulation, Part 158. While this program is not federally funded, it is included in the Supplementary Schedule of Expenditures of Federal Awards as an annual audit of the program is required by Federal Aviation Regulation, Part 158. In accordance with instructions for completing the Form SF-SAC, Data Collection Form for Reporting on Audits of States, Local Governments, and Non-Profit Organizations, PFC expenditures were not included as federal awards expended during the fiscal year as shown in Part III of Form SF-SAC. They are included in the Schedule of Expenditures of Federal Awards for informational purposes only.