Audit 392391

FY End

2025-09-30

Total Expended

$1.55M

Findings

1

Programs

1

Organization: Seward Airport Authority (NE)

Year: 2025 Accepted: 2026-03-17

Auditor: GBE CPA

Organization Exclusion Status:

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ID	Ref	Severity	Repeat	Requirement
1180722	2025-001	Material Weakness	Yes	A

ALN	Program	Spent	Major	Findings
20.106	AIRPORT IMPROVEMENT PROGRAM	$1.55M	Yes	1

Contacts

Name	Title	Type
W3CKGJE4ENR5	Terri Whisler	Auditee
4026432125	Ryan Burger	Auditor
No contacts on file

Notes to SEFA

1. Basis of Presentation The accompanying schedule of expenditures of Federal awards (Schedule) includes the Federal award activity of the Airport Authority of the City of Seward Nebraska (Authority) under programs of the Federal government for the year ended September 30, 2025. The information in this Schedule is presented 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 Seward County, it is not intended to and does not present the financial position or changes in net assets of the Airport. The Airport’s reporting entity is defined in Note 1.A. to the Airport’s financial statements. Federal awards received directly from Federal agencies, as well as those passed through other government agencies, are included in the Schedule. Unless otherwise noted on the Schedule, all programs are received directly from the respective Federal agency. Seward Airport Authority has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.

2. Summary of Significant Accounting Policies Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.

Finding Details

Finding 2025-001

Finding 2025-1 Financial Statement Preparation Criteria: Good internal control over financial reporting requires entities have personnel in place to produce financial statements, which includes the notes to the financial statements, in accordance with GAAP and other applicable standards. Condition: Though management demonstrates the capability of running a governmental organization, we noted a lack of expertise and knowledge was evident in the area of financial statement preparation in accordance with GAAP and other applicable standards. Additionally, numerous material audit adjustments were brought to management’s attention during the audit. Effect: Without proper personnel, there is an increased risk the financial statements may be materially misstated. Recommendation: We recommend the Authority weigh the cost benefit of providing training to current personnel in the areas of GAAP and financial statement preparation or hiring additional personnel with this expertise. Response: The Board will consider the costs benefit of training provisions or hiring additional personnel. Threat to independence was eliminated or reduced to an acceptable level. Auditor makes no management decisions. Entity records transactions and reconciles accounts. Board provides additional oversight. Board members have experience in corporate and industry. Thus, the financial statements are reviewed and approved by individuals with adequate skills, knowledge, and experience.