Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of the Nashua Airport Authority under programs of the federal government for the year ended June 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 the Nashua Airport Authority, it is not intended to and does not present the financial position, changes in net position or cash flows of the Nashua Airport Authority.
Expenditures reported on the Schedule are reported on the accrual 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 reimbursements.
The Nashua Airport Authority has not elected to use the 10-percent de minimis indirect cost rate for awards received through October 1, 2024, or the 15-percent rate thereafter, as allowed under the Uniform Guidance.
The recognition of expenditures of federal awards on the Schedule pertaining to the Airport Improvement Program, Infrastructure Investments and Jobs Act Programs, and COVID-19 Airports Programs in the amount of $378,341 represents eligible expenditures which occurred in a prior year.