Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Crawford County Airport Authority, Illinois 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 Crawford County Airport Authority, Illinois, it is not intended to and does not present the financial position or changes in net assets of the Crawford County Airport Authority, Illinois.
Expenditures reported on the Schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance. Due to the nature of the grant, expenditures may have been paid during the fiscal year ended June 30, 2025, but reimbursed in the subsequent fiscal year.
The Authority did not receive any noncash federal assistance, nor did it have any balances outstanding on federal loans or loan guarantee programs as of June 30, 2025.
The Authority has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance.