Notes to SEFA
The accompanying schedule of expenditures of federal awards (“the schedule”) includes the federal award activity of the Sioux Falls Regional Airport Authority (“the Authority”) under programs of the federal government for the year ended December 31, 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 Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.
Expenditures reported in the schedule are reported on the accrual basis of accounting. When applicable, 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. No federal financial assistance has been provided to a subrecipient.
The Authority does not draw for indirect administrative expense and has not elected to use the de minimis cost rate of up to 15 percent.
Description of each airport improvement program identified in the schedule is as follows: Project Number AIP-46-0050-63 – For Phase 1 design of expansion to terminal building (approx. 42,000 square feet) and improvements, modifications, and rehabilitation of terminal building (approx. 24,600 square feet). Project Number AIP-46-0050-65– For Phase 2 expansion of east cargo apron and reconstruction of east cargo apron and Phase 1 expansion of terminal apron. Project Number AIP-46-0050-66– For Phase 2 construction and expansion of apron terminal and construction of taxilane. Project Number AIP-46-0050-67– For Phase 2 expansion of terminal building. Project Number AIP-46-0050-68– For Phase 3 expansion of terminal building.