Notes to SEFA
The accompanying Schedule includes the federal award activity of the Airports Authority and is presented on the accrual basis of accounting. The Schedule presents only a selected portion of the operations of the Airports Authority. Consequently, it is not intended to and does not present the financial position, changes in net position or cash flows of the Airports Authority.
Reconciliation of the Schedule to the audited financial statements as of December 31, 2025 is as follows:
The Department of Transportation (DOT) and the Federal Aviation Administration (FAA) have announced the Airport Infrastructure Grant (AIG) and Airport Terminal Program (ATP) grant programs through the Infrastructure Investment and Jobs Act (IIJA), also known as the Bipartisan Infrastructure Law (BIL). These programs are a 5-year, $25 billion investment in the nation’s air transportation system allocated annually from 2022 to 2026 . From ATP discretionary funding, the Airports Authority has received $145.6 million in total grant awards for the Tier-2 Concourse (East) project at Dulles International. In 2025, $105.3 million in federal ATP-eligible expenditures related to the Tier-2 Concourse (East) project were recognized. Project expenditures through 2025 total $145.3 million, leaving $0.3 million in awarded funds left to expend. The Tier-2 Concourse (East) project will construct a modern 14-gate, 400,000 square foot concourse (to be designated as Concourse E) with convenient access to the airport’s underground Aerotrain system. Under the AIG program, the Airports Authority has been awarded $179.8 million total through 2025 for passenger facility charge-eligible projects, consisting of $89.5 at Reagan National and $90.3 million at Dulles International. In October 2025, the FAA announced further fiscal year 2026 allocations of $22.5 million at Reagan National and $23.2 million at Dulles International, bringing the Airports Authority’s total AIG allocation to $225.5 million . These grants can be invested in runways, taxiways, safety, and sustainability projects, as well as terminal, airport-transit connections, and roadway projects.