Notes to SEFA
Reporting Entity The schedule of expenditures of federal awards presents the activities of federal award programs expended by the Duluth Airport Authority (Authority), a discretely presented component unit of the city of Duluth, Minnesota. The Authority’s reporting entity is defined in Note 1 to the financial statements. Basis of Presentation The accompanying schedule of expenditures of federal awards includes the federal grant activity of 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.
Capital Contributions: Capital Grants - Federal $ 14,793,424 Differences Between Expenditures Incurred in Previous Years and Related Reimbursements 2,760 Expenditures per Schedule of Expenditures of Federal Awards $ 14,796,184