Notes to SEFA
The schedule of Expenditures of Federal Assistance (the Schedule) includes all of the federal award programs for the FAA's Airport Improvement Act (Assistance Listing #20.106), Department of Transportation Small Community Air Service Development Program (Assistance Listing #20.9300), and the Department of Defense National Guard Military Construction Projects (Assistance Listing #12.400).
The accompanying schedule includes the federal award acitvity of the Authority under programs of the federal government for the year ended September 30, 2025. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Afministrative Requirements, Costs Principles and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule represents 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 on the Schedule are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles containd in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Authority has not elected to use the 10-percent de minimus indirect cost rate as allowed under the Unifrom Guidance.
Federal reimbursements are based on specific expenditures. Therefore, the amounts reported here represent grant income earned rather than cash received. There were no funds provided to subrecipients.