Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes
the federal award activity of Airport Authority for Airport District #1 of Calcasieu Parish
(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 on the Schedule are reported on the accrual basis of accounting.
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.
The Authority has elected not to use the 15 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.