Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal award programs of the Savannah Airport Commission (the Commission). The Commission's reporting entity is defined in Note 1 to the Commission's basic financial statements. The information in the 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). All federal awards received directly from federal agencies as well as federal financial assistance passed through other government agencies are included on the Schedule. The Commission had no awards during the year that were passed to subrecipients.
The Schedule is presented using the accrual basis of accounting, which is described in Note 1 to the Commission's basic financial statements. The Commission accounts for federal financial assistance as nonoperating revenue.
The Commission has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance.
Federal program award revenues are reported as nonoperating revenue in the Commission's basic financial statements as capital contributions in the amount of $14,845,841.
Amounts reported in the Schedule agree with amounts reported in the related federal reports.