Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Allen County Regional Airport Authority (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 United States 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 or changes in net position of the Authority.
Expenditures reported on the Schedule are reported on the cash 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 de minimis indirect cost rate as allowed under the Uniform Guidance.
Certain Federal programs require the Authority to contribute non-Federal funds (cost sharing or matching funds) to support the Federally-funded programs. The Authority has met its cost sharing requirements. The Schedule does not include the expenditure of non-Federal cost sharing funds.