Notes to SEFA
Accounting Policies: NOTE A BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includesthe 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 December31, 2022. The information in this schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and audit Requirements for FederalAwards (Uniform Guidance). Because the Schedule presents only a selected portion ofthe operations of the Authority, it is not intended to and does not present the financialposition, changes in net position, or cash flows of the Authority.NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement.NOTE C INDIRECT COST RATEThe Authority has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.