Notes to SEFA
Accounting Policies: All Federal grant operations of the Airports Authority are included in the scope of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Single Audit or Uniform Guidance). The Single Audit was performed in accordance with the provisions of the Office of Management and Budget (OMB) Compliance Supplement (the Compliance Supplement). Compliance testing of all requirements, that are defined and documented, was performed for the major Federal grant programs identified below. The programs on the accompanying schedule of expenditures of Federal awards (the Schedule) include 2022 cash and non-cash expenditures. The major Federal programs tested in 2022 covered programs to ensure coverage of at least 20% of Federally granted funds. The Airports Authoritys actual coverage was 95%.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.