Title: Summary of Significant Accounting Policies
Accounting Policies: Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (the schedule) includes the federal grant activity of the Cheyenne Regional Airport Board under programs for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of the Cheyenne Regional Airport Board, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Cheyenne Regional Airport Board.
Basis of Accounting
Revenues and expenditures are recognized on the accrual basis of accounting. Revenues are recognized in the accounting period in which they are earned and become measurable. This occurs when Cheyenne Regional Airport Board incurs or expends funds under a federal award Expenditures are recognized in the period in which they are incurred.
De Minimis Rate Used: N
Rate Explanation: The Aiport did not recover its indirect using the 10% de minimis indirect cost rate provided under Section 200.414 of the Uniform Guidance.
Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (the schedule) includes the federal grant activity of the Cheyenne Regional Airport Board under programs for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of the Cheyenne Regional Airport Board, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Cheyenne Regional Airport Board.
Basis of Accounting
Revenues and expenditures are recognized on the accrual basis of accounting. Revenues are recognized in the accounting period in which they are earned and become measurable. This occurs when Cheyenne Regional Airport Board incurs or expends funds under a federal award Expenditures are recognized in the period in which they are incurred.
Title: Grant Receivables
Accounting Policies: Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (the schedule) includes the federal grant activity of the Cheyenne Regional Airport Board under programs for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of the Cheyenne Regional Airport Board, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Cheyenne Regional Airport Board.
Basis of Accounting
Revenues and expenditures are recognized on the accrual basis of accounting. Revenues are recognized in the accounting period in which they are earned and become measurable. This occurs when Cheyenne Regional Airport Board incurs or expends funds under a federal award Expenditures are recognized in the period in which they are incurred.
De Minimis Rate Used: N
Rate Explanation: The Aiport did not recover its indirect using the 10% de minimis indirect cost rate provided under Section 200.414 of the Uniform Guidance.
Accrued amounts are due to expenditures exceeding receipts for an individual federal award as of June 30, 2023. Any accrued amounts in the schedule of expenditures of federal awards are shown as grant receivables in the basic financial statements.
Title: Non-Cash Assistance
Accounting Policies: Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (the schedule) includes the federal grant activity of the Cheyenne Regional Airport Board under programs for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of the Cheyenne Regional Airport Board, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Cheyenne Regional Airport Board.
Basis of Accounting
Revenues and expenditures are recognized on the accrual basis of accounting. Revenues are recognized in the accounting period in which they are earned and become measurable. This occurs when Cheyenne Regional Airport Board incurs or expends funds under a federal award Expenditures are recognized in the period in which they are incurred.
De Minimis Rate Used: N
Rate Explanation: The Aiport did not recover its indirect using the 10% de minimis indirect cost rate provided under Section 200.414 of the Uniform Guidance.
Cheyenne Regional Airport Board received no non-cash federal assistance in the form of insurance or loan and loan guarantees for the year ended June 30, 2023.
Title: Indirect Cost Recovery
Accounting Policies: Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (the schedule) includes the federal grant activity of the Cheyenne Regional Airport Board under programs for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of the Cheyenne Regional Airport Board, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Cheyenne Regional Airport Board.
Basis of Accounting
Revenues and expenditures are recognized on the accrual basis of accounting. Revenues are recognized in the accounting period in which they are earned and become measurable. This occurs when Cheyenne Regional Airport Board incurs or expends funds under a federal award Expenditures are recognized in the period in which they are incurred.
De Minimis Rate Used: N
Rate Explanation: The Aiport did not recover its indirect using the 10% de minimis indirect cost rate provided under Section 200.414 of the Uniform Guidance.
The Aiport did not recover its indirect using the 10% de minimis indirect cost rate provided under Section 200.414 of the Uniform Guidance.
Title: Subrecipients
Accounting Policies: Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (the schedule) includes the federal grant activity of the Cheyenne Regional Airport Board under programs for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of the Cheyenne Regional Airport Board, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Cheyenne Regional Airport Board.
Basis of Accounting
Revenues and expenditures are recognized on the accrual basis of accounting. Revenues are recognized in the accounting period in which they are earned and become measurable. This occurs when Cheyenne Regional Airport Board incurs or expends funds under a federal award Expenditures are recognized in the period in which they are incurred.
De Minimis Rate Used: N
Rate Explanation: The Aiport did not recover its indirect using the 10% de minimis indirect cost rate provided under Section 200.414 of the Uniform Guidance.
The Aiport did not pass any portion of federal awards to subrecipients.