b"Capital Region Airport Commission SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS Year Ended June 30, 2025 Federal Grantor/ALN Federal Project Total FederalGrantor's Program Title AL Number Number Expenditures Department of Transportation: FAA Direct Payments:Airport Improvement Program 20.106 3-51-0043-68313,279Airport Improvement Program 20.106 3-51-0043-74 1,876,941Airport Improvement Program 20.106 3-51-0043-75 4,009,157Total Airport Improvement Program $6,199,377 Total Expenditures of Federal Awards $6,199,377Basis of Presentation The Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Commission under programs of the federal government for the year ended June 30, 2025. The information in this schedule is presented in accordance with 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).Because the schedule presents only a selected portion of the operations of the Commission, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Commission. Summary of Significant Accounting Policies The Schedule of Expenditures of Federal Awards is prepared on the cash basis of accounting not the accrual basis as the Commissions financial statements. The Commission uses the cash basis ofaccounting,whereinrevenuesarerecognizedwhencashisreceived,andexpensesare recognized when paid. The amounts shown as current year expenses represent only the federal grant portion of the program costs. Entire program costs, including the Commissions portion, may be more than shown. The Commission has not elected to use the 15% minimis indirect cost rate. Contingent Liabilities-Grants The Commission received grant funds, from the Federal Government, for construction projects, operating, and debt service expenditures.Expenditures from these grants are subject to audit by the grantor, and the Commission is contingently liable to refund amounts received in excess of allowableexpenditures.IntheopinionofthemanagementoftheCommission,nomaterial refunds will be required as a result of expenditures disallowed by the grantors. Subrecipients No awards were passed through to subrecipients. 127"