What requirement is detailed in Grant Assurance #26 concerning sponsors?

Grant Assurance #26 focuses on the requirement for sponsors to report their budget annually. This assurance is part of the Federal Aviation Administration (FAA) requirements aimed at ensuring transparency and accountability in the financial management of federally funded airport projects. By mandating annual budget reporting, it allows for oversight and evaluation of how financial resources are allocated and spent, ensuring compliance with federal regulations and fostering trust between sponsors and funding agencies.

The other options imply different reporting or inspection frequencies that do not align with the specifics provided in Grant Assurance #26. Understanding this requirement is essential for airport sponsors to maintain compliance and effectively manage their finances in line with federal expectations.