Notes to SEFA
Accounting Policies: Expenditures reported on the accompanying schedule of expenditures of federal awards are reported in accordance with generally accepted accounting principles (GAAP). The Authority did no elect to use the ten percent (10%) de minimis indirect cost rate for the year ended December 31, 2022. The Authority did not provide federal awards to subrecipients during the year ended December 31, 2022.
De Minimis Rate Used: N
Rate Explanation: The Authority did no elect to use the ten percent (10%) de minimis indirect cost rate for the year ended December 31, 2022.