Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of
the Stockton Port District (District) under programs of the federal government for the year ended June 30, 2023.
The information in this Schedule is presented in accordance with the requirements of Title 2 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
District, it is not intended to and does not present the financial position, changes in net position, or cash flows of
the District.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts represent adjustments
to items reported as expenditures in prior years. No federal financial assistance has been provided to a
subrecipient.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Schedule is presented in accordance with the requirements of Title 2 Code of Federal Regulations Part 200.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of
the Stockton Port District (District) under programs of the federal government for the year ended June 30, 2023.
The information in this Schedule is presented in accordance with the requirements of Title 2 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
District, it is not intended to and does not present the financial position, changes in net position, or cash flows of
the District.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts represent adjustments
to items reported as expenditures in prior years. No federal financial assistance has been provided to a
subrecipient.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Explanation of the expenditures reported on the schedule
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of
the Stockton Port District (District) under programs of the federal government for the year ended June 30, 2023.
The information in this Schedule is presented in accordance with the requirements of Title 2 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
District, it is not intended to and does not present the financial position, changes in net position, or cash flows of
the District.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts represent adjustments
to items reported as expenditures in prior years. No federal financial assistance has been provided to a
subrecipient.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The District did not elect to use the 10% de minimis indirect cost rate