Notes to SEFA
Accounting Policies: Basis of PresentationThe Schedule of Expenditures of Federal Awards is prepared using the modified accrual basis ofaccounting.Measurement FocusThe determination of when an award is expended is based on when the activity related to the awardoccurred.Program Type DeterminationType A programs are defined as federal programs with federal expenditures exceeding $750,000. Thethreshold of $750,000 was used in distinguishing between Type A and Type B programs.Method of Major Program SelectionThe risk based approach was used in the selection of federal programs to be tested as major programs.The Authority did not qualify as a low-risk auditee for the fiscal year ended June 30, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.