Notes to SEFA
Accounting Policies: Note 1- Basis of Presentation: The accompanying schedule of expenditures of federal awards and state financial assistance (the Schedules) include the federal and state award activity of the Agency for the year ended December 31, 2022. The information in the Schedules are presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirement for Federal Awards (Uniform Guidance) and the State of Florida Chapter 10.650, Rules of the Auditor General. Because the Schedules present only a selected portion of the operations of the Agency, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Agency. The Agency has elected not to use the 10% de minimis indirect cost rate for its federal programs or state programs. The indirect cost rates used on the Agencys federal programs and state programs are determined by the relevant federal or state agency. Note 2. Summary of Significant Accounting Policies: 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 and the State of Florida Chapter, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.