Notes to SEFA
Title: (1) General
Accounting Policies: The SEFA is presented using the accrual basis of accounting as described in Note 2 to the Ports financial statements. Expenditures of federal awards are reported in the Ports financial statements as operating grant expenses or as additions to capital assets. Payments to subrecipients, of which there were none during the year ended June 30, 2022, are included in the SEFA when the disbursement is made by the Port to the subrecipient.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The schedule of expenditures of federal awards (SEFA) presents the activity of the federal award programs of the Port of Oakland, California (Port). The reporting entity is defined in Note 1 of the Ports financial statements. The information in the SEFA is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).The SEFA identifies federal programs by the Assistance Listing number (ALN). In addition, expenditures funded from the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), American Rescue Plan Act (ARPA) and the Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA) are denoted by the prefix COVID-19 in the federal program title in the SEFA.
Title: (3) Relationship to Federal Financial Reports
Accounting Policies: The SEFA is presented using the accrual basis of accounting as described in Note 2 to the Ports financial statements. Expenditures of federal awards are reported in the Ports financial statements as operating grant expenses or as additions to capital assets. Payments to subrecipients, of which there were none during the year ended June 30, 2022, are included in the SEFA when the disbursement is made by the Port to the subrecipient.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts reported in the SEFA agree to or can be reconciled with the amounts.