Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs of the Detroit/Wayne County Port Authority (the "Authority"). Federal awards received directly from federal agencies, as well as federal awards passed through other agencies, are included on this schedule. / Basis of Presentation / The information in the accompanying schedule of expenditures of federal awards is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations ("CFR") Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the "Uniform Guidance"). Because this schedule presents only a selected portion of the Authority's operations, it is not intended to, and does not, present the financial position or changes in financial position of the Authority. / Basis of Accounting / The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting, which is the basis of accounting used to prepare the Authority's government-wide financial statements. There were no differences between the expenditures presented in the accompanying schedule of expenditures of federal awards and the expenditures incurred under these programs using the modified accrual basis of accounting, which is the basis of accounting used to prepare the Authoritys fund financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, in which certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
BROWNFIELDS ASSESSMENT AND CLEANUP COOPERATIVE AGREEMENTS (66.818) - Balances outstanding at the end of the audit period were 178739. BROWNFIELDS ASSESSMENT AND CLEANUP COOPERATIVE AGREEMENTS (66.818) - Balances outstanding at the end of the audit period were 500000.
Title: NOTE B - BROWNFIELDS ASSESSMENT AND CLEANUP COOPERATIVE AGREEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs of the Detroit/Wayne County Port Authority (the "Authority"). Federal awards received directly from federal agencies, as well as federal awards passed through other agencies, are included on this schedule. / Basis of Presentation / The information in the accompanying schedule of expenditures of federal awards is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations ("CFR") Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the "Uniform Guidance"). Because this schedule presents only a selected portion of the Authority's operations, it is not intended to, and does not, present the financial position or changes in financial position of the Authority. / Basis of Accounting / The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting, which is the basis of accounting used to prepare the Authority's government-wide financial statements. There were no differences between the expenditures presented in the accompanying schedule of expenditures of federal awards and the expenditures incurred under these programs using the modified accrual basis of accounting, which is the basis of accounting used to prepare the Authoritys fund financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, in which certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
As part of its administration of the Brownfields Assessment and Cleanup Cooperative Agreements program with the U.S. Environmental Protection Agency ("EPA"), both through direct funding from the EPA and with EPA funding passed through the Michigan Department of Environmental Quality ("MDEQ"), the Authority issues loans to subrecipients under a Revolving Loan Fund program to conduct activities consistent with the requirements of the program. As of September 30, 2022, the outstanding balance of these loans was $678,739. Total federal expenditures, as well as expenditures to subrecipients, under this program for the year ended September 30, 2022 were determined as follows: / See Notes to the SEFA for table