Notes to SEFA
Title: MATCHING REQUIREMENTS
Accounting Policies: NOTE A BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal awardactivity of the Authority under programs of the federal government for the year ended December 31, 2022.The information on this Schedule is prepared in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of the Authority, it is not intended to and does not present the financial position,changes in net position, or cash flows of the Authority.NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, whereincertain types of expenditures may or may not be allowable or may be limited as to reimbursement. TheAuthority has elected not to use the 10-percent de minimis indirect cost rate as allowed under the UniformGuidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
NOTE C MATCHING REQUIREMENTSCertain Federal programs require the Authority to contribute non-Federal funds (matching funds) to support the Federally-funded programs. The Authority has met its matching requirements. The Schedule does not include the expenditure of non-Federal matching funds.