Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Corporation and is presented on the accrual basis. The information in this schedule is presented in
accordance with requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore,
some amounts presented in the schedule of expenditures of federal awards may differ from amounts presented or used in the preparation of the basic combined financial statements.
De Minimis Rate Used: N
Rate Explanation: The Corporation does not have a federally-negotiated indirect cost rate, nor has it elected to use the 10% de minimis cost rate allowed under 2 CFR 200.414.