Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Authority and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the general purpose financial statements. The accompanying Schedule of Expenditures of Federal Awards is presented using the cost principles from Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Subpart E Cost Principles.
De Minimis Rate Used: N
Rate Explanation: The Authority did not elect to use the 10% de minimus indirect cost rate from Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Subpart E Cost Principles. No indirect costs were charged to federal programs during the year ended June 30, 2023.