Notes to SEFA
Title: Note 1: Describe the significant accounting policies
used in preparing the SEFA. (2 CFR 200.510(b)(6))
Accounting Policies: The schedule of expenditures of federal awards is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10% de minimis cost rate as covered in 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (Uniform Guidance) 200.414 Indirect (F&A) Costs.
The schedule of expenditures of federal awards is presented on the accrual basis of accounting.
Title: Note 2: Did the auditee use the de minimis cost rate?
(2 CFR 200.414(f))
Accounting Policies: The schedule of expenditures of federal awards is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10% de minimis cost rate as covered in 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (Uniform Guidance) 200.414 Indirect (F&A) Costs.
The Authority has not elected to use the 10% de minimis cost rate as covered in 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (Uniform Guidance) 200.414 Indirect (F&A) Costs.
Title: Note 3: Basis of Presentation
Accounting Policies: The schedule of expenditures of federal awards is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10% de minimis cost rate as covered in 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (Uniform Guidance) 200.414 Indirect (F&A) Costs.
The accompanying schedule of expenditures of federal awards includes the federal award activity of the Hall County Airport Authority. The information in this schedule 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 (Uniform Guidance). Because the schedule presents only a selected portion 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.