Notes to SEFA
Accounting Policies: The accompanyinf Schedule of Federal Awards includes federal grant activity of the Authority and is presented on the modified accrual basis of accounting. 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. Therefore, some amounts presented in this schedule may differ form amounts presented or used in the preparation of the general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10 percent de minimus cost rate allowed under the Uniform Guidance.