Audit 301292

Title: NOTE 1 – SCOPE OF AUDIT PURSUANT TO GOVERNMENT AUDITING STANDARDS AND TITLE 2 U.S. CODE OF FEDERAL REGULUATIONS PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS (UNIFORM GUIDANCE) Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards has been prepared on the accrual basis of accounting. Grant revenues are recorded for financial reporting purposes when the Authority has met the qualifications for the respective grants. Accrued and Deferred Reimbursement Various reimbursement procedures are used for federal awards received by the Authority. Consequently, timing differences between expenditures and program reimbursements can exist at the beginning and end of the year. Accrued balances at year end represent an excess of reimbursable expenditures over cash reimbursements and expenditures will be reversed in the remaining grant period. Pass-Through Entity Information Pass-through entity identifying numbers are presented where available. Payments to Subrecipients There were no payments to subrecipients for the fiscal year ended June 30, 2023. De Minimis Rate Used: N Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. All federal grant operations of the Southeast Louisiana Flood Protection Authority – East (“the Authority) are included in the scope of the single audit. The program which was a major program and was selected for specific testing was: Airport Improvement Program (AL No. 20.106)

Title: NOTE 2 – FISCAL PERIOD AUDIT Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards has been prepared on the accrual basis of accounting. Grant revenues are recorded for financial reporting purposes when the Authority has met the qualifications for the respective grants. Accrued and Deferred Reimbursement Various reimbursement procedures are used for federal awards received by the Authority. Consequently, timing differences between expenditures and program reimbursements can exist at the beginning and end of the year. Accrued balances at year end represent an excess of reimbursable expenditures over cash reimbursements and expenditures will be reversed in the remaining grant period. Pass-Through Entity Information Pass-through entity identifying numbers are presented where available. Payments to Subrecipients There were no payments to subrecipients for the fiscal year ended June 30, 2023. De Minimis Rate Used: N Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Single audit testing procedures were performed for program transactions occurring during the year ended June 30, 2023.

Title: NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards has been prepared on the accrual basis of accounting. Grant revenues are recorded for financial reporting purposes when the Authority has met the qualifications for the respective grants. Accrued and Deferred Reimbursement Various reimbursement procedures are used for federal awards received by the Authority. Consequently, timing differences between expenditures and program reimbursements can exist at the beginning and end of the year. Accrued balances at year end represent an excess of reimbursable expenditures over cash reimbursements and expenditures will be reversed in the remaining grant period. Pass-Through Entity Information Pass-through entity identifying numbers are presented where available. Payments to Subrecipients There were no payments to subrecipients for the fiscal year ended June 30, 2023. De Minimis Rate Used: N Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Basis of Presentation The accompanying schedule of expenditures of federal awards has been prepared on the accrual basis of accounting. Grant revenues are recorded for financial reporting purposes when the Authority has met the qualifications for the respective grants. Accrued and Deferred Reimbursement Various reimbursement procedures are used for federal awards received by the Authority. Consequently, timing differences between expenditures and program reimbursements can exist at the beginning and end of the year. Accrued balances at year end represent an excess of reimbursable expenditures over cash reimbursements and expenditures will be reversed in the remaining grant period. Pass-Through Entity Information Pass-through entity identifying numbers are presented where available. Payments to Subrecipients There were no payments to subrecipients for the fiscal year ended June 30, 2023.

Title: NOTE 4 – INDIRECT COST RATE Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards has been prepared on the accrual basis of accounting. Grant revenues are recorded for financial reporting purposes when the Authority has met the qualifications for the respective grants. Accrued and Deferred Reimbursement Various reimbursement procedures are used for federal awards received by the Authority. Consequently, timing differences between expenditures and program reimbursements can exist at the beginning and end of the year. Accrued balances at year end represent an excess of reimbursable expenditures over cash reimbursements and expenditures will be reversed in the remaining grant period. Pass-Through Entity Information Pass-through entity identifying numbers are presented where available. Payments to Subrecipients There were no payments to subrecipients for the fiscal year ended June 30, 2023. De Minimis Rate Used: N Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.