Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: : Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherin certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Brownsville Energy Authority has elected to use the 10-percent de minimis
The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance summarizes the expenditures of Brownsville Energy Authority under programs of the federal and state governments for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations 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 System, it is not intended to and does not present the financial position, changes in financial position, or cash flows of the System.