Notes to SEFA
Title: Note 3:
Accounting Policies: Note 1:
The Schedule of Expenditures of Federal Awards and State Financial Assistance is a summary of the activity of the Titusville-Cocoa Airport Authority Federal Awards and State Financial Assistance presented on the accrual basis of accounting in accordance with generally accepted accounting principles.
De Minimis Rate Used: Y
Rate Explanation: Note 2:
The Uniform Guidance allows the Titusville-Cocoa Airport Authority to elect a 10% de minimis indirect cost rate. For the year ended September 30, 2023, the Titusville-Cocoa Airport Authority has elected to use the 10% de minimis cost rate, if applicable.
The Titusville-Cocoa Airport Authority did not receive any noncash assistance during the year ended September 30, 2023.