Title: NOTE B
Accounting Policies: NOTE A - BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Port of Beaumont Navigation District of Jefferson County, Texas under programs of the federal government for the year ended August 31, 2022 and is presented on the 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 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 Port of Beaumont Navigation District of Jefferson County, Texas, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Port of Beaumont Navigation District of Jefferson County, Texas.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Port of Beaumont Navigation District of Jefferson County, Texas, has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE C
Accounting Policies: NOTE A - BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Port of Beaumont Navigation District of Jefferson County, Texas under programs of the federal government for the year ended August 31, 2022 and is presented on the 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 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 Port of Beaumont Navigation District of Jefferson County, Texas, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Port of Beaumont Navigation District of Jefferson County, Texas.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
NOTE C - CONTINGENCIES These federal and state programs are subject to financial and compliance audits by grantor agencies, which, if instances of material noncompliance are found, may result in disallowed expenditures, and affect the Ports continued participation in specific programs. The amount of expenditures which may be disallowed by the grantor agencies cannot be determined at this time, although the Port expects such amounts, if any, to be immaterial.
Title: NOTE D
Accounting Policies: NOTE A - BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Port of Beaumont Navigation District of Jefferson County, Texas under programs of the federal government for the year ended August 31, 2022 and is presented on the 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 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 Port of Beaumont Navigation District of Jefferson County, Texas, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Port of Beaumont Navigation District of Jefferson County, Texas.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
NOTE D - DISASTER GRANTS Non-Federal entities must record expenditures on the Schedule of Expenditures of Federal Awards (SEFA) only after the award is both approved and expended under CFDA 97.036. The Port expended $67,891 on projects not yet obligated by FEMA during fiscal year ended August 31, 2022.