Notes to SEFA
Accounting Policies: NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity
of the Authority and is presented on the full 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 Authority, it is not intended to and does not present the
financial position, changes in net position, or cash flows of the Authority.
The Authority has elected not to use the 10-percent de minims indirect cost rate as allowed under
the Uniform Guidance.
NOTE B – SUBRECIPIENTS
The Authority provided no federal awards to subrecipients during the year ended December 31,
2023.
NOTE C – DISCLOSURE OF OTHER FORMS OF ASSISTANCE
The Authority received no federal awards of non-monetary assistance that are required to be
disclosed for the year ended December 31, 2023.
The Authority had no loans, loan guarantees, or federally restricted endowment funds required to be
disclosed for the year ended December 31, 2023.
De Minimis Rate Used: N
Rate Explanation: N/A