Notes to SEFA
Accounting Policies: General - The accompanying Schedule of Federal Awards presents the activity of all federal award programs of Americas Central Port District (District). The Districts reporting entity is defined in Note 1 to the Districts financial statements. Federal awards passed through other government agencies are included on the schedule.Basis of Accounting - The accompanying Schedule of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Districts financial statements.Noncash Assistance, Federal Insurance and Loans/Loan Guarantees - The District did not receive any noncash assistance, federal guaranteed loans or federal insurance for any of its programs for the year ended June 30, 2022.Subrecipient Monitoring - The District did not provide any funds to subrecipients for federal funds.Indirect Cost Rate - The District elected to use the de minimis indirect cost rate of 10%.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.