Notes to SEFA
Accounting Policies: Expenditures reported on Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained (the Uniform Guidance and/or OMB Circular A-87, Cost of Principles for State, Local and Indian Tribal Governments), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.