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