Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting which is the same method of accounting as described in Note 1 to the financial statements. 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
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10 percent de minimis cost rate for all grants under the Uniform Guidance.