Notes to SEFA
Title: NOTE 3
Accounting Policies: Basis of Presentation - The Schedule of Expenditures of Federal Awards is presented in accordance with generally accepted accounting principles and is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There were no subrecipient activities during the audit period.
Title: NOTE 4
Accounting Policies: Basis of Presentation - The Schedule of Expenditures of Federal Awards is presented in accordance with generally accepted accounting principles and is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Authority received no non-cash assistance.
Title: NOTE 5
Accounting Policies: Basis of Presentation - The Schedule of Expenditures of Federal Awards is presented in accordance with generally accepted accounting principles and is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Authority did not have any HUD issued mortgages or loans.