Notes to SEFA
Title: NOTE A-BASIS OF ACCOUNTING
Accounting Policies: All expenditures included in the schedule of expenditures of federal awards are presented on the basis that expenditures are reported to the respective federal grantor agencies. Accordingly, expenditures are recorded when the federal obligation is determined.
De Minimis Rate Used: N
Rate Explanation: The Authority did not use the federal de minimis Indirect cost rate of 10 percent on their federal grants for the year ended March 31, 2024.
All expenditures included in the schedule of expenditures of federal awards are presented on the basis that expenditures are reported to the respective federal grantor agencies. Accordingly, expenditures are recorded when the federal obligation is determined.
Title: NOTE B-INDIRECT COST RATE
Accounting Policies: All expenditures included in the schedule of expenditures of federal awards are presented on the basis that expenditures are reported to the respective federal grantor agencies. Accordingly, expenditures are recorded when the federal obligation is determined.
De Minimis Rate Used: N
Rate Explanation: The Authority did not use the federal de minimis Indirect cost rate of 10 percent on their federal grants for the year ended March 31, 2024.
The Authority did not use the federal de minimis Indirect cost rate of 10 percent on their federal grants for the year ended March 31, 2024.