Notes to SEFA
Accounting Policies: THE ACCOMPANYING SCHEDULES OF EXPENDITURES OF AWARDS AND FINANCIAL ASSISTANCE ARE PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING. THESE BASES OF ACCOUNTING ARE DESCRIBED IN NOTES 2(A) TO THE AUTHORITY'S BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THIS SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF UNIFORM GUIDANCE AND SINGLE AUDIT POLICY FOR RECIPIENTS OF FEDERAL GRANTS, STATE GRANTS AND STATE AID.
De Minimis Rate Used: N
Rate Explanation: THE ROCKAWAY VALLEY REGIONAL SEWERAGE AUTHORITY HAS NOT ELECTED TO USE THE 10-PERCENT DE MINIMIS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.