Title: Basis of Presentation
Accounting Policies: The SEFA was prepared using the cash basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% of Minimum Indirect Cost Rate allowed under the Uniform
Guidance.
The information in this SEFA 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 SEFA presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.
Title: Summary of Significant Accounting Policies
Accounting Policies: The SEFA was prepared using the cash basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% of Minimum Indirect Cost Rate allowed under the Uniform
Guidance.
The SEFA was prepared using the cash basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: The SEFA was prepared using the cash basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% of Minimum Indirect Cost Rate allowed under the Uniform
Guidance.
The Authority has elected not to use the 10% of Minimum Indirect Cost Rate allowed under the Uniform Guidance.
Title: Subrecipients
Accounting Policies: The SEFA was prepared using the cash basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% of Minimum Indirect Cost Rate allowed under the Uniform
Guidance.
For the fiscal year 2020-2021, the Authority paid $526,108,879 of federal awards to the subrecipients through COR3.
Title: Federal CFDA Number
Accounting Policies: The SEFA was prepared using the cash basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% of Minimum Indirect Cost Rate allowed under the Uniform
Guidance.
The Catalog of Federal Domestic Assistance (CFDA) Numbers is a program identification number.
Title: Program Costs
Accounting Policies: The SEFA was prepared using the cash basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% of Minimum Indirect Cost Rate allowed under the Uniform
Guidance.
The amounts shown as current year federal expenses represent only the federal grant portion of the program costs.
Title: Reconciliation of SEFA to the basic financial statements
Accounting Policies: The SEFA was prepared using the cash basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% of Minimum Indirect Cost Rate allowed under the Uniform
Guidance.
The reconciliation of expenses in the governmental fund of the basic financial statements to the SEFA is as follows: