Notes to SEFA
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards has been prepared on the accrual basis of
accounting. Grant revenues are recorded for financial reporting purposes when the Authority has met the
qualifications for the respective grants.
Accrued and Deferred Reimbursement
Various reimbursement procedures are used for federal awards received by the Authority. Consequently,
timing differences between expenditures and program reimbursements can exist at the beginning and end
of the year. Accrued balances at year end represent an excess of reimbursable expenditures over cash
reimbursements and expenditures will be reversed in the remaining grant period.
Pass-Through Entity Information
Pass-through entity identifying numbers are presented where available.
Payments to Subrecipients
There were no payments to subrecipients for the fiscal year ended June 30, 2024.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.