Audit 342842

Title: NOTES TO THE SCHEDULE Accounting Policies: This schedule includes the federal awards activity of the Authority and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirement of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The Authority has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance. 1. This schedule includes the federal awards activity of the Authority and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirement of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. 2. The Authority has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.