Notes to SEFA
Accounting Policies: The financial activity shown on the Schedule of Expenditures of Federal Awards reflects amounts recorded by Authority during its fiscal year July 1 2023, through June 30, 2024, and accordingly does not include a full year’s financial activity for grants awarded or terminated on dates not coinciding with the Authority’s fiscal year. The Authority reports these on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: No de minimis cost rate used, rather auditee complied with grant draw terms.