Notes to SEFA
Accounting Policies: Note 1 - Summary of Significant Accounting Policies Used in Preparing the SEFA
The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal award activity of the Authority,
under programs of the federal government for the year ended August 31, 2024. The information in the 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. The SEFA is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Note 2 - De Minimis Cost Rate
The Authority has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.