Notes to SEFA
Title: Note III
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures
are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10-percent de minimus
indirect rate as allowed under the Uniform Guidance.
Relationship to Basic Financial Statements